Molded Plastics Market Size Was Valued at USD 801 Billion in 2022, and is Projected to Reach USD 1100 Billion by 2030, Growing at a CAGR of 4.3% From 2023-2030. Analysis Of (2024-2032)
Molded plastics, which are produced by molding polymer resins into a variety of shapes, are crucial components in manufacturing. This adaptable material's resilience, lightweight nature, and affordability make it useful in a variety of industries, including electronics, construction, automotive, packaging, and healthcare. Several basic processes, including extrusion, blow molding, and injection molding, are used to create a wide range of plastic products, from simple home items to intricate car parts. The qualities and applications of molded plastics have been broadened by developments in polymer science, enabling improved strength, flexibility, and resistance to environmental conditions. In an effort to lessen the influence on the environment, efforts are being made to develop biodegradable plastics and increase recycling rates. Modern industry still heavily relies on molded plastics because of innovation and consumer demand.
Top Leading Key Players:
Berry Global Inc. (USA), Jabil Inc. (USA), Molded Devices, Inc. (USA), AptarGroup, Inc. (USA), Technimark(USA), Quick Plastics, Inc. (USA), Plastics One Group (USA), Husky Injection Molding Systems Ltd. (Canada), Berry Berry Superfos A/S (Denmark), Greiner Holding GmbH & Co. KG (Austria), Huhtamaki Oyj (Finland), DSM (Netherlands), AptarGroup Inc. (Luxembourg), Sofema S.p.A. (Italy), Biesse Group S.p.A. (Italy), Toyoda Gosei Co., Ltd. (Japan), Sumitomo Bakelite Co., Ltd. (Japan), Huaying (Zhangzhou) Plastic Products Co., Ltd. (China), Dongguan Yulong Precision Mould Co., Ltd. (China)
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In September 2023, BASF Launched its Ultramid® B3EG7 BK27F1 HF black polyamide (PA) compound with improved flame retardancy for electrical and electronic applications. This PA offers high heat resistance and meets stringent fire safety standards.
In September 2023, DuPont Unveiled its Zytel® FR90 polyamide (PA) resin for lightweight flame-retardant electrical and electronic components. This PA provides excellent fire resistance while maintaining high strength and mechanical properties.
Market Dynamic:
Drivers of Molded Plastics:
Multiple important factors are driving the market for molded plastics. Growing infrastructure spending worldwide is a significant contributing element, since pipes, fittings, panels, and insulation are needed for new buildings, roads, and bridges—all applications where molded plastics thrive. Furthermore, as living standards and urbanization rise, there is a greater need for electronics and consumer products, many of which use inexpensive, lightweight molded plastic components. Furthermore, new, high-performance plastics are being developed via material science advances that are perfect for demanding applications in sectors like aerospace and automotive.
Opportunities in Molded Plastics:
There are lots of interesting prospects in the molded plastics sector. The packaging industry, which is already a significant user, is expected to expand due to the growth of e-commerce and the need for strong, lightweight packaging solutions. Bioplastics, which are made from renewable resources, appeal to customers who are concerned about the environment since they provide a sustainable substitute for conventional plastics. Automation and artificial intelligence (AI) are two more Industry 4.0 technologies that help enhance production processes and save costs. These developments, along with continuous innovation in materials and applications, indicate that the industry for molded plastics has a promising future.
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Segment Analysis of The Molded Plastics Market:
By Type
- PE
- PP
- PVC
- PET
By Application
- Packaging
- Automotive & Transportation
- Construction & Infrastructure
By Region
- North America (U.S., Canada, Mexico)
- Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
- Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
- Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New-Zealand, Rest of APAC)
- Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
- South America (Brazil, Argentina, Rest of SA)
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