The global injection molding plastic (IMP) market is anticipated to grow at a CAGR of around 4.5% during the forecast period (2024-2031). The global IMP market is majorly driven by the developments in IMP technology to enhance the overall designing of the products produced by the IMP machines with less cost and better strength and durability. The introduction of new technologies such as injection molding using nitrogen pressured gas assistance, structural foam, multi-material injection molding, and thin-wall injection molding technology has made the production of plastic components easy with less waste material produced. However, more recent advancements in plastic manufacturing technology have resulted in the development of enhanced polymers such as engineered resins that serve as more cost-effective alternatives to replace metal molding with plastic molding. For instance, new resin polymers formulations are developing every year to increase strength, decrease weight, and add a level of product durability that makes injection molding the new standard option for the latest products in several industries. By using these polymers in plastics can replace the use of metals, and plastics injection molding companies can get significant benefits such as cost-saving up to 25-30%, better manufacturing efficiency, enhanced capability for higher quality products.
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Due to developments in these technologies, the adoption of IMP in various end-user industries such as automobile, packaging, healthcare, construction, electrical & electronics is gaining popularity, which in turn, accelerating the market growth. Apart from the above developments in injection molding, the introduction of technologies such as CAE (Computer-Aided Engineering) along with the prediction of the properties of molded parts, innovative experiments to analyze processing, new machinery (processing), and recycling plastics have also accelerated the production of IMP machines global.
Furthermore, the initiatives taken by major companies towards the production of sustainable and eco-friendly plastics by adopting advanced technologies of IMP are also contributing to the overall growth of the market. For instance, The Rodon Group aims to produce sustainable and eco-friendly plastics by adopting advanced technologies during product developments. Some of the green initiatives taken by the group include landfill-free solutions, packaging conversion, energy conversion, and non-toxic materials for plastic production.
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Market Coverage
- Segment Covered-
o By Raw Material
o By Application
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- Autronic Plastics, Inc., BASF SE, CNPC, Costal Plastic Molding, Inc., DuPont de Nemours, Inc
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How are players addressing challenges to sustain growth?
- Where is the investment opportunity?
Global IMP Market Report Segment
By Raw Material
- Polypropylene
- Acrylonitrile Butadiene Styrene (ABS)
- High-Density Polyethylene (HDPE)
- Polystyrene
- Others
By Application
- Automobile
- Consumer Goods & Electronics
- Packaging
- Building & Construction
- Healthcare
- Others (Agriculture)
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