Molded Plastic market Growth Set To Surge Significantly During 2019 – 2027

The molded plastics market size is estimated to reach USD 475,866.9 million by 2023 from USD 364,134.6 million in 2016, at a CAGR of 6.2% between 2018 and 2023.

Molded plastics are the type of polymers, which can be molded into any size and shape for the use in commercial applications. The use of pigments and other additives enhances the quality of the molded plastics. Molded plastics are used in various end-use industries, owing to the characteristics, such as durability, lightweight, and high chemical resistance. The automobile industry uses molded plastic for manufacturing of air flow ducts, engine cover, wheel wells, car fascia, grilles, bumpers, and other components.

A detailed report on Global Molded Plastic Market providing a complete information on the current market situation and offering robust insights about the potential size, volume, and dynamics of the market during the forecast period, 2021-2027.

Top Key Players in Molded Plastic  market: Eastman Chemical Company, SABIC, Huntsman Corporation, LyondellBasell Industries N.V, INEOS Group AG, Chevron Phillips Chemical Company LLC, Reliance Industries Limited, Obeikan Investment Group (OIG), Takween Advanced Industries, and BASF SE.

Regional Analysis For Molded Plastic  Market:

Besides segmental breakdown, the report is highly structured into region wise study. The regional analysis comprehensively done by the researchers highlights key regions and their dominating countries accounting for substantial revenue share in the Molded Plastic market. The study helps understanding how the market will fare in the respective region, while also mentioning the emerging regions growing with a significant CAGR. The following are the regions covered in this report.

Key Trends and Analysis of Molded Plastic Market:

• On the basis of end-use industry, packaging segment is expected to lead the market during the forecast years. The high tensile strength, greater design flexibility, and low weight has increased the demand for molded plastic in the packaging industry. The increased use of molded plastics in building and construction is also expected to fuel the growth of molded plastic market.
• On the basis of technology, injection molding technology dominates the market and is expected to retain its position over the forecast period. Injection molding is extensively used for manufacturing a variety of components such as automotive parts, bottle caps, packaging, storage containers, mechanical parts, and wire spools. Low maintenance cost, low consumption of energy, and high accuracy are some of the properties offered by injection molding process, which in turn contribute to growth of the injection molding plastic segment.

Key Takeaways of the Market:

• Asia pacific is the largest and the fastest growing market for molded plastics and is expected to retain its position over the forecast period. The growing industrialization, urbanization, and the presence of the most populated economies in the region has boosted the building and construction industry, which in turn is propelling the growth of molded plastics market. Moreover, the increased use of molded plastics in the automobile industry is further fuelling the growth of the market. According to CAAM (China Association of automobile manufacturers), China witnessed a growth of 6.2% from 2016 to 2017.
• Europe is the second largest region in terms of value in the global molded plastic market. Increasing demand for electrical appliances and automotive components fuels the growth of the molded plastics in Europe. Moreover, increasing globalization and production has augmented growth of the molded plastic market in this region.

Contact Us:

Mr. Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com 

The molded plastics market size is estimated to reach USD 475,866.9 million by 2023 from USD 364,134.6 million in 2016, at a CAGR of 6.2% between 2018 and 2023.

Molded plastics are the type of polymers, which can be molded into any size and shape for the use in commercial applications. The use of pigments and other additives enhances the quality of the molded plastics. Molded plastics are used in various end-use industries, owing to the characteristics, such as durability, lightweight, and high chemical resistance. The automobile industry uses molded plastic for manufacturing of air flow ducts, engine cover, wheel wells, car fascia, grilles, bumpers, and other components.

A detailed report on Global Molded Plastic Market providing a complete information on the current market situation and offering robust insights about the potential size, volume, and dynamics of the market during the forecast period, 2021-2027.

Top Key Players in Molded Plastic  market: Eastman Chemical Company, SABIC, Huntsman Corporation, LyondellBasell Industries N.V, INEOS Group AG, Chevron Phillips Chemical Company LLC, Reliance Industries Limited, Obeikan Investment Group (OIG), Takween Advanced Industries, and BASF SE.

Regional Analysis For Molded Plastic  Market:

Besides segmental breakdown, the report is highly structured into region wise study. The regional analysis comprehensively done by the researchers highlights key regions and their dominating countries accounting for substantial revenue share in the Molded Plastic market. The study helps understanding how the market will fare in the respective region, while also mentioning the emerging regions growing with a significant CAGR. The following are the regions covered in this report.

Key Trends and Analysis of Molded Plastic Market:

• On the basis of end-use industry, packaging segment is expected to lead the market during the forecast years. The high tensile strength, greater design flexibility, and low weight has increased the demand for molded plastic in the packaging industry. The increased use of molded plastics in building and construction is also expected to fuel the growth of molded plastic market.
• On the basis of technology, injection molding technology dominates the market and is expected to retain its position over the forecast period. Injection molding is extensively used for manufacturing a variety of components such as automotive parts, bottle caps, packaging, storage containers, mechanical parts, and wire spools. Low maintenance cost, low consumption of energy, and high accuracy are some of the properties offered by injection molding process, which in turn contribute to growth of the injection molding plastic segment.

Key Takeaways of the Market:

• Asia pacific is the largest and the fastest growing market for molded plastics and is expected to retain its position over the forecast period. The growing industrialization, urbanization, and the presence of the most populated economies in the region has boosted the building and construction industry, which in turn is propelling the growth of molded plastics market. Moreover, the increased use of molded plastics in the automobile industry is further fuelling the growth of the market. According to CAAM (China Association of automobile manufacturers), China witnessed a growth of 6.2% from 2016 to 2017.
• Europe is the second largest region in terms of value in the global molded plastic market. Increasing demand for electrical appliances and automotive components fuels the growth of the molded plastics in Europe. Moreover, increasing globalization and production has augmented growth of the molded plastic market in this region.

Contact Us:

Mr. Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com