Lucintel's latest market report analyzed that injection molded plastic provides attractive opportunities in the packaging, consumables & electronics, automotive & transportation, building & construction, and medical sectors. The injection molded plastic market is expected to reach $XX billion by 2028 with a CAGR of 4% to 6%. In this market, polypropylene is the largest segment by raw material, whereas packaging is largest by application. Increasing construction spending, development of the retail sector in regions, and shift in consumer preference towards high performance materials coupled with the adoption of new manufacturing technologies provides strategic growth path in this market.
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Based on raw material, the injection molded plastic market is segmented into polypropylene, acrylonitrile butadiene styrene, high-density polyethylene (HDPE), and polystyrene. The polypropylene segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during the forecast period, due to increasing consumption of polypropylene in automotive components, household goods, & packaging applications and increasing use in food packaging and electrical contacts on account of corrosion resistance & electrical insulation properties.
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The Injection Molded Plastic Market is marked by the presence of several big and small players. Some of the prominent players offering injection molded plastic include SABIC, Ineos, BASF, Dupont, Magna, ExxonMobil, Eastman Chemicals, Becton Dickinson, LyondellBasell, and The Dow Chemical.
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