Global Injection Molded Plastics Market By Raw Material (Polypropylene (PP), Acrylonitrile Butadiene Styrene (ABS), and Other Raw Materials), By Application (Packaging, Consumables & Electronics, Automotive & Transportation, Building & Construction, and Others), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032

Injection Molded Plastics Market Overview:

In 2021, the global injection-molded plastics market was worth USD 296,740 Million. The market is forecast to grow at a 4.4% CAGR.

This market is expected to be driven by the increasing demand for plastic components in various industries, such as automotive, packaging, and electrical & electronic, & medical devices. Injection-molded technology has become more important in the mass production of complex plastic shapes due to modern innovations that reduce the chance of production errors. Market growth will be slowed by volatile prices for raw materials such as ethylene and benzene. Owing to the growing concerns about their disposal.

Global Injection Molded Plastics Market Scope:

Raw Material analysis

The largest revenue share for polypropylene (PP) was over 36%, in 2021, due to increasing PP consumption in automotive components, packaging applications, and household products. It is expected that PP-based products will continue to grow in penetration in protective caps for battery housings, electrical contacts & food packaging over the foreseeable future.

Because of its electrical insulation and corrosion resistance, polypropylene is broadly used in electrical contacts and food packaging. This segment is anticipated to experience to boost the market growth over the coming years due to the above factors.

Halt in production activities to stop the infection of coronavirus has resulted in a decrease in PP consumption and negatively impacted the demand for target products for several applications. Due to restrictions on movement and logistical issues, manufacturers had difficulties in their production plants. This has further affected product demand.

Acrylonitrile Butadiene Styrene was the second most important raw material in 2021. The market is expected to grow due to the rising demand for ABS components in medical devices, consumer appliance manufacturing, and electronic housings.

Application analysis

In 2021, the segment packaging accounted for over 32% of overall revenue. Packaging products go through several development stages to meet regulatory requirements and end-user needs. Plastics must meet several requirements for packaging applications, including improved shelf life and wear & tear resistance.

Plastic injection molding has great potential, especially in the automotive and medical industries. This sector is expected to see the most significant growth, especially in the medical components and devices segment. The medical industry is expected to see a rise in product demand due to its optical clarity, biocompatibility, and cost-effective production methods.

The growth is expected to be aided by a strict regulatory environment regarding medical-grade polymer use in healthcare sectors. In the coming period, the medical industry will see a rise in demand for biodegradable plastics from medical device manufacturers. The forecast period will see a substantial shift in product demand due to the replacement of steel with plastics in automotive. In recent years, government regulations have required automotive manufacturers to utilize plastics instead of iron as well as steel. To improve fuel economy, automobile manufacturers have focused on reducing vehicle weight.

Kеу Маrkеt Ѕеgmеntѕ

By Raw Material

• Polypropylene (PP)
• Acrylonitrile Butadiene Styrene (ABS)
• High-Density Polyethylene (HDPE)
• Polystyrene (PS)
• Other Raw Materials

By Application

• Packaging
• Consumables & Electronics
• Automotive & Transportation
• Building & Construction
• Medical
• Other Application

Market Dynamics:

To overcome these challenges, companies focus on creating injection-molded plastics that use bio-based counterparts. Product demand will be driven by rising construction spending in emerging markets like Brazil, China and India, Mexico, Russia, South Africa, and Mexico. The versatility of the finished products, including their better heat and pressure resistance, makes them more useful for different industries.

The government has provided support through tax benefits and financial incentives to China and India to expand the foreign direct investment (FDI) market. They also offer low-cost labor, further lowering producers’ overall manufacturing costs. This shift has led to increased plastic product overcapacity, which has affected their prices. The slowdown or halt of manufacturing activities to stop the spread of coronavirus has decreased injection molding plastics consumption and negatively affected its demand in different applications around the world.

Regional Analysis

The Asia Pacific dominated the global market in 2021, accounting for more than 37% of the total. Market penetration is expected to be driven by rising infrastructure spending and growing automobile demand in countries like China, India, Indonesia, and Malaysia. Due to low labor costs, major end-use industries such as automobiles and electronics are moving their manufacturing base to India, China, and Indonesia. These countries also offer tax incentives to their manufacturers.

These factors will drive product demand in the region during the forecast period. Europe is another important market. Non-food and beverage packaging in Europe includes cosmetics, toiletries, pharmaceuticals, and household chemicals.

The consumables & electronics applications sector is expected to see an increase in demand for electronic devices, including laptops and cell phones, especially in the U.K., Germany, and France. Over the forecast period, the region will also be impacted by Europe’s automobile industry growth.

Key Regions and Countries covered іn thе rероrt:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Market Share & Key Players Analysis:

Global market fragmentation is a result of the existence of an unorganized sector, especially in Latin America and the Asia Pacific. Many companies, especially those from the Asia Pacific, are constantly seeking capacity additions in order to benefit from operational excellence and scale economies. The market is competitive due to its diverse product range and differentiation.

The following are some of the most prominent players in the global market for injection-molded plastics:

Маrkеt Кеу Рlауеrѕ:

• ExxonMobil Corp.
• BASF SE
• DuPont de Nemours, Inc.
• Dow, Inc.
• Huntsman International LLC
• Eastman Chemical Company
• INEOS Group
• SABIC
• LyondellBasell Industries Holdings B.V.
• Magna International, Inc.
• IAC Group
• Berry Global, Inc.
• Master Molded Products Corp.
• HTI Plastics, Inc.
• Rutland Plastics
• Other Key Players

For the Injection Molded Plastics Market research study, the following years have been considered to estimate the market size: