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The Global Injection Molded Plastics market size is estimated to grow by USD 83.3 million at a CAGR of 4.18% between 2022 and 2027.
The market's growth is contingent upon several key factors. Firstly, there is a notable increase in demand for injection-molded plastics from developing countries, indicating a growing market opportunity driven by economic development and industrialization. Secondly, the growth in the automotive industry, with its reliance on plastic components for various applications, further propels market expansion. Lastly, the packaging industry's increasing demand for injection-molded plastics, driven by trends favoring lightweight and durable packaging solutions, contributes significantly to market growth. As these factors converge, the injection-molded plastics market is poised for sustained expansion, with opportunities for innovation and market penetration across diverse industries.
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The market is thriving across diverse industries, including food & beverages, retail, and personal care & beauty, driven by cutting-edge technologies like the Sodick Injection Molding Press. These plastics find extensive applications in biomedical, electrical and electronics industry, and automotive parts, catering to the stringent requirements of the medical devices industry. Utilizing materials like acrylonitrile butadiene styrene (ABS) and thermoplastic elastomers, manufacturers ensure precision in injection molded technology for various products. Despite challenges such as regulatory requirements and currency fluctuations, the market maintains resilience, adjusting to production volume fluctuations and raw materials trade-related tariffs. As demand fluctuates, the market's elasticity of demand & supply remains crucial, with a continued emphasis on innovative solutions in packaging to meet evolving consumer needs. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
One of the key factors driving the market growth is the increase in the use of plastic in the automotive field industry. There is an increasing preference for plastic components as a replacement for metal and alloys in the production of automobile components which can significantly contribute to market growth. Some of the main automobile components that are manufactured using injection include automotive bumpers, spoilers, dashboards, and wheel covers.
Moreover, armrests, interior bezels, and trim panel splash guards for automobiles are also manufactured using molded plastics. The high adoption of injection in the automobile industry is due to their better flexibility when compared to metal and alloy substrates. Hence, such factors are positively impacting the market which in turn will drive the market growth and trends during the forecast period.
A key factor shaping the market growth is the increasing innovations in the global packaging industry. There is increasing adoption of injection in active packaging, modified atmosphere packaging (MAP), and intelligent packaging. The main advantages of active packaging are that it contains oxygen scavengers, moisture absorbers, and carbon dioxide absorbers and provides temperature control.
Moreover, there is an increasing application for manufacturing cans, bottles, and closures. The demand is further fuelled by innovations in bottles and cans used for packaging food and beverages and medicines. Hence, such factors are expected to drive market growth during the forecast period.
The threat of substitutes is one of the key challenges hindering the market growth. The rising adoption of alternatives including aluminum, stainless steel, and copper can pose a major threat to the market growth. There is increasing use of Metal injection molding in high-end commercial applications in automobiles, electrical and electronics, and the medical industry.
Moreover, the main advantage of metal-molded components is that it has better strength and durability when compared to plastic-molded components making them ideal for several applications. Some of the key applications of injection molding metals include drug delivery devices, orthodontic brackets, and joint replacement equipment for medical use. Hence, such factors are expected to hinder market growth during the forecast period.
The market trends and analysis market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market growth analysis report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
All Plastics LLC: The company offers medical injection molding which is a plastic molding and manufacturing process involving liquefied plastic into a mold to create plastic products of various shapes and sizes.
The market forecasting report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The Injection molding manufacturers play a crucial role in various sectors, including electrical & electronics applications, home appliances industry , and automobile production. Amidst challenges like labor costs and geopolitical conflicts, they cater to diverse industries such as food & beverage packaging, addressing demands for fuel efficiency in automobile production. With support from local governments through subsidies and specialized policies, manufacturers navigate through clearances and avail economic incentives. The market witnesses growth across segments like Polypropylene, meeting demands from the electronics industry for protective caps and electrical contacts. Additionally, in the medical field, there's a need for biocompatibility and optical clarity, driving the demand for medical-grade polymers and biodegradable polymers in healthcare industries. Despite regulatory challenges, manufacturers like HTI Plastics adapt to meet end-user criteria and adhere to regulatory guidelines to ensure quality and compliance.
The packaging segment is estimated to witness significant growth during the forecast period. There is an increasing adoption of injection in the food and beverages industry to manufacture cans for beverages, packaging material (for food), and caps. The main classifications of packaging are rigid and flexible. It is widely used for the manufacturing of rigid plastics.
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The packaging segment was the largest segment and was valued at USD 107.41 million in 2017. Some of the rigid injection molding plastic applications include cups, bottles, and cans. The main industries where there is an increase in the application of rigid plastics include pharmaceutical, chemical, and consumer goods. Additionally, the key materials used in the manufacturing of injection are polypropylene, acrylonitrile butadiene styrene, and high-density polyethylene. The low cost, compatibility, and flexibility of these materials are fuelling the adoption for packaging applications. Furthermore, the increased demand for packaging along with the growth of the e-commerce industry is expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.
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APAC is estimated to contribute 65% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. One of the main countries which are significantly contributing to the growth of the market in APAC is China and India. Factors such as the rapid expansion of the end-user industries, including e-commerce, fast-moving consumer goods (FMCG), and pharmaceuticals are significantly fuelling the growth of the market in the region.
Moreover, several countries including China, India, and Japan have a rapidly growing e-commerce industry and packaging is an integral part of this industry as products are more vulnerable to damage during transportation. Thus, there is an increasing demand that can be used in the production of multi-layered packaging products, that offer improved protection during transit. Hence, such factors are expected to drive market growth in APAC during the forecast period.
The global market faced a negative demand shock amid the pandemic, witnessing a decline before slowly inching back towards prepandemic levels. Despite challenges, major applications in building & construction, electrical & electronics, containers, and food packaging remained robust. UV resistance, an array of colors, and adaptability to LEDs and electronic assemblies furthered its appeal across industries. Major players, equipped with modern production facilities, cater to both local and global markets, leveraging technologies like Sodick injection molding presses. While certain sectors like building & construction and electrical & electronics experienced mixed growth, rising demand persisted.
Government regulations and the pandemic situation influenced global production, particularly in automotive. Continuous innovation, an integrated approach to product design, and advancements in micro injection molding propelled the market forward, addressing complex applications in medical devices and beyond. Emerging technologies such as IoT and automation streamline injection molding operations, facilitated by monitoring tools like BOY Machines' Status App for remote monitoring, particularly in sectors like food packaging and containers, where eco-friendly and recyclable solutions are in demand, aligning with government bodies' sustainability initiatives. Techniques like blow molding, polymer casting, and 3D printing complement injection molding, offering solutions for a variety of applications ranging from automotive components to toys.
The market research and growth report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Industry Scope |
|
Report Coverage |
Details |
Page number |
166 |
Base year |
2022 |
Historic period |
2017 - 2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.18% |
Market growth 2023-2027 |
USD 83.3 million |
Market structure |
USD Fragmented |
YoY growth 2022-2023(%) |
3.81 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 65% |
Key countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
All Plastics LLC, Biomerics LLC, BORCHE North America INC., C and J Industries Inc., Currier Plastics Inc., D and M Plastics LLC, ENGEL Austria GmbH, EVCO Plastics, Formplast GmbH, H and K Muller GmbH and Co. KG, Hehnke GmbH and Co KG, HTI Plastics, Husky Technologies, Majors Plastics Inc., Mold Hotrunner Solutions Inc., Proto Labs Inc., Tessy Plastics Corp., The Rodon Group, TR Electronic, and Woojin Plaimm Co. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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