The global injection molded plastics market is estimated at
SEATTLE, July 8, 2021 (GLOBE NEWSWIRE) – Injection molding is widely used to make a variety of plastic parts, from small to larger objects. Usually, the parts to be molded need to be designed very precisely so as to support the injection molding process. When the parts are not well designed, they can easily break or bend during the molding process. It therefore becomes imperative to choose the right plastic for the part to be manufactured.
All the bottles that are used daily in our homes or offices have to undergo some kind of treatment during the manufacturing process. In the case of bottles, the parts molded during the process should be chosen very carefully to ensure that they do not break easily. Apart from bottles, injection molded plastics are also used for thermal insulation purposes in the case of automobile tires and the like. In the automotive industry, these parts are used for cooling system purposes and other automotive related products. In addition to this, the packaging material must be perfect and appropriate for the specific product.
The Global injection mussel plastics market is estimated at US $ 400 billion in value by the end of 2027, with a CAGR of 5.3% during the forecast period (2020-2027).
The significant growth of the FMCG industry is expected to drive the demand for plastic packaging solutions, thereby propelling the growth of the global injection molded plastics market during the forecast period. For example, according to the India Brand Equity Foundation, the FMCG market in India is expected to grow at a CAGR of 27.86% and is expected to reach $ 103.70 billion by 2020, up from $ 52.75 billion. dollars in FY18.
Moreover, the launch of new injection molded PCR plates is also expected to contribute to the growth of the market. For example, in May 2021, AlphaGem Bio, a supplier of medical laboratory equipment for liquid transfer handling, launched a TOPAS cyclic olefin copolymer (COC) polymerase chain reaction (PCR) plate from Polyplastics. USA.
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The development of an intelligent sensing solution for online monitoring of plastic injection molding processes is expected to provide lucrative growth opportunities for players in the global injection molded plastics market. For example, in March 2020, Fu Chun Shin Machinery Manufacture, together with the Government of Taiwan Sponsored Industrial Technology Research Institute, developed an intelligent sensing solution for online monitoring of plastic injection molding processes. to ensure the quality of injection molded plastic products.
Moreover, the launch of solutions to simulate injection molding is also expected to contribute to the growth of the market. For example, in November 2020, Altair, a global technology company providing data analysis, simulation and high performance computing solutions, launched Altair Inspire Mold, an end-to-end solution for simulating injection molding.
The decline of the automotive sector is expected to limit the demand for injection molding, thereby hampering the growth of the global injection molded plastics market. For example, according to the Society of Motor Manufacturers and Traders, new car registrations in the UK fell 44% in March 2020 compared to March 2019.
The global injection molded plastics market is witnessing the launch of biodegradable plastics that can be used in plastic injection molding. For example, in June 2019, JasonMould Industrial Company Limited launched their first biodegradable plastic that will be used in plastic injection molding and all of their other products.
Several medical device manufacturers are investing in injection molding machines. For example, in May 2021, Boddingtons, a medical device maker, invested in five new injection molding machines to meet demand from a new OEM customer in the pharmaceutical industry.
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Major players operating in the global injection molded plastics market include BASF, DOW Chemicals, Huntsman Corporation, JasonMould Industrial Company Limited, Ineos oxide, Saudi basic industries corporation, Exxon Mobil Corporation, Du Pont de Nemours & Company and Lyondellbasell industries
Market segmentation :
- By raw material
- Acrylonitrile butadiene styrene (ABS)
- High density polyethylene (HDPE)
- By application
- Consumables and electronics
- Automotive and Transportation
- Building and construction
- By region
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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