Portland, OR, March 28, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global molded plastics market generated $573.3 billion in 2021 and is estimated to reach $869.2 billion by 2031, witnessing a CAGR of 4.3% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.
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Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $573.3 Billion |
| Market Size in 2031 | $869.2 Billion |
| CAGR | 4.3% |
| No. of Pages in Report | 282 |
| Segments Covered | Product, Technology, Application, and Region |
| Drivers | Increase in awareness regarding hygiene-related activities Rise in investments in building infrastructure |
| Sustainable economic growth coupled with the increased demand for consumer goods | |
| Opportunities | The emergence of bioplastics at low prices surged the demand for molded bioplastics in various end use sectors Increased attempts of both developed and developing economies to promote sustainable products Growth in concentration of manufacturers |
| Availability of feedstock at reduced price | |
| Arrival of local players has led the manufacturers to offer molded plastics at low price | |
| Restraints | Production process releases various toxic chemicals that if exposed beyond a limit may cause several health-related issues |
Covid-19 Scenario:
- The major end-users of molded plastics such as building & construction, packaging, automotive, industrial, and electrical & electronics had been negatively impacted due to the pandemic outbreak.
- The global molded plastics supply chain was hampered due to the increased supply-demand gap by the global health crisis. Also, several electronics companies that use molded plastics as an insulating material in various consumer electronics products shut down their operations due to the risk of infection spread among the workforce.
- The consumption of molded plastics reduced among several end-users during the pandemic, owing to the sealing of international borders by several countries. In addition, the falling income of builders led to a contraction of the demand for molded plastics from the building & construction sector.
- Moreover, the global molded plastic market is growing rapidly post the pandemic.
The report offers a detailed segmentation of the global molded plastics market based on product, technology, application, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
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Based on product, the polypropylene segment contributed to more than one-fifth of the global molded plastic market and is projected to maintain its dominance by 2031. On thew other hand, the engineering plastics segment would display the fastest CAGR of 4.8% throughout the forecast period.
Based on technology, the injection molding segment accounted for the highest share in 2021, for more than half of the global molded plastics market revenue and is expected to continue its lead during the forecast period. Also, the same segment would manifest the fastest CAGR of 4.4% from 2022 to 2031.
Based on application, the packaging segment held the largest share in 2021, accounting for nearly two-fifths of the global molded plastics market and would dominate the market in terms of revenue during the forecast period. However, the building and construction segment would cite the fastest CAGR of 4.7% throughout the forecast period.
Based on region, Asia-Pacific held the major share in 2021, contributing to nearly half of the global molded plastics market revenue and is expected to rule the roost in terms of revenue from 2022 to 2031. Also, the same region would showcase the fastest CAGR of 4.9% during the forecast period.
The key market players analyzed in the global molded plastics market report include China Plastic Extrusion Ltd., DuPont, Mitsubishi Chemical Corporation, Petro Packaging Company, Inc, PSI Molded Plastics, Atlantis Plastics, Inc., EASTMAN CHEMICAL COMPANY, GSH Industries, Mitsui Chemicals Inc, and Pexco LLC. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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