The global Injection Molding Materials Market is estimated to be valued at US$ 286.73 Bn in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Injection molding materials are a type of thermoplastic or thermosetting polymer that are fed into an injection molding machine where they are heated and shaped into various products. These materials offer advantages such as durability, resistance to chemicals and moisture, and can be easily molded into complex shapes and sizes.
Market key trends:
Growing demand for environment-friendly materials: The increasing awareness about reducing plastic waste and shifting preference towards sustainable products has led injection molding material manufacturers to develop bio-based and recyclable materials. For instance, PLA (polylactic acid) is a biodegradable thermoplastic derived from renewable plant sources such as corn starch, cassava roots or sugarcane. It offers properties similar to petroleum-based plastics and is increasingly being used for injection molding of various products.
The injection molding materials market has been witnessing rising demand for high-performance plastics globally. Materials such as polypropylene, nylon, and thermoplastic elastomers are increasingly being used in injection molding owing to their superior properties including durability, lightweight, resistance to corrosion and chemicals. Furthermore, the development of new grades of polymers catering to application requirements in industries such as automotive, packaging, consumer goods and electronics is fueling the consumption of injection molding materials.
SWOT Analysis
Strength: Inherently faster production process compared to other manufacturing processes allowing for high-volume and complex parts to be produced.
Weakness: High setup and tooling costs for molds. Requires large capital investments in molding machines.
Opportunity: Growing demand for lightweight and durable materials from automotive industry due to stringent fuel efficiency and emission norms.
Threats: Volatility in raw material prices can increase production costs. Strong competition from aluminum and composite materials in certain applications.
Key Takeaways
Global Injection Molding Materials Market Size is expected to witness high growth, exhibiting CAGR of 5.5% over the forecast period, due to increasing demand from automotive and packaging industries. The automotive industry is a major end-user of injection molding materials for various interior and exterior automotive parts.
The Asia Pacific region dominated the global market in 2023, with China being the largest injection molding materials consumer globally. This can be attributed to presence of a large automotive and electronics manufacturing base and growing domestic demand for consumer goods in the region.
Key players operating in the injection molding materials market are ExxonMobil, BASF, Dow, Huntsman, Eastman, INEOS, SABIC, Magna International, Newell Rubbermaid, Beckton Dickinson, and IAC group. ExxonMobil is one of the leading supplier of polypropylene and offers various homopolymers and copolymers used in a wide range of applications.
Search
Nach Verein filtern
- Art
- Causes
- Crafts
- Dance
- Drinks
- Film
- Fitness
- Food
- Spiele
- Gardening
- Health
- Home
- Literature
- Music
- Networking
- Other
- Party
- Religion
- Shopping
- Sports
- Theater
- Wellness
- IT, Cloud, Software and Technology
Read More
Data Centre Cabinets Rack Market Size, CAGR , Industry Analysis, Trends, Major Players and Forecast 2022-2028
Data centre cabinets rack market is expected to reach USD 7,941.22 million by 2028...
Artificial Sweetener Market: Trends and Growth Dynamics
Artificial Sweetener Market was valued at US$ 3.62 Bn. in 2022. Artificial Sweetener...
quordle
Quordle is known simply as a brand new word puzzle game that works on the same principle as...
Global Nuclear Decommissioning Services Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, And Growth Forecast To 2029
The global nuclear decommissioning services market is expected to witness significant growth over...