Molded Plastic Market

Molded Plastic Market Segmented By by Product type,
Technology Type, End-use industry, and Rregion till 2025
Molded plastics are the type of polymers, which can be molded into any size
and shape for the use in commercial applications. The use of pigments and other
additives enhances the quality of the molded plastics. Molded plastics are used
in various end-use industries, owing to the characteristics, such as durability,
lightweight, and high chemical resistance. The automobile industry uses molded
plastic for manufacturing of air flow ducts, engine cover, wheel wells, car
fascia, grilles, bumpers, and other components.
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Extensive expansion and development in the construction, automotive, and
packaging industry will boot growth in molded plastics market globally. For
instance, according to Organization Internationale des Constructeurs
Automobiles (OICA) the automotive industry increased with a growth rate of
4.5% during the period 2015-2016. Molded plastics are used in manufacturing
automobiles that are environmentally sustainable and low-carbon emission
vehicles, which are increasingly in demand. The rapid modernization in
emerging economies such as India, China, and Brazil has led to increasing
expansion of packaging industry owing to high outflow and inflow of fast
moving consumer goods, which will in turn boost growth of molded plastic
market. Furthermore, electrical and electronic industry has high demand for
molded plastics as it is used in the manufacturing of electronic devices such as
laptops, televisions, computers, and mobile phones.
In terms of revenue, Asia Pacific is anticipated to be the largest and fastest
growing region for molded plastic market witnessing the highest CAGR of 6.7%
during the forecast period. The growth of various end-use industries such as
packaging, construction, and automobile has surged the demand for molded
plastic. Furthermore, growing population and increasing disposable income of
the consumers in the emerging economies such as China and India, are major
factors responsible for the growth of the molded plastic market in Asia Pacific.
In addition, the growth in the electrical and electronic industry in the region is
also surging the market positively.
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Molded Plastic Market report categorizes the global market by Product type By Technology Type By End-use industry, and by Region - Insights, Size, Share, Opportunity Analysis, and Industry Forecast till 2025

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