Global is projected to reach $496.2 billion by 2025.The growing demand from key applications including construction, automotive, and packaging, particularly in the BRICS nations such as Brazil, Russia, India, China, and South Africa, is expected to drive the growth of the injection molded plastics market during the forecast period. There has been a surge in capacity addition in growing economies such as the Middle East and Asia-Pacific in past couple of years. This, along with generating a consistent demand for injection molded plastics, also helps reduce the overall manufacturing cost.
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On the basis of raw material, the injection molded plastics market has been segmented into polypropylene, acrylonitrile butadiene styrene (ABS), high-density polyethylene (HDPE), polystyrene and others. Polypropylene is estimated to hold largest share in the injection molded plastics market in 2017, accounting for more than 25%. High polypropylene demand in automotive components, household goods, and packaging applications is a major factor driving its consumption.
The Asia-Pacific region is estimated to hold the largest share in the injection molded plastics market, accounting for more than 30% in 2017. The region is expected to hold the largest share throughout the forecast period owing, to the growing usage injection molded polypropylene, ABS and HDPE in packaging, manufacturing and industrial sectors in countries such as India, China, Indonesia, Japan, and others.
In Asia-Pacific, with rapid developments in automobile technologies, conventional plastics are being increasingly replaced by high-performance materials including thermoplastic elastomers having properties of both plastic and rubber and lesser weight as compared to steel and other materials such as metals and compound mixes.
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On the basis of raw material, the injection molded plastics market has been segmented into polypropylene, acrylonitrile butadiene styrene (ABS), high-density polyethylene (HDPE), polystyrene and others. Polypropylene is estimated to hold largest share in the injection molded plastics market in 2017, accounting for more than 25%. High polypropylene demand in automotive components, household goods, and packaging applications is a major factor driving its consumption.
The Asia-Pacific region is estimated to hold the largest share in the injection molded plastics market, accounting for more than 30% in 2017. The region is expected to hold the largest share throughout the forecast period owing, to the growing usage injection molded polypropylene, ABS and HDPE in packaging, manufacturing and industrial sectors in countries such as India, China, Indonesia, Japan, and others.
In Asia-Pacific, with rapid developments in automobile technologies, conventional plastics are being increasingly replaced by high-performance materials including thermoplastic elastomers having properties of both plastic and rubber and lesser weight as compared to steel and other materials such as metals and compound mixes.
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Increasing packaging demand from food and beverages industry is expected to remain a major driving factor for the North America’s injection molded plastics market during the forecast period. Increasing demand for processed foods and soft drinks and alcohols are expected to be responsible for food and beverages industry growth over the past few years.
Some of the major players operating in the global injection molded plastics industry are Exxon Mobil Corporation, BASF SE, E.I. du Pont de Nemours & Co., The Dow Chemical Company, Huntsman Corporation, Eastman Chemical Company, INEOS Group Holdings S.A., LyondellBasell Industries Holdings B.V., SABIC, and Magna International Inc.
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