Pune, India, Sept. 13, 2022 (GLOBE NEWSWIRE) — The global Injection molded plastics market size was $343.23 billion in 2020. The market is expected to keep growing $357.34 billion in 2021 to $476.46 billion in 2028 at a CAGR of 4.2% in the period 2021-2028. This information is published by Fortune Business Insights™in his report entitled “Injection Molded Plastics Market, 2021-2028.”
According to our researchers, some of the main applications of the product are in automotive, packaging, building & construction, medical, electrical & electronics and other industries. They are mainly used in the packaging industry for the manufacture of containers, food packaging, bottles for cosmetic and pharmaceutical products and various types of closures.
List of key players covered in the report
- BASF SE (Germany)
- Dow Inc. (USA)
- Dupont (USA)
- HTI Plastics (USA)
- LyondellBasell (Netherlands)
- Coastal Plastic Molding, Inc. (USA)
- Huntsman Corporation. (US)
- Magna International Inc. (Canada)
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Effects of COVID-19
Falling automobile sales are hampering market growth
The injection molded plastics market is forecast to grow at a bewildering pace due to growing demand for packaging and medical applications, while demand for the product has declined significantly in applications such as automotive, building and construction, and electrical and electronics, among others. The automotive industry is expected to suffer immensely due to the current fluctuating government guidelines coupled with the exponential decline in demand for automobiles during the COVID-19 pandemic.
Report scope and segmentation
| report attribute | details |
| Market size value in 2020 | $343.23 billion |
| Sales forecast 2028 | $476.46 billion |
| growth rate | CAGR of almost 4.2% 2021-2028 |
| base year | 2020 |
| historical years | 2017 – 2019 |
| Expected years | 2021- 2028 |
| Covered Segments | Through… |
