The global injection molded plastics market was valued at $283.5 billion in 2016 and is projected to reach $496.2 billion by 2025, progressing at a CAGR of 6.0% during the forecast period (2017–2025). The polypropylene category dominated the market during the historical period, based on raw material.
This category is also expected to witness the fastest growth during the forecast period, owing to its high demand in household goods, automotive components, and packaging applications.
Growing Demand from Packaging Industry
Rising demand for molded plastics in various packaging applications is expected to drive the growth of the injection molded plastics market. This can be attributed to the increasing demand for fast-moving consumer goods (FMCG) and pharmaceuticals, due to which injection molded plastics are being widely used in packaging frozen food, vegetables, bakery products, and medicine.
Segmentation Analysis of Injection Molded Plastics Market
The polypropylene category held the largest market share in 2016. This is attributed to its increasing demand in the packaging, automotive, and household goods sectors.
The medical category is expected to exhibit the fastest growth during the forecast period, owing to the strict regulations and increasing demand for biodegradable polymers, such as medical-grade parts, tools, and equipment from the medical sector.
Geographical Analysis of Injection Molded Plastics Market
Together, APAC and Europe are expected to account for over 55% share in the injection molded plastics market in 2025. This can be mainly attributed to the presence of established players and increase in consumption of processed packaged foods.
Other geographies, which include North America, CSA, and MEA, also hold considerable shares in the injection molded plastics market, on account of growing construction activities and increasing their demand from the automobile and medical industries.
The U.S. is expected to lead the North American injection molded plastics market, with revenue of $85.9 billion in 2025. This can be mainly attributed to the increasing demand for injection molded plastics in medical and household products.
Saudi Arabia is the fastest-growing market for injection molded plastics in the MEA region. Growth in the packaging and automobile industries is the major factor contributing to the growth of the market.
Competitive Landscape of Injection Molded Plastics Market
In September 2017, DowDuPont Inc. opened its new ethylene and plastics plant in Freeport. This plant includes a massive cracker to separate a component of natural ethane, which, in turn, will provide the feedstock for ethylene, a building block of most plastics. The plant will produce 1.5 million metric tons a year of ethylene.
Some of the key players operating in the global injection molded plastics market are ExxonMobil Corporation, INEOS Group Holding S.A, Saudi Basic Industries Corporation (SABIC), Eastman Chemical Company, BASF SE, Huntsman Corporation, E.I. du Pont de Nemours and Company, and LyondellBasell Industries N.V.