during the forecast period. The market is driven by various factors such as high demand from the packaging industry due to its material flexibility, low weight, and high efficiency and shift from single use plastic to sustainable & recyclable plastics.
New York, Dec. 26, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Molded Plastics Market by Type, Application And Region - Global Forecast to 2027" - https://www.reportlinker.com/p05400540/?utm_source=GNW
Furthermore, growing demand from emerging economies such India, China, and Brazil is expected to boost the growth of the molded plastics market.
Polypropylene segment to be the second-largest growing segment amongst type in the molded plastics market
Molded plastics market is segment as PP, PE, PVC, PET, PS, PU, and others based on the types of polymers.Polypropylenes are the majorly commercialized type of polymer extensively used in the molded plastics and hence account for the second-larger market share of the market as compared to the other type of polymers.
PP based molded plastics are cost-effective, has low coefficient of friction, tough, and good chemical resistant as compared to the other types, which is one of the driving factors for this segment.
Injection molding segment to be the largest segment amongst technologies in the overall molded plastics market during the forecast period
Molded plastics market is segmented into blow molding, injection molding, extrusion molding, and rotational molding based on technology.Injection molding technique involves the injection of melted plastics into the mold, where molds have cavities forming the parts.
The molten plastic fills the cavities and the rest of the mold. Almost all polymers can be molded using injection molding thereby boosting its demand in various application.
Packaging to grow at a highest growth rate amongst applications in the overall molded plastics market
Based on application, the molded plastics market is segmented into packaging, automotive & transportation, and construction & infrastructure, agriculture, pharmaceutical, electronics & electrical, and other applications.Packaging accounts for the highest market share of molded plastics market.
Rising preference for biodegradable polymers is driving the demand of molded plastics in the packaging applications.
Asia Pacific estimated to be the largest and the fastest growing region in the molded plastics market during the forecast period
Asia Pacific is the largest market for molded plastics.This large market share is primarily attributed to the presence of various developing nations in the region.
The nations including China and India are witnessing rising industrialization, growing population, and an increasing awareness about environment forcing to use sustainable plastics, is driving the molded plastics market in the region.
Breakdown of Primaries
Extensive primary interviews were conducted in the process of determining and verifying sizes of several segments and subsegments of the molded plastics market gathered through secondary research.
The breakdown of primary interviews has been given below.
• By Company Type: Tier 1 – 25%, Tier 2 – 50%, and Tier 3 – 25%
• By Designation: C Level Executives – 20%, Director Level – 30%, Others – 50%
• By Region: North America – 20%, Asia Pacific – 25%, Europe – 30%, Middle East & Africa – 10%, Latin America – 15%.
The key players in the molded plastics market include ExxonMobil Corporation (US), LyondellBasell Industries Holdings BV (Netherlands), INEOS (Switzerland), DowDuPont (US), BASF (Germany), SABIC (Saudi Arabia), Formosa Plastics Corporation (Taiwan), and Chevron Corporation (US).
Research Coverage
This report covers the molded plastics market and forecasts its market size until 2027.The market has been segmented based on type, technology, application, and region.
The report also provides detailed information on company profiles and competitive strategies adopted by the key players to strengthen their positions in the market.The report also provides insights into the driving and restraining factors in the molded plastics market, along with opportunities and challenges in the market.
It also includes profiles for top manufacturers in the market.
Reasons to Buy the Report
The report is expected to help market leaders/new entrants in the following ways:
1. This report segments the molded plastics market and provides the closest approximations of overall market size for its segments across different verticals and regions.
2. This report is expected to help stakeholders understand the pulse of the market and provide information on key drivers, restraints, challenges, and opportunities influencing the growth of the market.
3. This report is expected to help stakeholders obtain an in-depth understanding of the competitive landscape of the market and gain insights to improve the position of their businesses. The competitive landscape section includes detailed information on strategies, such as new product launches, investment & expansions, agreement & collaboration, and mergers & acquisitions.
Read the full report: https://www.reportlinker.com/p05400540/?utm_source=GNW
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