Injection Molded Plastic Market Overview:
Global Injection Molded Plastic Market size and share is currently valued at USD 309.36 billion in 2024 and is anticipated to generate an estimated revenue of USD 411.86 billion by 2032, according to the latest study by Polaris Market Research. Besides, the report notes that the market exhibits a robust 3.6% Compound Annual Growth Rate (CAGR) over the forecasted timeframe, 2024 – 2032
Key Market Drivers:
- Rising Demand in Packaging Applications: Injection molded plastics are extensively used in packaging due to their durability, lightweight nature, and cost-effectiveness. They are ideal for manufacturing containers, bottles, and closures, which are essential in the food and beverage industry. The increasing demand for packaged goods, especially in emerging economies, significantly boosts the market.
- Growth in the Automotive Industry: The automotive sector increasingly utilizes injection molded plastics to produce lightweight components, enhancing fuel efficiency and reducing emissions. Plastics are used in manufacturing interior and exterior parts, including dashboards, bumpers, and door panels. The expansion of the automotive industry, particularly in Asia-Pacific, propels the demand for injection molded plastics.
- Advancements in Injection Molding Technologies: Continuous innovations, such as micro-injection molding and automation, have improved the precision and efficiency of plastic manufacturing. These advancements enable the production of complex and high-quality plastic parts, expanding their applications across various industries.
- Expansion of the Electronics and Consumer Goods Sectors: The electronics industry relies on injection molded plastics for components like housings and connectors, owing to their versatility and cost-effectiveness. Similarly, the consumer goods sector benefits from the durability and design flexibility offered by these materials.
Download Free Sample PDF Copy of the Report:
Key Companies in Injection Molded Plastic Market:
- ExxonMobil Corporation
- 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 Corporation
- HTI Plastics Inc.
- Rutland Plastics
Injection Molded Plastic Market Segmentation:
Polaris Market Research has segmented the Injection Molded Plastic market report based on raw material, application and region:
Injection Molded Plastic, Raw Material Outlook (Revenue – USD Billion, 2019 – 2032)
- Acrylonitrile Butadiene Styrene (ABS)
- Polypropylene (PP)
- High-Density Polyethylene (HDPE)
- Polystyrene (PS)
- Low-Density Polyethylene (LDPE)
- Polyethylene (PE)
- Others
Injection Molded Plastic, Application Outlook (Revenue – USD Billion, 2019 – 2032)
- Packaging
- Automotive & Transportation
- Building & Construction
- Consumables & Electronics
- Medical
- Others
Injection Molded Plastic Industry Developments:
- March 2023:
ABC Technologies Holding Inc. acquired WMG Technologies for USD 165 million. ABC Technologies provides products across three primary categories: fluids, HVAC, and interior and exterior systems. WMG Technologies specializes in advanced tooling for injection-molded exterior and interior vehicle parts, including lighting molds and optic inserts. This acquisition enhances ABC Technologies’ capabilities in delivering innovative tooling solutions to tier-1 and tier-2 global automotive OEMs. - April 2023:
Nexa3D finalized its acquisition of Addifab, the parent company of Freeform Injection Molding. This strategic collaboration aims to combine Addifab’s expertise in high-temperature soluble and high-impact resins with Nexa3D’s rapid 3D printing technologies. The partnership enables the development of advanced molds and tooling, broadening material compatibility and improving efficiency and versatility in manufacturing processes. - September 2021:
ExOne launched X1 Tooling, a comprehensive range of 3D-printed solutions designed for the rapid and cost-effective production of final tooling for metal, plastic, and composite parts. This innovative offering streamlines the tooling process, providing manufacturers with versatile and efficient options.
Automotive Injection Molded Plastic has become a crucial production process in the automotive industry, prioritizing quality, consistency, and safety. Materials such as polypropylene and polystyrene, known for their rigidity, flexibility, corrosion resistance, and weather resistance, are extensively utilized in manufacturing various vehicle components.