Global Injection Molded Plastics Markets Valued At $ 390 Billion By 2028: Increasing Penetration In Automotive Applications – ResearchAndMarkets.com

DUBLIN – (BUSINESS WIRE) – The “Global Injection Molding Plastics Market Analysis Report, By Raw Materials (Polypropylene, ABS, HDPE, Polystyrene), By Application (Packaging, Automotive & Transportation, Medical), By Region, & Segment Forecasts, 2021-2028” report was added to ResearchAndMarkets.com to offer.

The global injection molded plastics market is projected to reach $ 390.3 billion by 2028, growing at a CAGR of 4.6%.

Growing demand from key applications such as automotive, packaging and construction, particularly in Brazil, Russia, India, China and South Africa (BRICS), should drive growth. The high-growth regions such as the Middle East and the Asia-Pacific region have seen an enormous increase in capacity in recent years.

The increasing presence of plastic injection molding companies in China due to low manufacturing costs and sufficient availability of skilled workers should benefit the regional market. Due to the increasing demand for plastic products, large foreign companies are expanding their production capacities in the region. Government support in the form of tax breaks and financial incentives in China and India to increase the flow of FDI has helped develop the plastics market in those countries.

In packaging applications, high density polyethylene (HDPE) is used extensively in thin wall injection molding. Growing packaging demand for food, trash bags and ding-gauge bags is expected to drive growth over the forecast period

The proliferation of injection molded HDPE in shipping containers, industrial bins and houseware applications is expected to continue to drive demand over the forecast period.

The recent outbreak of the COVID-19 pandemic has had an impact on the revenue generation of the companies operating in the market due to the downtime or slowdown in production facilities. As a result, companies are focusing on improving their resources and manufacturing capabilities to help fight the pandemic.

For example, G&C Products, a US-based company that makes plastic injection molds, makes plastic products for the fishing and medical industries, began making personal protective equipment such as face shields and face masks.

Injection Molded Plastics Market report highlights

  • In terms of revenue, the demand for injection molded plastics from the packaging industry in Asia Pacific is projected to reach $ 49.7 billion by 2028, with a CAGR of 5.4% from 2021 to 2028

  • The growth of the electronics industry and the cost efficiency of electrical appliances are expected to remain a major driver over the next eight years

  • Demand from the medical sector in North America is projected to increase with a CAGR of 4.0% from 2021 to 2028

  • Packaging is the leading application segment in France and is expected to have a CAGR of 4.3% over the forecast period

Market dynamics

Market driver analysis

  • Increasing penetration in automotive applications

  • Growing construction spending in emerging markets

  • Positive outlook for the global packaging industry

Analysis of the market restrictions

  • Growing environmental concerns

Mentioned companies

  • Exxon Mobil Corp.

  • BASF SE

  • DuPont

  • Dow Inc.

  • Huntsman Corporation

  • Eastman Chemical Company

  • INEOS group

  • LyondellBasell Industries NV

  • SABIC

  • Magna International, Inc.

  • International Automotive Components (IAC) Group

  • Berry Global, Inc.

  • Master Molded Products Corporation

  • HTI Plastics Inc.

  • Rutland Plastics

  • AptarGroup, Inc.

  • Missing Enterprises, Inc.

  • The Rodon Group

  • Heppner forms

Please visit https://www.researchandmarkets.com/r/28075 for more information on this report

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