Molded Plastics Market Analysis - Global Industry Size, Share, Trends and Forecast 2022 - 2030

Introduction

Molded plastics are non-metallic compounds that are synthetically produced. They can be molded into different shapes for commercial use. These are highly efficient, malleable,versatile, and can be hardened to obtain the desired consistency. These are used for designing small components with tremendous amount of detailing and refinement. These are used in various applications such as building & construction, automotive & transportation, consumable & electronics, packaging, and others such as medical, stationary, and textiles, owing to their high ductility, tensile strength, impact resistance, moisture resistance, and greater design flexibility.

Market Dynamics

Molded plastics facilitate resource efficient mobility and improved functionality by substituting heavier, outmoded materials by lightweight plastic materials. The increase in use of molded plastics components in automobiles has enabled the manufacturers to address increase in environmental concerns by reducing CO2 emissions that threaten the environment. Moreover, the use of molded plastics in automobile provides high design flexibility, cuts the overall weight, reduces CO2 emission, increases passenger safety, and provides resource efficient solution, which is expected to further propel the molded plastics market growth in automotive industry.Rise in construction activities, such as housings, commercial, and infrastructural projects in emerging economies, is also projected to drive the growth of global molded plastics market in the near future. However, continual volatility in prices of raw material such as ethylene and propylene is anticipated to restrain the growth of global molded plastics market over the forecast period. In addition, stringent environmental regulations are expected to increase in the coming years, affecting the growth of molded plastics market during the forecast period.

Market Classification and Overview

The global molded plastics market is segmented based on product, technology and application. Based on product, the market is classified as polyvinyl chloride, polypropylene, polyethylene, polystyrene, and engineering plastics. Based on technology, the global molded plastics market is segmented as blow molding, injection molding, extrusion and others. On the basis of application, the global molded plastics market is segmented into automotive, building and construction, electronics, packaging and others.

Regional Overview

The market for molded plasticsmarket is segmented into regions such as North America, Europe, Asia-Pacific, Latin America, and Middle-East and Africa (MEA). Asia-Pacificholds the largest share in the global molded plasticsmarket owing to high population, urbanization and industrial growth in the region. The Asia-Pacific market is projected to grow with a highest CAGR owing to significant opportunities from agro-based countries such as India, Brazil and China. In addition to this, the consumer electronics industry is expected to grow, particularly in the Asia-Pacific region, which in turn is expected to drive the demand for molded plastics, as majority of these products are made of molded plastics.

Report Coverage

Market Participants

Exxon Mobil Corporation, INEOS Group AG, BASF SE, Eastman Chemical Company, Chevron Philips Chemical Company, E. I. du Pont de Nemours and Company, Huntsman Corporation, Reliance Industries Limited, LyondellBasell Industries N.V., and SABIC.are the key players in the molded plastics market. These players involved have adopted the strategies including product development, and mergers and acquisitionswith local as well as established players to sustain in the industry.

Market Segmentation

Market by Product

• Polyvinyl Chloride
• Polypropylene
• Polyethylene
• Polystyrene
• Engineering Plastics

Market by Technology  

• Blow Molding
• Injection Molding
• Extrusion
• Others

Market by Application  

• Automotive
• Building and Construction
• Electronics
• Packaging
• Others

Market by Geography

• North America
  • US
  • Canada
  • Mexico
• Europe
  • UK
  • Germany
  • France
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • Australia
  • Rest of Asia-Pacific
• Latin America
  • Brazil
  • Rest of Latin America
• Middle East and Africa (MEA)
  • South Africa
  • Saudi Arabia
  • Rest of MEA