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

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.