Global Injection Molded Plastics Market Is Anticipated To Witness Significant Growth Due To Increasing Demand For Plastics And Rising Demand In The Automotive

 

Injection Molded Plastics Market 

Overview:

Injection Molded Plastics are produced in a wide variety of materials and colors. This process offers excellent precision and repeatability at a very low cost. It is also highly flexible and allows for a huge range of design options. The material itself is usually a thermoplastic polymer, meaning it can be repeatedly melted and solidified to form new shapes and sizes. Thermoplastics are a good choice for injection molding as they have a high level of recyclability, as well as high strength and wear resistance. There are a few key design issues that need to be addressed during the product design phase of a project. Another feature that can be added to an injection molded part is a screw or thread. This can be done by designing a thread directly on the part, by creating a boss where a screw can be attached, or by including a threaded insert.

Market Dynamics:

Rising product launches are estimated to augment growth of the global Injection Molded Plastics Market over the forecast period. For instance, Avient Corporation added Injection moldable thermoplastic elastomers to their Versaflex line in August 2020. This product can be used for various medical applications and it is created without any animal derivatives. Moreover, high starting cost of injection molding machines is anticipated to restrain growth of the global injection molded plastics market over the forecast period.

Impact of COVID-19:

COVID-19 was first recognized in 2019 and it spread to more than a 100 nations. The pandemic affected the healthcare sector of many countries. The pandemic led to shutting down of manufacturing activities in many nations. Travel bans were imposed which disrupted supply chains of many products. Trade was hampered between many nations as import and export activities were banned. There was a shortage of raw materials and this hampered the production activities in many companies. Thus, there was a decrease in demand for plastic products. Hence, the global Injection Molded Plastics Market witness a decrease in growth during the pandemic.

 

Key Takeaways:

The global Injection Molded Plastics Market is expected to witness high growth, exhibiting CAGR of 5.8 % over the forecast period, due to increasing investments. For instance, ALPLA has decided to invest USD 850,000 for a mold shop in India in July 2022. This mold sold will develop local solutions using global technology.

Asia Pacific is anticipated to witness significant growth in the global injection molded plastics market over the forecast period, owing to growing automobile demand and rising expenditure on infrastructure.

Major players operating in the global Injection Molded Plastics Market are Heppner Molds, BASF SE, SABIC, DuPont de Nemours, Inc., INEOS Group, Dow, Inc., Huntsman International LLC, IAC Group, HTI Plastics, Inc., Rutland Plastics, INEOS Group, Berry Global, Inc., Lacks Enterprises, Inc., SABIC, AptarGroup, Inc., LyondellBasell Industries Holdings B.V., Eastman Chemical Company, and The Rodon Group.