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Injection Molded Plastics Market Report by Raw Material (Polypropylene (PP), Acrylonitrile Butadiene Styrene (ABS), High-Density Polyethylene (HDPE), Polystyrene (PS), and Others), Application (Packaging, Consumables and Electronics, Automotive and Transportation, Building and Construction, Medical, and Others), and Region 2024-2032
Report Format: PDF+Excel | Report ID: SR112024A6009
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Injection Molded Plastics Market Size:
The global injection molded plastics market size reached USD 304.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach USD 418.5 Billion by 2032, exhibiting a growth rate (CAGR) of 3.5% during 2024-2032. The market is majorly driven by increasing demand in key industries such as healthcare, automotive, and packaging, mainly fueled by their durable and lightweight attributes. At present, Asia Pacific holds the largest market share, principally due to increasing industrialization, amplified manufacturing activities, and escalating consumer goods demand.
|
Report Attribute
|
Key Statistics
|
|---|---|
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Base Year
|
2023
|
|
Forecast Years
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2024-2032
|
|
Historical Years
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2018-2023
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Market Size in 2023
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USD 304.0 Billion |
|
Market Forecast in 2032
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USD 418.5 Billion |
| Market Growth Rate 2024-2032 | 3.5% |
Injection molded plastics are manufactured using thermoplastics, such as acrylonitrile butadiene styrene (ABS), high-density polyethylene (HDPE), low-density polyethylene (LDPE), polycarbonate (PC), polyamide (nylon), high impact polystyrene (HIPS), and polypropylene (PP). They are cost-effective and lightweight and consequently, their utilization is rising across the globe for producing numerous consumer goods. Besides this, they are also employed in different industries, such as packaging, electronics, and healthcare.
Injection Molded Plastics Market Trends:
Increasing Product Demand from Automotive Sector
The global injection molded plastics market is witnessing a robust requirement from the automotive industry, primarily driven by the sector’s emphasis on lightweight materials to enhance fuel efficiency and minimize emissions. Injection molded plastics are rapidly being leveraged in automotive components, replacing conventional metals due to their cost-efficiency, adaptability, and excellent durability. Moreover, with the increase in electric vehicles (EVs) sales and stringent regulatory policies for environmental sustainability, the need for high-performance plastics in vehicle production is anticipated to propel. As per industry reports, in 2024, the sales for plug-in hybrid vehicles and battery-electric vehicles elevated by 22% to 1.35 million units. In addition, this trend is supporting the proliferation of the injection molded plastics market, especially in regions with robust automotive manufacturing abilities.
Amplifying Product Applications in Healthcare
According to the injection molded plastics market forecast, healthcare sector is anticipated to remain one of the predominant drivers for the global market. Various surgical tools, medical devices, and pharmaceutical packaging are currently dependent on injection molded plastics for their accuracy, cost-effectiveness, and sterility. For instance, in August 2024, PCPI Plastics announced a strategic acquisition of Sonolite Plastics Corporation’s injection molded medical product line to integrate the manufacturing of medical product into its U.S-based facility. Moreover, such plastics provide benefits such as ease of sterilization, excellent biocompatibility, and lightweight attributes, establishing them as an ideal option for cutting-edge healthcare technologies and disposable medical products. In addition, with ongoing innovations in medical technology and an increasing focus on infection control, the utilization of such advanced plastics is positioned for stable expansion, reinforcing the injection molded plastics market growth in this industry. Furthermore, the magnifying demand for patient-specific and customized medical devices is further fueling the adoption of injection molded plastics in the healthcare industry. Additionally, manufacturers are actively leveraging upgraded molding techniques to produce complex designs with increased precision. This trend, combined with amplifying healthcare investments globally, is anticipated to substantially bolster the expansion of the injection molded plastics market in the coming years.
Increasing Demand for Sustainable Plastics
The injection molded plastics market is witnessing a notable inclination towards sustainability, with heightening demand for recyclable and environmentally friendly materials. Industries as well as customers are increasingly demanding for environmentally responsible products, compelling manufacturers to innovate with recycled plastics and bioplastics, further increasing the injection molded plastics market demand. Furthermore, is trend is particularly driven by the global increase in plastic pollution. As per industry reports, approximately 75 to 199 million tons of plastic waste is aggregated in the oceans, while 33 billion pounds of plastic is estimated to enter the marine ecosystem annually. As a result, numerous companies are rapidly adopting circular economy methods, integrating sustainable raw materials into their manufacturing processes. In addition, innovations in biodegradable plastics technology are providing feasible alternatives to traditional plastics, addressing both customer preferences and environmental regulations. Moreover, as regulatory policies become stricter regarding plastic waste and their adverse environmental impact, the market is anticipated to experience a proliferation of sustainable plastics solutions, further bolstering the demand for plastics that align with green manufacturing methods, ultimately contributing to a positive injection molded plastics market outlook.
