Global Injection Molded Plastics Market is Expected to Reach USD 252 billion in 2018: Transparency Market Research
Albany NY (PRWEB) November 28, 2012
The major factors which are driving the global injection molded plastics market include the growth of the global house ware and personal care market where polypropylene, one of the major resins used for injection molded plastics is majorly used. The growth of the global packaging market (mainly rigid packaging) is also boosting the global sales for injection molded plastics.
In the injection molded plastics market by application, packaging emerged as the biggest application segment capturing 31.9% of the market in 2011, followed by the consumables and electronics segment which shared 30.1% of the market for the same year. Consumables and electronics segment is also the fastest growing segment, growing at a CAGR of 5.1% from 2013 to 2018.
Polypropylene was the biggest resin/raw material used for production injection molded plastics in 2011, sharing 36.2% of the market in 2011 followed by Acrylonitrile Butadiene Styrene (ABS) with 27% of the market in 2011.
Globally, Asia Pacific is the biggest market and also the fastest growing market, growing at a CAGR of 5.1% from 2013 to 2018. The North American market for injection molded plastics is expected to grow at a CAGR of 4.7% from 2013 to 2018. Europe and Middle East are expected to grow at a CAGR of 4.6% and 5% respectively from 2013 to 2018.
The rising price of crude oil and the stringent regulatory issues owing to the negative impact of injection molded plastics on the environment is restraining the growth of the global market. Opportunities lie in the growing demand for injection molded plastics in the healthcare industry and the growing market for rigid packaging in the Asia Pacific market owing to rising demand from emerging economies like China and India.
This research is specially designed to estimate and analyze the demand and performance of injection molded plastics in a global scenario. This research provides in-depth analysis of injection molded plastics manufacturers, trend analysis by segments and demand by geography. The report covers all the major segments of the global injection molded plastics market and provides in-depth analysis, historical data and statistically refined forecasts for the segments covered.