Injection molding process is the manufacturing process for producing parts by inserting materials into a mold to create varied shapes and sizes of the object. Injection molding can be achieved with a host of materials consisting of metals, elastomers, glasses, confections, and polymers. Injection molding plastics are extensively in variety of components such as automotive parts, bottle caps, packaging, storage containers, mechanical parts, and wire spools.
The global injection molded plastics market has witnessed significant growth in recent past years, owing to the rising demand for packaging solutiona in various end-user industries such as pharmaceutical, cosmetics, food & beverages and others. Furthermore, growing investments for research & development in production injection molded plastics is expected to provide lucrative growth to the global glass packaging market over the forecast period
Global Injection molded plastics Market, By Raw Material:
◦ Acrylonitrile butadiene styrene (ABS)
◦ High Density Poly Ethylene (HDPE)
Global Injection molded plastics Market, By Application:
◦ Consumables and Electronics
◦ Automotive and Transportation
◦ Building and Construction
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Expanding rigid packaging market around the globe is projected to offer lucrative market opportunities in the near future. Injection-molded plastics are widely used in the rigid packaging for various industries such as chemical, medical, pharmaceutical, and oil &gas. According to the Coherent Market Insights analysis, plastic rigid packaging accounts for approximately 25% of the overall packaging market. Hence, growth in rigid packaging is projected to augment market growth.
Increasing launch of advanced technology for injection molding plastic is expected to bring new market opportunities. For instance, in April 2018, Yizumi-HPM Corp., a manufacturer of high-quality hybrid injection molding machinery from 60 to 3500-tons clamping force, announced the launch of three new series of injection molding machines at NPE 2018 May 7-11 at the Orange County Convention Center in Orlando, Fla.
Key players are operating in the global Injection molded plastics market are BASF, DOW Chemicals, Huntsman Corporation, Ineos oxide, Saudi basic industries corporation, Exxon Mobil Corporation, Du Pont de Nemours & Company, and Lyondellbasell industries.
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