The global molded plastic market is estimated to exhibit a CAGR of 6.1% over the forecast period.

Market Overview:

Molded plastics are the type of polymers, which can be molded into any size and shape for use in commercial applications. The use of pigments and other additives enhances the quality of the molded plastics. Molded plastics are used in various end-use industries, owing to their characteristics, such as durability, lightweight, and high chemical resistance. The automobile industry uses molded plastic for the manufacturing of airflow ducts, engine covers, wheel wells, car fascia, grilles, bumpers, and other components.

Extensive expansion and development in the construction, automotive, and packaging industry will boot growth in molded plastics market globally. For instance, according to Organization Internationale des Constructeurs Automobiles (OICA), the automotive industry increased with a growth rate of 4.5% during the period 2015-2016. Molded plastics are used in manufacturing automobiles that are environmentally sustainable and have low-carbon emission vehicles, which are increasingly in demand. The rapid modernization in emerging economies such as India, China, and Brazil has led to increasing expansion of the packaging industry owing to high outflow and inflow of fast-moving consumer goods, which will in turn boost growth of the molded plastic market. Furthermore, the electrical and electronic industry has a high demand for molded plastics as it is used in the manufacturing of electronic devices such as laptops, televisions, computers, and mobile phones.



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Market Dynamics:

The Asia Pacific was the largest market for injection molding in 2016 and is expected to retain its dominance during the forecast period. The high demand from the various end-use industries, such as packaging, building, construction, and automobile is expected to result in increasing demand for the molded plastic market. Moreover, the plastic injection molding process yields higher production in considerably less time with minimal production waste, hence, further boosting the growth of the global molded plastic market.


Market Taxonomy:

This report segments the molded plastic market on the basis of product, technology type, and application. On the basis of product type, the global molded plastic market is segmented into polyvinyl chloride, polypropylene, polystyrene, low-density polyethylene, Thermoforming, polyethylene terephthalate, and engineering plastics. Based on technology type, the market is segmented into injection molding, blow molding, compression molding, film insert molding, gas assist molding, rotational molding, structural form molding, and thermoforming. On the basis of application, the global molded plastic market is segmented into building and construction, electrical, and electronics, automotive, packaging, and others.



Major players operating in the global molded plastic market include Eastman Chemical Company, SABIC, Huntsman Corporation, LyondellBasell Industries N.V, INEOS Group AG, Chevron Phillips Chemical Company LLC, Reliance Industries Limited, Obeikan Investment Group (OIG), Takween Advanced Industries, and BASF SE.



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