Injection Molded Plastics Market Key Players and Industry Forecasts 2032

According to Fortune Business Insights, The global injection molded plastics market was valued at USD 387.51 billion in 2023 and is expected to increase from USD 403.85 billion in 2024 to USD 561.58 billion by 2032, registering a CAGR of 4.2% during 2024–2032. Asia Pacific held the leading position in 2023, accounting for 49.25% of the market share. In the United States, the market is forecast to witness substantial growth, reaching USD 65.32 billion by 2032, fueled by strong demand across the electrical & electronics and medical sectors.

Injection molding is a widely used manufacturing process for producing plastic components. It finds applications across several industries, including automotive, packaging, building & construction, electrical & electronics, medical, and more. Among these, the packaging industry represents the largest application area, where injection molding is utilized to manufacture containers, food packaging, cosmetic and pharmaceutical bottles, as well as various types of closures.

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List of Key Players Covered in the Report

• BASF SE (Germany)

• Dow Inc. (U.S.)

• DuPont (U.S.)

• HTI Plastics (U.S.)

• LyondellBasell (Netherlands)

• Coastal Plastic Molding, Inc. (U.S.)

• Huntsman Corporation. (U.S.)

• Magna International Inc.(Canada)

Report Coverage

We provide our reports which are conducted with an all-inclusive examination approach that majorly emphasizes on delivering precise material. Our scholars have applied a data triangulation method which further assists us to offer trustworthy estimations and test the general market dynamics accurately. Further, our analysts have received admission to numerous international as well as regional funded registers for providing the up-to-date material so that the stakeholders and business professionals invest only in essential zones.

Segmentation

On the basis of resin, the global market for injection molded plastics is bifurcated into Polypropylene (PP), Acrylonitrile butadiene styrene (ABS), High-density polyethylene (HDPE), Polystyrene (PS), and Others.

Based on application, the market is further divided into Automotive, Packaging, Building & Construction, Electrical & Electronics, Medical, and Others. The packaging segment held the largest share in this market. This segment is driven by food & beverages, pharmaceutical, and retail applications.

In terms of geography, the market for injection molded plastics is segregated into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

Drivers and Restraints

Innovation in Injection Molding Technologies is a Prominent Trend

There has been incessant improvement in technologies regarding injection molding such as the increasing predisposition towards incorporated method to product design which has accentuated the production operation. This has further tapered down the space between the structuring and production stage, principally in case of complicated products, such as medical apparatuses. This is famously known as micro injection molding in production of medical apparatuses where the procedure is engaged at a microscopic level. This is expected to boost the injection molded plastics market growth during the forecast period.

Regional Insights

Escalating Product Demand to Boost Growth in Asia Pacific

Asia Pacific is estimated to hold majority of the injection molded plastics market share and endure as a dominant region in the market during the mentioned period owing to the increasing demand for the product from the packaging and automobile industries. The market size of Asia Pacific was USD 162.98 billion in 2020.

The demand for injection molded plastics in North America is projected to upsurge owing to an abrupt demand from the packaging and electronics industries based in this region.

Europe is expected to hold a substantial share in the market. Growing demand for appropriate packaging for food and beverages have prolonged the visualization of packaging goods producers.

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Competitive Landscape

Key Players to Fortify their Positions by Offering New Product Solutions

Principal producers are situated in Asia Pacific, which is leading to a bifurcated injection molding market. The manufacturers positioned in North America and Europe are concentrating towards reinforcing their market positions in several nations in Asia Pacific set to fuel the growth of their respective establishments. Fundamental players in the market such as BASF SE, HTI Plastics, DuPont, and others have advanced robust regional attendance, distribution channels, and product offerings.

Key Industry Development

• February 2024: Kreate announced its takeover of a supplier of injection molded plastics based in Georgetown, TX.  The move is anticipated to significantly enhance the production capacity of the company and enhance its logistics network.

• August 2020: Avient Corporation (Formerly PolyOne) introduced injection moldable thermoplastic elastomers to its Versaflex series. The product was formulated without animal derivatives and is able to serve a variety of medical device applications.