Global Plastic Injection Molding Industry By 2026 – Accelerating Use In Consumer Products And Electronics Is Driving Growth – ResearchAndMarkets.com
DUBLIN – (BUSINESS WIRE) – Added “Plastic Injection Molding Market – Growth, Trends, Impact of COVID-19, and Forecasts (2021-2026)” report ResearchAndMarkets.com offer.
The plastic injection molding market is expected to grow at a CAGR of over 4% over the forecast period.
The main factors driving the studied market are accelerated usage in consumer products and electronics, as well as growing demand in the packaging industry. On the flip side, tough environmental regulations on the use of plastics and adverse conditions due to the COVID-19 outbreak are the biggest barriers likely to hamper market growth.
Berry Global Inc.
Eastman Chemical Company
Exxon Mobil Corporation
Huntsman International LLC
LyondellBasell Industries Holdings BV
Quantum Services Group
Royal DSM NV
Rutland Plastics Ltd
The Rodon Group
Major market trends
Increasing demand from the packaging segment
Injection molding is a manufacturing technique used to manufacture plastic products such as components and parts that are used in various end-user industries. In this process, molten material is injected into a mold, where it is melted, cooled and finally solidified as a finished product in the desired shape and size.
The growing demand for packaging for cosmetics and toiletries, pharmaceuticals, household chemicals, and food and beverages is increasing the demand for injection molded plastics, which are driving the market.
In addition, injection molded plastics offer advantages such as longer shelf life for food products, longer shelf life, optical clarity and less wear and tear. Because of these advantages, the demand for injection molded plastic is expected to increase, which would boost the market over the forecast period.
The global packaging industry is expected to grow at a CAGR of over 6% in the forecast period. This is expected to provide ample opportunity for the plastic injection molding market to grow over the forecast period.
Due to all of the above factors for Plastic Injection Molding, the market is expected to grow rapidly over the forecast period.
Asia Pacific region will dominate the market
The Asia-Pacific region is expected to dominate the plastic injection molding market during the forecast period. In countries such as China, India, Japan and South Korea, demand for plastic injection molding is increasing in the region due to the increasing demand for plastics from various end-use industries such as packaging, automotive and transportation, healthcare, electronics and construction.
The increasing use of injection molded plastics in the medical industry is expected to boost the market over the forecast period due to properties such as biocompatibility and optical clarity. In addition, the increasing trend towards biodegradable polymers is expected to create lucrative opportunities for medical device manufacturers to grow the plastic injection molding market.
In addition, the increasing trend by automakers to use molded plastic materials instead of metals and alloys to reduce the overall weight of vehicles to increase vehicle fuel efficiency and the growing electric vehicle industry are expected to have a positive impact on the plastic injection molding market in the region.
In addition, the increasing demand for molded plastics in electronic devices such as laptops, cell phones, washing machines and others is expected to further boost the plastic injection molding market in the region. The electronics and consumer goods plastics market is expected to grow at a CAGR of over 6% over the forecast period. These factors are expected to stimulate the Plastic Injection Molding market during the forecast period.
Some of the major companies operating in the Asia Pacific region are – BASF SE, LyondellBasell Industries Holdings BV, and Eastman Chemical Company.
The above factors, along with government support, will contribute to increasing demand for plastic injection molding over the forecast period.
Key topics covered:
2 RESEARCH METHOD
4 MARKET DYNAMICS
4.1.1 Accelerating use in consumer goods and electronics
4.1.2 Growing demand in the packaging industry
4.2.1 Strict environmental requirements when using plastics
4.2.2 Adverse conditions due to the COVID-19 outbreak
4.3 Analysis of the industry’s value chain
4.4 Five Forces Analysis of Beams
5 MARKET SEGMENTATION
5.1 Raw material
5.3.2 North America
5.3.4 South America
5.3.5 Middle East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Cooperations and Agreements
6.2 Market share (%) / ranking analysis **
6.3 Leading Player Strategies
6.4 Company profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Health Sector Growth in Emerging Markets
7.2 Introduction of light vehicles and electric vehicles
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