Injection Molded Plastics Market
Albany, New York (PRWEB) September 11, 2014
- Injection Molded Plastics Market: Industry Insights
The injection molds and prototype molding equipment are typically designed to address various objectives and constraints related to plastics and its desired shapes. Injection molding is used for both thermosetting plastics and thermoplastics. It is a manufacturing process of producing a component or an article by forcing molten plastic material under high pressure into a mold where it is solidified, cooled, and released by carefully opening the two halves of the mold.
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- Growth Factors of Injection Molded Plastics Market
The major growth factors driving this market are the personal care market, as well as global house ware market including polypropylene (main resin used for injection molded plastics technique). However, another factor is the global packaging market, particularly the rigid packaging industry that is boosting the global sales for injection molded plastics.
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The packaging segment in the injection molded plastics market by application is viewed as the biggest application segment driving and capturing the overall market with 31.9% of the market in 2011. Nevertheless, this is 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.
- Global Market Scenario
The global market for injection molded plastics was estimated to be close to 79,079.5 kilo tons in 2010 which is expected to reach 116,171.4 kilo tons by the end of 2018, growing at a CAGR of 4.9% from 2013 to 2018. Considering in terms of revenues, this market was estimated to be worth USD 168 billion in 2010 which is further expected to reach a market worth USD 252 billion by 2018, growing at a CAGR of 5.3% from 2013 to 2018. Asia Pacific was the largest market for injection molded plastics in 2011, sharing 37.2% of the market followed by North America and Europe.
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- Competitive Analysis on Geographic Countries
The global injection molded plastics market is segmented with a large number of participants operating in the market. According to industry’s best research analysts and their market study, a cross-sectional analysis with respect to geographical markets have resulted in four major regions namely; Asia-Pacific, Europe, North America, and Rest of the World (RoW).
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Of all the regions globally, Asia Pacific is the biggest market and also one of the fastest growing markets in the industry. It is growing at a CAGR of 5.1% from 2013 to 2018. The scope for opportunities in Asia-Pacific regarding the growing demand for injection molded plastics in the healthcare industry, as well as the growing market for rigid packaging has undergone excellence in terms of growth and market size. Also, the market value in this region is high in number due to the rising demand for injection molded products from emerging economies like China and India.
Consequently, the North American market for injection molded plastics is expected to grow at a CAGR of 4.7% from 2013 to 2018. Considering Europe and the Middle East regions, the injection molded plastics in these locales is expected to grow at a CAGR of 4.6% and 5% respectively from 2013 to 2018.
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