PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1350301
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1350301
The global injection molded plastics market is projected to reach around US$ 459.0 Million by the end of 2030, in terms of revenue, growing at CAGR of 5.5% during the forecast period (2023-2030).
Report Coverage | Report Details | ||
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Base Year: | 2022 | Market Size in 2023: | US$ 298.5 Mn |
Historical Data for: | 2018 to 2021 | Forecast Period: | 2023 - 2030 |
Forecast Period 2023 to 2030 CAGR: | 5.50% | 2030 Value Projection: | US$ 459.0 Mn |
Injection molding process is the manufacturing process for producing parts by inserting materials into a mold to create varied shapes and sizes of the object. Injection molding can be achieved with a host of materials consisting of metals, elastomers, glasses, confections, and polymers. Injection molding plastics are extensively in variety of components such as automotive parts, bottle caps, packaging, storage containers, mechanical parts, and wire spools.
The global injection molded plastics market has witnessed significant growth in recent past years, owing to the rising demand for packaging solutions in various end user industries, such as pharmaceutical, cosmetics, food & beverages and others. Furthermore, growing investments for research & development in production injection molded plastics is expected to provide lucrative growth to the global Injection molded plastics market over the forecast period. Injection molding is the manufacturing process for the fabrication of plastics. Some of the major applications are automotive, packaging, building & construction, electrical & electronics, medical, and others. They are majorly used in the packaging industry for making containers, food packaging, bottles for cosmetics and pharmaceutical products, and different types of closures.
Major players in the global injection molded plastics market are increasing their investment on innovative product launchings, research & development and marketing & promotional activities in automobile and electrical industry to capitalize on emerging trends in various end-use industries, such as cosmetics & personal care, textile, food & beverage, healthcare and others. This scenario is expected to fuel the market during the forecast period.