LONDON, March 28, 2018 /PRNewswire/ -- Download the full report: https://www.reportbuyer.com/product/5360517
The global injection molded plastics market size is expected to reach USD 496.22 billion by 2025, according to a new report by Grand View Research, Inc., progressing at a CAGR of 6.0% during the forecast period. Growing demand from various end-use industries including automotive, packaging, and construction, particularly in the BRICS (Brazil, Russia, India, China, and South Africa) nations, is likely to drive the market. There has been an increment in manufacturing capacity in high-growth regions such as Middle East and Asia Pacific over the last few years, which has helped the market gain significant momentum.
Increasing outreach of major plastic injection molding companies in China, thanks to low manufacturing costs and abundant availability of skilled labor, is projected to benefit the APAC market.Major overseas companies are expanding their production capabilities in the region to cater to growing demand.
China and India are majorly driving the production landscape of the Asia Pacific injection molded polypropylene market.
High-density polyethylene (HDPE) is widely used in thin wall injection molding for packaging applications.Increasing demand for packaging in food, thin gauge bags, and bin liners is anticipated to fuel its consumption over the forecast period.
Increasing injection molded HDPE penetration in industrial pails, shipping containers, and houseware applications is estimated to escalate the growth of the market.
Further key findings from the report suggest:
• The global injection molded plastics demand was more than 130 million tons in 2016 and is poised to witness a CAGR of 4.4% from 2017 to 2025
• Demand for injection molded plastics in the medical sector is expected to rise at a CAGR of 5.0% during the forecast period owing to rising consumer healthcare expenditure in countries such as India, Brazil, Mexico, and Russia
• The packaging industry was the leading revenue contributor in 2016, representing close to 31.0% of the overall market revenue
• Demand for injection molded polypropylene (PP) products is estimated to hold a little over 36.0% of the overall volume by 2025
• The Asia Pacific injection molded plastics market is anticipated to post a CAGR of 6.6% in terms of revenue during the forecast period
• Some of the major players operating in the global arena are LyondellBasell, ExxonMobil, DuPont, Huntsman Corporation, BASF, Dow Chemicals, Eastman Chemical Company, and SABIC.
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