Injection Molded Plastics Market Size, Leading Players, Growth and Future Scope

The rising requirement of injection molded plastics in the automotive industry is one of the major factors fuelling the surge in their demand across the world. In the automotive industry, these plastics are widely used in various applications such as manufacturing of automobile components for reducing the overall weight of the vehicle. This is mainly credited to the mushrooming need for increasing the fuel efficiency of the vehicle and improve the vehicular performance. 

The ballooning utilization of injection molded plastics in the packaging industry is another important factor responsible for their soaring sales throughout the world. These plastics are extensively used in the packaging of vegetables, medicine, and food and bakery products, owing to the rising need for fast-moving consumer goods (FMCG) and pharmaceutical products. Due to these factors, the global injection molded plastics market is expected to progress at a CAGR of 6.0% during the forecast period. The valuation of the market is predicted to increase from $283.5 billion in 2016 to $496.2 billion by 2025.

Across the globe, the Asia-Pacific (APAC) region is predicted to register the fastest growth in the utilization of injection molded plastics during the forecast period. This is mainly attributed to the mushrooming demand for packaging in the pharmaceutical, cosmetics & toiletries, and food & beverages industries. In addition to this, the rising consumption of soft drinks in the region, because of the increasing average temperatures and surging urban population in the various APAC countries, are significantly contributing toward the progress of the injection molded plastics market in the region. 

Therefore, the sales of injection molded plastics will increase considerably all over the world in future, mainly because of the rising requirement of these materials in the automotive industry and increasing packaging applications in the food & beverages and pharmaceutical industries.

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