TMR_Research_Reports_2017 Molded Plastics Market Analysis 2024 | Page 3

Molded Plastics Market packaging sector is the primary reason behind high revenue contribution from this segment. The building and construction sector is estimated to post noteworthy CAGR during the same period. Geographically, Asia Pacific will continue to be at the forefront of the global market for molded plastics until 2024, thanks to the robust economic growth of countries such as China and India. The large base of population in the region, which accounts for more than half of the global population, is contributing to its leadership. The Middle East and Africa is poised to register strong growth, rising at a CAGR of 6.5% during the review period. Fill the form for an exclusive sample of this report @ http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=5 61 Declining Oil Prices Fosters Growth Prospects The increasing oil and gas production activity and concurrently declining oil prices are escalating the growth of the global petrochemical industry. Lower oil prices are helping petrochemical companies in improving their profit margins. Therefore, with the positive growth trajectory of the petrochemical industries, the global molded plastics market is expected to rake in a healthy share of the revenue pie. The robust growth of the building and construction sector is also providing a fillip to the growth of the global molded plastics market. “The evolution of the construction sector in the last few years and the continuous investments by government clients and private organizations in real estate projects and new infrastructure are contributing to the growth of the industry,” says a TMR analyst. Environmental Concerns Take their Toll on Global Molded Plastics Market Despite the overwhelming demand from end-use industries, the various environmental issues pertaining to the use of molded plastics are restricting the market from realizing its utmost potential. Moreover, political and economic instability in various countries, especially those belonging to the Middle East region, are leading to unpredic table demand patterns in these regions, which is hampering the growth prospects of the global molded plastics market. However, the flourishing growth of the packaging industry worldwide is likely to open new avenues for market players. Browse Press Release: http://www.transparencymarketresearch.com/pressrelease/molded- plastics-market-size.htm 3 Transparency Market Research