Rising Demand Of Consumer Electronics Such As Laptops, Tablets And Others To Boost The Injection Molding Materials Market Growth

Injection Molding Materials Market

The Injection Molding Materials Market is Segmented by Raw Material (Polypropylene, Acrylonitrile Butadiene Styrene (ABS), Polystyrene, Polyethylene, Polyvinyl Chloride (PVC), Polycarbonate, Polyamide, and Other Raw Materials), Application (Packaging, Building and Construction, Consumer Goods, Electronics, Automotive and Transportation, Healthcare, and Other Applications), and Geography (Asia-Pacific, North America, Europe, South America, and Middle East and Africa). - Size, Share, Outlook, and Opportunity Analysis, 2022-2030.

The Injection Molding Materials Market is estimated to be valued at US$ XX million and is expected to exhibit a CAGR at high rate over the forecast period, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Injection molding is utilized to design a range of vastly utilized goods, consisting usual plastic products such as bottle tops and remote control coverings, injection and others. It is also generally utilized for producing heavy items such as car body panels. Injection molding is primarily employed where there is a requirement to produce thousands or millions of similar parts from a mold.

Competitive Landscape:

Key Players involved in the global Injection Molding Materials Market are ExxonMobil Corp., Heppner Molds, BASF SE, The Rodon Group, DuPont de Nemours, Inc., Lacks Enterprises, Inc., Dow, Inc., AptarGroup, Inc., Huntsman International LLC, Rutland Plastics, Eastman Chemical Company, HTI Plastics, Inc., INEOS Group, Master Molded Products Corp., LyondellBasell Industries Holdings B.V. Berry Global, Inc., SABIC, IAC Group and Magna International, Inc.

Market Key Drivers:

Rising demand of consumer electronics such as laptops, tablets and others is expected to augment the growth of global injection molding materials for market. For instance, as per the facts and figures, around 272.4 million people use laptop and 69.6 million people use desktop globally. The rising demand of food packaging is projected to boost the growth of global injection molding materials for market. For instance, Food packaging holds above 50% of flexible packaging applications including cosmetics, pharma and others.

Covid-19 Impact Analysis:

The Covid-19 outbreak had a negative impact on the growth of the global Injection Molding Materials Market. The imposition of strict lockdown and shutdown has led to the closure of production and manufacturing units. The disruption in supply chain, the halt in production, delay in supply of raw materials and restriction on transporting things from one place to another impeded the market growth.

Key Takeaways:

The global injection molding materials for market is anticipated to exhibit a CAGR of XX % during the forecast period owing to rising collaboration and partnerships, innovations and production. For instance, in October 2022, Evco Plastics planned a production capacity development with US$ 11 million in Wisconsin, the U.S. At present, the company uses 183 injection molding machines.

Among regions, North America, Europe and Asia Pacific are expected to witness robust growth in global Injection Molding Materials Market due to rising demand of packaging industry, rising use of moldings in pharma, healthcare, food & beverages and construction. For instance, as per the Government of India, the Indian pharmaceutical industry market is projected to be valued at US$ 130 billion by 2030. India has supplied pharma products to above 200 countries.