New York
City, 19 January 2019: The Report Injection Molded Plastic Market is anticipated to reach over
USD 396.1 billion by 2026. In 2017, the packaging segment dominated the global
market, in terms of revenue. Asia-Pacific is expected to be the leading
contributor to the global market revenue during the forecast period.
The diverse applications of injection
molded plastic in industries such as healthcare, construction, packaging,
automotive, and consumer goods among others is expected to support the growth
of this market. Other driving factors include introduction of lower labor
costs, production at faster rates, reduced wastage, and material flexibility. However,
increasing concerns regarding environmental pollution, and increasing demand of
bio-based polymers are expected to restrict the growth of the market.
Increasing demand from developing nations, and technological advancements are
expected provide numerous growth opportunities to the market players during the
forecast period.
 |
Injection molded
plastic is used in a wide range of applications in the automotive sector.
Injection molded plastic is used in production of automotive interiors,
exteriors, fuelling framework, and under-hood applications. Injection molded
plastic offers cost efficiency in large scale manufacturing of automotive
parts. Injection molded plastic is increasingly being used as replacement to
metals, offering lighter weight, reducing wear and tear, and providing rust
resistance.
The different end-users
of injection molded plastic include automotive, construction, packaging,
healthcare, consumer goods, and others. In 2017, the packaging segment
accounted for the highest market share. The healthcare segment is expected to
grow at the highest CAGR during the forecast period. This is owing to
increasing demand of injection molded plastic in surgical blades, pregnancy
test devices, and other applications
Competitive Landscape and Key Vendors:
Asia-Pacific generated the highest
revenue in the market in 2017, and is expected to lead the global market
throughout the forecast period. The presence of emerging industries such as
healthcare, construction, and packaging, substantial initiatives in research
and development, and favorable government policies drive the market growth.
Rapid industrialization and growth of manufacturing industry further support
market growth in the region.
The well-known companies profiled in
the report include E. I. DuPont De Nemours and Company, Huntsman Corporation,
China National Petroleum Corporation, the Dow Chemical Company, Exxon Mobil
Corp., BASF SE, Eastman Chemicals, LyondellBasell, Berry Plastics Group, SABIC,
and INEOS Group among others. These companies launch new products and
collaborate with other market leaders to innovate and launch new products to
meet the increasing needs and requirements of consumers.
No comments:
Post a Comment