Injection Molded Plastics Market: The Future Impact Of The Propellants And Restraints On The Market

The growing demand from key applications including construction, automotive, and packaging, particularly in the BRICS nations such as Brazil, Russia, India, China, and South Africa, is expected to drive the growth of the injection molded plastics market during the forecast period. There has been a surge in capacity addition in growing economies such as the Middle East and Asia-Pacific in past couple of years. This, along with generating a consistent demand for injection molded plastics, also helps reduce the overall manufacturing cost.

Increasing packaging demand from food and beverages industry is expected to remain a major driving factor for the North America’s injection molded plastics market during the forecast period. Increasing demand for processed foods and soft drinks and alcohols are expected to be responsible for food and beverages industry growth over the past few years. Growth of building and construction industry in U.S. is expected to drive the growth of the North America’s injection molded plastics market. Building and construction industry in U.S. are expected to show signs of recovery during the forecast period, which will boost the demand for injection molded plastics.

The Asia-Pacific region is estimated to hold the largest share in the injection molded plastics market, accounting for more than 30% in 2017. The region is expected to hold the largest share throughout the forecast period owing, to the growing usage injection molded polypropylene, ABS and HDPE in packaging, manufacturing and industrial sectors in countries such as India, China, Indonesia, Japan, and others. In addition, the Asia-Pacific region is the hub for semiconductor foundries and electronics manufacturing. On the other hand, injection molded polypropylene, ABS and HDPE are one of the most sought-after materials for manufacturing different semiconductor and electronics components. Therefore, strong penetration of electronics industries is driving the growth of the injection molded plastics market in the Asia-Pacific region.

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On the basis of application, the global injection molded plastics market has been segmented into packaging, consumables and electronics, automotive, construction, medical and others. Packaging is estimated to hold the largest share in the market in 2017, accounting for more than 26%. Injection molded polymers used in packaging go through various processing stages to cope up with regulatory norms and requirements of end users. Increased shelf life of processed food products, durability, better performance towards wear and tear are a few requirements that plastics need to fulfill for packaging applications.

Some of the major players operating in the global injection molded plastics industry are Exxon Mobil Corporation, BASF SE, E.I. du Pont de Nemours & Co., The Dow Chemical Company, Huntsman Corporation, Eastman Chemical Company, INEOS Group Holdings S.A.