Hyderabad, July 21, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Plastics Injection Molding Market Report (2023-2028)," the market is estimated at 144,607.11 kilotons in 2023. It is expected to register a CAGR of 4.18% during the forecast period.
Plastic injection molding offers solutions like providing high-volume packaging to bottle molds and thin-wall containers. These solutions are used primarily for packaging in several end-user industries. Plastic molding helps lower the consumption of plastics, is a versatile choice for packaging, and is an economical and eco-friendly solution.
Report Summary:
| Report Attribute | Details |
| Market Volume (2023) | 144,607.11 kilotons |
| Market Volume (2028) | 177,464.47 kilotons |
| CAGR (2023-2028) | 4.18% |
| Study Period | 2018-2028 |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | Increased demand for consumer goods and electronics. |
| The increasing demand for plastic injection molding from the residential construction sector. |
Which are the Top Companies in the Plastics Injection Molding Market?
The plastics injection molding market is fragmented in nature. Its major players occupy a marginal market share. The players are using strategies like capacity expansion and investments to sustain themselves in the market.
Prominent players in the plastics 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
Other Reports That Might Be of Your Interest:
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- Polyamides Market Report - The polyamides market size is estimated at USD 17.3 billion in 2023. It is expected to reach USD 25.2 billion by 2028, registering a CAGR of 6.44% during the forecast period (2023-2028).
Key Highlights from the Plastics Injection Molding Market Report:
Packaging Segment May Occupy Maximum Market Share
- Plastic injection molding is used extensively for packaging in various end-user industries as it reduces the consumption of plastic and is an eco-friendly and economical solution.
- The packaging industry is evolving rapidly due to the increasing population, rising disposable incomes in developing countries, and the growing retail sector, thereby increasing the demand for plastic molding as a smart packaging solution.
Asia-Pacific is Likely to Dominate the Market
- China is among the leading economies in Asia-Pacific. The country’s packaging industry is expected to record strong growth, which is expected to increase the demand for plastic injection molding.
- The country’s growing residential construction sector is expected to further increase the demand for plastic injection molding.
What are the Latest Developments in the Plastics Injection Molding Market?
- In October 2022, Evco Plastics proposed to increase its manufacturing capacity by investing USD 11 million in Wisconsin, United States. The company now operates 183 injection molding machines.
- In July 2022, ALPLA made an investment of USD 850,000 for a mold shop in India. The outlet is expected to be the company’s third such shop after Germany and Austria. The Indian outlet is expected to develop local solutions with advanced technology.
Mordor Intelligence has Segmented the Plastics Injection Molding Market Based on Raw Material Type, Applications, and Geography:
- By Raw Material Type (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Polypropylene
- Acrylonitrile Butadiene Styrene (ABS)
- Polystyrene
- Polyethylene
- Polyvinyl Chloride (PVC)
- Polycarbonate
- Polyamide
- Other Raw Materials
- By Applications (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Packaging
- Building and Construction
- Consumer Goods
- Electronics
- Automotive and Transportation
- Healthcare
- Other Applications
- By Geography (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- United Kingdom
- Italy
- France
- Rest of Europe
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East and Africa
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Plastics Injection Molding Market Report (2023-2028).
Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:
- Middle East Biodegradable Plastics Market Report - The Middle Eastern biodegradable plastics market is expected to register a CAGR of over 14% during the forecast period (2023-2028).
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- Polyethylene Foam Market Report - The polyethylene foam market is expected to register a CAGR of more than 3.00% during the forecast period (2023-2028).
About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
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