According to the business intelligence report titled ‘Injection Molded Plastics Market Size, Share and Industry Analysis Report by Raw Material (Polystyrene, HDPE, ABS, Polypropylene) and Application (Building & Construction, Automotive, Consumables & Electronics, Packaging), Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2021- 2027’, available with MarketStudyReport, the injection molded plastics market is likely to record a robust growth rate through 2027. 

Decisive findings by experts claim that worldwide packaging industry expansion is the primary factor augmenting the growth of the injection molded plastics market.

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For the uninitiated, plastic injection molding is a manufacturing technique wherein molten plastic materials are injected into a mold to form the end product. This process is a common occurrence in large scale production of identical products. Thermoplastic polymers are the most utilized raw materials in this process, however, several other materials like glasses, elastomers and metals can also be used.

Despite the positive industry outlook, volatility in pricing structures of raw materials and stringent environmental regulations may hinder market growth in the forthcoming years.

Moving on to raw material segmentation, injection molded plastics industry from the others sub-segment, comprising of polycarbonate, PVC, LDPE and nylon 66, is expected to record a CAGR of approximately 4% through the forecast timeline. High flexibility, good processability, low melting temperature, optimal transparency, and high melting strength are the key characteristics encouraging the use of these materials.

With regards to the application spectrum, the others sub-segment, including toys, bottling, and wiring, surpassed USD 30 billion in 2020 is anticipated to grow at a steady pace of 4.5% through the study period.

From a regional standpoint, North America market amassed a valuation of USD 70 billion in 2020 and is estimated to record a stable growth rate through the assessment timeframe, accredited to proliferation in building and construction activities combined with advancements in the food packaging industry.

The competitive framework of the worldwide injections molded plastics market is majorly influenced by prominent players such as Rubbermaid Commercial Products, LyondellBasell Industries N.V., Saudi Basic industries Corporation (SABIC), Huntsman Corporation, DuPont de Nemours Inc., Dow Chemical Company, BASF SE, Becton Dickinson & Company, IAC Group, Berry Global Inc., Magna International Inc., Ineos Group Ltd., Eastman Chemicals Corp., and Exxon Mobil Corporation.