Allied Market Research adds “Molded Plastics Market” new report to its research database. The report provides a comprehensive analysis of current & future trends and emerging avenues for the growth of this market globally.
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.
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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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