Molded Plastics Market
Molded Plastics Market Analysis By Material (Polypropylene, Polyethylene, Polyvinyl Chloride, Polystyrene & Polyethylene Terephthalate) By End-Use (Packaging, Consumables & Electronics, Automotive & Transportation & Building & Construction) By Region, Forecast 2022-2032
Analysis of Molded Plastics market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Molded Plastics Market Outlook (2022-2032)
The global molded plastics market has reached US$ 165.8 billion in 2022, and is forecast to exceed a valuation of US$ 260.5 billion by 2032, expanding at a CAGR of 4.7% over the said time period.
Report Attributes |
Details |
Molded Plastics Market Size (2021A) |
US$ 160.6 Billion |
Estimated Year Value (2022E) |
US$ 165.8 Billion |
Forecasted Year Value (2032F) |
US$ 260.5 Billion |
Global Market Growth Rate (2022-2032) |
4.7% CAGR |
Europe Market Share (2021) |
~26.5% CAGR |
Europe Growth Rate (2022-2032) |
~4.4% CAGR |
Germany Growth Rate (2022-2032) |
~4.3% CAGR |
Market Share of Top 5 Companies |
~32% CAGR |
Key Companies Profiled |
|
Demand is likely to grow on the back of rising usage of several kinds of polymers in different industries, coupled with augmented use of molded plastics in the agriculture industry, thereby supporting market growth over the assessment period.
Sales of molded plastics currently account for around 28.1% share in the global plastics market. The molded plastics market has witnessed significant growth in the last half-decade due to fast growth in various end-use industries such as electrical & electronics, automotive, transpiration, etc..
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Consumption Analysis of Molded Plastics (2017-2021) Vs. Market Growth Forecasts (2022-2032)
Based on historical analysis, molded plastics market revenue observed increase at around 3.2% CAGR from 2017 to 2021. This provided an absolute dollar opportunity of US$ 19.3 billion over the same time frame, and is projected to provide higher rewarding opportunities in the years ahead.
The North American molded plastics market is the leading revenue shareholder with 1/3 market share. It is likely to gain 160 BPS at 5.2% CAGR. Likewise, the United States molded plastics market is the leader in North America, holding nearly 90.5% market share.
The East Asian molded plastics market accounts for around 1/5 share of the global molded plastics market. It is anticipated to create an absolute $ opportunity of around US$ 16.1 billion at a CAGR of 4.7% over the forecast period.
The Chinese molded plastics market is keeping itself in the top position in East Asia by acquiring more than 50% of the total market share. It is expected to see 5.7% CAGR and provide a high absolute dollar opportunity through the valuation period.
Based on segmental study, demand for polypropylene molded plastics grew 1.2X in the last half-decade and is poised to grow 2.1X during the assessment years. Likewise, polyethylene plastics are projected to see growth at 5.4% CAGR and provide an absolute dollar opportunity of nearly US$ 18.2 billion by the end of 2032.
Overall, Fact.MR, a market research and competitive intelligence provider, projects the molded plastics market to witness 4.7% CAGR during 2022-2032 in contrast 3.2% CAGR from 2017-2021.
Why is Demand for Molded Plastics Likely to Rise Steadily Going Forward?
“Rising Demand from Automotive and Packaging Sectors”
Plastic processing is a technique by which, polymers, in the form of pellets, granules, sheets, fluids, preforms, and powders, are transformed into shapes, formed parts, and components using unbending frames termed as molds or matrix. Polyethylene, polyvinyl chloride, polypropylene, polyethylene terephthalate, polystyrene, polyamides, and polycarbonate are largely used polymers for manufacturing plastic parts.
Increasing use of various kinds of polymers in different industries is opening the gates for the growth of the overall market. For instance, increasing automotive production and rising demand for safe and secure packaging from the consumer goods industry are likely to drive demand for molded plastics over the coming years.
Owing to this, market revenue is projected to grow 1.6X by the end of the forecast period.
"Increasing High-Tech Agricultural Applications of Molded Plastics"
Molded plastics are largely used in the agriculture industry. This sector’s rising demand for plastics is anticipated to drive molded plastic sales during the assessment period. Augmented consumption of plastics in the agricultural industry has supported farmers in enhancing crop yield and food quality.
Molded plastic applications in agriculture include PP, PE, PET, and PVC. These types of plastics are mainly used in tunnels, greenhouses, mulching, silage, reservoirs and irrigation systems, nets, fittings, and spray cones that are used to shade the inner side of a greenhouse.
Plastic irrigation pipes manufactured from PVC aid in reducing the wastage of nutrients and water. Reservoirs that are built with plastics assist in retaining rainwater. Mulching and greenhouses help in reducing the usage of insecticides by keeping the crops in a locked zone. Asparagus and watermelon are mostly grown by using plastic tunnels.
“Molded Plastic Usage Driven By Several Beneficial Properties”
The molded plastics market is likely to strengthen rapidly as an outcome of broadening applications in building & construction, transportation, consumer products, etc.
There is ever-rising demand from the pharmaceutical industry for packaging using molded plastics for liquid drugs, restorative devices, etc. The inert properties of molded plastic products, along with their versatility, lightweight, and durability, make them viable for packaging medical products.
