Global Molded Plastics Market Report 2018 - Forecast to 2024: Rising Adoption Of Lightweight Materials Across Major Industries
DUBLIN, Nov 20, 2018 /PRNewswire/ --
The "Global Molded Plastics Market-Technologies, Market Share and Industry Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
Global molded plastics expected to grow through 2024 at CAGR of 6.1%
Global molded plastics market is expected to grow with a CAGR of 6.1% over the forecast period of 2017-2024. Increasing construction activities globally, rising adoption of lightweight materials, growing packaging industry are some of the promoting factors for molded plastics market. The volume of construction output is expected to rise by 85% to reach $15.5 trillion by 2030, as per Institution of Civil Engineers (United Kingdom).
Molded plastics are used in manufacturing many products used in construction projects such as pipe and fittings, doors, windows and others. Rising population across the globe coupled with rising urbanization is boosting construction activities. As per The United Nations Environment Programme (Kenya), a department of United Nations (United States), global building floor area is expected to reach 315.4 billion m2 by 2030 and 415 billion m2 in 2050 from 223.4 billion m2 in 2015.
As per United Nations (U.S.), in 2018, 55% of global population lives in urban areas in 2018 and the number is expected to increase to 68% by 2050; adding 2.5 billion new individuals in urban areas. Growing economies have escalated their construction activities to higher scale especially developing countries to enhance their infrastructure and also offering basic standards to their people.
For instance, as per Ministry of China, Chinese government is expected to add 42 new airports over the period of 2016-2020. Moreover, Government of India is spending huge capital on developing infrastructure of the country and have planned to invest $30.02 billion on 100 smart cities by 2022.
Growing automobile industry is expected to promote molded plastics market
Molded plastics finds application in production of various parts such as headlights, mirrors, vehicle body parts and others owing to its benefits such as cost-effective production, high strength, enhanced design capabilities and more. As per International Organization of Motor Vehicle Manufacturers (OICA) (France), the global production of cars was estimated at 97,302,534 cars in 2017, showing an increase of 2.36% during the period of 2016-2017.
Moreover, the global sales of vehicles reached 97 million vehicles in 2017 up from 94 million in 2016 (as increase of 3.19% during period of 2016-2017), as per OICA (France). Rising production and sales of automobiles globally is promoting the adoption of molded plastics in the industry.
Molded plastics are lightweight and have a better strength which helps the manufacturers to maintain the strength needed in vehicles however keeping the weight as desired. Generally, using molded plastics as raw material helps the automobile manufacturers to reduce the overall cost of vehicle as molded plastic are more cost effective than metals, more efficient in manufacturing and designing process and they offer increased durability of a product.
In 2018, as per Invest Korea, IT Engineering Co. (South Korea), planned to make initial investment of $74.5 million for E-vehicle with North Jeolla Province (South Korea) to build 20,000 units per year in Jipyeong Sun Industrial Complex, Gimje.
In addition, in 2017, Mercedes Benz also announced $1 billion investment to start manufacturing electric cars in U.S. Thus, increasing vehicle production and adoption of molded plastics in automobiles for keeping the vehicles lightweight is expected to drive the molded plastics market globally.
Technological advancements and new product development is expected to offer lucrative opportunities
Companies operating in molded plastics market are continuously forming various strategies such as merger & acquisition, expansion, new product development, technological advancements and others to maintain their market share and presence.
Multiple active players which are part of molded plastics market includes Exxon Mobil (U.S.), LyondellBasell (The Netherlands), SABIC (Saudi Arabia), DowDuPont (U.S.), Formosa Plastics (Taiwan) and others. Technological advancements and product development is one of the major strategy adopted by these companies.
For instance, as per company sources, LyondellBasell Industries introduced Hyperzone-brand technology that helps in producing High-density polyethylene (HDPE) plastic resins with good balance of properties which includes chemical resistance and toughness benefiting film extrusion, blow molding, injection molding and other methods.
LyondellBasell Industries have announced to build a HDPE plant with 1.1 billion pound name plate capacity and $725 million investment at LaPorte, Texas (United States) and the plant is expected to open in 2019. In 2017, as per company sources, DowDuPont (U.S.) introduced next generation NORDEL ethylene-propylene-diene terpolymer (EPDM) technology facility that uses advanced molecular catalyst technology at Louisiana production unit.
