The global injection molded plastics market is expected to reach USD 478.72 billion by 2025
NEW YORK, May 22, 2019 /PRNewswire/ --
Injection Molded Plastics Market Size, Share & Trends Analysis Report By Raw Material (Polypropylene, ABS, HDPE, Polystyrene), By Application (Packaging, Electronics, Medical), And Segment Forecasts, 2019 - 2025
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The global injection molded plastics market is expected to reach USD 478.72 billion by 2025 It is anticipated to register a CAGR of 5.7% during the forecast period. Growing demand from key applications including automotive, packaging, and construction particularly in the Brazil, Russia, India, China, and South Africa (BRICS) nations, is likely to drive the growth. The high-growth regions such as Middle East and Asia Pacific There have witnessed a surge in capacity addition over the last few years.
Increasing presence of plastic injection molding companies in China on account of low manufacturing costs and ample availability of skilled labor is anticipated to benefit the regional market.Major foreign companies are increasing their production capabilities in the region, owing to growing demand for plastic products.
Government support in the form of tax benefits and financial incentives in China and India to increase the FDI flow has helped develop the market for plastics in these countries.
In packaging application, High density polyethylene (HDPE) is extensively used in thin wall injection molding.Growing packaging demand from food, bin liners, and thing gauge bags is anticipated to drive its growth over the forecast period.
Rising penetration of injection molded HDPE in shipping containers, industrial pails, and house ware application is anticipated to further drive its demand over the forecast period.
Further key findings from the report suggest:
-- Demand for packaging is likely to rise owing to the improving economic conditions of countries such as India, Brazil, Mexico, and Russia
-- Demand for injection molding from the packaging industry in Asia Pacific will reach 72,902.2 kilo tons by 2025 at a CAGR of 4.5% from 2019 to 2025
-- Growth of electronics industry coupled with cost effectiveness of electrical appliances is projected to remain a key driving factor for the next eight years
-- Demand from medical sector in North America is anticipated expand at an estimated CAGR of 6.4% from 2019 to 2025. Demand from U.S. is anticipated to reach 30,572.3 kilo tons by 2025
-- Packaging was the leading application segment in France injection molded plastics market and registered 1,056.9 kilo tons in 2018
-- Production in Middle East and Africa is driven by rising product demand from Asia Pacific and European countries
-- Demand for polypropylene from Saudi Arabia is anticipated to reach 2,285.5 kilo tons by 2025, at a CAGR of 4.4% from 2019 to 2025
-- Major market players include BASF, LyondellBasell, Eastman Chemical Company, ExxonMobil, Huntsman Corporation, Eastman Company, DuPont, Dow Chemicals, and SABIC.
Read the full report: https://www.reportlinker.com/p05763797/?utm_source=PRN
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