Injection Molded Plastics Market

Injection Molded Plastics Market is expected to grow at a USD 265 billion by 2028 and witnessing a 4.9% CAGR during 2020-2027.

Injection Molded Plastics Market Overview

Injection molding is a manufacturing process for producing plastic products by melting plastics pellet (thermosetting/thermoplastic) when malleable enough and are injected into a mould cavity at a high pressure and solidified as the final product. Injection molded plastics are used in the manufacturing process of automotive components and miscellaneous assembly parts.

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Major Injection Molded Plastics Market Drivers

The robust shift towards plastics for manufacturing components and parts for the automotive and electronics appliance industry is expected to drive the market. For instance, plastics and carbon fiber are adopted for manufacturing vehicles parts to reduce vehicles’ overall weight and improve fuel efficiency, which will continue the opportunities for manufacturers of injection molded plastics. For instance, Ford caught attention of the international press and automotive industry in 2019 when it revealed that each of its vehicles contains 250 bottles of plastics which comes out to be 1.2 billion bottles a year.

Moreover, the latest innovations in injected-molded technologies in global companies, as the new packaging coming into the market is recyclable. For instance, Sony’s ground-breaking sulfur-based flame retardant allow use up to 99% recycled material in our plastic which further expected to drive demand. Manufacturers and Electronics & Consumer Goods are currently benefiting from the high demand for plastics for its products.

Restraint in the Injection Molded Plastics Market

However, rising environmental concerns regarding the use of plastics are expected to hinder the market growth. For instance, in 2020, New York officially banned the distribution of single-use plastic carrier bags, making New York the second US state to introduce a ban after California in 2014.

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Raw material – Segment Analysis

Based on the raw material, the polypropylene is expected to grow significantly during the forecast period due to its usage in automotive components and household goods. Owing to its resilience to heat, oil solvent, mold, and bacteria, it represents a good choice for medical applications such as syringes, medical vials, Petri dishes, specimen bottles, and others represents a huge demand in the healthcare industry. For instance, UNICEF stands to be procuring more than 2 billion doses of vaccine annually for routine immunization and outbreak response on behalf of 100 countries which will likely to surge the overall growth of the market.

Application – Segment Analysis

Based on the application, the packaging is anticipated to grow at a higher CAGR over the forecasted period owing to the high demand for packaging in electronic appliances and the automobile industry across the globe. For instance, according to the Department of Chemicals and Petrochemicals Ministry of Chemicals and Fertilizers, in 2019, India plastic consumption is about 17.8 MMT and is expected grow at 10% CAGR. Packaging accounted for the maximum share of 24% and is expected to grow at 18% annually, which signifies great growth in the packaging sector.

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Regional – Segment Analysis:

Based on region, Asia-Pacific is expected to grow at a higher growth rate over the forecasted period due to the presence of leading electronics manufacturers like LG, Sony, Panasonic, and others which signifies the subsequent demand for plastic in the future. According to UN Environment, more than one-fourth of the resins globally used in the production of single-use plastics are manufactured in Northeast Asia. This can be attributed to the growth of the plastics manufacturing industry in the region and can further lead to the expansion of the injection molded plastic market.

Top Market Players

Several leading injection molded plastics companies operating in the market, include, BASF SE, DOW, Eastman Chemical Company, Exxon Mobil Corporation, Huntsman International LLC., INEOS Group., Mitsubishi Engineering Plastics, Celanese Corporation., Covestro AG, and LG Chem. among others. 

Key Developments: 

• • In 2021, BASF introduces VALERAS™, a new brand for its plastic additives portfolio that aim to increase the sustainability of plastics along the entire polymer value chain and enables customers to achieve their sustainability goals
  • In 2021, Eastman Chemical Company, Board Chair and CEO Mark Costa and Tennessee Governor Bill Lee announced the company’s plans to build one of the world’s largest plastic-to-plastic molecular recycling facilities at its site in Kingsport, Tenn. Through methanolysis, this world-scale facility will convert polyester waste that often ends up in landfills and waterways into durable products, creating an optimized circular economy.

Segments covered in the Report:

The global injection molded plastics market has been segmented on the basis of raw material, application, and key regions. Based on raw material, the market is segmented into polypropylene, acrylonitrile butadiene styrene, polystyrene and polyethylene. Based on application, the market is segmented automotive and transportation, electronics & consumer goods, packaging, healthcare, and others. 

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Market Segmentation

Global Injection Molded Plastics Market by Raw material

• • Polypropylene
  • Acrylonitrile butadiene styrene,
  • Polystyrene and
  • Polyethylene

Global Injection Molded Plastics Market by Application

• • Automotive and Transportation
    • Electronics & Consumer Goods
    • Packaging
    • Healthcare
    • Others

Global Injection Molded Plastics Market by Region

• • North America Injection Molded Plastics Market (Option 1: As a part of the free 25% customization)

    • North America Injection Molded Plastics Market by Raw material
    • North America Injection Molded Plastics Market by Application
    • US Injection Molded Plastics Market All-Up
    • Canada Injection Molded Plastics Market All-Up

  • Europe Injection Molded Plastics Market (Option 2: As a part of the free 25% customization)

    • Europe Injection Molded Plastics Market by Raw material
    • Europe Injection Molded Plastics Market by Application
    • UK Injection Molded Plastics Market All-Up
    • Germany Injection Molded Plastics Market All-Up
    • France Injection Molded Plastics Market All-Up
    • Spain Injection Molded Plastics Market All-Up
    • Rest of Europe Injection Molded Plastics Market All-Up

  • Asia-Pacific Injection Molded Plastics Market (Option 3: As a part of the free 25% customization)

    • Asia-Pacific Injection Molded Plastics Market by Raw material
    • Asia-Pacific Injection Molded Plastics Market by Application
    • China Injection Molded Plastics Market All-Up
    • India Injection Molded Plastics Market All-Up
    • Japan Injection Molded Plastics Market All-Up
    • Rest of APAC Injection Molded Plastics Market All-Up

  • RoW Injection Molded Plastics Market (Option 4: As a part of the free 25% customization)

    • RoW Injection Molded Plastics Market by Raw material
    • RoW Injection Molded Plastics Market by Application
    • Brazil Injection Molded Plastics Market All-Up
    • South Africa Injection Molded Plastics Market All-Up
    • Saudi Arabia Injection Molded Plastics Market All-Up
    • UAE Injection Molded Plastics Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Injection Molded Plastics Market All-Up

Major Players Operating in the Injection Molded Plastics Market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • BASF SE
  • DOW
  • Eastman Chemical Company
  • Exxon Mobil Corporation
  • Huntsman International LLC.
  • INEOS
  • Mitsubishi Engineering Plastics
  • Celanese Corporation. 
  • Covestro AG
  • LG Chem.