The global injection molded plastics market was estimated to be valued more than US$ 260 billion in terms of revenue in 2019 and is predicted to grow at a CAGR of 5.3% during the forecast period (2020 to 2027).Injection-molded plastics is an advanced technology used to produce plastic products by using injecting molten material where plastic is melted, cooled, convert into desired shapes and […]
Comprehensive Analysis of the Injection Molded Plastics Market
The global injection molded plastics market was estimated to be valued more than US$ 260 billion in terms of revenue in 2019 and is predicted to grow at a CAGR of 5.3% during the forecast period (2020 to 2027).Injection-molded plastics is an advanced technology used to produce plastic products by using injecting molten material where plastic is melted, cooled, convert into desired shapes and size as the final product. Increasing use of injection molded plastics for manufacturing various electronic devices is projected to foster the market growth. Growth in the electrical and electronic industry due to increasing production of consumer electronic goods such as smartphones, wearable devices, etc. is also propelling the market growth.
Key companies covered as a part of this study includes BASF, DOW Chemicals, Huntsman Corporation, Ineos oxide, Saudi basic industries corporation, Exxon Mobil Corporation, Du Pont de Nemours & Company, and Lyondellbasell industries
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Market Opportunities
The growing demand for medical plastic due to its excellent flexibility that offers greater fabrication process for devices is expected to offer immense growth opportunities. Polypropylene, polyvinyl chloride, polystyrene, polyethylene, and polyethylene terephthalate (PET) are some of the commonly used plastic in manufacturing of medical devices. Moreover, various manufactures are also shifting their focus from glass to plastic syringes for reducing the chances of breakage.
Global Injection Molded Plastics Market – Impact of Coronavirus (Covid-19) Pandemic
The demand for plastics and polymers in healthcare industry has been very during Coronavirus (Covid-19) Pandemic. Manufactures across the globe are focusing in rapid production of PPEs for health care industry. In April 2020, DuPont manufactured around 2.25 million Tyvek suits made from HDPE sheets at its Vietnam facility, in order to meet the demand for PPE in the US. This is expected to fuel the demand for injection molded plastics during a timeframe of next 2-3 years.
Key features of the study:
- This report provides in-depth analysis of global injection molded plastics market size (US$ Billion and Kilo tons), and Compound Annual Growth Rate (CAGR %) for the forecast period (2020 – 2027), considering 2019 as the base year
- It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
- This study also provides key insights into market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategies adopted by the leading players
- It profiles leading players in the global injection molded plastics market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
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