Injection Molded Plastics Market to be Worth $423.7 Billion by 2030: Million Insights

FELTON, Calif., Nov. 8, 2022 /PRNewswire/ -- The global injection molded plastics market size was USD 284.7 billion in 2021, which is projected to increase at a 4.2% CAGR and achieve USD 423.7 billion by 2030. The presence of plastic components in various end-use sectors, technological innovations, and price volatility of raw materials are the factors to drive the demand for injected molded plastics and its market growth during the forecast period.

Key Industry Insights & Findings from the report:

• Based on raw material insights, the polypropylene segment upheld 34% of revenue share in 2021 owing to its penetration in food packaging, electrical contacts, and battery housings.
• In 2021, acrylonitrile butadiene styrene (ABS) was the second-largest raw material due to its extensive use in electronic housing, medical devices, automotive components, and consumer appliances.
• Based on application insights, the packaging segment accounted for the largest revenue share of 30% owing to properties of increased durability, long shelf-life, resistance to tear, and suitable wear.
• Based on regional insights, Asia Pacific dominated the market with a 39% revenue share and is anticipated to propel the market penetration with an increase in demand for automobiles in Malaysia, China, India, and Indonesia.
• Based on technological advancement, resin formulations were evolved in 2021 with the aim to make injection-molded plastics more durable, provide strength, and lower the weight capacity.

Read 140 page full market research report for more Insights, "Injection Molded Plastics Market Size, Share & Trends Analysis Report, By Raw Material, By Application, By Region And Segment Forecasts From 2022 To 2030", published by Million Insights.

Injection Molded Plastics Market Growth & Trends 

The market challenge for increasing concerns about the disposal of raw materials also negatively affects the environment. To combat this, global companies have intended to make use of bio-based counterparts for manufacturing of injection-molded plastics. Therefore, the use of biodegradable polymers is regarded as a renewable resource to produce plastics without leading to environmental hazards. 

The governments in India and China have made initiatives to boost foreign direct investments particularly include attracting financial investments and offering tax benefits, that is likely to boost market growth in the forecast period. Besides, the low labor costs have resulted in reduced manufacturing costs, which have augmented plastic products' production. 

Injection Molded Plastics Market Segmentation

Million Insights has segmented the global injection molded plastics market on the basis of raw material, application, and region:

Injection Molded Plastics Market - Raw Material Outlook (Volume, Kilotons, Revenue, USD Million, 2019 - 2030)

• Polypropylene (PP)
• Acrylonitrile Butadiene Styrene (ABS)
• High-Density Polyethylene (HDPE)
• Polystyrene (PS)
• Others

Injection Molded Plastics Market - Application Outlook (Volume, Kilotons, Revenue, USD Million, 2019 - 2030)

• Packaging
• Consumables & Electronics
• Automotive & Transportation
• Building & Construction
• Medical
• Others

Injection Molded Plastics Market - Regional Outlook (Volume, Kilotons, Revenue, USD Million, 2019 - 2030)

• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Asia Pacific
• China
• India
• Japan
• Central & South America
• Brazil
• Middle East & Africa
• Saudi Arabia

List of Key Players of Injection Molded Plastics Market

• ExxonMobil Corp.
• BASF SE
• DuPont de Nemours, Inc.
• Dow, Inc.
• Huntsman International LLC
• Eastman Chemical Company
• INEOS Group
• LyondellBasell Industries Holdings B.V.
• SABIC
• Magna International, Inc.
• IAC Group
• Berry Global, Inc.
• Master Molded Products Corp.
• HTI Plastics, Inc.
• Rutland Plastics
• AptarGroup, Inc.
• Lacks Enterprises, Inc.
• The Rodon Group
• Heppner Molds

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