“The molded plastics market is projected to grow at a CAGR of 6.2% from 2018 to 2023.”
The molded plastics market is estimated to be USD 352.21 billion in 2018 and is projected to reach USD 475.86 billion by 2023, at a CAGR of 6.2% from 2018 to 2023. Increasing urbanization, along with the growing population and new construction activities is expected to fuel the growth of the construction industry, which, in turn, is expected to drive the molded plastics market. However, fluctuations in raw material prices are hampering the growth of the molded plastics market. In addition, the current levels of usage have led to huge waste disposal resulting in several environmental problems. When disposed, plastic products release harmful chemicals in the form of pollutants.
“Among types, polyurethane is projected to be the fastest-growing segment of the molded plastics market during the forecast period.”
Among types, the polyurethane segment of the molded plastics market is projected to grow at the highest CAGR during the forecast period. The high demand for polyurethane molded plastics in automotive and construction industries is expected to drive the demand for molded plastics.
“The APAC is projected to be largest molded plastics market during the forecast period.”
The Asia Pacific molded plastics market is projected to grow at the highest CAGR from 2018 to 2023. This high growth of the Asia Pacific molded plastics market can be attributed to the increased use of molded plastics in the packaging, automotive & transportation, and construction & infrastructure applications. Moreover, the presence of key manufacturers of molded plastics in the region, coupled with the increased demand for molded plastics for various applications is expected to fuel the growth of the Asia Pacific molded plastics market during the forecast period.
Breakdown of profiles of primary interviews for the report on the molded plastics market
- By Company Type – Tier 1 – 45%, Tier 2 –22%, and Tier 3 – 33%
- By Designation – C Level – 50%, Director Level – 10%, and Others – 40%
- By Region – Europe – 50%, Asia Pacific – 31%, North America – 13%, and RoW – 6%
Some of the key companies profiled in this report are ExxonMobil (US), LyondellBasell (Netherlands), DowDuPont (US), SABIC (Saudi Arabia), INEOS (Switzerland), Solvay (Belgium), Formosa Plastics (Taiwan), Chevron (US), Eastman (US), China Petroleum (China), Borealis(Germany), Versalis (Italy), LG Chem (South Korea), and Reliance Industries (India) are the leading molded plastics manufacturers globally.
The report covers the molded plastics market across different types of molded plastics, applications, and regions. It aims at estimating the market size and future growth potential of the molded plastics market across various types of molded plastics. The report also includes an in-depth competitive analysis of the key market players, along with their profiles and key growth strategies.
Key Benefits of Buying the Report
From an insight perspective, this research report has been focusing on various levels of analyses, which include industry analysis (industry trends) and company profiles. These insights together comprise and discuss the basic views on the competitive landscape, emerging and high-growth segments of the molded plastics market, high-growth regions, and drivers, restraints, opportunities, and challenges in the molded plastics market.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on molded plastics offered by top players operating in the molded plastics market.
- Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and new applications in the molded plastics market.
- Market Development: Comprehensive information about lucrative and emerging markets. The report analyzes the markets for molded plastics across different regions.
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the molded plastics market.
- Competitive Assessment: In-depth assessment of strategies, products, and manufacturing capabilities of leading players in the molded plastics market.