Quick Summary:
In the rapidly expanding plastic contract manufacturing market, key insights for strategic decision making and future planning are critical. Plastic contract manufacturing refers to a knowledge-rich process where one firm commissions another to produce plastic components or full products, based on precise specifications. By doing so, organizations can enhance their supply chain performance, offload work, and importantly, optimize costs. These outsourced manufacturing solutions provide end-users more flexibility by alleviating the need for significant capital investment in new production facilities, equipment, and staff training procedures.
This extensive market report provides a comprehensive analysis of the key trends and forecasts at global, regional, and country levels. It encapsulates a broad range of segments including various types of product, process, and application. The balance between increasing demand for plastic in various industries, such as consumer electronics and medical devices, and the appealing advantages of contract manufacturing such as integrated design, rapid prototyping, and reduced costs, lay the foundation for a positive market outlook. With this report, explore the plastic contract manufacturing landscape, equipped with indispensable insights for your future growth and success.
The global plastic contract manufacturing market size reached US$ 34.5 Billion in 2022. Looking forward, the publisher expects the market to reach US$ 47.0 Billion by 2028, exhibiting a growth rate (CAGR) of 5.21% during 2023-2028.
Plastic contract manufacturing refers to a method of producing plastic by hiring another firm to create components or final products. In this process, contact manufacturers determine the raw material, the amount of time required, design specifications and certification requirements to customize and develop the product according to their specific size, design, and need. They also outsource particular parts of the production process, which reduces the cost for end users. The plastic contract manufacturing process enables efficient manufacturing, thereby enhancing the supply chain performance of the producer. In recent years, plastic contract manufacturing has gained traction as it provides a knowledge base, offloads work, and reduces production costs. It also saves the organizations from investing in new production facilities, tools and equipment, and staff training procedures.
Plastic contract manufacturing refers to a method of producing plastic by hiring another firm to create components or final products. In this process, contact manufacturers determine the raw material, the amount of time required, design specifications and certification requirements to customize and develop the product according to their specific size, design, and need. They also outsource particular parts of the production process, which reduces the cost for end users. The plastic contract manufacturing process enables efficient manufacturing, thereby enhancing the supply chain performance of the producer. In recent years, plastic contract manufacturing has gained traction as it provides a knowledge base, offloads work, and reduces production costs. It also saves the organizations from investing in new production facilities, tools and equipment, and staff training procedures.
Plastic Contract Manufacturing Market Trends:
The increasing demand for consumer electronics, such as smartphones, wearable devices, televisions, computers, laptops, cameras, and video recorders, represents one of the key factors driving the growth of the market. The use of plastic in the production of medical devices due to the increasing number of medical tests performed for the diagnosis of diseases has also propelled the market growth. Plastics, such as polyvinylchloride (PVC), polyethylene (PE), polypropylene (PP), and engineering plastics are increasingly used to manufacture medical devices. Moreover, manufacturers are rapidly adopting contract manufacturing as it offers various advantages such as integrated design, rapid prototyping, streamlined production trials and reduced cost of plastic production. Furthermore, contract manufacturing allows the OEMs to focus on other crucial business aspects, including increasing sales, strategic planning, marketing, and customer services, resulting in steady production and efficient supply chain management. These factors are expected to create a positive outlook for the market in the coming years.Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global plastic contract manufacturing market report, along with forecasts at the global, regional and country level from 2023-2028. The report has categorized the market based on product, process and application.Breakup by Product:
- Polypropylene
- ABS
- Polyethylene
- Polystyrene
- Others
Breakup by Process:
- Injection Molding
- CNC Machining
- 3D Printing
- Others
Breakup by Application:
- Consumer Goods and Appliances
- Medical
- Aerospace and Defense
- Automotive
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Baytech Plastics Inc., C&J Industries, EVCO Plastics, Genesis Plastics Welding, Gregstrom Corporation, Inzign Pte. Ltd., Mack Group, McClarin Composites, Nolato AB, Plastion Industries Inc., RSP Inc. and Tessy Plastics Corporation.Key Questions Answered in This Report:
- How has the global plastic contract manufacturing market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global plastic contract manufacturing market?
- What are the key regional markets?
- What is the breakup of the market based on the product?
- What is the breakup of the market based on the process?
- What is the breakup of the market based on the application?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global plastic contract manufacturing market and who are the key players?
- What is the degree of competition in the industry?
Frequently Asked Questions about the Global Plastic Contract Manufacturing Market
What is the estimated value of the Global Plastic Contract Manufacturing Market?
What is the growth rate of the Global Plastic Contract Manufacturing Market?
What is the forecasted size of the Global Plastic Contract Manufacturing Market?
Who are the key companies in the Global Plastic Contract Manufacturing Market?
| Report Attribute | Details |
|---|---|
| No. of Pages | 146 |
| Published | September 2023 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( USD | $ 34.5 Billion |
| Forecasted Market Value ( USD | $ 47 Billion |
| Compound Annual Growth Rate | 5.3% |
| Regions Covered | Global |
| No. of Companies Mentioned | 12 |
Table of Contents
1 Preface3 Executive Summary11 Value Chain Analysis13 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Plastic Contract Manufacturing Market
6 Market Breakup by Product
7 Market Breakup by Process
8 Market Breakup by Application
9 Market Breakup by Region
10 SWOT Analysis
12 Porters Five Forces Analysis
14 Competitive Landscape
List of Tables
List of Tables
Companies Mentioned
- Baytech Plastics Inc.
- C&J Industries
- EVCO Plastics
- Genesis Plastics Welding
- Gregstrom Corporation
- Inzign Pte. Ltd.
- Mack Group
- McClarin Composites
- Nolato AB
- Plastion Industries Inc.
- RSP Inc.
- Tessy Plastics Corporation.
Methodology
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