Market Research Future Published a Research Study on Molded Plastic Market Research Report, Size, Share and Industry Analysis – Forecast to 2023
Molded PlasticMarket: Insights
Growing demand for environmentally friendly, low-carbon vehicles has increased the use of molded plastics in the automotive industry to increase fuel consumption and reduce vehicle weight.
The growth of the global molded plastics market, however, is hampered by high upfront costs and short production cycles that can form a barrier to market participants.
The growth of the global molded plastics market is due to the growing use in the consumer packaging, household cleaning, and consumer electronics industry. Rapid growth in the construction, electricity and electronics, automotive, and packaging sectors is expected to increase demand for molded plastics over the forecast year. The use of molded plastics in the electronics and electrical industry has augmented considerably in recent years on laptops, mobile phones, computers, and televisions. Molded plastics are also approximately used in automotive applications such as bonnets, grilles, airflow ducts, cowlings, and bumpers.
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Major Players
The global molded plastics market is majorly divided driven by well-established manufacturers such as
- Eastman Chemical Company
- DuPont
- HTI Plastics
- Reliance Industries Limited
- BASF SE
- Harwal Group of Companies
- INEOS
- LyondellBasell Industries Holdings BV
- Magna International Inc.
- SABIC
- Exxon Mobil Corporation
- Takween Advanced Industries
Market Segmentation
The global molded plastics market is divided based on application, material, technology, and region.
The type segment is broadly classified into polyvinylchloride, polypropylene, polyethylene terephthalate, polystyrene, polyethylene, and others
Based on the application, the market is diversified into automotive, packaging, building and construction, electronics, and others.
On the basis of technology, the global molded plastics market is diversified into extrusion molding, injection molding, thermoforming, blow molding, and others.
Regional Insights
The Asia Pacific region dominated the global molten plastics market in 2017 due to the growing acceptance of the packaging, construction, and automotive industries in the region. The growing need for environmentally friendly, low-carbon vehicles has further increased the use of molded plastics in the production of light fuel-efficient cars. In addition, the swift growth of developing economies such as India, China, and several ASEAN nations has led to spur in demand for molded plastics in numerous sectors. Several manufacturers have moved to China, India, and Indonesia. This, combined with economic growth and population growth, is expected to stimulate market growth in the region.
The European market is also anticipated to grow as a result of growth in space and defense industry, with major established aircraft OEMs such as Dassault Aviation, Airbus Group, and BAE Systems. Molded plastic is used in the aerospace industry for battery boxes, pitot tubes, pushbuttons, switch boxes, and connectors. Also, the recovery of the automotive industry with increased light vehicle production is expected to stimulate demand for molded plastics in the region. North America is another important region for the molded plastics market due to the recovery of established industries such as construction, automotive and electronics.
The Latin American market is growing considerably with the growing demand for products in the packaging industry. The use of rigid plastic has spurred considerably owing to its non-corrosive, lightweight and inexpensive, which is likely to stimulate market growth in the region.
The market in the Middle East and Africa is expected to see strong growth during the reporting period due to the booming construction sector and the rapid industrialization of the region. Demand for products is increasing in the construction sector in countries like Saudi Arabia and Qatar, due to the upcoming FIFA 2022 World Cup event.
Browse Key Industry insights spread across 100 pages with 47 market data tables & 12 figures & charts from the Report, “Molded Plastic Market: Information by Material (Polypropylene, Polyvinylchloride, Polystyrene), Technology (Injection Molding, Blow Molding, Thermoforming), Application (Packaging, Electronics, Building and Construction), Region—Forecast till 2023” in detail along with the table of contents@ https://www.marketresearchfuture.com/reports/molded-plastic-market-6395
Recent Updates
VersaFlex Labeling System developed by Mold In Graphic Systems is one of the versatile methods to decorate injection-molded, blow-molded, rotationally and thermoformed molded polyolefin products. The company marked its name in around decades ago in permanent labelling molded polyolefins and has come up with a noteworthy development in injection molding.
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