The global injection molded plastics market size was US$ 290.4 billion in 2021. The global injection molded plastics market size is forecast to reach US$ 521.4 billion by 2032, growing at a compound annual growth rate (CAGR) of 5.30% during the forecast period from 2022 to 2032.
By injecting molten material into a mold, where it is melted, cooled, and solidified to create the finished product, injection molding is a manufacturing method used to create plastic parts. In order to ensure accuracy and reduce waste, this procedure is employed in the manufacturing of many delicate and complex-shaped items. Plastics that have been injection-molded are utilized to make several assembly parts, packaging, and interior wrapping materials. Thermoplastic, thermoset, and elastomeric materials are the three types of materials used in the injection molding process.
Factors Influencing Market Growth
The rising demand for plastic components from various end-use industries, including automotive, packaging, home appliances, electrical & electronics, and medical devices drive the global market.
The changes in prices of raw materials, such as benzene, ethylene, propylene, and styrene, and the increasing concerns regarding their environmental effect may slow down the overall market growth.
Less production waste and a rising production process boost the global market growth.
The technological advancements in molding technology are forecast to offer lucrative opportunities for the global market.
Impact Analysis of COVID-19
The COVID-19 pandemic had a negative impact on the global market. Several governments worldwide enacted lockdowns in order to curb the virus from spreading. This led to travel restrictions, which impacted the supply of injection molded plastics. In addition, due to the closure of various end-users, the demand for the product decreased.
However, with the lift in lockdown owing to the availability of vaccines, the market is growing at a steady rate and is forecast to have substantial growth over the forecast period.
The Asia Pacific region garnered a substantial market share in 2021 and is forecast to remain dominant during the forecast period. As a result of the rising infrastructure spending and the increasing automobile demand. In addition, the tax benefits offered by the government to manufacturers have increased the shifting of manufacturing base to countries such as India, China, Indonesia, and Thailand.
Europe is forecast to have considerable growth during the forecast period. As a result of the rising demand for electronic appliances, such as laptops and cellular phones, and the growing automotive sector.
The leading prominent companies profiled in the global injection molded plastics market are:
DuPont de Nemours, Inc.
Huntsman International LLC
Eastman Chemical Company
LyondellBasell Industries Holdings B.V.
Magna International, Inc.
Berry Global, Inc.
Master Molded Products Corp.
HTI Plastics, Inc.
Lacks Enterprises, Inc.
The Rodon Group
Other Prominent Players
Scope of the Report
The global injection molded plastics market segmentation focuses on Raw Material, Application, and Region.
Segmentation based on Raw Material
Acrylonitrile Butadiene Styrene (ABS)
High-Density Polyethylene (HDPE)
Others (Polyamide and Polyvinyl Chloride)
Segmentation based on Application
Electrical and Electronics
Automotive and Transportation
Building and Construction
Segmentation based on Region
Rest of Western Europe
Rest of Eastern Europe
Australia & New Zealand
Rest of Asia Pacific
Middle East & Africa (MEA)
Rest of MEA
Rest of South America
Meta Title: Injection Molded Plastics Market Size, Share, Insight and Forecast 2022 to 2032
Meta Description: Global Injection Molded Plastics Market is projected to reach US$ 521.4 billion by the end of 2032 from US$ 290.4 billion in 2021, at a CAGR of 5.30%
Meta Keywords: injection molded plastics market Size, injection molded plastics market share, injection molded plastics market trend, injection molded plastics market Forecast, injection molded plastics market insight