New York, United States, July 14, 2022 (GLOBE NEWSWIRE) -- Injection Molding is a manufacturing technique for producing plastic products such as components and parts, which are used across various end-user industries. Plastic injection molding is chiefly used in packaging applications to manufacturing packaging parts and components to increase the aesthetic value and consumer friendliness of the packaging products. Additionally, injection-molded plastics have various benefits such as increased shelf life of food products, increased durability, optical clarity, and reduced wear & tear.
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Demand from Packing Industry and Electronics Sectors Propelling Global Market
Plastics are widely used, similar to glass, and can be used as substitutes in frozen food packaging, vegetable packaging, bakery packaging, and ready meal packaging owing to their characteristics such as reduced packaging weight and availability of a wide range of packaging designs. The changing consumers’ preference and demand for packaged water and food are increasing the need for plastics. In regions such as Asia-Pacific, North America, and Europe, the demand for pharmaceuticals has increased at a rapid rate. This is predicted to increase the demand for plastic injection molded plastics for pharmaceutical packaging applications. On account of these factors, the growing demand for plastics in various packaging applications is expected to boost the growth of the global injection molded plastics market.
As electronic parts are reduced in size, micro injection molding and very high molding tolerances provide high precision molding that allows high quality while creating smaller parts for smaller products. Some of the electronic components where injection molding is commonly used are earphone cables and plugs, LEDs and assemblies, motor housings, electrical relays and switches, sensors, temperature control, inkjet printers, computer boards, and housings, cell phone components and covers, electrical conduit, electrical tool housings, and many more. The global consumer electronics industry has been growing rapidly worldwide over the years, owing to the consistently increasing demand for electronic gadgets. This increasing electronic usage is demanding molded plastics surging the global market.
Report Scope
| Report Metric | Details |
| Market Size | USD 15.73 Billion by 2030 |
| CAGR | 4% (2022-2030) |
| Historical Data | 2019-2020 |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Raw Material, By Application, By Region |
| Geographies Covered | North America, Europe, Asia-Pacific, LAME and Rest of the World |
| Key Companies Profiled/Vendors | ALPLA,Amcor PLC,AptarGroup Inc. (CSP Technologies),BERICAP,Berry Global Inc.,EVCO Plastics,HTI Plastics,IAC Group,Magna International,Quantum Plastics,Silgan Holdings Inc,The Rodon Group |
| Key Market Opportunities | Modern Technology in Auto Industry and Demand for Electric Vehicle propelling Global Market |
| Key Market Drivers | Increasing Demand in Packaging Industry boosting Market High Usage of Electronics and Consumer Goods enhancing Global Market |
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Impact of COVID-19
The outbreak of COVID-19 has consequences in various industries, such as transportation, electronics, automotive, and other industrial manufacturing, which may affect the plastic injection molding market. Since demand for plastic injection molding is associated with the electronics and automotive industry that is directly linked to the GDP growth, this situation is creating many challenges for the global plastic injection molding market.
Owing to the pandemic impact, the activity in the commercial aerospace market may take a long duration to return to the levels observed in early 2020. The spread of COVID-19 further impacted the electronics supply chain and created a shortage of components like chips, semiconductors, circuit boards, and other components. This shortage in the supply chain led many automotive manufacturers and consumer electronics manufacturer to halt their production or produce with reduced capacity.
Regional Analysis of Global Plastic Injection Molding Market
Asia-Pacific will hold the largest market share during the forecast period due to increasing demand for plastics in various industries, especially in healthcare, automotive, electronics, pharmaceuticals, packaging, baby products, and construction. The Asia-Pacific blow-molded plastic market was valued at USD 45562 million in 2021 and is expected to be valued at USD 71046 million by 2030 at a CAGR of 5%. Europe will account for the second-largest market share and was valued at USD 41821 million in 2021, owing to the increasing demand in construction, healthcare technology, and food packaging.
North America will witness steady growth, with the US occupying the majority of market value. Developing medical technologies, increasing usage of smartphones, the need for lightweight car components, and developing the construction industry will boost the market share. South America and Middle East & Africa will account for competitively lower growth, owing to the developing economy and the pandemic impact.
