Injection Molded Plastics Market to Reach USD 476.46 Billion by 2028; Toshiba Corporation Expands U.S Division of Toshiba Machine Set to Strengthen Position

The global injection molded plastics market size was USD 343.23 billion in 2020. The market is projected to grow from USD 357.34 billion in 2021 to USD 476.46 billion in 2028 at a CAGR of 4.2% during the 2021-2028 period.

This information is published by Fortune Business Insights™, in its report titled, “Injection Molded Plastics Market Size, Share & COVID-19 Impact Analysis, By Resin Polypropylene (PP), Acrylonitrile butadiene styrene (ABS), High-density polyethylene (HDPE), Polystyrene (PS), and Others), By Application (Automotive, Packaging, Building & Construction, Electrical & Electronics, Medical, and Others), and Regional Forecast, 2021-2028.”

According to our researchers, chief players functioning in the market are concentrating on installing novel manufacturing plants in order to fulfill the surging demand in domestic as well as global markets. For example, in 2020, HTI Plastics introduced a novel 60-Ton Sodick injection molding press. With the presentation of the Sodick press, and other bigger press likely to be introduced via online platforms in the upcoming future, HTI Plastics currently owns 33 injection molding machines varying in weight from 30 to 1,800 tons.

Such new developments and launches are expected to bolster the demand for injection molded plastics in the market during the mentioned timeframe.

COVID-19 Impact: Diminishing Automotive Sales Set to Hinder Market Growth

The market is anticipated to exhibit moderate growth on account of the surging demand from hospitals and clinic applications and in packaging, while their demand has been documented to be reduced dramatically for usage in various industries and sectors such as automobile, construction & building, and electronics & electrical, among others. The automotive industry is projected to influence adversely owing to the presently fluctuating government protocols and then the abrupt decline in demand for vehicles during the coronavirus circumstance.

Avient Launches Medical-Grade TPEs Articulated Without Animal By-products

Avient Corp., previously known as PolyOne, which is a material provider, has made an addition of eight novel rankings to its healthcare collection of Versaflex thermoplastic elastomers (TPEs). Moreover, the injection-moldable Versaflex HC 3810 collection is articulated without animal by-products and provides a series of the durometer to assist a selection of medical gadgets applications.

The novel forte Versaflex grades are translucent and provide outstanding colorability, and are commercially obtainable in North America. They are appropriate for overmolding on polypropylene.

The uses for the 20 to 50 shore A-grades comprise ergonomic grasps, stress release constituents, handles, seals, and gaskets. Grades in the 60 to 90 shore A-durometer series can be utilized for IV connector caps, endoscopic caps, diagnostic testing apparatuses and various parallel applications.

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https://www.fortunebusinessinsights.com/injection-molded-plastics-market-101970

Increasing Demand from Packing Usage to Power Market Growth

Injection molded plastics are expansively executed in packaging uses, specifically in food packaging, as they refrain from reacting with food as well as keep it safe. The most general usage of these products is caps, containers, closures, and bottles, among many more.

An injection molded plastic bottle’s packaging is transparent and leak-proof and therefore preserves food and helps to keep it fresh for a longer period. These plastics are also refillable, washable, as well as re-heatable in the microwave, and hence have an augmented demand amid people.

Chief Players Focus on Inventing Products to Gain Lucrative Prospects

Prominent players in this market highlight their competencies by structuring, modernizing, developing, and introducing novel products using advanced technologies. The extremely competitive situation invented by important companies is also elevating novel market contributors to innovate, thus complementing the latent global plastics market growth in this course.

Industry Development

• September 2019: Toshiba Corporation, which is an expanded product producer and service supplier situated in Japan, is extending its assembly competencies in the U.S. Injection Molding Division of Toshiba Machine.

List of Key Players Covered in the Report

• BASF SE (Germany)


• Dow Inc. (U.S)


• DuPont (U.S)


• HTI Plastics (U.S)


• LyondellBasell (Netherlands)


• Coastal Plastic Molding, Inc. (U.S.)


• Huntsman Corporation. (U.S.)


• Magna International Inc. (Canada)

Further Report Findings

• The packaging segment held the largest share in this market. This segment is driven by food & beverages, pharmaceutical, and retail applications.


• Asia Pacific is anticipated to attain a prominent global injection molded plastics market share during the forecast period owing to the rising demand for these plastics from the packaging and automotive industries.

Table of Segmentation