LONDON, April 18, 2019 /PRNewswire/ -- Global Molded Plastics Market by Type (Polyethylene, Polypropylene, Polyvinyl Chloride, Polyethylene Terephthalate, Polystyrene, Polyurethane), by Technology (Blow Molding, Injection Molding, Extrusion Molding, Rotational Molding, Thermoforming), by End User (Packaging, Automotive & Transportation, Construction & Infrastructure, Agriculture, Pharmaceutical, Electronics & Electrical), Global Opportunity Analysis and Industry Forecast
• Plastic is highly being used in many products these days. Molded plastics are prepared by injecting the molten liquid plastic into a mold and is then left for a certain time to cool and then harden to its desired consistency and get a required shape. • Molded plastics are efficient and versatile to work with and can be used in a multitude of different ways such as molded designing tiny items with a tremendous amount of detail and refinement.
Market Overview and Trends • Molded plastics have numerous desirable properties such as versatility, insulation, elasticity, high strength and low maintenance, which are highly essential for development of construction and automobile components. • Recent developments in these sectors have forces the professionals to seek new ways to make the products more durable and efficient. • Plastics such as polyvinyl chloride is used in development of insulation tapes, cables, and other construction materials. • Also, polypropylene and polyethylene are used in manufacturing gas pipes, electrical conduits, windows, doors, drainage pipes, flooring tiles, and many other components. • Moreover, certain advancements to polymers and injection molding technologies have added to widespread adoption of plastics in the healthcare industry. • With the help of the molded plastics, medical industry manufacturers artificial joints, and handheld medical devices and instruments to reduce device weight, improve functionality and lower cost of the products. • Recent research studies circling around innovative biobased polymers, improved processing techniques, and novel post-processing technologies are expanding the potential of plastics throughout the medical industry and focusing on improving potential of molded plastics market.
Factors Influencing the Market Growth: • Increasing demand for light weight material in the growing packaging and petrochemical industry • Increasing use of plastic components in consumer electronics • Increasing use of plastics in manufacturing household care products • Growing consumption of molded plastics in the automotive industry. • Advantages such as curtailing the product development time • Reducing the development costs increases adoption of molded plastics across the globe.
Factors Restraining the Market Growth: • Growing environmental concerns • Fluctuation in raw material prices
Geographic breakdown Focused regional forecasts and analysis explore the future opportunities: • North America Market, 2019-2029 • Europe Market, 2019-2029 • Asia-Pacific Market, 2019-2029 • LAMEA Market, 2019-2029
Competitive Analysis: • In order to gain a significant market share, the key players in this market mainly focus on expanding their production capacity and enhancing their product portfolio. • Companies such as Borealis and Tulip Molded Plastics Corporation established new facilities that focuses on injection molding and engineered resin production. • Moreover, mergers and acquisitions also help the companies to gain a competitive edge.
Major Market Players: Exxon Mobil, LyondellBasell, DowDuPont, SABIC, INEOS, Solvay, Formosa Plastic, Chevron, Eastman, China Petroleum, and Reliance Industries.
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Companies covered in the report include:
AGC Chemicals BASF SE Borealis Braskem Chemours Company DowDuPont Ems-Chemie Exxon Mobil Haldia Petrochemicals Hanwha Group Indorama INEOS Lanxess LG Chem Lotte Chemical LyondellBasell Ongc Petro Additions Qenos Reliance Industries Repsol SABIC Shin–Etsu SIBUR Versalis Westlake Chemical