The growing industrialization and globalization in the Asia Pacific region have augmented the growth of various industries such as construction, automobile, electronics, medical, and others which in turn have fueled the demand for injected molding plastics in this region. The growing government inclination towards the development of retail sector coupled with the augmenting demand from the packaging sector is other factors contributing to the growth of the market. Among the various application segment, packaging is the dominant segment and is expected to show the same trend during the forecast period.
The Global Injection Molded Plastic Market is segmented into raw material and application. On the basis of the raw material, the market is segmented into polypropylene, ABS, HDFE, polystyrene, polycarbonate, LDPE, LLDPE, PEEK, PET, engineering thermoplastic polyurethane, and others. On the basis of the application, the Global Injection Molding Plastic can be segmented into packaging, consumable & electronics, automotive & transportation, building & construction, medical, and others.
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The polypropylene raw material is anticipated to dominate the market, which is followed by the ABS segment. The growing application of ABS in consumer appliances, medical devices, electronic housing and others is attributed to the growth of this segment. On the basis of the application, the packaging is expected to register over 30% of total market share during the forecasted years.
Some of the prominent players operating in the Global Injection Molded Plastic Market are LyondellBasell Industries Holdings B.V (Netherland), Exxon Mobil Corporation (U.S.), DuPont (U.S.), Huntsman International LLC (U.S.), BASF SE (Germany), Dow Chemicals Company (U.S.), Eastman Chemical Company (U.S.), SABIC (Saudi Arabia), INEOS Group AG (U.K), Chevron Phillips Chemical Company LLC (U.S.), and Reliance Industries Limited (India).
The Global Injection Molded Plastic Market is spanned across five key regions: North America, Asia Pacific, Latin America, Europe, and the Middle East & Africa. Among these, Asia Pacific holds a major portion of the global market and is anticipated to continue its dominance during the forecast period. The developing end-user industries in the region, such as electronics and automotive, are expected to fuel the market growth. Moreover, the favorable government schemes such as incentives and tax benefits have resulted in the shifting of the manufacturing base in the developing economies of Asia Pacific, which has further propelled the market growth. The key countries attributing to the growth of the injection molded plastic in this region are China, Japan, and India. North America is the dominant region in the Global Market Injection Molded Plastic. The developed end-user industries coupled with the growing adoption of Injection Molded Plastic are the major factor contributing to the growth of the market. The key countries attributing to this growth are Canada, and the U.S. European market of Injection Molded Plastic is mainly driven by the developed medical and electronics industry. Moreover, the increasing use of injection molded plastic in the packaging industry coupled with the presence of major automobile manufacturers is further adding to the growth of the market during the forecast years.
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