(PRWEB) May 31, 2014
The global market for injection molded plastics is expected to reach USD 277.78 billion by 2020, according to a new study by Grand View Research, Inc. Increasing demand for plastic as a packaging material coupled with the growing packaging industry in Asia is expected to be a key factor driving market demand over the next six years. In addition, the growing need for weight reduction in automobiles is also expected to augment the demand for plastics as a substitute to metal which in turn is expected to increase the demand for injection molded ABS and polypropylene. Volatile crude oil prices coupled with growing environmental concerns is expected to be a key issue for market participants.
Packaging was the largest application segment of the market, accounting for over 30,000 kilo tons of demand in 2013. Growing preference towards plastics as packaging materials owing to their light weight and better aesthetics is expected to be a key factor driving the market over the forecast period.
The report “Injection Molded Plastics Market (Polypropylene, ABS, HDPE, Polystyrene) Analysis By Application (Packaging, Consumables and Electronics, Automotive, Building and Construction) And Segment Forecasts To 2020,” is available now to Grand View Research at http://www.grandviewresearch.com/industry-analysis/injection-molded-plastics-market.
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Further key findings from the study suggest:
Browse all upcoming reports by Grand View Research at http://www.grandviewresearch.com/ongoing-reports.
For the purpose of this study, Grand View Research has segmented the global Synthetic Lubricants market on the basis of application, product and region:
Browse All Plastics, Polymers & Resins Market Reports at http://www.grandviewresearch.com/industry/plastics-polymers-and-resins.
About Grand View Research
Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, customized research reports and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights. For more information, visit http://www.grandviewresearch.com.
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Grand View Research, Inc