The Molded Plastics Industry sales study offers a comprehensive analysis on diverse features including production capacities, Molded Plastics demand, product developments, sales revenue generation and Molded Plastics market outlook across the globe.
market research report by Fact.MR, (Leading business and competitive intelligence provider) on global Molded Plastics market sales initiates with an outlook of the market, followed by the scrutiny of the demand and consumption volumes and share and size of various end-use segments
The global molded plastics market has reached US$ 165.8 billion in 2022, and is forecast to exceed a valuation of US$ 260.5 billion by 2032, expanding at a CAGR of 4.7% over the said time period.
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Key Trends:
- Sustainability and Recycling: There was a growing emphasis on sustainability and environmental concerns within the plastics industry. Many companies were focusing on developing and using recycled plastics, as well as exploring biodegradable and bio-based plastics to reduce the environmental impact of plastic products.
- Advanced Manufacturing Technologies: The adoption of advanced manufacturing technologies such as injection molding, blow molding, and rotational molding was on the rise. These technologies allowed for more precise and efficient production of molded plastic products.
- Lightweighting: Industries such as automotive and aerospace were increasingly turning to molded plastics to replace heavier materials like metal, in pursuit of fuel efficiency and reduced emissions. This trend was driven by the need to make products lighter while maintaining strength and durability.
- Customization and Complex Designs: Molded plastics offered the advantage of being easily customizable and capable of producing complex shapes and designs. This was particularly important in industries like medical devices, consumer electronics, and packaging.
- Packaging Innovations: The packaging industry was a significant consumer of molded plastics. Trends included the use of thinner and more lightweight plastics for packaging to reduce material use, as well as innovations in barrier properties to extend the shelf life of products.
- Regulatory Changes: Regulatory changes and increased public awareness of plastic waste were impacting the industry. Many regions were implementing stricter regulations on the use and disposal of plastics, pushing manufacturers to adopt more sustainable practices.
- Supply Chain Challenges: Supply chain disruptions and material shortages, exacerbated by the COVID-19 pandemic, affected the availability and pricing of raw materials used in molded plastics production.
- Consumer Preferences: Consumer preferences for sustainable and eco-friendly products were influencing the decisions of manufacturers. Brands were increasingly focusing on using recycled or bio-based plastics in their products to meet these preferences.
- Medical and Healthcare Growth: The medical and healthcare industry continued to be a significant market for molded plastics, particularly in the production of medical devices, equipment, and packaging for pharmaceuticals.
- Global Market Expansion: Emerging markets, particularly in Asia-Pacific, were witnessing rapid growth in demand for molded plastics due to industrialization, urbanization, and a growing middle class.
- Digital Transformation: The adoption of digital technologies, including IoT (Internet of Things) sensors and data analytics, was being used to improve the efficiency and quality control of molded plastics manufacturing processes.
- Mergers and Acquisitions: The industry saw continued mergers and acquisitions as companies sought to expand their product portfolios and global reach.
Key Companies Profiled
- BASF SE
- I. DU PONT DE NEMOURS AND COMPANY
- ExxonMobil Corp.
- DuPont de Nemours, Inc.
- Dow, Inc.
- Huntsman International LLC
- Eastman Chemical Company
- INEOS Group
- LyondellBasell Industries Holdings B.V.
- SABIC
- Magna International, Inc.
- IAC Group
- Berry Global, Inc.
- Master Molded Products Corp.
- HTI Plastics, Inc.
- Rutland Plastics
- AptarGroup, Inc.
- Lacks Enterprises, Inc.
- The Rodon Group
- Heppner Molds
- Chevron Philips Chemical Company
- RELIANCE INDUSTRIES LIMITED
Competitive Landscape
The global molded plastics market is largely fragmented, and North American companies are dominating the overall market due to their worldwide presence. Industry players are focusing on improving their R&D capabilities and developing new products.
- In 2021, BASFset out to increase its polyamides product portfolio for the high-temperature variety by launching a new brand – heat-stabilized Ultramid.
- In August 2021, LANXESScompleted the acquisition of a USA-based leading manufacturer of specialty chemicals – Emerald Kalama Chemical.
Fact.MR has provided detailed information about price points of top manufacturers of molded plastics market positioned across regions, sales growth, production capacity, and speculative technological expansion in the recently published report.
Key Segments of Molded Plastics Industry Research
- Molded Plastics Market by Material :
- Polypropylene
- Polyethylene
- Polyvinyl Chloride
- Polystyrene
- Polyethylene Terephthalate
- Other Materials
- Molded Plastics Market by End Use :
- Packaging
- Consumables & Electronics
- Automotive & Transportation
- Building & Construction
- Other Applications
- Molded Plastics Market by Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
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