The global molded plastics market was valued at $573.3 billion in 2021, and is projected to reach $869.2 billion by 2031, growing at a CAGR of 4.3% from 2022 to 2031.
Molded plastics are synthetically produced non-metallic compounds, which can be molded into various shapes for commercial use. These are highly versatile, efficient, malleable, and can be hardened to obtain the desired consistency. These are used for designing small components with tremendous amount of detailing and refinement. These are used in various applications such as building & construction, automotive & transportation, consumable & electronics, packaging, and others such as medical, stationary, and textiles, owing to their high ductility, tensile strength, impact resistance, moisture resistance, and greater design flexibility. In addition, these are used in the manufacturing of car fascia, bumpers, grilles, headlight pods, panels, fenders, wheel wells, engine cover, table components, air flow ducts, equipment, exterior fascia & decorative panels, and other components. These are used to produce electrical conduits, rain water & sewage pipes, plumbing, gas distributions pipes, storage tanks, flooring tiles & rolls, PVC sheets, insulating membranes, and other construction materials.
Rise in awareness regarding hygienic goods, safe food, and pharmaceutical is expected to boost the demand for molded plastics in the growing packaging industry. In addition, factors such as reduced raw material costs associated with production and procurement of molded plastic-based packaging parts and components has made key manufacturers become more linear toward using molded plastics to increase the aesthetic value and consumer friendliness of the packaging products. This may propel the growth of the molded plastics market. Furthermore, surge in investments in building infrastructure in countries such as the U.S., China, Japan, Mexico, and India have led the building & construction sector to witness a significant growth where molded plastics are widely used as insulating materials, cladding panels, and pipes in various construction sites. This is predicted boost growth of the molded plastics market.
However, molded plastics pose threat to both humans and environment owing to its disposal, decomposition, release of toxic chemical constituents, and other factors. In addition, long term exposure to molded plastics may cause health-related problems such as irritation in eye, vision failure, respiratory problems, dizziness, genotoxic, cardiovascular, and gastrointestinal problems. This is expected to hamper the market growth.
On the contrary, molded plastics are widely employed as substitutes over metals, owing to its corrosion resistance property. Moreover, factors such as growth in concentration of manufacturers, availability of feedstock at reduced prices, and arrival of local players have led manufacturers to offer molded plastics at low prices. This is anticipated to increase sales of molded plastics in several end use sectors; thus creating lucrative opportunities for the market.
The molded plastics market is segmented on the basis of product, technology, application, and region. On the basis of product, the market is categorized into polyvinyl chloride, polypropylene, polystyrene, low density polyethylene, high density polyethylene, polyethylene terephthalate, and engineering plastics. On the basis of technology, it is divided into injection molding, blow molding, extrusion, and others. By application, it is classified into building & construction, electrical & electronics, automotive, and packaging. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The leading players of the global molded plastics market include Atlantis Plastics, Inc., China Plastic Extrusion Ltd., Crescent Plastics Incorporated, GSH Industries, Keller Plastics Inc., Lakeland Plastics, Inc., Nenplas Limited, Petro Packaging Company, Inc., Pexco LLC, and Saint Gobain. The global extruded plastic market report provides in-depth competitive analysis as well as profiles of these major players.
Molded plastics are synthetically produced non-metallic compounds, which can be molded into various shapes for commercial use. These are highly versatile, efficient, malleable, and can be hardened to obtain the desired consistency. These are used for designing small components with tremendous amount of detailing and refinement. These are used in various applications such as building & construction, automotive & transportation, consumable & electronics, packaging, and others such as medical, stationary, and textiles, owing to their high ductility, tensile strength, impact resistance, moisture resistance, and greater design flexibility. In addition, these are used in the manufacturing of car fascia, bumpers, grilles, headlight pods, panels, fenders, wheel wells, engine cover, table components, air flow ducts, equipment, exterior fascia & decorative panels, and other components. These are used to produce electrical conduits, rain water & sewage pipes, plumbing, gas distributions pipes, storage tanks, flooring tiles & rolls, PVC sheets, insulating membranes, and other construction materials.
