DUBLIN, Nov. 23, 2021 /PRNewswire/ -- The "Plastic Contract Manufacturing Market Size, Share & Trends Analysis Report by Product (PP, ABS, PE), by Application (Medical, Automotive, Consumer Goods & Appliances) and Segment Forecasts, 2020 - 2028" report has been added to ResearchAndMarkets.com's offering.
The global plastic contract manufacturing market size is expected to reach USD 45.82 billion by 2028, registering a CAGR of 5.6%
Plastic is required by various end-use industries due to which, several end-users prefer to outsource plastic components as it reduces their production cost. This is expected to drive market growth over the forecast period. Polypropylene and polyethylene are increasingly being used for the production of medical devices.
The growing demand for improved healthcare facilities and the rising number of hospitals have augmented the growth of the medical devices sector worldwide. The growing sales of medical devices are expected to be beneficial for the market growth.
Plastics can be easily molded into desired shapes using techniques, such as injection molding or 3D printing. Thus, manufacturers in the consumer electronics industry have exhibited a rising affinity towards contract manufacturing of their plastic components to decrease production costs, which is expected to contribute to the industry growth. Key players are investing to enhance manufacturing capabilities and efficiencies to improve profit margin.
Plastic Contract Manufacturing Market Report Highlights
- Polypropylene accounted for over 34% of the global revenue share in 2020 attributed to its increased usage in the manufacturing of automotive components, packaging & labeling, medical devices, and diverse laboratory equipment
- The medical application segment is expected to witness the fastest CAGR from 2020 to 2028 owing to the growing complexities in the engineering and designing of the products
- Asia Pacific accounted for the maximum revenue share in 2020 owing to the rapid growth of the manufacturing sector as a result of abundant availability of raw materials, cheap labor cost, and high domestic demand
- The demand India is expected to witness a lucrative CAGR from 2020 to 2028 owing to rapidly growing markets for aerospace, medical devices, automotive, as well as consumer goods
- Companies including CJ Industries, EVCO Plastics, Plastikon, McClarin Plastics, and Nordon cater to the contract manufacturing for various industries and have capabilities in various technologies, such as injection molding, roto-molding, and thermoforming
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Market Variables, Trends, and Scope
3.1. Market Segmentation & Scope
3.2. Penetration & Growth Prospect Mapping
3.3. Industry Value Chain Analysis
3.4. Regulatory Framework
3.5. Technology Framework
3.6. Plastic Contract Manufacturing Market - Market Dynamics
3.6.1. Market Driver Analysis
3.6.2. Market Restraint Analysis
3.6.3. Industry Challenges
3.7. Business Environmental Tools Analysis: Plastic Contract Manufacturing Market
3.7.1. Porter's Five Forces Analysis
3.7.2. PESTLE Analysis
Chapter 4. COVID-19 Impact Analysis
Chapter 5. Plastic Contract Manufacturing Market: Product Estimates & Trend Analysis
5.1. Plastic Contract Manufacturing Market: Product Movement Analysis, 2020 & 2028
5.2.1. Market Estimates and Forecasts, 2017 - 2028 (USD Million)
Chapter 6. Plastic Contract Manufacturing Market: Application Estimates & Trend Analysis
6.1. Plastic Contract Manufacturing Market: Application Movement Analysis, 2020 & 2028
6.3. Aerospace & Defense
6.5. Consumer Goods & Appliances
Chapter 7. Plastic Contract Manufacturing Market: Regional Estimates & Trend Analysis
7.1. Plastic Contract Manufacturing Market: Regional Movement Analysis, 2020 & 2028
Chapter 8. Competitive Landscape
8.1. Key Global Players, Their Initiatives, & Its Impact on the Market
8.2. Key Company/Competition Categorization
8.3. Vendor Landscape
8.4. Competitive Dashboard Analysis
8.5. Public Companies
8.6. Private Companies
Chapter 9. Company Profiles
9.1. Company Overview
9.2. Financial Performance
9.3. Product Benchmarking
9.4. Strategic Initiatives
- Baytech Plastics
- C&J Industries
- Evco Plastics
- Genesis Plastics Welding
- Gregstrom Corporation
- Inzign Pte Ltd.
- Mack Molding
- Mcclarin Plastics, Llc
- Natech Plastics, Inc.
- Nolato Ab
- Plastikon Industries, Inc.
- Pti Engineered Plastics, Inc.
- Rosti Group Ab, Inc.
- Rsp Inc.
- Tessy Plastics
For more information about this report visit https://www.researchandmarkets.com/r/8bf121
Research and Markets
Laura Wood, Senior Manager
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1904
Fax (outside U.S.): +353-1-481-1716
SOURCE Research and Markets