Plastics Injection Molding Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR (2024 - 2029) | 4.18 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Plastics Injection Molding Market Analysis
The Plastics Injection Molding Market size is estimated at 5.90 Million tons in 2024, and is expected to reach 7.24 Million tons by 2029, growing at a CAGR of 4.18% during the forecast period (2024-2029).
Although there was a dip in demand for injection molding during the COVID-19 pandemic, the studied market steadily recovered and reached pre-pandemic activity levels.
- The major factors driving the demand for injection molding in the market are the increasing usage in automotive applications and the growing demand from the packaging industry. Additionally, increased consumer goods and electronics demand is anticipated to strengthen this demand further.
- However, the high initial costs associated with entering the injection molding market and the strong prevalence of alternative and emerging technologies like 3D printing are expected to hinder the market growth.
- On the flip side, the shift towards manufacturing lightweight and electrified vehicles and the emerging applications in the healthcare sector could open up lucrative opportunities for the growth of the plastics injection molding market.
- The Asia-Pacific region dominated the plastics injection molding market worldwide, with the largest consumption from countries such as China, India, and Japan.
Plastics Injection Molding Market Trends
Packaging Segment to Dominate the Market
- Plastic injection molding offers many solutions, from high-volume packaging to thin-wall containers and bottle molds. These solutions are extensively used in packaging purposes across various end-user industries.
- Besides providing versatile packaging solutions, plastic molding reduces plastic consumption, proving an ideal choice for economical and ecological reasons.
- The packaging industry across the globe is evolving and expanding at a rapid pace. According to a report published by the Association for Packaging and Processing Technologies (PMMI), the total value of the global packaging industry reached USD 42.2 billion in 2021.
- The growth was majorly led by the increasing population, growing sustainability concerns, rising disposable income in developing nations, growing retail sector in emerging economies, and increasing demand for smart packaging solutions.
- For instance, Japan stands in the 3rd position globally as one of the largest and fastest-growing e-commerce markets. The country is anticipated to generate revenue of around USD 232.20 billion by 2023 and is expected to grow at an average annual growth rate of 11.23% between 2023-28. The growing e-commerce sector in the nation is anticipated to strengthen the demand for packaging solutions.
- Similarly, the United States is the foremost company in the retail industry. Out of the top 10 largest retail companies in the world, five of them are based out of the United States. According to the Flexible Packaging Association of the United States, flexible packaging is the second-largest packaging segment in the country, with around 20% share in the market.
- Additionally, with the growing consumerism for packaged food and beverages in the country and the rise in restaurant takeaways in the aftermath of the COVID-19 pandemic, the revenue from the food and beverage industry could reach USD 25 billion by 2025. As of 2021, the industry is valued at around USD 21 billion, with food packaging accounting for over 50% of the total flexible packaging applications.
- Thus, owing to the factors above, the demand for plastic injection molding is anticipated to rise sharply in the packaging segment.
Asia-Pacific Region to Dominate the Market
- Due to emerging economies like China, India, Japan, and South Korea, the Asia-Pacific region is expected to dominate the global plastics injection molding market during the forecast period.
- China is one of the leading economies in the Asia-Pacific region. The packaging industry in the country is anticipated to register strong growth figures in the coming years, registering a CAGR of around 6.8% by 2025. The growth of the packaging industry is anticipated to augment the nation's demand for plastic injection molding.
- Similarly, China's automotive industry experienced growth in 2022, despite facing many obstacles, including the reoccurrence of frequent COVID-19 outbreaks, semiconductor chip shortages, and geopolitical tensions resulting in supply chain disruptions.
- According to China's Association of Automobile Manufacturers, the country recorded production and sales figures of 27.021 million and 26.864 million, respectively, an increase of 3.4% and 2.1% compared to the previous year. The growing adoption of plastic injection molding in the automotive industry could drive demand for the studied market during the forecast period.
- Additionally, demand for plastic injection molding is anticipated to be strengthened by the growing residential construction sector in the country. The Indian government, in its Union Budget 2022-23, allocated INR 48,000 crores (USD 6.44 billion) for its 'PM Aawas Yojana' scheme, reiterating its commitment to implementing 'Housing for All' which aims to build 80,00,000 affordable housing units for the urban and rural poor in FY 2022-23.
