Injection Molded Plastics Market Size, Share, Demand, & Growth in Coming Years


Posted July 3, 2020 by manishbaghel

The injection molded plastics market is growing on account of the rising demand for such materials in the automotive sector and the expanding construction niche in emerging economies.
 
The injection molded plastics market is growing on account of the rising demand for such materials in the automotive sector and the expanding construction niche in emerging economies. In 2016, the sale of such materials generated $283.5 billion, while in 2025, the sales are predicted to be worth $496.2 billion. During the forecast period (2017–2025), the market would see a CAGR of 6.0%. Injection-molded plastics are those plastics, in the form of granules, that are melted until soft and then injected in a mold, for shaping into numerous components and parts.

Acrylonitrile butadiene styrene (ABS), polypropylene (PP),polystyrene, and high-density polyethylene (HDPE) are the major categories of the injection molded plastics market, when segmented on the basis of raw material. Among these, the PP category led the market, with an over 25% volume and value share, in 2016. The compatibility of PP with a range of applications and its low cost make it the preferred raw material for the injection molding purpose in the manufacturing of automotive and electrical circuit components, packaging products, consumer goods, and battery housings.

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One of the major factors driving the injection molded plastics market is the rising penetration of the process in the automotive domain. Owing to technological advancements, new methods of making automotive components are becoming popular, which include injection molding. Earlier, steel was the material of choice for making auto parts, but with the increasing focus on decreasing the weight of the vehicles, in order to raise their fuel efficiency, plastics are finding their way into the industry.

With continuous innovation, traditional plastics are getting replaced by thermoplastic elastomers, which are high-performance materials with properties of both, plastic and rubber. The use of such injection-molded thermoplastic elastomers can reduce the vehicle weight by up to 40%. The Corporate Average Fuel Economy regulations in the U.S. have made it mandatory for automakers to achieve a substantial reduction in the fuel consumption by their vehicles, which can be done by decreasing the vehicle weight. A drop in the weight also helps in the production of electric vehicles, by leaving room for heavyweight batteries.
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Issued By Manish Kumar
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Country India
Categories Business , Industry , Research
Tags Injection Molded Plastics Market , injection molded plastics market Growth , Injection Molded Plastics Market size , Injection Molded Plastics Market share , injection molded plastics market demand , injection molded plastics market future , injection molded plastics market scope , injection molded plastics market overview
Last Updated July 3, 2020