Global Plastics Injection Molding Market Set to Grow at CAGR of 4.18%, Reaching 6.95 Million Tons by 2028

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23 Aug, 2023, 18:30 ET

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DUBLIN, Aug. 23, 2023 /PRNewswire/ -- The "Plastics Injection Molding Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)" report has been added to ResearchAndMarkets.com's offering.

The global Plastics Injection Molding market is poised for growth, with an estimated increase from 5.66 million tons in 2023 to 6.95 million tons by 2028. This projected growth reflects a Compound Annual Growth Rate (CAGR) of 4.18% during the forecast period of 2023-2028.

Despite a dip in demand for injection molding during the COVID-19 pandemic, the market exhibited resilience, recovering steadily and regaining pre-pandemic activity levels.

Key Factors Driving Demand and Growth

Several significant factors are driving the demand for injection molding within the market:

Challenges and Opportunities

While the injection molding market is on a growth trajectory, it also faces challenges and opportunities:

Regional Dominance: Asia-Pacific

The Asia-Pacific region is anticipated to dominate the global plastics injection molding market. This dominance is attributed to emerging economies such as China, India, Japan, and South Korea. China's packaging industry and automotive sector are expected to drive demand, while India's focus on affordable housing and the electronic sector contribute to market growth.

Trends and Opportunities: Packaging Segment

The packaging segment is set to dominate the plastics injection molding market due to its versatile solutions and ecological benefits. The global packaging industry's rapid evolution, driven by factors such as population growth, sustainability concerns, and retail sector expansion, fuels the demand for plastic molding solutions.

Industry Overview

The plastics injection molding market is characterized by fragmentation, with top players holding a marginal market share. Key companies in the market include Berry Global Inc, AptarGroup, Inc., Silgan Holdings Inc., Amcor PLC, and ALPLA.

Market Dynamics

Drivers:

Restraints:

Competitive Portfolio:

For more information about this report visit https://www.researchandmarkets.com/r/pc3n14

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