For instance, injection-molded plastics are the best choice for packaging disposable syringes, whereas, thermoformed molded plastics find wide usage in air-tight sealing.
Country-wise Insights
Why are Molded Plastic Manufacturers Eyeing Germany?
The European pharmaceutical industry is expected to grow significantly over the coming years. The German pharmaceuticals industry is likely to drive high demand for molded plastics due to massive investments over the next ten years.
The German pharmaceutical industry’s expansion is projected to provide rewarding opportunities for manufacturers of molded plastics. The German molded plastics market holds around 1/5 of the European market share, and is expected to expand at 4.3% CAGR over the assessment period.
Which South Asia and Oceania Countries Account for Significant Molded Plastic Demand?
Hassle-free labor availability, favorable regulations, and numerous projects run by governments are supporting leading companies to place their manufacturing units in developing South Asian countries such as India, Indonesia, and Thailand.
Abundant availability of agricultural fields and automotive industry growth in these countries are expected to drive demand for molded plastics. Moreover, the rising population is generating significant need for medical infrastructure, owing to which, governments are planning to invest a large portion of their budgets in the same. This is projected to create tremendous revenue-generating opportunities for market players going ahead.
The automotive industry's need for molded plastics has been amplified in the recent few years due to increased middle-class income and urbanization. In anticipation of increasing demand from the automobile sector, international corporations are closely monitoring the South Asia and Oceania region.
The South Asia & Oceania molded plastics market has captured more than 1/10 share in the global market. Further, the SAO market is anticipated to gain 89 BPS and generate an absolute dollar opportunity of US$ 11.5 billion over the decade.
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Category-wise Insights
Which Material is Hugely Popular for Producing Molded Plastics?
Molded plastics have numerous properties such as elasticity, versatility, low maintenance and high strength, insulation, etc., which are vital for automobile components and construction.
Polyvinyl chloride is used in manufacturing insulation cables, tapes, and other materials in construction. Further, both polyethylene and polypropylene are used in manufacturing drainage pipes, gas pipes, flooring tiles, electrical conduits, doors, windows, etc.
The leading material segment of the global molded plastics market is polypropylene, which holds nearly 2/5 market share and is expected to demonstrate growth at 6% CAGR over the assessment period.
Which Molded Plastic Application Will Bring High Revenue Growth?
Based on application of molded plastics, the packaging industry has acquired more than 1/4 market share in 2022 due to an increase in demand from numerous industries. Growth of the segment is largely credited to swelling demand for substitutions for other packaging materials, such as glass and metals.
Flexibility in design, moisture and chemical resistance, low cost, and lightweight properties of molded plastics are expected to drive high consumption in the packaging industry. Molded plastics are used in producing containers, cans, bottles, and packaging films that are used in pharmaceutical, chemical, and food & beverage industries.
Packaging application is likely to expand at 5.4% CAGR and provide an absolute $ opportunity of nearly US$ 25.3 billion between 2022 and 2032.
Competitive Landscape: Top Companies in Molded Plastics Market
The global molded plastics market is largely fragmented, and North American companies are dominating the overall market due to their worldwide presence. Industry players are focusing on improving their R&D capabilities and developing new products.
- In 2021, BASF set out to increase its polyamides product portfolio for the high-temperature variety by launching a new brand - heat-stabilized Ultramid.
- In August 2021, LANXESS completed the acquisition of a USA-based leading manufacturer of specialty chemicals - Emerald Kalama Chemical.
Fact.MR has provided detailed information about price points of top manufacturers of molded plastics market positioned across regions, sales growth, production capacity, and speculative technological expansion in the recently published report.
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
Molded Plastics Industry Research by Category
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Molded Plastics Market by Material :
- Polypropylene
- Polyethylene
- Polyvinyl Chloride
- Polystyrene
- Polyethylene Terephthalate
- Other Materials
-
Molded Plastics Market by End Use :
- Packaging
- Consumables & Electronics
- Automotive & Transportation
- Building & Construction
- Other Applications
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Molded Plastics Market by Region :
- North America Molded Plastics Market
- Latin America Molded Plastics Market
- Europe Molded Plastics Market
- East Asia Molded Plastics Market
- South Asia & Oceania Molded Plastics Market
- MEA Molded Plastics Market
- FAQs -
What is the global molded plastics market valued at?
The global molded plastics market is worth US$ 165.8 billion in 2022, and is anticipated to surpass US$ 260.5 billion by 2032-end.
At what rate did the market expand historically?
2017 to 2021 saw the global molded plastics market expand at 3.2% CAGR.
Who are the key manufacturers of molded plastics?
Prominent suppliers of molded plastics are Company BASF SE, E. I. DU PONT DE NEMOURS AND COMPANY, ExxonMobil Corp., and Dow, Inc.
Which region leads the global molded plastics market?
North America is the largest molded plastics market accounting for 1/3 of global market share in 2022.
Which material contributes maximum share to molded plastic sales?
The polypropylene segment holds 20.9% share in global sales of molded plastics.