The global market for injection molded plastics is expected to reach USD 277.78 billion by 2020, according to a new study by Grand View Research, Inc. Increasing demand for plastic as a packaging material coupled with the growing packaging industry in Asia is expected to be a key factor driving market demand over the next six years. In addition, the growing need for weight reduction in automobiles is also expected to augment the demand for plastics as a substitute to metal which in turn is expected to increase the demand for injection molded ABS and polypropylene. Volatile crude oil prices coupled with growing environmental concerns is expected to be a key issue for market participants. Packaging was the largest application segment of the market, accounting for over 30,000 kilo tons of demand in 2013. Growing preference towards plastics as packaging materials owing to their light weight and better aesthetics is expected to be a key factor driving the market over the forecast period.
http://www.grandviewresearch.com/industry-analysis/injection-molded-plastics-market
No comments:
Post a Comment