Molded Plastic Market to grow substantially with a high CAGR by 2023Posted by Harish Somani on October 8th, 2018 Market Overview:The growth of the global Molded Plastic Market is driven by the rapidly increasing use in the packaging industry in fast-moving consumer goods, household care products, and consumer electronics. The rapid growth of the construction, electrical and electronics, automotive, and packaging industries is expected to fuel the demand for molded plastics during the forecast period. The use of molded plastics in the electrical and electronics industry has seen substantial growth in recent times in laptops, televisions, computers, and mobile phones. Molded plastics are also widely used in automotive applications such as air flow ducts, engine covers, car fascia, grilles, and bumpers. The rise in the demand for environmentally sustainable and low carbon emitting vehicles has increased the use of molded plastics in the manufacturing of automobiles to reduce vehicle weight and increase fuel economy. However, the growth of the global Molded Plastic Market is hindered by high initial costs and short production runs, which may create a roadblock for players in the market. Intended Audience:
Regional Analysis:Based on region, the molded plastic market has been segregated into; North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The market in Asia-Pacific accounted for the largest share in 2017 due to the growing industries such as automotive, aerospace and defense, and electrical and electronics in developing economies such as India, China, and Thailand. Free trade agreements between countries such as India and China are likely to further drive market growth during the review period. The market in North America is also expected to grow at a considerable rate during the review period on account of the reviving automotive, electronics. Europe is another prominent market for molded plastic owing to the increasing demand in the aerospace and defense industry with the rising increasing production of aircraft. Market Segmentation: The Global Molded Plastic Market has been segmented by material, technology, application, and region. Based on type, the market has been divided into polypropylene, polyvinylchloride, polystyrene, polyethylene, polyethylene terephthalate. On the basis of application, the market has been segregated into packaging, electronics, building and construction, automotive. By technology, the market has been classified as injection molding, blow molding, thermoforming, extrusion molding. The global molded plastic market has been segmented, by region, into North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa. Global Key Players:Some of the key players available in the global Molded Plastic Market are; BASF SE (Germany), Harwal Group of Companies (UAE), DuPont (US), HTI Plastics (US), Eastman Chemical Company (US), INEOS (UK), LyondellBasell Industries Holdings BV (Netherlands), Reliance Industries Limited (India), SABIC (Saudi Arabia), Exxon Mobil Corporation (US), Magna International Inc. (Canada), and Takween Advanced Industries (Saudi Arabia). Receive Sample Report @ Like it? Share it! More by this author |