Injection Molding Plastic Market Scope
Injection molding is a conventional manufacturing process used to mold large quantities of plastic parts. Various products manufactured through Injection Moulding includes Household Injection Moulding and Thermoware/Moulded luggage. Due to the numerous benefits of plastic such as lightweight, corrosion-resistant, manufacturers are now replacing metal parts with plastic. Plastic has become a utility in automotive, household appliances, medical devices, and various other sectors.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Primex Plastics Pvt.Ltd. (India), Chess Plastics (United Kingdom), Knudsen Plast A / S (Denmark), Lorenz-Kunststofftechnik GmbH (Germany), Inipress Spa (Italy), LyondellBasell (Netherlands), Omnia Plastica S.p.A. (Italy), Plastro Mayer GmbH (Germany), RGE Group (United Kingdom), Werner Bauser GmbH (Germany) and Pexco LLC(United States) |
CAGR | % |
A company of Diversified Plastics Inc. called Pacific Plastics Injection Moulding recently added 5,000 square feet of administrative and manufacturing space to its California location. The purpose of this innovation was to boost output and guarantee a secure working environment.
Primex Plastics Pvt.Ltd. (India), Chess Plastics (United Kingdom), Knudsen Plast A / S (Denmark), Lorenz-Kunststofftechnik GmbH (Germany), Inipress Spa (Italy), LyondellBasell (Netherlands), Omnia Plastica S.p.A. (Italy), Plastro Mayer GmbH (Germany), RGE Group (United Kingdom), Werner Bauser GmbH (Germany) and Pexco LLC(United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Coral Products PLC (United Kingdom), National Plastic Industries Ltd. (India), Southern Indiana Plastics (United States) and MVP Plastics (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Injection Molding Plastic market by Type , by Application (Automobile, Packaging Industrial, Construction Industrial, Medical, Electronic, Consumer Goods and Other) and Region with country level break-up.
On the basis of geography, the market of Injection Molding Plastic has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2022.
Market Leaders and their expansionary development strategies
Pexco LLC, a North American plastic extruder, acquired American Injection Moulding Linc. & American Extruded Plastics Inc. in August 2019. In order to provide its clients complete moulded plastics solutions, Pexco LLC made this acquisition.
Influencing Trend:
The trend towards miniaturization in industries like electronics, medical devices, and automotive has led to the demand for smaller and more precise plastic parts. Micro-molding, a specialized form of injection molding, enables the production of tiny, intricate components with micron-level precision. This trend is driven by the need for compact devices and the advancement of technologies like IoT and wearable devices.
Market Growth Drivers:
Increased Plastic Penetration in End Use Industries
Challenges:
High Working Capital Required
Restraints:
High Price Volatility
Opportunities:
Increasing Efforts to Address Plastic Pollution is Creating Opportunities for Plastic Recycling Industries and Increasing preference for Plastic over Metal in the Automobile Industry
Key Target Audience
Injection Molding Plastic Manufacturer, Injection Molding Plastic Importer/Exporter, Injection Molding Plastic End-User, Injection Molding Plastic Raw Material Supplier and Others