- The Asia-Pacific's electronic sector witnessed steady growth in the last several years, with China, India, and Japan leading the market race. According to the report published by the Japan Electronics and Information Technology Industries Association (JEITA), in 2021, the total production value of the electronics industry in Japan showcased a rise of nearly 10% from the previous year.
- Thus, the factors mentioned above indicate the Asia-Pacific region is set to dominate the global plastics injection molding market., during the forecast period.
Plastics Injection Molding Industry Overview
The plastics injection molding market is fragmented, with the top players accounting for a marginal market share. Some of the key companies in the market include Berry Global Inc, AptarGroup, Inc., Silgan Holdings Inc., Amcor PLC, and ALPLA.
Plastics Injection Molding Market Leaders
-
Berry Global Inc
-
AptarGroup, Inc.
-
ALPLA
-
Silgan Holdings Inc.
-
Amcor PLC
*Disclaimer: Major Players sorted in no particular order
Plastics Injection Molding Market News
- October 2022: Evco Plastics proposed an expansion of manufacturing capacity with USD 11 million in Wisconsin, the United States. Currently, the company operates 183 injection molding machines.
- July 2022: ALPLA invested USD 850,000 in India for a mold shop. The mold shop in India is expected to be the company's third such facility after Austria and Germany. The Indian mold shop may develop local solutions with global technology. This investment may increase ALPLA's total investments at Pashamylaram, India, to USD 61 million.
Plastics Injection Molding Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
-
4.1 Drivers
- 4.1.1 Growing Demand from the Packaging Industry
- 4.1.2 Favorable Demand from Consumer Goods and Electronics
- 4.1.3 Increasing Usage in Automotive Applications
-
4.2 Restraints
- 4.2.1 High Entry Cost and Presence of Alternative Technologies
- 4.3 Industry Value Chain Analysis
-
4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Consumers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Volume)
-
5.1 Raw Material Type
- 5.1.1 Polypropylene
- 5.1.2 Acrylonitrile Butadiene Styrene (ABS)
- 5.1.3 Polystyrene
- 5.1.4 Polyethylene
- 5.1.5 Polyvinyl Chloride (PVC)
- 5.1.6 Polycarbonate
- 5.1.7 Polyamide
- 5.1.8 Other Raw Materials
-
5.2 Applications
- 5.2.1 Packaging
- 5.2.2 Building and Construction
- 5.2.3 Consumer Goods
- 5.2.4 Electronics
- 5.2.5 Automotive and Transportation
- 5.2.6 Healthcare
- 5.2.7 Other Applications
-
5.3 Geography
- 5.3.1 Asia-Pacific
- 5.3.1.1 China
- 5.3.1.2 India
- 5.3.1.3 Japan
- 5.3.1.4 South Korea
- 5.3.1.5 Rest of Asia-Pacific
- 5.3.2 North America
- 5.3.2.1 United States
- 5.3.2.2 Canada
- 5.3.2.3 Mexico
- 5.3.3 Europe
- 5.3.3.1 Germany
- 5.3.3.2 United Kingdom
- 5.3.3.3 Italy
- 5.3.3.4 France
- 5.3.3.5 Rest of Europe
- 5.3.4 South America
- 5.3.4.1 Brazil
- 5.3.4.2 Argentina
- 5.3.4.3 Rest of South America
- 5.3.5 Middle East and Africa
- 5.3.5.1 Saudi Arabia
- 5.3.5.2 South Africa
- 5.3.5.3 Rest of Middle East & Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Ranking Analysis
- 6.3 Strategies Adopted by Leading Players
-
6.4 Company Profiles
- 6.4.1 ALPLA
- 6.4.2 Amcor PLC
- 6.4.3 AptarGroup Inc. (CSP Technologies)
- 6.4.4 BERICAP
- 6.4.5 Berry Global Inc.
- 6.4.6 EVCO Plastics
- 6.4.7 HTI Plastics
- 6.4.8 IAC Group
- 6.4.9 Magna International
- 6.4.10 Quantum Plastics
- 6.4.11 Silgan Holdings Inc.
