Global Injection Molded Plastics Market Size 2024, Forecast To 2033
6 Mar, 2024
The injection molded plastics market size has grown strongly in recent years. It will grow from $316.76 billion in 2023 to $332.87 billion in 2024 at a compound annual growth rate (CAGR) of 5.1%. The growth in the historic period can be attributed to industrialization and mass production, material innovation and development, consumer product evolution, environmental concerns and regulations, cost-effectiveness and production efficiency. The injection molded plastics market size is expected to see steady growth in the next few years. It will grow to $403.24 billion in 2028 at a compound annual growth rate (CAGR) of 4.9%. The growth in the forecast period can be attributed to increasing demand in automotive sector, rising adoption in medical devices, shift towards sustainable solutions, increasing demand in packaging industry, automation and industry 4.0 integration. Major trends in the forecast period include customization and design flexibility, rise in lightweight components, advanced material development, expansion in medical device applications, global market expansion.
Global Injection Molded Plastics Market Key Driver
Increasing spending on construction is expected to drive the injection molded plastic market going forward. Construction refers to the process of building or assembling something, typically a structure, using various materials and techniques for residential and commercial purposes. Injection molded plastics are widely used in many construction applications such as floorings, roofing, walls, and insulation for their higher durability, lighter weight, and greater insulation properties. For instance, in December 2022, according to the Federal Reserve Bank of St. Louis, a US-based central bank, total spending on commercial construction reached $131 million, increasing from $103 million in December 2021. Furthermore, in May 2022, the total spending on residential construction topped $954 million, increasing from $797 million in May 2021. Therefore, the increasing construction spending will propel the injection molded plastics market. The market size for injection molded plastics in 2023 stood at $XX million and is expected to reach $XX million by 2024, with a projected growth rate of XX%. Additionally, by 2028, the market is forecasted to grow to $XX million.
Get A Free Sample Of The Global Injection Molded Plastics Market ReportGlobal Injection Molded Plastics Market Segments
The injection molded plastics market covered in this report is segmented –
1) By Raw Material: Polypropylene (PP), Acrylonitrile Butadiene Styrene (ABS), High-Density Polyethylene (HDPE), Polystyrene (PS), Other Raw Materials
2) By Type: Electric Type, Hydraulic Type, Hybrid Type
3) By Application: Automotive, Medical Industry, Food And Beverage Industry, Consumer Goods Industry, Electronics And Telecom Industry, Construction, Shoe Industry, Home Appliance, Other Applications
By Geography:The regions covered in the injection molded plastics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
Asia-Pacific was the largest region in the injection molded plastics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global injection molded plastics market during the forecast period. The regions covered in the injection molded plastics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Injection Molded Plastics Industry Players
ExxonMobil Corporation, Badische Anilin- und Sodafabrik, DuPont de Nemours Inc., Dow Inc., Huntsman International LLC., Eastman Chemical Company, INEOS Group, LyondellBasell Industries Holdings B.V., Saudi Arabia's Basic Industries Corporation, Magna International Inc., InterActiveCorp Group, Berry Global Inc., HTI Plastics Inc., Rutland Plastics, The Rodon Group, Heppner Molds Inc., Formosa Plastics Corporation, Reliance Industries Limited, China National Petroleum Corporation, AptarGroup Inc., Silgan Holdings Inc., Amcor PLC, ALPLA INDIA PRIVATE LIMITED, LTM Plastics Inc., MSI Mold Builders., GSH Industries Inc., Britech Industries, Nylacarb Corp., Proto Labs, EVCO Plastics, Crescent Industries, Stack Plastics, Universal Plastic Mold, Plastic Molding Technology Inc., Kamek Precision Tools Inc., Plastic Injection Molding Inc., RSP Inc., Plastic Design International Inc.
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Injection Molded Plastics Market Overview
Injection molded plastics refer to the manufacturing process of melting plastic pellets and injecting the molten plastic into a mold cavity. Injection molded plastics are used to make toys, automotive parts, electronic enclosures, and medical devices.
Injection Molded Plastics Global Market Report 2023 provides data on the global injection molded plastics market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The injection molded plastics market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.