Credence Research states the interest of a new study on Injection Molded Plastic Market. The Injection Molded Plastic Market is expected to Exhibit Rapid Growth during the Forecast Period. The research report, named “Injection Molded Plastic Market – Growth, Future Prospects, and Competitive Analysis, 2018- 2026,” estimates the historical performance and the current standing of this market, emphasizing especially on the dynamics of the need and supply of Injection Molded Plastic.
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Market Overview:
The worldwide injection molded plastic market volume was evaluated at 199870 million US dollars during the year 2014. The market is predicted to experience substantial growth & expansion in coming years owing to growing demand for plastic parts across different end-use sectors like automobile industry, home equipment, packaging sector, medical instruments, and electronics & electrical sector.
Injection molding method involves the production of molded items by injecting molten plastic substances by using heat into a mold and solidifying these substances. Current technological breakthroughs to reduce the rate of defective production have increased the importance of injection molded technique in the mass manufacturing of complex plastic structures.
Growing expenditure on construction specifically in the growing markets of Russia, Brazil, Mexico, China, South Africa, and India is predicted to stimulate the demand and growth of the global injection molded plastic market. It is further assisted by versatile features of finished items that include good pressure and heat resistance making these items more applicable to different market sectors.
Low crude oil costs combined with the financial condition of China have made a substantial effect on the petrochemicals business. China plays a key role in the bulk manufacture and dealing of petrochemical derivatives. Different firms have accepted business strategies to maintain yearly growth and reduce the effect of lowered oil costs on margins of profit.
Volatile costs of key raw materials that include propylene, benzene, styrene, and ethylene combined with growing ecological concerns related with their disposal is predicted to impede the growth of the worldwide injection molded plastic market during the estimated period. To surmount these threats, the market has shifted its focus towards production of injection molded plastic by using bio dependent equivalents. Key plastic producers have been partnering with biotechnology firms and forming joint ventures with them to synergize their operations in order to produce bio dependent plastics and finished goods.
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Injection Molded Plastic Market By Raw Materials:
The worldwide injection molded plastic market by raw materials includes High-density polyethylene, Polypropylene, Polystyrene, and Acrylonitrile butadiene styrene.
Polypropylene evolved as the biggest raw material section and contributed about more than 36% to the total demand of the global injection molded plastic market by raw materials during year 2014. Heavy demand for injection molded polypropylene in household products, automobile parts and packaged applications is a key aspect stimulating its use. Growing penetration of polypropylene finished goods in food packaging sector & protective caps in battery housings as well as in electrical contacts are few of the factors predicted to further stimulate the demand and growth of the global injection molded plastic market during the estimated period.
Polypropylene parts are being extensively in electrical contacts and food packaging industry owing to its properties like rust resistance and electric insulation. All these factors are predicted to contribute towards rapid growth of the polypropylene section during the estimated period.
Acrylonitrile butadiene styrene evolved as the second key raw substance for injection molded plastic and contributed about more than 26% to the revenue to the total revenue share of the global injection molded plastic market. Heavy demand for Acrylonitrile butadiene styrene parts in medical equipments, electronic housings, automobile parts and customer devices production is predicted to stimulate the demand and growth of the global injection molded plastic market during the estimated period.
Injection Molded Plastic Market By Application:
The global injection molded plastic market by application includes automobiles, packaging, medical, consumables & electronics and building & construction.
Packaging was the main injection molded plastic application section with the overall demand of more than 30,000 kilo tons during year 2014. The finished goods utilized in packaging experience different evolving stages in order to cope up with regulations and end user needs. Rising shelf life span of foods, effective performance against wear & tear and longetivity are some of the needs that plastics are required to fulfill for packaging uses & applications.
Injection molded plastic holds tremendous potential specifically in the medical sector as well as in automobile sector. The global injection molded plastic market is predicted to experience the biggest growth & expansion in the medical equipments & parts sector. Cost efficacy, optical clarity and biocompatibility in the manufacturing process of the injection molded plastic is predicted to stimulate
Devraj
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