As per the company sources, the technology enables to produce products with enhanced aesthetics, improved elastic, strength and others.
The facility is expected to develop products for automotive manufacturers. In 2017, as per company sources, Braskem (U.S.) enters into a partnership with A. Schulman, Inc. (U.S.) to manufacture and market green polyethylene (PE), a solution for roto-molding methods.
As per the company, the product contains more than 50% of green plastic helping in reducing greenhouse gas emission and finds application in developing toys, agriculture tools, furniture and others.
Key Topics Covered:
1. Introduction
1.1. Executive Summary
1.2. Estimation Methodology
2. Market Overview
2.1. Global Molded Plastics Market: Evolution & Transition
2.2. Market Definition & Scope
2.3. Industry Structure
2.4. Total Market Analysis
2.5. Estimation Analysis
2.6. Strategic Analysis
2.7. Competitive Analysis
2.8. Strategic Recommendations & Key Conclusion
3. Market Determinants
3.1. Market Drivers
3.1.1. Rising Adoption Of Lightweight Materials Across The Industries
3.1.2. Increasing Construction Activities
3.1.3. Increasing Packaging Industry And Adoption Of Plastics For Packaging
3.2. Market Restraints
3.2.1. Fluctuation In Raw Material Prices
3.2.2. Increasing Regulations On Conventional Plastics
3.3. Market Opportunities
3.3.1. Technological Advancements And New Product Development
3.3.2. Adoption Of Bioplastics
3.4. Market Challenges
3.4.1. Disposable Of Plastics Is A Major Challenge
4. Global Molded Plastics Market By Type
4.1. Market Definition And Scope
4.2. Decision Support Database & Estimation Methodology
4.3. Comparative Analysis Across Market Segments
4.4. Volume Estimation And Forecast 2015-2024
4.5. Opportunity Matrix
4.6. Market Segmentation
4.6.1. Global Polyethylene Market
4.6.2. Global Polypropylene Market
4.6.3. Global Polyvinyl Chloride Market
4.6.4. Global Polyethylene Terephthalate Market
4.6.5. Global Polyurethane Market
4.6.7. Global Polystyrene Market
4.6.8. Global Others Market
5. Global Molded Plastics Market By Application
5.1. Market Definition And Scope
5.2. Decision Support Database & Estimation Methodology
5.3. Comparative Analysis Across Market Segments
5.4. Volume Estimation And Forecast 2015-2024
5.5. Opportunity Matrix
5.6. Market Segmentation
5.6.1. Global Packaging Market
5.6.2. Global Automotive & Transportation Market
5.6.3. Global Construction & Infrastructure Market
5.6.4. Global Agriculture Market
5.6.5. Global Electronics & Electrical Market
5.6.6. Global Pharmaceutical Market
5.6.7. Global Others Market
6. Global Molded Plastics Market By Technology
6.1. Market Definition And Scope
6.2. Decision Support Database & Estimation Methodology
6.3. Comparative Analysis Across Market Segments
6.4. Volume Estimation And Forecast 2015-2024
6.5. Opportunity Matrix
6.6. Market Segmentation
6.6.1. Global Injection Molding Market
6.6.2. Global Blow Molding Market
6.6.3. Global Compression Molding Market
6.6.4. Global Film Insert Molding Market
6.6.5. Global Gas Assist Molding Market
6.6.6. Global Rotational Molding Market
6.6.7. Global Structural Form Molding Market
6.6.8. Global Others Market
7. Competitive Landscape
7.1. Key Strategies
7.1.1. List Of Mergers & Acquisition
7.1.2. List Of Joint Venture
7.1.3. List Of Product Launches
7.1.4. List Of Partnerships
8. Geographical Analysis
9. Company Profiles
- BASF SE (Germany)
- Chevron Corporation (U.S.)
- China Petroleum Corporation (China)
- Dowdupont (U.S.)
- Eastman Chemical Company (U.S.)
- Exxonmobil (U.S.)
- Formosa Plastics Group (Taiwan)
- Hanwha Group (South Korea)
- INEOS (Switzerland)
- LG Chem (South Korea)
- Lotte Chemical (South Korea)
- Lyondellbasell Industries Holdings B.V. (The Netherlands)
- Reliance Industries (India)
- Sabic (Saudi Arabia)
- Solvay S.A. (Belgium)
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