Your Catalyst to a Lucrative Business
Injection Molded Plastic Market Share, Size,Growth, Key Players,
Outlook and Forecasts to 2024 | Hexa Research
“ Injection Molded Plastic Market Will Grow At Nearly 5% CAGR Till 2024.”
24 December 2018
The global injection molded plastic market was valued at around USD 199.9 billion in 2015. It is expected to
grow at a CAGR of approximately 5% during the forecast period (2016 - 2024). It will reach USD 296 billion by
2024. The growth of this market can be attributed to its growing demand in medical devices, home
appliances, automotive, packaging, and electrical & electronic end-uses.
The molding process involves injecting molten plastic into molded products and solidifying them. The growth
of this industry can be accredited to properties like heat resistance, pressure resistance, minimum wastage,
and low labor cost.
Prices of volatile crude oil, benzene, ethylene, propylene, and styrene can challenge market growth in the
coming eight years. To overcome such challenges, the industry is trying to manufacture molded plastic using
biodegradable products. The injection molded plastic market is segmented into applications, raw materials,
and geographies.
Applications include automotive, building & construction, consumables & electronics, packaging, medical,
and others. Packaging was the leading application with a net demand surpassing 30,000 kilo tons in 2014.
Follow Us: