Molded plastics market Trends, Revenue, Competitive Landscape And Developments FPosted by rohit on February 28th, 2022 Market Overview Molded plastics are the type of polymers, which can be molded into any size and shape for the use in commercial applications. The use of pigments and other additives enhances the quality of the molded plastics. Molded plastics are used in various end-use industries, owing to the characteristics, such as durability, lightweight, and high chemical resistance. The automobile industry uses molded plastic for manufacturing of air flow ducts, engine cover, wheel wells, car fascia, grilles, bumpers, and other components. Extensive expansion and development in the construction, automotive, and packaging industry will boot growth in molded plastics market globally. For instance, according to Organization Internationale des Constructeurs Automobiles (OICA) the automotive industry increased with a growth rate of 4.5% during the period 2015-2016. Molded plastics are used in manufacturing automobiles that are environmentally sustainable and low-carbon emission vehicles, which are increasingly in demand. The rapid modernization in emerging economies such as India, China, and Brazil has led to increasing expansion of packaging industry owing to high outflow and inflow of fast moving consumer goods, which will in turn boost growth of molded plastic market. Furthermore, electrical and electronic industry has high demand for molded plastics as it is used in the manufacturing of electronic devices such as laptops, televisions, computers, and mobile phones. Request Copy Of This Business Report:https://www.coherentmarketinsights.com/market-insight/molded-plastic-market-908 Market Dynamics Asia Pacific was the largest market for injection molding in 2016 and is expected to retain its dominance during the forecast period. The high demand from the various end-use industries, such as packaging, building and construction, and automobile is expected to result in increasing demand for molded plastic market. Moreover, the plastic injection molding process yields higher production in considerably less time with minimal production waste, hence, further boosting the growth of global molded plastic market. Detailed Segmentation:
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