Injection Molded Plastics Market to be Worth $423.7 Billion by 2030: Million Insights

FELTON, Calif., Nov. 8, 2022 /PRNewswire/ -- The global injection molded plastics market size was USD 284.7 billion in 2021, which is projected to increase at a 4.2% CAGR and achieve USD 423.7 billion by 2030. The presence of plastic components in various end-use sectors, technological innovations, and price volatility of raw materials are the factors to drive the demand for injected molded plastics and its market growth during the forecast period.

Key Industry Insights & Findings from the report:

• Based on raw material insights, the polypropylene segment upheld 34% of revenue share in 2021 owing to its penetration in food packaging, electrical contacts, and battery housings.
• In 2021, acrylonitrile butadiene styrene (ABS) was the second-largest raw material due to its extensive use in electronic housing, medical devices, automotive components, and consumer appliances.
• Based on application insights, the packaging segment accounted for the largest revenue share of 30% owing to properties of increased durability, long shelf-life, resistance to tear, and suitable wear.
• Based on regional insights, Asia Pacific dominated the market with a 39% revenue share and is anticipated to propel the market penetration with an increase in demand for automobiles in Malaysia, China, India, and Indonesia.
• Based on technological advancement, resin formulations were evolved in 2021 with the aim to make injection-molded plastics more durable, provide strength, and lower the weight capacity.

Read 140 page full market research report for more Insights, "Injection Molded Plastics Market Size, Share & Trends Analysis Report, By Raw Material, By Application, By Region And Segment Forecasts From 2022 To 2030", published by Million Insights.

Injection Molded Plastics Market Growth & Trends 

The market challenge for increasing concerns about the disposal of raw materials also negatively affects the environment. To combat this, global companies have intended to make use of bio-based counterparts for manufacturing of injection-molded plastics. Therefore, the use of biodegradable polymers is regarded as a renewable resource to produce plastics without leading to environmental hazards. 

The governments in India and China have made initiatives to boost foreign direct investments particularly include attracting financial investments and offering tax benefits, that is likely to boost market growth in the forecast period. Besides, the low labor costs have resulted in reduced manufacturing costs, which have augmented plastic products' production. 

Injection Molded Plastics Market Segmentation

Million Insights has segmented the global injection molded plastics market on the basis of raw material, application, and region:

Injection Molded Plastics Market - Raw Material Outlook (Volume, Kilotons, Revenue, USD Million, 2019 - 2030)

• Polypropylene (PP)
• Acrylonitrile Butadiene Styrene (ABS)
• High-Density Polyethylene (HDPE)
• Polystyrene (PS)
• Others

Injection Molded Plastics Market - Application Outlook (Volume, Kilotons, Revenue, USD Million, 2019 - 2030)

• Packaging
• Consumables & Electronics
• Automotive & Transportation
• Building & Construction
• Medical
• Others

Injection Molded Plastics Market - Regional Outlook (Volume, Kilotons, Revenue, USD Million, 2019 - 2030)

• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Asia Pacific
• China
• India
• Japan
• Central & South America
• Brazil
• Middle East & Africa
• Saudi Arabia

List of Key Players of Injection Molded Plastics Market

• ExxonMobil Corp.
• BASF SE
• DuPont de Nemours, Inc.
• Dow, Inc.
• Huntsman International LLC
• Eastman Chemical Company
• INEOS Group
• LyondellBasell Industries Holdings B.V.
• SABIC
• Magna International, Inc.
• IAC Group
• Berry Global, Inc.
• Master Molded Products Corp.
• HTI Plastics, Inc.
• Rutland Plastics
• AptarGroup, Inc.
• Lacks Enterprises, Inc.
• The Rodon Group
• Heppner Molds

Check out more latest studies published by Million Insights:

• Plastic Market - The global plastic market is poised to total USD 593.00 billion in 2021 and is anticipated to exhibit growth at a CAGR of 3.7% from 2022 to 2030. The growth of the market is attributed to the rising use of plastics in the automotive, construction, and electrical & electronics industries. The need to make product lightweight to increase the efficiency of vehicles and to reduce carbon emissions is extending the demand for plastics instead of aluminum and steel for manufacturing automotive parts.
• Plastic Compounding Market - The global plastic compounding market size is anticipated to reach USD 112.08 billion by 2030, advancing at a steady CAGR of 7.4% during the forecast period of 2022 to 2030. The process of plastic compounding involves the customization of the basic plastic raw material using various additives for achieving the required property, colors, and performance requirements.
• Ammunition Market - The global ammunition market was valued at USD 22.7 billion and is projected to witness a growth of USD 29.68 billion by 2030 at a CAGR of 3.2%. There are various factors determining market growth including the militarization of the police forces, change in the warfare nature, increase in drug trafficking, and rise in terrorist activities.
• Collagen Market - The global collagen market size is estimated to reach USD 16.7 billion by 2028 expanding at a CAGR of 9.0% from 2021 to 2028. The escalating adoption of collagen for wound healing treatments and cosmetic surgeries is boosting product demand across the world. Furthermore, expanding application areas of collagen including widespread acceptance in the food & beverages sector and the surging usage in the cosmetics sector are projected to fuel the market growth.
• Digital Health Market - The global digital health market size is poised to reach USD 1.5 trillion by 2030, registering a CAGR of 27.7% from 2022 to 2030. The increasing smartphone penetration is broadening the scope of these devices from entertainment and communication to crucial application areas including health monitoring.

Explore more Market Research Reports by Million Insights, for industry specific reports that provide real-time market trends and forecasts, by condensing the integral elements from our industry reports into bite-sized paragraphs, charts, and tables.

Access More Press Releases

About Million Insights:

Million Insights, is a market research and consulting company, provides syndicated as well as customized research reports and consulting services. We have a comprehensive marketplace, that will enable you to compare data points, before you make a purchase. Enabling informed buying, is our motto and we strive hard to ensure that our clients get to browse through multiple samples, prior to an investment. Service flexibility & the fastest response time are two pillars, on which our business model is founded. Our market research report store includes in-depth reports, from across various industry verticals, such as healthcare, technology, chemicals, food & beverages, consumer goods, material science & automotive.

Contact:

Ryan Manuel 
Research Support Specialist, USA
Million Insights
Phone: 1-408-610-2300
Toll Free: 1-866-831-4085
Email: [email protected]
Web: https://www.millioninsights.com/
Follow Us: LinkedIn | Twitter

SOURCE Million Insights