Dublin, Feb. 27, 2023 (GLOBE NEWSWIRE) -- The "Molded Plastics Market by Type (PE, PP, PVC, PET, PS, PU), Application (Packaging, Automotive & Transportation, Construction & Infrastructure, Electronics & Electrical, Pharmaceutical, Agriculture), and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global molded plastics market size is projected to reach USD 675.7 billion by 2027 from USD 499.1 billion in 2022, at a CAGR of 6.2% during the forecast period. The market is driven by various factors such as high demand from the packaging industry due to its material flexibility, low weight, and high efficiency and shift from single-use plastic to sustainable & recyclable plastics. Furthermore, growing demand from emerging economies such as India, China, and Brazil is expected to boost the growth of the molded plastics market.
Polypropylene segment is the second-largest growing segment amongst types in the molded plastics market
Molded plastics market is segmented as PP, PE, PVC, PET, PS, PU, and others based on the types of polymers. Polypropylenes are the majorly commercialized type of polymer extensively used in the molded plastics and hence account for the second-larger market share of the market as compared to the other type of polymers. PP-based molded plastics are cost-effective, has a low coefficient of friction, tough, and good chemical resistant as compared to the other types, which is one of the driving factors for this segment.
Injection molding segment to be the largest segment amongst technologies in the overall molded plastics market during the forecast period
Molded plastics market is segmented into blow molding, injection molding, extrusion molding, and rotational molding based on technology. The injection molding technique involves the injection of melted plastics into the mold, where molds have cavities forming the parts. The molten plastic fills the cavities and the rest of the mold. Almost all polymers can be molded using injection molding thereby boosting its demand in various applications.
Packaging to grow at a highest growth rate amongst applications in the overall molded plastics market
Based on application, the molded plastics market is segmented into packaging, automotive & transportation, and construction & infrastructure, agriculture, pharmaceutical, electronics & electrical, and other applications. Packaging accounts for the highest market share of molded plastics market. Rising preference for biodegradable polymers is driving the demand of molded plastics in the packaging applications.
Asia Pacific estimated to be the largest and the fastest growing region in the molded plastics market during the forecast period
Asia Pacific is the largest market for molded plastics. This large market share is primarily attributed to the presence of various developing nations in the region. The nations including China and India are witnessing rising industrialization, growing population, and an increasing awareness about the environment forcing to use sustainable plastics, is driving the molded plastics market in the region.
Market Dynamics
Drivers
- Rising Demand from Packaging Application
- Growth of the Automotive Industry
- Positive Outlook for Construction Industry
- Increasing Demand for Sustainable Plastics
Restraints
- Stringent Regulations
- Volatility in Raw Material Prices
Opportunities
- Rising Population and Urbanization in Emerging Economies
- Increasing Demand for Electric Vehicles
- Rising Adoption of 3D Printing Plastic Composites
Challenges
- Disposal of Molded Plastics
- High Cost of Recycling
| Report Attribute | Details |
| No. of Pages | 226 |
| Forecast Period | 2022 - 2027 |
| Estimated Market Value (USD) in 2022 | $499.1 Billion |
| Forecasted Market Value (USD) by 2027 | $675.7 Billion |
| Compound Annual Growth Rate | 6.2% |
| Regions Covered | Global |
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Molded Plastics Market, by Technology
7 Molded Plastics Market, by Type
8 Molded Plastics Market, by Application
9 Molded Plastics Market, by Region
10 Competitive Landscape
11 Company Profiles
12 Appendix
Companies Mentioned
- BASF SE
- Chevron Corporation
- China Plastic Extrusion Ltd.
- Dow Inc.
- Dupont
- Eastman Chemical Company
- Ems Chemie
- ExxonMobil
- Formosa Plastics Corporation
- Gsh Industries
- Hti Plastics
- Huntsman Corporation
- Ineos
- Lanxess AG
- LG Chem Ltd.
- Lotte Chemical
- Lyondellbasell Industries Holdings B.V.
- Proto Labs
- Psi Molded Plastics
- Reliance Industries Limited
- Sabic
- Sibur
- Sinopec
- Solvay
- Takween Advanced Industries
- Versalis S.P.A.
- Westlake Corporation
For more information about this report visit https://www.researchandmarkets.com/r/xpmwap-plastics?w=12
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