Injection Molded Plastics Market Size, Key Players, and Forecasts Till 2030

Injection Molded Plastics Industry Overview

The global injection molded plastics market size is anticipated to reach USD 423.7 billion by 2030, registering a CAGR of 4.2% in the forecast period, according to a new study by Grand View Research, Inc. Growing demand from key applications including automotive, packaging, and construction, particularly in Brazil, Russia, India, China, and South Africa (BRICS) nations, is likely to drive the growth. The high-growth regions, such as Middle East and Asia Pacific, have witnessed a surge in capacity addition over the last few years. An increasing number of plastic injection molding companies in China on account of low manufacturing costs and ample availability of skilled labor is anticipated to benefit the regional market.

Injection Molded Plastics Market Segmentation

Grand View Research has segmented the global injection molded plastics market on the basis of raw material, application, and region:

Based on the Raw Material Insights, the market is segmented into Polypropylene (PP), Acrylonitrile Butadiene Styrene (ABS), High-Density Polyethylene (HDPE), Polystyrene (PS), and Others.

• Polypropylene (PP)segment held the largest revenue share of more than 34% in 2021 owing to the increasing consumption of PP in automotive components, household goods, and packaging applications. Growing PP-based product penetration in protective caps in electrical contacts & battery housings and food packaging is anticipated to further drive its demand over the forecast period.
• Acrylonitrile Butadiene Styrene(ABS) emerged as the second major raw material in 2021. Rising ABS component demand in medical devices, automotive components, electronic housings, and consumer appliances manufacturing is expected to drive its growth over the forecast period.

Based on the Application Insights, the market is segmented into Packaging, Consumables & Electronics, Automotive & Transportation, Building & Construction, Medical and Others.

• The packaging segment accounted for more than 30% of the overall revenue share in 2021. The finished products used in packaging undergo various development phases to cope with regulatory guidelines and end-user requirements.
• Injection-molded plastics hold immense potential, particularly in the medical and automotive industries. The industry is expected to witness the highest growth in the medical devices and components sector. 
• A stringent regulatory scenario regarding medical-grade polymer usage in healthcare sectors is anticipated to boost the growth. A rising preference for biodegradable polymers among medical device manufacturers is also anticipated to create profitable opportunities in the medical industry over the forecast period. A strong shift in the trend towards replacing steel with plastics in the automotive industry is expected to drive the product demand over the forecast period. 

Injection Molded Plastics Regional Outlook

• North America
• Europe
• Asia Pacific
• Central & South America
• Middle East & Africa

Key Companies Profile & Market Share Insights

The global market is highly fragmented with the presence of a largely unorganized sector, particularly in the Asia Pacific and Latin America. Companies, particularly hailing from the Asia Pacific, have been constantly looking for significant capacity additions over the past few years to take advantage of operational excellence and achieve economies of scale.

Some of the prominent players in the global injection molded plastics market include:

• ExxonMobil Corp.
• BASF SE
• DuPont de Nemours, Inc.
• Dow, Inc.
• Huntsman International LLC
• Eastman Chemical Company
• INEOS Group
• LyondellBasell Industries Holdings B.V.
• SABIC
• Magna International, Inc.
• IAC Group
• Berry Global, Inc.
• Master Molded Products Corp.
• HTI Plastics, Inc.
• Rutland Plastics
• AptarGroup, Inc.
• Lacks Enterprises, Inc.
• The Rodon Group
• Heppner Molds

Order a free sample PDF of the Injection Molded Plastics Market Intelligence Study, published by Grand View Research.