The Global Molded Plastic Market has been analyzed with respect to five regions—North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Asia-Pacific accounted for the largest share of the Global Molded Plastics Market in 2017, both in terms of value and volume. The market in Asia-Pacific is expected to register the highest CAGR during the forecast period owing to the rapidly growing end-use industries such as packaging, construction, and automotive in the region. Favorable government schemes such as incentives and tax benefits have resulted in the shift of automotive manufacturing hubs to China, India, and ASEAN countries, which is expected to propel the demand for Molded Plastics in the region. Furthermore, the Indian electronics market is expected to grow substantially in the coming years. This can be attributed to the construction of electronic hardware technology parks (EHTP) in special economic zones across the country, which is expected to further boost product demand during the forecast period.
North America is another prominent market for Molded Plastics due to the rebounding construction industry and increased demand for lightweight automobiles.
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The European market is projected to register considerable growth during the review period. The rising adoption of molded plastic in the established packaging and automotive industries are the major factor contributing to the growth of the market in this region. The growth of the European market is also driven by the presence of tier-1 automotive, medical equipment, and electronics OEMs in the region.
Latin America is another substantial region propelling market growth owing to the growing automotive industry.
The market in the Middle East & Africa is expected to grow as a result of the expanding end-use industries such as healthcare and building and construction.
Key Players:
Some of the key players in the Global Molded Plastic Market are BASF SE (Germany), Harwal Group of Companies (UAE), DuPont (US), HTI Plastics (US), Eastman Chemical Company (US), INEOS (UK), LyondellBasell Industries Holdings BV (Netherlands), Reliance Industries Limited (India), SABIC (Saudi Arabia), Exxon Mobil Corporation (US), Magna International Inc. (Canada), and Takween Advanced Industries (Saudi Arabia).
Segmentation:
The Global Molded Plastic Market has been segmented, on the basis of material, into polypropylene, polyvinylchloride, polystyrene, polyethylene, polyethylene terephthalate, and others
On the Basis of Application, the Global Molded Plastic Market has been segregated into packaging, electronics, building and construction, automotive, and others.
By Technology, the Global Molded Plastic Market has been divided into injection molding, blow molding, thermoforming, extrusion molding, and others.
The Global Molded Plastic Market has been segmented, By Region, into North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa.
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