Molded Plastics Market
Declining Crude Oil Prices Positively Influencing Molded Plastics Market
In the present scenario, declining crude oil prices have positively impacted the petrochemical industry. The drop in oil prices has improved the profit margins of several petrochemical companies considerably, says analyst at TMR. Hence, the growth of the petrochemical industry is expected to positively impact the molded plastics market.
The flourishing building and construction sector is also fuelling the growth of the molded plastics market, says TMR. With continued investments from government and private developers for infrastructural development and real estate projects, the construction industry has reached new heights.
On the flip side, environmental hazards associated with the use of molded plastics, economic instability and political unrest in several countries predominantly in the Middle East, and unpredictable demand in the Middle East and Europe are expected to challenge the growth of the molded plastics market during the forecast period.
Make an Enquiry @ http:// www. transparencymarketresearch. com / sample / sample. php? flag = S & rep _ id = 561
The Middle East and Africa to Display Fast Growth in Future
In terms of material type, polypropylene displays the highest demand accounting for its dominance in the molded plastics market. In 2016, the segment held 41 % share in the global market. However, polyethylene terephthalate( PET) is expected to display the highest CAGR of 8.6 % between 2016 and 2024. On the basis of technology, in 2015, injection molding led the molded plastics market and the technology segment is expected to increase two times by 2024. Blow molding, on the other hand, is evolving rapidly with an impressive growth rate.
In terms of application, packaging is expected to be leading consumer of molded plastics until the end of the forecast period in 2024. Packaging is expected to generate the highest revenue until 2024. The construction sector contributes a significant revenue to the overall molded plastics market. Geographywise, while currently, Asia Pacific contributes the highest revenue to the global market, the Middle East and Africa is expected to display growth at a fast pace.
Transparency Market Research
3