Key Highlights:
- The Global Plastic Iinjection Molding Market was valued at USD 11385 million in 2021 and is anticipated to generate USD 15734 million by 2030. The market is projected to grow at a CAGR of 4% during the forecast period (2022–2030).
- Based on the types of raw materials used, polypropylene is the major shareholder in the global plastic injection molding market. The polypropylene segment is projected to generate USD 70652 million in 2030 and grow at a CAGR of 4% by 2030.
- Based on application, the packaging segment is the largest market holder. The global packaging industry segment is projected to generate USD 60587 million in 2030 and grow at a CAGR of 4% by 2030.
- Geographically, the market is divided into North America, Europe, Asia-Pacific, South America, and Middle East and Africa. The market in Asia-Pacific is valued at 71046 million by 2030 at a CAGR 5% during the forecast period
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The key players in the global plastic injection molding market are
- ALPLA
- Amcor PLC
- AptarGroup Inc. (CSP Technologies)
- BERICAP, Berry Global Inc
- EVCO Plastics
- HTI Plastics
- IAC Group
- Magna International
- Quantum Plastics
- Silgan Holdings Inc
- The Rodon Group
Global Plastic Injection Molding Market – Segmentation
By Raw Material
- Polypropylene
- Acrylonitrile Butadiene Styrene (ABS)
- Polystyrene
- Polyethylene
- Polyvinyl Chloride (PVC)
- Polycarbonate
- Polyamide
- Other Raw Materials
By Application
- Packaging
- Building and Construction
- Consumer Goods
- Electronics
- Automotive and Transportation
- Healthcare
- Other Applications
By Region
- Asia-Pacific
- North America
- Europe
- South America
- Middle East and Africa
TABLE OF CONTENT
1 Introduction
1.1 Market Definition
1.2 Market Scope
2 Research Methodology
2.1 Primary Research
2.2 Research Methodology
2.3 Assumptions & Exclusions
2.4 Secondary Data Sources
3 Executive Summary
4 Market Overview
4.1 Report Segmentation & Scope
4.2 Value Chain Analysis: Plastic Injection Molding Market
4.2.1 Vendor Matrix
4.3 Key Market Trends
4.3.1 Drivers
4.3.2 Restraints
4.3.3 Opportunities
4.4 Porter’s Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Environment & Regulatory Landscape
4.6 Forecast Factors & Relevance of Impact
4.7 Macro-Economic & Geopolitical Scenario
4.8 Parent Market Overview
4.9 Technology Landscape
4.10 Market Share Analysis
4.11 Potential Venture Analysis
4.12 Regional Price Trends
4.13 Raw Material Trends
4.14 Cost Structure Analysis
4.14.1 Labor Cost
4.14.2 Consumables
4.14.3 Maintenance Cost
4.15 Covid-19 Impact Analysis:
4.15.1 Pre and Post Covid-19 Market Scenario Analysis
4.15.2 Market Recovery Timeline and Challenge
4.15.3 Measures Taken by Top Players
4.15.4 Quarterly Market Revenue and Growth Forecast till 2021
4.15.4.1 North America
4.15.4.2 Europe
4.15.4.3 Asia-Pacific
4.15.4.4 Central and South America and the Caribbean
4.15.4.5 The Middle East and Africa
5 Raw Material Overview
5.1 Introduction
5.1.1 Market Size & Forecast (Value & Volume)
5.2 Polypropylene
5.2.1 Market Size & Forecast (Value & Volume)
5.3 Acrylonitrile Butadiene Styrene (ABS)
5.3.1 Market Size & Forecast (Value & Volume)
5.4 Polystyrene
5.4.1 Market Size & Forecast (Value & Volume)
5.5 Polyethylene
5.5.1 Market Size & Forecast (Value & Volume)
5.6 Polyvinyl Chloride (PVC)
5.6.1 Market Size & Forecast (Value & Volume)
5.7 Polycarbonate
5.7.1 Market Size & Forecast (Value & Volume)
5.8 Polyamide
5.8.1 Market Size & Forecast (Value & Volume)
5.9 Other Raw Materials
5.9.1 Market Size & Forecast (Value & Volume)
6 Application Overview
6.1 Introduction
6.1.1 Market Size & Forecast (Value & Volume)
6.2 Packaging
6.2.1 Market Size & Forecast (Value & Volume)
6.3 Building and Construction
6.3.1 Market Size & Forecast (Value & Volume)
6.4 Consumer Goods
6.4.1 Market Size & Forecast (Value & Volume)
6.5 Electronics
6.5.1 Market Size & Forecast (Value & Volume)
6.6 Automotive and Transportation
6.6.1 Market Size & Forecast (Value & Volume)
6.7 Healthcare
6.7.1 Market Size & Forecast (Value & Volume)
6.8 Other Applications
6.8.1 Market Size & Forecast (Value & Volume)
7 Regional Overview
7.1 Introduction
7.1.1 Market Size & Forecast (Value & Volume)
7.2 North America
7.2.1 Economic Overview
7.2.2 Market Scenario
7.2.3 U.S.
7.2.4 Canada
7.2.5 Mexico
7.3 Central and South America and the Caribbean
7.3.1 Economic Overview
7.3.2 Market Scenario
7.3.3 Brazil
7.3.4 Argentina
7.3.5 Colombia
7.3.6 Rest of Central and South America and the Caribbean
7.4 Europe
7.4.1 Economic Overview
7.4.2 Market Scenario
7.4.3 Germany
7.4.4 France
7.4.5 The U.K.
7.4.6 Italy
7.4.7 The Rest Of Europe
7.5 Asia-Pacific (APAC)
7.5.1 Economic Overview
7.5.2 Market Scenario
7.5.3 China
7.5.4 Japan
7.5.5 India
7.5.6 Australia
7.5.7 South Korea
7.5.8 Rest Of APAC
7.6 Middle East
7.6.1 Economic Overview
7.6.2 Market Scenario
7.6.3 South Arabia
7.6.4 The UAE
7.6.5 Qatar
7.6.6 Oman
7.6.7 Turkey
7.6.8 The Rest Of Middle East
7.7 Africa
7.7.1 Economic Overview
7.7.2 Market Scenario
7.7.3 Nigeria
7.7.4 South Africa
7.7.5 The Rest Of Africa
8 Competitive Landscape — Manufacturers & Suppliers
8.1 Competition Dashboard
8.2 Industry Structure
8.3 ALPLA
8.3.1 Business Overview
8.3.2 Financial Performance
8.3.3 Recent Developments
8.3.4 Portfolio
8.4 Amcor PLC
8.5 AptarGroup Inc. (CSP Technologies)
8.6 BERICAP
8.7 Berry Global Inc.
8.8 EVCO Plastics
8.9 HTI Plastics
8.10 IAC Group
8.11 Magna International
8.12 Quantum Plastics
8.13 Silgan Holdings Inc
8.14 The Rodon Group
9 Conclusion & Recommendation
10 Acronyms & Abbreviations
Table of Content and Figure @ https://straitsresearch.com/report/plastic-injection-molding-market/toc
Market News:
- In November 2020, ALPLA and International Dispensing (IDC) signed for a strategic alliance for transitioning the International Dispensing’s manufacturing platform to the ALPLA’s injection molding plant in Toluca of Mexico, which will start manufacturing the Answer tap in the first quarter of 2021.
- In October 2020, AptarGroup Inc. entered an agreement with Fusion Packaging to cater to market demands for fast beauty solutions with differentiated design and decorative offerings.
- In February 2020, Silgan Holdings Inc. acquired Cobra Plastics, a manufacturer of injection molded plastics.
- In January 2020, HTI plastics added two injection molding machines (50 and 80 to capacity) to its inventory, increasing its production capacity.
- In January 2020, EVCO Plastics expanded its production capacity by adding a facility of 31 thousand square foot in Oshkosh, Wisconsin to meet molding demand across industries and applications.
- In March 2018, Quantum Plastics acquired Raleigh Precision Products Inc., an injection molding company.
News Media
Industrial Fasteners Market to Expand at an Astounding Healthy CAGR During Forecast Period
Widescale Applications of Plastics to Ascend the Blow Molded Plastic Market
Demand From Medical Industry and Investments in R&D Will Drive Global Cyclic Copolymer Market
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