Rise in awareness regarding hygienic goods, safe food, and pharmaceutical is expected to boost the demand for molded plastics in the growing packaging industry. In addition, factors such as reduced raw material costs associated with production and procurement of molded plastic-based packaging parts and components has made key manufacturers become more linear toward using molded plastics to increase the aesthetic value and consumer friendliness of the packaging products. This may propel the growth of the molded plastics market. Furthermore, surge in investments in building infrastructure in countries such as the U.S., China, Japan, Mexico, and India have led the building & construction sector to witness a significant growth where molded plastics are widely used as insulating materials, cladding panels, and pipes in various construction sites. This is predicted boost growth of the molded plastics market.
However, molded plastics pose threat to both humans and environment owing to its disposal, decomposition, release of toxic chemical constituents, and other factors. In addition, long term exposure to molded plastics may cause health-related problems such as irritation in eye, vision failure, respiratory problems, dizziness, genotoxic, cardiovascular, and gastrointestinal problems. This is expected to hamper the market growth.
On the contrary, molded plastics are widely employed as substitutes over metals, owing to its corrosion resistance property. Moreover, factors such as growth in concentration of manufacturers, availability of feedstock at reduced prices, and arrival of local players have led manufacturers to offer molded plastics at low prices. This is anticipated to increase sales of molded plastics in several end use sectors; thus creating lucrative opportunities for the market.
The molded plastics market is segmented on the basis of product, technology, application, and region. On the basis of product, the market is categorized into polyvinyl chloride, polypropylene, polystyrene, low density polyethylene, high density polyethylene, polyethylene terephthalate, and engineering plastics. On the basis of technology, it is divided into injection molding, blow molding, extrusion, and others. By application, it is classified into building & construction, electrical & electronics, automotive, and packaging. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The leading players of the global molded plastics market include Atlantis Plastics, Inc., China Plastic Extrusion Ltd., Crescent Plastics Incorporated, GSH Industries, Keller Plastics Inc., Lakeland Plastics, Inc., Nenplas Limited, Petro Packaging Company, Inc., Pexco LLC, and Saint Gobain. The global extruded plastic market report provides in-depth competitive analysis as well as profiles of these major players.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the molded plastics market analysis from 2021 to 2031 to identify the prevailing molded plastics market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the molded plastics market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global molded plastics market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Product
- Polyethylene Terephthalate
- Engineering Plastics
- Polyvinyl Chloride
- Polypropylene
- Polystyrene
- Low Density Polyethylene
- High Density Polyethylene
By Technology
- Injection Molding
- Blow Molding
- Extrusion
- Others
By Application
- Building and Construction
- Automotive
- Electrical and Electronics
- Packaging
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Atlantis Plastics, Inc.
- China Plastic Extrusion Ltd.
- EASTMAN CHEMICAL COMPANY
- DuPont
- GSH Industries
- Mitsubishi Chemical Corporation
- Mitsui Chemicals Inc
- Petro Packaging Company, Inc
- Pexco LLC
- PSI Molded Plastics
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: MOLDED PLASTICS MARKET, BY PRODUCT
CHAPTER 5: MOLDED PLASTICS MARKET, BY TECHNOLOGY
CHAPTER 6: MOLDED PLASTICS MARKET, BY APPLICATION
CHAPTER 7: MOLDED PLASTICS MARKET, BY REGION
CHAPTER 8: COMPANY LANDSCAPE
CHAPTER 9: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Executive Summary
According to this report titled, 'Molded Plastics Market,' the molded plastics market was valued at $573.3 billion in 2021, and is estimated to reach $869.2 billion by 2031, growing at a CAGR of 4.3% from 2022 to 2031.Molded plastics are synthetic compounds that can be molded in various shapes based on the application. These molded plastics can be modified by adding pigments to their polymers. They are used in various end use sectors such as building & construction, automotive & transportation, marine, industrial, aerospace, electrical & electronics, and others.
Increase in investments in building infrastructure in countries such as the U.S., China, Japan, Mexico, and India have led the building & construction sector to witness a significant growth where molded plastics are used as insulating materials in floors, wall finishes, and roofs. In addition, sustainable economic growth coupled with increased demand for consumer goods has led the automotive & transportation sector to witness a significant increase in demand where molded plastics are widely used in automotive dashboard, bumpers, grills, bottle caps, music systems, wire spools, storage containers, and others. These factors are anticipated to contribute toward the global market growth.
