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Report ID: SQMIG15A2334
Report ID:
SQMIG15A2334 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
34 |
Figures:
74
Molded Plastic Market size was valued at USD 160 billion in 2021 and is poised to grow from USD 165 billion in 2022 to USD 250 billion by 2030, growing at a CAGR of 4.7% in the forecast period (2023-2030).
The global molded plastic market is witnessing significant growth due to various factors. The increasing demand for lightweight and durable materials in industries such as automotive, packaging, and construction is driving the market's growth.
Molded plastics offer advantages such as cost-effectiveness, design flexibility, and ease of manufacturing, making them a preferred choice for many applications. Additionally, the rising awareness regarding the need for sustainable and eco-friendly materials has led to the adoption of recycled and bio-based molded plastics, further fueling market growth.
The market is also influenced by technological advancements in molding processes and materials, allowing for the production of complex and customized plastic components. However, factors such as fluctuating raw material prices and environmental concerns related to plastic waste management pose challenges to the market's growth.
Overall, the global molded plastic market is poised for expansion, driven by increasing industrial applications and the need for innovative, sustainable solutions.
US Molded Plastic Market is poised to grow at a sustainable CAGR for the next forecast year.
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Report ID: SQMIG15A2334