The global IMP market is anticipated to grow at a CAGR of around 4.5% during the forecast period (2021-2027). IMP is a process in which molded products are formed by injecting molten plastic into the mold, and then cooling and solidifying them. The increasing application of IMP in various end-user industries such as automotive, consumer goods & electronics, packaging, building & construction, healthcare, and others is the major factor driving the growth of the market. Among these, the use of IMP in the packaging industry is high. Injection molding plastic in the packaging industry is used for making various types of plastic components, food packages, closures, and containers for various types of cosmetics products. Whereas the adoption of injection molding in automotive and electronics industries due to properties such as low-cost, corrosion resistance, easy-to-mold, non-conductive, flexible, among others is gaining popularity, hence accelerating the market growth. Some of the major polymers used in injection molding are polypropylene, low-density polyethylene, high-density polyethylene, polycarbonate, polystyrene, polyvinyl chloride, polyurethane, and others. The environmental concern associated with the degradation of these polymers is the major challenge that may hamper the adoption of these products in plastic manufacturing industries.
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Moreover, the innovations in technologies such as injection molding with pressurized gas assistance, structural foam, thin-wall injection molding, and multi-component methods for better designing of products to reduce cost and waste material will create lucrative opportunities in the market during the forecast period. Besides, the development of engineered resins for making IMP a standard option for making better plastic designs may also bring new opportunities to the market. furthermore, the high cost of IMP and the presence of alternatives such as blow molding are the factors that may restrain the market growth during the forecast period.
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Global IMP Market Segmentation
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)
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
