New York, NY, Dec. 14, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Molded Plastics Market by Type (Polyethylene (PE), Polypropylene (PP), Polyvinyl Chloride (PVC), Polyethylene Terephthalate (PET), Polystyrene (PS), Polyurethane (PU), and Others) and by Application (Packaging, Automotive & Transportation, Construction & Infrastructure, Electronics & Electrical, Pharmaceutical, Agriculture, and Other Applications): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017 – 2024”. According to the report, the global molded plastics market was valued at USD 331.65 billion in 2017 and is expected to reach USD 505.30 billion by 2024, growing at a CAGR of 6.2% between 2018 and 2024.
Molded plastics are a range of plastic materials that are utilized in a varied range of applications, such as precision parts, functional parts, etc., for industrial machinery, automotive, and small precision.
Browse through 92 Tables & 31 Figures spread over 110 Pages and in-depth TOC on “Global Molded Plastics Market Size & Share 2017: By Type, Applications, Trends, Growth Analysis and Forecast 2024”.
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The automotive industry is one of the fastest growing end-users of the molded plastics market. The global molded plastic market growth is directly attributed to the growing automotive industry. The increasing use of molded plastic components in automotive is expected to witness significant growth over the forecast time period, thereby fuelling the market growth. However, the volatile raw materials prices might hamper the expansion of the molded plastics market. The manufacturers are focusing on introducing new products, thereby creating new growth avenues for the molded plastics market in the upcoming years.
By type, the molded plastics market is divided as polyethylene (PE), polypropylene (PP), polyvinyl chloride (PVC), polyethylene terephthalate (PET), polystyrene (PS), polyurethane (PU), and others. Polyethylene (PE) dominated the market and held a major market share in 2017. PE is expected to grow at the highest CAGR in the upcoming years, due to its usage in the consumer goods, especially in the packaging industry. Polyethylene terephthalate (PET) segment is projected to witness lucrative growth in the future, due to its wide-ranging use for manufacturing food and beverage containers. By application, the molded plastics market is mainly segmented into packaging, construction and infrastructure, automotive and transportation, pharmaceutical, electronics and electrical, agriculture, and others. In 2017, packaging dominated the molded plastics market globally, due to the rising product demand in automotive, packaging, construction particularly in Brazil, Russia, India, China, and South Africa.
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In 2017, Asia Pacific was the largest market for molded plastics. In terms of value, Asia Pacific is estimated to grow at the highest rate in the future. China and India are the major regional markets for molded plastics, due to the rising product demand in automotive, construction, and packaging industries. Additionally, Asia Pacific region is anticipated to be the center of growing urbanization and industrialization activities, which, in turn, is anticipated to fuel the Asia Pacific molded plastics market.
Europe was the second largest molded plastic market in 2017. The flourishing packaging sector in Germany, France, and the UK is likely to foster market progress in the upcoming years. The region’s molded plastics market is likely to be influenced by the growing automotive and food packaging industries. The food and beverages packaging include cosmetics, household chemicals pharmaceutical, toiletries and increasing need for electronic applications, such as mobiles, laptops especially in UK, Germany, and France, are projected to fuel the European molded plastics market in the future.
Browse the full "Molded Plastics Market by Type (Polyethylene (PE), Polypropylene (PP), Polyvinyl Chloride (PVC), Polyethylene Terephthalate (PET), Polystyrene (PS), Polyurethane (PU), and Others) and by Application (Packaging, Automotive & Transportation, Construction & Infrastructure, Electronics & Electrical, Pharmaceutical, Agriculture, and Other Applications): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017 – 2024" Report At https://www.zionmarketresearch.com/report/molded-plastics-market
The North American molded plastics market is expected to witness sustainable growth in the future. This can be attributed to the exponential surge in the industrial activities and the increasing usage of molded plastics witnessed in automotive and transportation, construction, and infrastructure sectors. Furthermore, the rising industrial activities in the U.S and Canada are anticipated to elevate this regional market’s profit margin in the upcoming years.
Latin American and the Middle Eastern and African markets are projected to experience lucrative growth over the forecast timeframe, owing to significant investments made by the global players in the molded plastics ventures. The molded plastics market growth in these regions is likely to gain traction due to the rise in the regional economic activities. The GCC countries are likely to play a vital role in the expansion of the regional molded plastics market.
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The major players operating in the global molded plastics market are ExxonMobil, DowDuPont Inc., LyondellBasell Industries N.V., INEOS, SABIC, Formosa Plastics Corporation, Solvay, Eastman Chemical Company, Reliance Industries Limited, Chevron Corporation, Borealis AG, China National Petroleum Corporation, LG Chem Ltd., and Versalis S.p.A., among others.
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This report segments the global molded plastics market as follows:
Global Molded Plastics Market: Type Analysis
- Polyethylene (PE)
- Polypropylene (PP)
- Polyvinyl Chloride (PVC)
- Polyethylene Terephthalate (PET)
- Polystyrene (PS)
- Polyurethane (PU)
- Others
Global Molded Plastics Market: Application Analysis
- Packaging
- Automotive & Transportation
- Construction & Infrastructure
- Electronics & Electrical
- Pharmaceutical
- Agriculture
- Others
Global Molded Plastics Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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