According to Fortune Business Insights, The global injection molded plastics market was valued at USD 387.51 billion in 2023 and is expected to increase from USD 403.85 billion in 2024 to USD 561.58 billion by 2032, registering a CAGR of 4.2% during 2024–2032. Asia Pacific held the leading position in 2023, accounting for 49.25% of the market share. In the United States, the market is forecast to witness substantial growth, reaching USD 65.32 billion by 2032, fueled by strong demand across the electrical & electronics and medical sectors.
Injection molding is a widely used manufacturing process for producing plastic components. It finds applications across several industries, including automotive, packaging, building & construction, electrical & electronics, medical, and more. Among these, the packaging industry represents the largest application area, where injection molding is utilized to manufacture containers, food packaging, cosmetic and pharmaceutical bottles, as well as various types of closures.
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On the basis of resin, the global market for injection molded plastics is bifurcated into Polypropylene (PP), Acrylonitrile butadiene styrene (ABS), High-density polyethylene (HDPE), Polystyrene (PS), and Others.
Based on application, the market is further divided into Automotive, Packaging, Building & Construction, Electrical & Electronics, Medical, and Others. The packaging segment held the largest share in this market. This segment is driven by food & beverages, pharmaceutical, and retail applications.
In terms of geography, the market for injection molded plastics is segregated into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.