- 6.4.12 The Rodon Group
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Adoption of Lightweight Vehicles and Electric Vehicles
- 7.2 Emerging Applications in the Healthcare Sector
Plastics Injection Molding Industry Segmentation
Injection molding plastics are produced to obtain molded products by injecting plastic materials molten by heat into a mold and then cooling and solidifying them. The plastics injection molding market is segmented by raw material, application, and geography. By raw material, the market is segmented into polypropylene, acrylonitrile butadiene styrene (ABS), polystyrene, polyethylene, polyvinyl chloride (PVC), polycarbonate, polyamide, and other raw materials. By application, the market is segmented into packaging, building and construction, consumer goods, electronics, automotive and transportation, healthcare, and other applications. The report also covers the market size and forecasts for plastics injection molding in 15 countries across major regions. The market sizing and forecasts are based on volume (kilotons) for each segment.
| Raw Material Type | Polypropylene | |
| Acrylonitrile Butadiene Styrene (ABS) | ||
| Polystyrene | ||
| Polyethylene | ||
| Polyvinyl Chloride (PVC) | ||
| Polycarbonate | ||
| Polyamide | ||
| Other Raw Materials | ||
| Applications | Packaging | |
| Building and Construction | ||
| Consumer Goods | ||
| Electronics | ||
| Automotive and Transportation | ||
| Healthcare | ||
| Other Applications | ||
| Geography | Asia-Pacific | China |
| India | ||
| Japan | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| Italy | ||
| France | ||
| Rest of Europe | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America | ||
| Geography | Middle East and Africa | Saudi Arabia |
| South Africa | ||
| Rest of Middle East & Africa |
Plastics Injection Molding Market Research FAQs
How big is the Plastics Injection Molding Market?
The Plastics Injection Molding Market size is expected to reach 5.90 million tons in 2024 and grow at a CAGR of 4.18% to reach 7.24 million tons by 2029.
What is the current Plastics Injection Molding Market size?
In 2024, the Plastics Injection Molding Market size is expected to reach 5.90 million tons.
Who are the key players in Plastics Injection Molding Market?
Berry Global Inc, AptarGroup, Inc., ALPLA, Silgan Holdings Inc. and Amcor PLC are the major companies operating in the Plastics Injection Molding Market.
Which is the fastest growing region in Plastics Injection Molding Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Plastics Injection Molding Market?
In 2024, the Asia Pacific accounts for the largest market share in Plastics Injection Molding Market.
What years does this Plastics Injection Molding Market cover, and what was the market size in 2023?
In 2023, the Plastics Injection Molding Market size was estimated at 5.66 million tons. The report covers the Plastics Injection Molding Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Plastics Injection Molding Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
What are the challenges facing the Plastic Injection Molding Industry?
The challenges facing the Plastic Injection Molding Industry are a) Rising environmental concerns associated with plastic waste and emissions b) Regulatory measures aimed at reducing environmental impact, along with increasing awareness of sustainability issues
What are the drivers of growth in the Injection Molded Plastics Market?
The drivers of growth in the Injection Molded Plastics Market are a) Increasing demand in the packaging industry, high usage of electronics and consumer goods b) Advancements in automotive technologies, including the demand for electric vehicles
Plastics Injection Molding Industry Report
The global plastic injection molding market is experiencing significant growth, driven by diverse applications across various industries such as packaging, healthcare, electronics, construction, and more. This market, crucial in the injection molding industry, utilizes polymers like polypropylene and acrylonitrile butadiene styrene, expanding due to its efficiency in producing complex and intricately shaped parts, which reduces manufacturing costs and waste. Particularly thriving in Asia-Pacific, it leads in market share due to rapid industrialization and favorable manufacturing conditions, while Europe also shows promising growth fueled by the automotive and consumer goods sectors. The adoption of sustainable practices and ongoing advancements in manufacturing technologies are set to further propel the injection molded plastics market, making it a vital component of modern industrial applications. For detailed statistics, market share, size, and revenue growth rate of the plastic injection molding market size, refer to Mordor Intelligence™ Industry Reports, which provide a comprehensive injection molding industry report and historical overview, available as a free report PDF download.
