LONDON--(BUSINESS WIRE)--The global injection molded plastics market research report by Technavio predicts the market to post a CAGR of around 5% during the period 2019-2023.
The demand for injection molded plastics for packaging applications in the F&Bs and consumer goods industries have been growing. These plastics are suitable for various packaging applications owing to their durability, performance, corrosion resistance, and temperature resistance. The increased shelf life and ease of transportation of plastics are also expected to contribute to the growth of the market in the packaging industry.
As per Technavio, the increasing innovations in the global packaging industry will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global injection molded plastics market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
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Global injection molded plastics market: Increasing innovations in the global packaging industry
The consumption of injection molded plastics is expected to increase owing to its use in active packaging, modified atmosphere packaging (MAP), and intelligent packaging. Innovations in bottles and cans, which are employed in packaging the F&B products and medicines are expected to increase the demand for injection molded plastics.
“Intelligent packaging makes use of smart materials for detecting changes in the environment through a combination of sensors, processors, and indicators. The packaging is blended with controlled gases such as oxygen, nitrogen, and carbon dioxide in modified atmosphere packaging to achieve the optimal blend for packaging food products. The demand for injection molded plastics is expected to be driven by extensive research and product development in the global packaging industry,” says a senior research analyst at Technavio.
Global injection molded plastics market: Segmentation analysis
This injection molded plastics market analysis report segments the market by application (packaging, consumer goods and electronics, automobile, and others), raw material (polyethylene, polypropylene, polyvinyl chloride, and others), and geography (APAC, Europe, MEA, South America, and North America).
The packaging segment held the largest injection molded plastics market share in 2018. Some of the major materials used in the production of injection molded plastics are polypropylene, acrylonitrile butadiene styrene, and high-density polyethylene. These materials are suitable for packaging applications due to factors such as low cost, compatibility, and flexibility.
APAC accounted for the highest share of the market in 2018. End-user industries of injection molded plastics in China, India, Japan, South Korea, and Indonesia will contribute significantly to the injection molded plastics market in APAC. Owing to the superior flexibility and extreme durability of these plastics, they are used for packaging F&B.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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