USD 284.7 billion
Injection Molded Plastic Market Size, Share, Growth Analysis, By Raw Material(Polystyrene (PS), High-density polyethylene (HDPE), Acrylonitrile Butadiene Styrene (ABS), Polypropylene (PP)), By Application(Building & Construction, Automotive, Consumables & Electronics, Packaging), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG30H2032 |
Region:
Global |
Published Date: July, 2036
Pages:
165
|Tables:
66
|Figures:
75
Injection Molded Plastic Market Insights
Global Injection Molded Plastic Market size was valued at USD 319.55 billion in 2022 and is poised to grow from USD 330.41 billion in 2023 to USD 431.74 billion by 2031, growing at a CAGR of 3.4% in the forecast period (2024-2031).
The market for injection-molded plastics is growing as a result of the increased demand for plastics across a range of end-use sectors. Injection molding technology enables the mass production of plastic products with high resource efficiency and low waste. Injection molding is a manufacturing process for producing plastic products by injecting molten material into a mold where it is melted, cooled and subsequently solidified as the final part or product. Both thermoplastic and thermosetting injection molded plastics are used for manufacturing of various parts and components across industries. Along with this, the advantages such as low production costs and high reliability associated with this technology, are supporting its market growth. It has also gained high significance in the mass production of complicated plastic shapes, as it produces the desired product with a lower rate of defective production.
Additionally, the procedure can be used to produce plastic parts using multiple plastic varieties simultaneously. Also, the introduction of robots in the injection molding process to carry out tasks like loading components into the injection molding, and completing and assembling injection molded parts is expected to aid the expansion of the market.
US Injection Molded Plastic Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Polystyrene (PS)
Fastest Growth
Polystyrene (PS)
Growth Rate
4.2% CAGR
Global Injection Molded Plastic Market 2022-2028 ($ Bn)
Country Share for Asia-Pacific Region- 2021 (%)
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Injection Molded Plastic Market Segmental Analysis
The Global Injection Molded Plastic Market is segmented based on raw material, application and region. Based on Raw Material, it is categorized into Polystyrene (PS), High-density polyethylene (HDPE), Acrylonitrile Butadiene Styrene (ABS), and Polypropylene (PP). Based on Application, it is categorized into Building & Construction, Automotive, Consumables & Electronics, Packaging and Medical. Based on region, Injection Molded Plastic Market is categorized into North America, Europe, Asia Pacific, The Middle East and Africa, and Latin America.
Injection Molded Plastic Market Analysis by Raw Material
On the basis of raw material, Polypropylene(PP) segment held the largest market share in 2021, due to the growing consumption of PP in household goods, packaging, and automotive components. It is projected that increasing PP-based product penetration in protective caps, electrical connections & battery housings, and food packaging would further fuel its demand, over the forecast period. This is because of their properties such as easy molding, heat resistance, electrical insulating qualities, ability to resist corrosion, and inexpensive cost.
ABS has emerged as the next fast growing segment after the PP segment. It held the second largest market share in the injection molded plastic market in 2021 and the rising ABS component demand in the manufacturing of consumer appliances, automotive parts, electronic housings, and medical devices is expected to propel its expansion over the forecast period.
Injection Molded Plastic Market Analysis by Application
On the basis of application, the packaging segment is currently dominating the global injection molded plastic market, with the largest market share in 2021. The demand for injection molded plastics in the packaging industry is fueled by rigid packaging used in both the industrial and consumer packaging sectors. To meet regulatory standards and end-user specifications, the completed products used in packaging go through a number of development stages and must meet certain standards in order to be used in packaging applications, including improving the shelf life of food products, improving the wear and tear resistance and better durability.
Apart from this, the medical and automotive segments, in particular, possess enormous potential for injection-molded plastics. The use of medical-grade polymers in the healthcare industry is expected to be subject to strict regulatory conditions, which is expected to further stimulate the growth of the injection molded plastic market. The medical industry is also expected to benefit from a growing preference for biodegradable polymers among medical device manufacturers, over the forecast period.
Global Injection Molded Plastic Market By Raw Material, 2021 (%)
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Injection Molded Plastic Market Regional Insights
Based on the region, Asia Pacific currently dominates the injection molded plastic market with respect to market share. Market penetration in this region is projected to be supported by rising infrastructure investments and rising automobile demand in nations like China, India, Indonesia, and Malaysia. Due to the cheap labor costs, significant end-use sectors, like electronics and autos, are moving their manufacturing bases to nations like India, China, Indonesia, and Thailand, which is supporting the market growth.
