Injection Molded Plastics Market - Size Analysis and Demand with Forecast Overvi
Posted by Rishab Gupta on January 21st, 2020
— Global Injection-Molded Plastics Market: Information by Raw Material Type (Polypropylene, ABS, ASA, SAN, HDPE, LDPE, LLDPE, Polystyrene, Polycarbonate, PEEK, PET, Polyurethane Thermoplastics, Others), Application (Packaging, Consumable & Electronics, Automotive & Transportation, Building & Construction, Medical, Others), Region (North America, Europe, Asia Pacific, The Middle East & Africa, Latin America) - Forecast till 2023
Top Key Players
LyondellBasell, ExxonMobil, DuPont, Huntsman Corporation, BASF, Dow Chemicals, Eastman Chemical Company, SABIC, INEOS Group AG, Chevron Phillips Chemical Company LLC, and Reliance Industries Limited are some of the prominent players at the forefront of competition in the Global Injection molded plastics Market and are profiled in MRFR Analysis.
Injection molded plastics Marke Competitive Analysis
The global injection molded plastics market is competitive market with presence of some tier 1 players as well as small regional players in the market. Notably, some of the key players are BASF, DowDuPont, SABIC, LyondellBasell; Eastman Chemical Company. These companies are operating in injection molded plastics and have integrated value chain for sustainability growth. Other companies are also expanding into new geographic regions to tap the market revenue growth. Few companies are also entering long term agreement with distributors channel.
According to MRFR analysis, the Injection-Molded Plastics Market has been segmented based on raw material type, application, and region.Based on raw material type, the global market has been segmented into polypropylene, ABS, ASA, SAN, HDPE, LDPE, LLDPE, polystyrene, polycarbonate, PEEK, PET, polyurethane thermoplastics, and others. Among these, the polypropylene segment held the largest market share of around 44% in 2018 due to its superior properties with leads to its large-scale use in the manufacturing of pipes, pallets, food packaging, and automobile interior parts, among others.
Based on application, the global market has been segmented into packaging, consumable & electronics, automotive & transportation, building & construction, medical, and others. Among these, the packaging segment accounted for the largest market share in 2018 and is also expected to register the highest value CAGR of over 6% during the forecast period due to the large-scale consumption of injection-molded packaging products such as caps and closures, thin wall packaging, and rigid bulk packaging across various end-use industries.
Industry/ Innovation/ Related News
June 2017-Dow Chemical completed construction of plastic plant in Houston. The new plant is producing 400,000 metric tons of polyethylene plastic a year. The plant also consists of 1.5 million metric tons of ethylene production which is derived from natural gas liquids. This material is primary products for production of plastics. With rising demand of polyethylene in plastic industry, the company would be able to meet customer requirements.
January 2017-BASF expanded compounding plant at Schwarzheide site, Germany. This expansion includes production capacity upto 70,000 tons of Ultramid polyamide and Ultradur polybutylene terephthalate materials. BASF runs total of PA and PBT capacity of 700,000 tons worldwide. Thus, extended capacity is able to meet rising global demand of engineering plastics.
June 2016 – BASF extended high performance portfolio products with compostable particle foam ecovio® EA. The product is bio based and possess similar properties of EPS with excellent energy absorption and good resilience when subjected to different impact loads. This product is versatile bioplastic used in numerous application such as plastic film such as organic waste bags, dualase bags or agriculture films. Moreover, compostable packaging solutions such as injection molded products would be produced from ecovio.
October 2017- Dow elastomer division launched a new products such as NORDEL™ EPDM (ethylene-propylene-diene terpolymer). This helps the automotive manufacturer to meet customer requirements of light weight and aesthetics market. the elastomer division is further investing in innovation and growth primarily in Saudi Arabia.
January 2016- BASF expanded product portfolio for food contact application. These products offers special Elastollan portfolio which comprises of ether and ester based grades. These grades are used in range of injection molded and extrusion application such as conveyor belts, films and fabrics.
Injection Molded Plastics Market Overview
Injection Molded Plastics is manufacturing process in which molten materials are injected and turn into desired shape and size through usage of mould according to requirements. This process is commonly found in thermoplastic and thermosetting polymer. These materials possess excellent chemical resistance, durability and are lightweight which enables its usage in numerous application such as packaging, consumable & electronic goods and automotive & transportation.
Global Injection Molded Plastic Market is growing at considerable CAGR owing to prominent factors such as increasing demand of plastic products in packaging and automotive industry and rising expenditure on infrastructure activities in emerging markets. Key countries such as U.S., China, Germany, India and South Korea are developing new innovative methods to produce injection molded plastics using bio-based counterparts.
Asia Pacific region emerged as dominating region due to rapid industrialization and urbanization leading to high consumption of injection molded plastics in end use industries. Major players are expanding production facility in developing region to meet growing demand of the plastic industry.
Europe region witnessed significant growth owing to changing lifestyle and rising consumer spending with expansion of multinational companies in Spain, France and Italy. Increasing food & beverage industry along with household chemical segment in European market are likely to boost the demand for injection molded plastics market. Countries like the U.S. and Canada are expending more on construction activities. Increased in purchasing power and shift towards advanced materials are likely to propel the market growth.
Injection-molded plastic manufacturers
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About the AuthorRishab Gupta
Joined: November 25th, 2019
Articles Posted: 303
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