Scienza e Tecnologia
Molded Plastics Market worth US$ 675.7 billion by 2027- Exclusive Report by MarketsandMarkets™
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PET segment is projected to grow at the highest growth rate in the molded plastics market. PET molded plastics are widely preferred in the packaging application owing to their high stiffness, heat resistance, steam barrier properties (food protection), stretchability (film and fiber applications), good transparency, and strong impact & rigidity balance.
Injection molding produces lightweight, chemical & corrosion-resistant, good durability plastics thereby having higher demand in the molded plastics market. Further, Molded plastics produced by injection molding techniques are used for various applications in several end-use industries including automotive, packaging, electronics, construction, agriculture, and pharmaceuticals.
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Based on application, the packaging segment is projected to grow at a higher growth rate than that of other applications, in the molded plastics market. This growth is attributed to the increasing adoption of molded plastics in the packaging industry due to increasing global trade that has reduced tariffs and decreased trade barriers which increased the international trade in packaging machinery & materials where molded plastic finds major application for producing packaging components & spares in order to boost its aesthetics and user-friendly packaging of the product.
Asia Pacific is projected to be the largest and fastest-growing market for molded plastics between 2022 and 2027. The presence of emerging economies including China and India , growing population and urbanization, and increasing industrialization are some of the factors driving the molded plastics market in the Asia Pacific . Further, increasing demand from end-use industries is driving the demand of molded plastics.
The key players in the molded plastics market include LyondellBasell ( Netherlands ), SABIC ( Saudi Arabia ), INEOS ( Switzerland ), DuPont (US), ExxonMobil (US), Sinopec ( China ), Dow Inc (US), BASF SE ( Germany ), Eastman Chemical Company (US), and LG Chem Ltd. ( South Korea ) and others.
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