Europe is another significant injection molded plastic market. Applications for packaging non-food and non-beverage products in Europe including cosmetics and toiletries, drugs, and household chemicals, is expected to increase the demand for injection molded plastic in this region.
Global Injection Molded Plastic Market By Geography, 2022-2028
- Largest
- Fastest
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Injection Molded Plastic Market Dynamics
Injection Molded Plastic Market Drivers
Increasing demand for plastic across various industries
- The increased need for plastics across a range of end-use sectors is what is driving the growth of the injection molded plastic market. Due to advancements that lower the production rate for defects, injection-molding technology has grown in importance in the mass production of intricate plastic structures.
- In many different industries, injection-molded plastic offers a wide variety of uses. The automotive industry is also expanding its need for strong, lightweight alternatives to heavy metal components. Similar to how the packaging, construction, and pharmaceutical industries are growing, so is the demand for injection-molded plastics. Among all the packaging industry is the major consumer of molded plastics.The commonly used molded plastics in packaging application include PE,PP and PET. The injection molding sector will surely benefit from and be stimulated by technological advancements in molding technology.
Injection Molded Plastic Market Restraints
The availability of substitute technologies is expected to limit the market expansion
- Blow molding, polymer casting, extrusion, and 3D printing are a few of the well-liked alternate methods for producing plastic goods. Blow molding is the process of blowing a hot plastic tube into a mold until the required shape is achieved. It is frequently employed to mass-produce hollow plastic objects. The procedure is typically used in the production of bottles, toys, automobile parts, packaging pieces, and packaging solutions. Thus, the existence of these and numerous other industrial technologies is proving to be a barrier to this market's expansion.
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Stringent Regulations of Governments: The rising awareness among the individuals regarding the environment is the major concern for this market . The use of plastic has a harmful impact on the environment as it takes decades to decompose . Governments all around the globe have to take several important measures to reduce the use of plastic to decrease the plastic waste.Stepins are done by the government to promote the recycling of plastic and sustainable packaging.
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Injection Molded Plastic Market Competitive Landscape
An enormously unorganized sector exists in the extremely fragmented global market, especially in the Asia Pacific and Latin America. In order to benefit from operational excellence and obtain economies of scale, businesses, particularly those from the Asia Pacific, have been on the lookout for sizable capacity additions over the past few years. The market is competitive in terms of price and distribution channels thanks to a varied product portfolio and differentiation.
Injection Molded Plastic Market Top Players Company Profiles
- BASF SE
- LyondellBasell Industries Holdings B.V.
- Dow Inc.
- SABIC
- DuPont de Nemours, Inc.
- Eastman Chemical Company
- ExxonMobil Corporation
- Huntsman Corporation
- INEOS AG
- Chevron Phillips Chemical Company LLC
- Reliance Industries Limited
- Formosa Plastics Corporation
- LG Chem Ltd.
- Total SA
- Arkema SA
- Covestro AG
- Sumitomo Chemical Co., Ltd.
- MRC Polymers Inc.
- Saudi Basic Industries Corporation (SABIC)
- Shin-Etsu Chemical Co., Ltd.
Injection Molded Plastic Market Recent Developments
- In February 2022, 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.
- In October 2021, Silgan Holdings acquired Gateway Plastic for a value of USD 485 million, which specializes in the manufacturing and marketing of dispensing closures and integrated dispensing packaging solutions.
Injection Molded Plastic Key Market Trends
- Innovation of Injection Molding Technologies: Continuous innovation has occurred in injection molding technologies, such as the growing trend toward an integrated approach to product design that emphasizes precision machining. The time between designing and manufacturing has thus been significantly shortened, especially in the case of complicated products like medical devices. When producing medical equipment, this technique is more commonly referred to as micro injection molding because it is used at a minuscule scale.
Even though manufacturing costs play a big role in determining how quickly new technologies are adopted, the usability of these technologies in complicated applications outweighs the cost factor. For the purpose of monitoring operations, new technologies like the Internet of Things, automation, and others are being merged with injection molding. For instance, the BOY Machines Status App, which enables remote monitoring of injection operations using internet-connected devices, was recently created by the company that sells precision injection molding machines.
Injection Molded Plastic Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyzes the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to the analysis, the global injection molded plastic market is currently led by countries in the Asia Pacific region with the packaging segment currently dominating the market share, owing to rigid packaging used in both the industrial and consumer packaging sectors, and is anticipated to continue dominating the market over the forecast period.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 319.55 billion |
| Market size value in 2031 | USD 431.74 billion |
| Growth Rate | 3.4% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| 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) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Injection Molded Plastic Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Injection Molded Plastic Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Injection Molded Plastic Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Injection Molded Plastic Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Injection Molded Plastic Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Injection Molded Plastic Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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