Injection Molded Plastics Market

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INJECTION MOLDED PLASTICS MARKET ANALYSIS

• Injection Molded Plastics Market, By Raw Material
  (Polypropylene, Acrylonitrile butadiene styrene
  (ABS), High Density Poly Ethylene (HDPE),
  Polystyrene, Others), By Application (Packaging,
  Consumables and Electronics, Automotive and
  Transportation, Building and Construction,
  Others), and By Region (North America, Europe,
  Asia Pacific, Latin America, Middle East
  Africa) - Size, Share, Outlook, and Opportunity
  Analysis, 2020 - 2027

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Injection-molded plastics is a manufacturing
process used to produce various plastic products
by using injecting molten material. Mostly
thermoplastic and thermosetting plastic is used
for the production of plastic products such as
automotive parts, electronic appliances,
packaging products, construction material,
medical disposable syringes, toys, etc. The
global injection molded plastics market is
projected to surpass US 400 billion by the end
of 2027, in terms of revenue, growing at CAGR of
5.3 during the forecast period (2020 to
2027). Drivers Expansion of the housewares
market around the globe is a prime factor
propelling the market growth of the injection
molded plastics. Injection-molded plastics are
used to produce various housewares products such
as beverage ware, cookware, dinnerware, bake
ware, flatware, and cutlery. The growth of the
housewares market is also attributed to
increasing population around the globe. Thus the
growth of the housewares market is expected to
foster the market growth of injection molded
plastics.
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Growth in the plastic packaging market is
projected to augment the market growth of the
injection molded plastics. Plastic packaging is
one of the largest user of injection molded
plastics. The rise in the demand for food
packaging and other industrial packaging is
driving demand for plastic packaging, especially
across developing countries. Hence, growth in the
plastic packaging market is accelerating the
market growth of the injection molded
plastics. Regionally, Asia-pacific dominated the
global injection molded plastics market in 2019,
reporting 36 market share in terms of revenue,
followed by North America and Europe,
respectively.
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Figure 1. Global Injection Molded Plastics
Market, Revenue Share (), By Region, 2019
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Market Restraints An environmental concern
associated with the use of plastic products is
projected to hinder the market growth of
injection molded plastics. Production and
disposal of plastic have various environmental
impacts as they are non-degradable in nature. A
high initial investment of the equipment used in
the injection molded plastics is expected to
hamper the market growth over the forecast period.
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Market Opportunities Expanding rigid packaging
market around the globe is projected to offer
lucrative market opportunities in the near
future. Injection-molded plastics are widely used
in the rigid packaging for various industries
such as chemical, medical, pharmaceutical, and
oil gas. According to the Coherent Market
Insights analysis, plastic rigid
packaging accounts for approximately 25 of the
overall packaging market. Hence, growth in rigid
packaging is projected to augment market
growth. Increasing launch of advanced technology
for injection molding plastic is expected to
bring new market opportunities. For instance, in
April 2018, Yizumi-HPM Corp., a manufacturer of
high-quality hybrid injection molding machinery
from 60 to 3500-tons clamping force, announced
the launch of three new series of injection
molding machines at NPE 2018 May 7-11 at the
Orange County Convention Center in Orlando, Fla.
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Figure 2. Global Injection Molded Plastics Market
Opportunity Analysis
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Market Trends Polypropylene material is gaining
traction across automotive components, household
goods, and packaging applications. It is mainly
used in electrical connector covers and bases in
order to provide electrical and mechanical
support as it has superior electrical insulation
properties. Thus, the growing popularity of
polypropylene material is projected to augment
the market growth of the injection molded
plastics over the forecast period. Increasing
use of metals and alloys in the automotive
component in place of injection molded plastics
is a key trend in the market. Growing demand for
a lightweight vehicle for fuel efficiency is
expected to foster the market growth of the
injection molded plastics. Thus the growth of the
injection molded plastics market is also
attributed to the rising adoption of the advanced
plastic across the automotive industry.
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Figure 3. Global Injection Molded Plastics
Market, Revenue Share (), By Application, in 2019
On the basis of application, consumables
electronics the global injection molded plastics
market in 2019 with around 33 of market share in
terms of revenue, followed by packaging and
others, respectively.
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Global Injection Molded Plastics Market - Impact
of Coronavirus (Covid-19) Pandemic Recent
disruptions in supply chain and raw material
availability owing to Coronavirus (Covid-19)
Pandemic have hampered the production rate of
various products such as consumer goods,
automotive parts, constructions materials and
others. However, certain segments of the market
such as healthcare and food beverage industries
are witnessing a surge in demand for plastics
which in turn is expected to fuel the growth of
the global injection molded plastics market till
the mid-quarter of 2021.
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• Competitive Section
• Key players are operating in the global Injection
  molded plastics market are BASF, DOW Chemicals,
  Huntsman Corporation, Ineos oxide, Saudi basic
  industries corporation, Exxon Mobil Corporation,
  Du Pont de Nemours Company, and Lyondellbasell
  industries
• Few Recent Developments
• In November 2019, Huntsman Corp. launched
  Iroprint materials, a soft, flexible 3D printing
  materials. It is available in filaments, powder,
  and resin.

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