Westford, USA, Aug. 17, 2023 (GLOBE NEWSWIRE) -- The global Injection Molded Plastic market size is expected to reach USD 429.6 billion by 2030 and exhibit a CAGR of 4.2% in the forecast period (2023−2030), according to Skyquest's latest research report. The increasing demand from automotive and electronics industries, lightweight and cost-effective manufacturing solutions, technological advancements in injection moulding techniques, growing emphasis on sustainability and recyclability, expanding packaging and consumer goods sectors, customization and design flexibility, rising urbanization and infrastructure development, strong demand for medical devices and equipment, and growth in the construction industry.
According to SkyQuest's latest global research of the Injection Molded Plastic market, adoption of bio-based and biodegradable plastics, integration of Industry 4.0 technologies for smart manufacturing, increased focus on precision and micro-moulding, rising demand for complex and multi-material components, exploration of new design possibilities with advanced simulation tools, growth in medical and healthcare-related molding applications, emphasis on energy efficiency and reduced carbon footprint, expanding use of recycled plastics and circular economy approaches, integration of automation and robotics for enhanced production efficiency, and development of antimicrobial and antiviral plastic solutions.
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Browse in-depth TOC on "Injection Molded Plastic Market"
- Pages - 165
- Tables - 66
- Figures -75
Injection moulded plastic is a manufacturing process that uses a mould to create plastic parts. The mould is heated to a high temperature, and then plastic pellets are injected into the mould. The plastic melts and flows into the mould, taking the shape of the mold. The mould is then cooled, and the plastic solidifies. The part is then ejected from the mould and is ready for use.
Prominent Players in Injection Molded Plastic Market
- Schulman, Inc.
- BASF SE
- Berry Global Group, Inc.
- Chemours Company
- Covestro AG
- ExxonMobil Corporation
- Formosa Plastics Corporation
- Hanwha Corporation
- LyondellBasell Industries
- Mitsubishi Chemical Holdings Corporation
- Nova Chemicals Corporation
- PolyOne Corporation
- SABIC
- Sumitomo Chemical Company, Limited
- TotalEnergies SE
- Victrex plc
- WL Gore & Associates, Inc.
Report Scope & Segmentation:
| Attributes | Details |
| Forecast Period | 2023-2030 |
| Market Size in 2022 | 296.66 Billion |
| 2030 Value Projection | 429.6 Billion |
| CAGR | 4.2% |
| Segments Covered |
|
| Regions Covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
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Polypropylene (PP) Demand to Grow Substantially in the Forecast Period
Non-surgical fat reduction dominated the global online market as is highly versatile and finds applications across various industries, including automotive, packaging, consumer goods, and electronics. Its adaptability to different manufacturing processes and end-use requirements contributes to its dominance.
Automotive is the Leading Application Segment
In terms of application, automotive is the leading segment industry as the industry has a strong focus on reducing vehicle weight to improve fuel efficiency and lower emissions. Injection moulded plastics offer lightweight alternatives to traditional materials, making them suitable for various automotive components.
Asia pacific is the leading Market Due to the Technological Advancements
Region-wise, Asia Pacific is one of the largest growing markets, specifically countries like China and India, which are known as global manufacturing hubs. The region's strong manufacturing capabilities and infrastructure contribute to its dominance in the injection molded plastic market.
A recent report thoroughly analyzes the major players operating within the Injection Molded Plastic market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavours to develop innovative solutions that cater to the ever-increasing demand for Injection Molded Plastic.
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Key Developments in Injection Molded Plastic Market
- Port Washington, Wisconsin — Molded Dimensions, a manufacturer and supplier of custom rubber and urethane molded parts to original equipment manufacturers (OEM) and related businesses, announced the acquisition of GlobalTech Plastics in Fife, Washington.
Key Questions Answered in Injection Molded Plastic Market Report
- What specific growth drivers will impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market's future growth?
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