According to a recent Fact.MR report, the global Molded Plastics market is expected to grow at a compound annual growth rate (CAGR) of 4.7% from 2022 to 2032, reaching a market value of US$ 260.5 billion by the end of 2032.

The demand for molded plastics is anticipated to rise during the forecast period, with the market projected to reach a global market size of US$ 165.8 billion by the end of 2022.

In recent years, the demand for molded plastics has surged across various end-use industries. To meet this demand, manufacturers have leveraged advanced technologies to produce durable products, leading to a reduction in product margins.

Several technologies are used in molded plastics manufacturing, including blow molding, injection molding, thermoforming, and extrusion. Among these, the extrusion process is widely adopted in large-scale manufacturing of items such as cans and bottles due to its cost-effective implementation compared to other methods.

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Companies have experienced a 2.5X growth in recent years by utilizing the aforementioned technologies. This trend is expected to continue, with the overall molded plastics market projected to grow at a CAGR of 4.7%, reaching a valuation of USD 260.5 billion by 2032, up from USD 165.8 billion in 2022.

Additionally, North America is the largest consumer and producer of molded plastics, holding a significant share of the global market. From a growth perspective, the South Asia and Oceania regions present the most lucrative opportunities. Various governments in these regions are incentivizing manufacturers with tax benefits, land, and transportation advantages.

In terms of segmental analysis, polypropylene remains the leading material, accounting for more than 1/5th of the global market share. It is anticipated to gain 273 BPS at a CAGR of 6.0%. Polypropylene is predominantly used in manufacturing drainage pipes, gas pipes, flooring tiles, windows, electrical conduits, doors, and other applications.

Which South Asia and Oceania Countries Account for Significant Molded Plastic Demand?

The availability of cost-effective labor, favorable regulations, and numerous government-backed projects are encouraging leading companies to establish their manufacturing units in developing South Asian countries such as India, Indonesia, and Thailand.

The abundant agricultural fields and the growing automotive industry in these nations are expected to drive the demand for molded plastics. Additionally, the rising population is creating a substantial need for medical infrastructure, prompting governments to allocate significant portions of their budgets for this purpose. This trend is expected to generate substantial revenue opportunities for market players in the coming years.

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Key Segments Covered in the Injection Molded Plastics Industry Survey

• Molded Plastics Market by Material :
• Polypropylene
• Polyethylene
• Polyvinyl Chloride
• Polystyrene
• Polyethylene Terephthalate
• Other Materials
• Molded Plastics Market by End Use :
• Packaging
• Consumables & Electronics
• Automotive & Transportation
• Building & Construction
• Other Applications

Competitive Landscape

The global molded plastics market is highly fragmented, with North American companies leading the market due to their extensive global presence. Industry players are prioritizing enhancements in R&D capabilities and focusing on the development of innovative products.

• In 2021, BASF expanded its polyamide product portfolio for high-temperature applications by launching a new brand, heat-stabilized Ultramid.
• In August 2021, LANXESS strengthened its position by acquiring Emerald Kalama Chemical, a prominent U.S.-based manufacturer of specialty chemicals.

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Key players in the Injection Molded Plastics Market

• BASF SE
• E. I. DU PONT DE NEMOURS AND COMPANY
• ExxonMobil Corp.
• DuPont de Nemours, Inc.
• Dow, Inc.
• Huntsman International LLC
• Eastman Chemical Company
• INEOS Group
• LyondellBasell Industries Holdings B.V.
• SABIC
• Magna International, Inc.

Key Takeaways from Injection Molded Plastics Market Study

• The molded plastics market is projected to increase its value by 1.6X by 2032.
• The polypropylene segment within molded plastics is currently capturing nearly one-fifth of the global market share and is expected to generate an absolute dollar opportunity of approximately USD 19.8 billion between 2022 and 2032.
• Among the applications, packaging has emerged as the fastest-growing segment, with a CAGR of 5.4%.
• In 2022, North America leads the global molded plastics market, with the United States expected to account for more than 91% of the market share, generating substantial revenue throughout the forecast period.
• The Indian molded plastics market is projected to dominate the South Asia and Oceania region, capturing more than two-thirds of the market share.

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