However, production of molded plastics release various toxic chemicals that if exposed beyond the concentration limit may cause several health-related issues such as irritation in eye, vision failure, respiratory problems, dizziness, genotoxic, cardiovascular, and gastrointestinal problems. This factor is anticipated to hamper the market growth.
In addition, factors such as growth in concentration of manufacturers, availability of feedstock at reduced prices, and arrival of local players has led the manufacturers to offer molded plastics at low prices. This factor is expected to create remunerative opportunities for expansion of the molded plastics market in the future.
The molded plastics market is segmented on the basis of product, technology, application, and region.
By product, the market is categorized into polyvinyl chloride, polypropylene, polystyrene, low density polyethylene, high density polyethylene, polyethylene terephthalate, and engineering plastics. The polypropylene segment dominated the global market, in terms of revenue in 2021, with 21.3% of the total share. This is attributed to increase in use of propylene in packaging industry owing to its tough, high strength, good chemical resistance, and other properties. Furthermore, polypropylene molded plastics are safe and FDA-approved for food contact. These factors augment the growth of polypropylene segment in the global market.
By technology, the market is segregated into injection molding, blow molding, extrusion, and others. The injection molding segment dominated the global market, in terms of revenue in 2021, with 55.0% of the total share. This is attributed to the fact that injection molding technology is the most popular technology used for producing molded plastics. In addition, it uses automated processes to reduce the manufacturing cost and waste production during the manufacturing process. These factors may drive the adoption of injection molding technology for manufacturing molded plastics.
By application, the market is divided into building & construction, electrical & electronics, automotive and packaging. The packaging application segment dominated the global market, with 39.8% of the total share in 2021. This is attributed to increase in awareness for hygiene-related activities in the packaging sector where molded plastics are widely used to manufacture packaging parts and components to increase the aesthetic value and consumer friendliness of the packaging products.
Region-wise, the molded plastics market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific molded plastics market size is projected to grow at the highest CAGR during the forecast period, and accounted for a major molded plastics market share in 2021, owing to rise in automotive, building & construction, electrical & electronics, and industrial sectors that have enhanced demand for molded plastics in the region. China's consumer electronics sector is increasing rapidly, which in turn has enhanced the performance of the molded plastics market in the region. According to a report published by the United Nations Statistics Division in July 2021, China witnessed around 28.7% of the global manufacturing output for consumer electronic products. Furthermore, countries such as India, Australia, Indonesia, and Malaysia have witnessed a rapid increase in building & construction sector, where molded plastics is employed as a prime insulating material in various residential and commercial building & construction sites such as hotels, hospitals, homes, flats, warehouses, hospitals, showrooms, garages, and offices.
Key players that operate in the global molded plastics market include Atlantis Plastics, Inc., China Plastic Extrusion Ltd, DuPont, Eastman Chemical Company, GSH Industries, Mitsubishi Chemical Corporation, Mitsui Chemicals Inc, Petro Packaging Company, Inc., Pexco LLC., and PSI Molded Plastics.
Key findings of the study:
- The polypropylene segment is estimated to display the highest growth rate, in terms of revenue, registering a CAGR of 4.0% from 2022 to 2031.
- The injection molding segment is estimated to display the highest growth rate, in terms of revenue, registering a CAGR of 4.4% from 2022 to 2031.
- The packaging application segment is estimated to display the highest growth rate, in terms of revenue, registering a CAGR of 4.2% from 2022 to 2031.
- Asia-Pacific garnered the highest share of 47.4% in 2021, in terms of revenue, growing at a CAGR of 4.9%.
Companies Mentioned
- Atlantis Plastics, Inc.
- China Plastic Extrusion Ltd.
- EASTMAN CHEMICAL COMPANY
- DuPont
- GSH Industries
- Mitsubishi Chemical Corporation
- Mitsui Chemicals Inc
- Petro Packaging Company, Inc
- Pexco LLC
- PSI Molded Plastics
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 282 |
| Published | May 2022 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 573.3 billion |
| Forecasted Market Value ( USD | $ 869.2 billion |
| Compound Annual Growth Rate | 4.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
