Injection Molded Plastics Market Estimated At USD 390.3 Billion By 2028


 San Francisco, 7 Dec 2021: The Report Injection Molded Plastics Market Size, Share & Trends Analysis Report By Raw Material (Polypropylene, ABS, HDPE, Polystyrene), By Application (Packaging, Automotive & Transportation, Medical), By Region, And Segment Forecasts, 2021 - 2028

The global injection molded plastics market size is anticipated to reach USD 390.3 billion by 2028, according to a new study by Grand View Research, Inc. The market is expected to expand at a CAGR of 4.6% from 2021 to 2028. Growing demand from key applications including automotive, packaging, and construction particularly in Brazil, Russia, India, China, and South Africa (BRICS) nations, is likely to drive the growth. The high-growth regions such as Middle East and Asia Pacific have witnessed a surge in capacity addition over the last few years.

The increasing presence of plastic injection molding companies in China on account of low manufacturing costs and ample availability of skilled labor is anticipated to benefit the regional market. Major foreign companies are increasing their production capabilities in the region, owing to growing demand for plastic products. Government support in the form of tax benefits and financial incentives in China and India to increase the FDI flow has helped develop the market for plastics in these countries.

In packaging applications, High-Density Polyethylene (HDPE) is extensively used in thin wall injection molding. Growing packaging demand from food, bin liners, and thing gauge bags is anticipated to drive its growth over the forecast period. The rising penetration of injection-molded HDPE in shipping containers, industrial pails, and houseware applications is anticipated to further drive its demand over the forecast period.

The recent outbreak of the COVID-19 pandemic has affected the revenue generation of the companies operating in the market owing to the halt or slowdown in the production facilities. Thus, the companies are focusing on upgrade of their resources and production capabilities to help in the fight against the pandemic. For instance, G&C products, a U.S.-based plastic injection mold making company that produces plastic products for the fishing and medical industry, started the production of personal protective equipment such as face shields and face masks.

Access Research Report of Injection Molded Plastics Market @ https://www.grandviewresearch.com/industry-analysis/injection-molded-plastics-market

Injection Molded Plastics Market Report Highlights

  • In terms of revenue, demand for injection molded plastics from the packaging industry in Asia Pacific is projected to reach USD 49.7 billion by 2028 at a CAGR of 5.4% from 2021 to 2028
  • The growth of the electronics industry and cost-effectiveness of electrical appliances are projected to remain a key driving factor for the next eight years
  • Demand from the medical sector in North America is anticipated to expand at a CAGR of 4.0% from 2021 to 2028
  • Packaging is the prominent application segment in France and is expected to witness a CAGR of 4.3% over the forecast period

List of Key Players of Injection Molded Plastics Market

  • BASF SE
  • Lyondellbasell Industries N.V.
  • Dow, Inc.
  • DuPont
  • SABIC
  • Eastman Chemical Company
  • INEOS Group

 Access Press Release of Injection Molded Plastics Market @ https://www.grandviewresearch.com/press-release/global-injection-molded-plastics-market

 

Comments

Post a Comment

Popular posts from this blog

U.K. Point Of Sale Software Market To Expand Industry Growth At USD 1.05 Billion By 2028

Image
  San Francisco, 21 Jan 2022:   The Report  U.K. Point Of Sale Software Market  Size, Share & Trends Analysis Report By Application (Fixed POS, Mobile POS), By Deployment, By Organization Size, By End-user, And Segment Forecasts, 2021 - 2028 The global U.K. point of sale software market size is expected to reach USD 1.05 billion by 2028, expanding at a CAGR of 8.1% from 2021 to 2028, according to the new study conducted by Grand View Research, Inc. The integration of a Point-Of-Sale (POS) solution with capabilities such as sales reports monitoring, cash flow recording, product demand analysis, tracking delivery status, and inventory management ensure systematic functioning and upscaling of a business. The adoption of POS software is directly impacted by the demand for POS terminals, which is witnessing growth in demand due to changing lifestyles and government policies. However, the COVID-19 pandemic disrupted the industry's business, wherein ...
Read more

Gas Detection Equipment Market Anticipated To Expand At A CAGR 9.7% From 2021 To 2028

  San Francisco, 5 May 2021:   The Report  Gas Detection Equipment Market  Size, Share & Trends Analysis Report By Product, By Technology (Infrared, Catalytic, PID), By End-use, By Region, And Segment Forecasts, 2021 - 2028 The global gas detection equipment market size is expected to reach USD 8.38 billion by 2028, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 9.7% from 2021 to 2028. The market growth can be attributed to the growing awareness among governments regarding the harmful effects of greenhouse gases, coupled with their increased efforts toward protecting the environment. Major industries such as petroleum, oil, and gas, among others are needed to comply with safety and environmental regulations which are also major factors driving the market growth. Many companies are focused on introducing drone-based gas detection equipment, which is expected to create new opportunities for market growth in...
Read more