Injection Molded Plastics market to witness high tides in the years to come

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Injection molding, as the name suggests, involves injecting the mold with molten material. Herein, the material is “plastic”. Both – thermosetting and thermoplastic injection molded plastics are used to produce diverse components and parts across the industries. The thermosetting polymers such as melamine formaldehyde, polyester, epoxy resin are used for “injection molding”; whereas polysulfone, polyurethane, polyvinyl chloride, polystyrene, polycarbonate, high-density polyethylene, low-density polyethylene, polypropylene are amongst the thermoplastic polymers used for the same.

The end-users driving the injection molded plastics market in the construction industry include wall board, roofing, insulation, piping systems. However, the vertical catching up in this regard is “healthcare”; as cases for needles, pregnancy test kits, blood sample analysis cuvettes prefer injection molded plastics. Packaging industry has been ruling the roost; and will continue to do so in the near future as well. This could be credited to cost-effectiveness, and durability in the form of MAP (modified atmosphere packaging), intelligent packaging, and active packaging.

North America holds the largest share of injection molded plastics market; followed by Europe. Extensive research is “ON” in these regions. For instance, in June 2017, Dow Chemical finished with construction of their plastic plant in Houston. The novel plant started producing 400K metric tons polyethylene since then. In Jan 2017, BASF did expand their compounding plant at their Germany’s Schwarzheide site. Production capacity of ultradur polybutylene terephthalate and ultramid polyamide has been raised to 70K tons herein.

The APAC is expected to grow at the highest rate in the next 5-7 years due to rapid urbanization and industrialization; which would lead to ever-increasing usage of injection molded plastics. The other advantage of injection molded plastics is that they are resistant to corrosion. Since 2018, the players are onto inorganic mode of expansion. We could get to hear anything out of mergers, acquisitions, joint ventures pertaining to injection molded plastics further.

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