Injection Molded Plastics Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on raw material and application.
Breakup by Raw Material:
- Polypropylene (PP)
- Acrylonitrile Butadiene Styrene (ABS)
- High-Density Polyethylene (HDPE)
- Polystyrene (PS)
- Others
Polypropylene (PP) accounts for the majority of the market share
The report has provided a detailed breakup and analysis of the market based on the raw material. This includes polypropylene (PP), acrylonitrile butadiene styrene (ABS), high-density polyethylene (HDPE), polystyrene (PS), and others. According to the report, polypropylene (PP) represented the largest segment.
Breakup by Application:
- Packaging
- Consumables and Electronics
- Automotive and Transportation
- Building and Construction
- Medical
- Others
Packaging holds the largest share of the industry
A detailed breakup and analysis of the market based on the application have also been provided in the report. This includes packaging, consumables and electronics, automotive and transportation, building and construction, medical, and others. According to the report, packaging accounted for the largest market share.
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Asia Pacific leads the market, accounting for the largest injection molded plastics market share
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific represents the largest regional market for injection molded plastics.
Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global injection molded plastics market. Detailed profiles of all major companies have also been provided. Some of the companies covered include:
- BASF SE
- Berry Global Inc.
- Chevron Phillips Chemical Company LLC
- Dow Inc.
- Eastman Chemical Company
- ExxonMobil Corporation
- Heppner Molds Inc.
- Huntsman International LLC
- Ineos Group Ltd
- LyondellBasell Industries N.V.
- Mitsubishi Chemical Corporation
- Rutland Plastics Limited
- Saudi Basic Industries Corporation
Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Injection Molded Plastics Market News:
- In January 2024, Arterex, a leading medical device company, announced a strategic acquisition of Micromold Inc., a prominent injection molded plastics provider. As per agreement terms, Micromold will allocate its 24/7 operations to Arterex’s division in Mexico.
- In June 2024, New Pendulum Corporation announced strategic acquisition of Bardot Plastics Inc., an injection molding company. This move is anticipated to expand New Pendulum’s presence in plastic manufacturing segment, with its portfolio now including injection as well as rotational molding.
Injection Molded Plastics Market Report Scope:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Units | Billion USD |
| Scope of the Report | Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Future Market Assessment:
|
| Raw Materials Covered | Polypropylene (PP), Acrylonitrile Butadiene Styrene (ABS), High-Density Polyethylene (HDPE), Polystyrene (PS), Others |
| Applications Covered | Packaging, Consumables and Electronics, Automotive and Transportation, Building and Construction, Medical, Others |
| Regions Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Countries Covered | United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
| Companies Covered | BASF SE, Berry Global Inc., Chevron Phillips Chemical Company LLC, Dow Inc., Eastman Chemical Company, ExxonMobil Corporation, Heppner Molds Inc., Huntsman International LLC, Ineos Group Ltd, LyondellBasell Industries N.V., Mitsubishi Chemical Corporation, Rutland Plastics Limited, Saudi Basic Industries Corporation, etc. (Please note that this is only a partial list of the key players, and the complete list is provided in the report.) |
| Customization Scope | 10% Free Customization |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The global injection molded plastics market was valued at USD 304.0 Billion in 2023.
We expect the global injection molded plastics market to exhibit a CAGR of 3.5% during 2024-2032.
The rising adoption of injection molded plastics across various industries, such as packaging, electronics, healthcare, etc., for manufacturing films, bags, medical devices, cellular phones, utensils, athletic apparel, etc., is primarily driving the global injection molded plastics market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary closure of numerous end-use industries for injection molded plastics.
Based on the raw material, the global injection molded plastics market has been segregated into Polypropylene (PP), Acrylonitrile Butadiene Styrene (ABS), High-Density Polyethylene (HDPE), Polystyrene (PS), and others. Among these, Polypropylene (PP) currently holds the largest market share.
Based on the application, the global injection molded plastics market can be bifurcated into packaging, consumables and electronics, automotive and transportation, building and construction, medical, and others. Currently, the packaging industry exhibits a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.
Some of the major players in the global injection molded plastics market include BASF SE, Berry Global Inc., Chevron Phillips Chemical Company LLC, Dow Inc., Eastman Chemical Company, ExxonMobil Corporation, Heppner Molds Inc., Huntsman International LLC, Ineos Group Ltd, LyondellBasell Industries N.V., Mitsubishi Chemical Corporation, Rutland Plastics Limited, and Saudi Basic Industries Corporation.
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