Press release
Molded Plastics Market: New Investment Opportunities Emerge To Augment Segments in Advanced Materials Sector By 2023
The global molded plastics market is segmented based on product, technology, application, and geography. Based on product, the market is divided into polyvinyl chloride, polypropylene, polystyrene, low density polyethylene, high density polyethylene, polyethylene terephthalate, and engineering plastics. Based on technology, the market is segmented into injection molding, blow molding, extrusion, and others. The application areas of the industry are building & construction, automotive, electrical & electronics, packaging, and others. The market is analyzed based on region into North America, Europe, Asia-Pacific, and LAMEA.
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Molded plastics are synthetically produced from non-metallic compounds, which can be molded into various shapes for commercial applications. These are highly versatile, efficient, and malleable, and can be hardened to achieve the desired consistency. These molded plastics can be modified by adding pigments to their polymers. Polyvinyl chloride, polypropylene, polystyrene, polyethylene, and others are some of the compounds that can be used as molded plastics in building & construction, automotive & transportation, consumable & electronics, packaging, medical, and other applications.
Stringent government regulations to reduce CO2 emissions have led to increase in the consumption of lightweight materials such as molded plastics in the automobile industry. Rapid economic growth and rise in disposable income have increased the consumption of consumer electronics such as smartphones, tablets, laptops, computers, and TVs in the emerging economies such as India and China. The consumer electronics industry is expected to grow, particularly in the Asia-Pacific region, owing to extensive use of molded plastics. This in turn is expected to drive the demand for molded plastics.
Polypropylene was the leading product segment in the global market in 2016, owing to its wide range of applications in the packaging and the automotive industry. Polypropylene is used for packaging of various industrial and consumer goods, owing to its flexibility, strength, and high resistance to chemicals, bases, and acids. In the automotive industry, it is used in automotive dashboards, front bumpers, rear bumpers, bottle caps, music systems, wire spools, storage containers, one-piece chairs, seat panels, mechanical parts, and other components. However, the market is affected by factors such as volatile prices of raw materials prices such as ethylene and propylene.
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Asia-Pacific and LAMEA collectively contributed about three-fifths share of the global market by revenue in 2016. LAMEA accounted for approximately one-tenth share of the global molded plastics market in 2016. According to the Automotive Industry Export Council, the South African automotive industry contributed 7.2% to the GDP of the country in 2014. In 2014, South Africa exported automobiles to 148 countries, resulting in export earnings of $6 billion by vehicles and $3.9 billion by components. Thus, heavy inflow of investment, vertical integration, and strong component sector of the automotive industry are projected to fuel the growth of the molded plastics market during the forecast period.
The key players operating in the global molded plastics market are
• BASF SE,
• Chevron Philips Chemical Company,
• Eastman Chemical Company,
• E. I. du Pont de Nemours and Company,
• Exxon Mobil Corporation,
• Huntsman Corporation,
• INEOS Group AG,
• Lyondell Basell Industries N.V.,
• Reliance Industries Limited, and
• SABIC.
Table Of Content
Chapter: 1. INTRODUCTION
1.1. REPORT DESCRIPTION
1.2. KEY BENEFITS
1.3. KEY MARKET SEGMENT
1.4. RESEARCH METHODOLOGY
1.4.1. Secondary Research
1.4.2. Primary Research
1.4.3. Analyst Tool & Model
Chapter: 2. EXECUTIVE SUMMARY
2.1. MARKET SNAPSHOT
2.2. CXO PERSPECTIVES
Chapter: 3. MARKET OVERVIEW
3.1. MARKET DEFINITION AND SCOPE
3.2. KEY FINDINGS
3.2.1. Top Investment Pockets
3.2.2. Top winning strategies
3.3. PORTERS FIVE FORCES ANALYSIS
3.4. MARKET DYNAMICS
3.4.1. Drivers
3.4.1.1. Increased use of lightweight materials in automobiles
3.4.1.2. Rise in construction activities in emerging economies
3.4.1.3. Rapid consumption of fast moving consumer goods (FMCG) in emerging economies
3.4.2. Restraints
3.4.2.1. Volatile nature of raw material prices
3.4.2.2. Stringent environmental regulations
3.4.3. Opportunities
3.4.3.1. Growing application of molded plastics in medical industry
3.5. MARKET SHARE ANALYSIS, 2016 (%)
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