The global sales of injection molded plastic are estimated to be worth USD 146.0 billion in 2024 and are anticipated to reach a value of USD 211.0 billion by 2034. Sales are projected to rise at a CAGR of 3.7% over the forecast period between 2024 and 2034. The revenue generated by injection molded plastic in 2023 was USD 140.6 billion.
Automotive applications that include interior components, exterior components and design components are expected to gain more than 26% of the total market share in the application segment during the assessment period.
In the automotive industry, injection molded plastics find significant applications because of their light weight, durability, and capability to withstand very tough conditions. They make the process of manufacturing very cost-effective, flexible designs possible, and provide the scope of vehicle weight reduction, further resulting in better fuel efficiency with fewer emissions.
Global Injection Molded Plastic Industry Assessment
| Attributes | Key Insights |
|---|---|
| Historical Size, 2023 | USD 140.6 billion |
| Estimated Size, 2024 | USD 146.0 billion |
| Projected Size, 2034 | USD 211.0 billion |
| Value-based CAGR (2024 to 2034) | 3.7% |
Injection molded plastics made from polypropylene (PP) will reach a market value of USD 38.2 billion in 2024 and are expected to grow to USD 53.6 billion by the end of 2034. It is because polypropylene presents products with the required ruggedness and chemical resistance, which can be offered in a relatively low cost compared with other materials.
It also has high tensile strength, flexibility, and resistance to moisture, which makes it suitable for automotive, packaging, and consumer goods industries that focus much on performance as well as cost efficiency.
The injection molded plastics market is likely to have profitable growth during the forecast period. The market is estimated to have an incremental opportunity of USD 70.4 billion and is likely to increase 1.5 times from its current value through 2034.
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
Rising Demand for Lightweight Injection Molded Plastics in Automotive
Lightweight injection molded plastics have gradually taken the place of metal elements in the automobile industry, improving the performance of a vehicle. This lightens the entire weight of a vehicle, hence facilitating better fuel efficiency, and even reduces the release of the greenhouse gases emitted from them; they meet even stringent norms of environment such as Euro 7 and CAFE standards.
Polypropylene, ABS, and polycarbonate are used in applications such as dashboards, bumpers, interior trims, and under-the-hood components. Their versatility, corrosion resistance, and cost-effectiveness allow them to be used for very complex designs that can be produced competitively.
The number of applications adds to the demand even more with the advent of electric vehicles; lighter components are now required to increase battery life and range. Advanced technologies such as fiber-reinforced plastics add structural strength while keeping the weight advantages, thus making injection-molded plastics crucial in today's automotive innovation and sustainability activities.
Technological Innovations Enhance Efficiency and Precision across Industries
Technological innovations in injection molding, like micro-injection molding and multi-component molding, have offered numerous advantages in several end-use industries. Micro-injection molding allows for the accurate reproduction of tiny, complex geometrical parts that can be indispensable in the electronics industry concerning miniaturization and very high precision.
It enables the production of intricate components with tight tolerances in medical devices, which improves functionality and reduces production costs. Multi-component molding benefits the automotive industry by lightening components, making them durable and aesthetically pleasing while reducing assembly time and material costs.
This technology will allow consumer goods to have more part consolidation - combining materials into a single part, thereby increasing design freedom and greater product functionality.
It will also reduce the waste in packaging and consumer electronics through the simultaneous molding of more than one material. Due to these advantages, the demand for injection-molded plastic is expected to increase over the coming years.
Limited Availability of High-Performance Resins May Hinder Growth
The limited availability of high-performance resins is a significant challenge to the development of the global injection molding market.
Materials like medical polyetheretherketone (PEEK), polyimide (PI), and liquid crystal polymers (LCPs) are of utmost importance in industries demanding advanced properties, such as in aerospace, automotive, and medical devices, but they are manufactured only in small quantities because complex manufacturing processes, high manufacturing costs, and strict demands for quality control make them non-viable for mass manufacture.
This scarcity may cause disruption in the supply chain, delay production, and additional costs, hence making a few projects economically impossible. Consequently, this would force a company to utilize less performing materials and thus reduces the quality and performance levels of their products.
This could limit the market capability to serve ever-growing demands for specialized high-performance parts in various industries.
The global injection molded plastic industry recorded a CAGR of 5.0% during the historical period between 2019 and 2023. The growth of the injection molded plastic industry was positive as it reached a value of USD 140.6 billion in 2023 from USD 121.3 billion in 2019.
Global sales of injection molded plastics have registered growth in the last years because of an increased demand from several end-use industries such as automotive, packaging, and consumer goods.
Additionally, the new solutions in the field that are lightweight and environmentally friendly have stimulated technology improvement that enhances production efficiency, hence raising sales.
During the assessment period, injection molded plastics demand is expected to pick up the pace with innovation in material and manufacturing processes. It will be driven by applications in electric vehicles, medical devices, and packaging and will focus on sustainable high-performance plastics and more complex multifunctional parts.
Principal Consultant
Tier 1 company leaders are characterized by high production capacity and a wide product portfolio. These market leaders are distinguished by their extensive expertise in manufacturing and reconditioning across multiple packaging formats and a broad geographical reach, underpinned by a robust consumer base.
They provide a wide range of series including reconditioning, recycling, and manufacturing utilizing the latest technology and meeting the regulatory standards providing the highest quality. Prominent companies within Tier 1 include Brambles Ltd. and Silgan Holding Inc.
Tier 2 companies are characterized by a strong presence overseas and strong market knowledge. These market players have good technology and ensure regulatory compliance but may not have advanced technology and wide global reach.
Prominent companies in Tier 2 include Berry Global Inc., AptarGroup, Inc., ALPLA, Amcor plc., BERICAP, Nipro Corporation, Gerresheimer AG, Sonoco Products Company, Pact Group Holdings Ltd, Trimas Corporation, Magna International Inc., Supreme Industies and few more.
Tier 3 includes the majority of small-scale companies operating at the local presence and serving niche markets. These companies are notably oriented towards fulfilling local market demands and are consequently classified within the tier 3 share segment.
They are small-scale players and have limited geographical reach. Tier 3, within this context, is recognized as an unorganized market, denoting a sector characterized by a lack of extensive structure and formalization when compared to organized competitors.
The section below covers the industry analysis of the injection molded plastic market for different countries. Market demand analysis on key countries in several regions of the globe, including North America, Asia Pacific, Europe, and others, is provided.
Canada is anticipated to remain at the forefront in North America, with a CAGR of 3.8% through 2034. In Europe, Spain is projected to witness a CAGR of 3.9% by 2034.
| Countries | Value CAGR (2024 to 2034) |
|---|---|
| USA | 2.9% |
| Germany | 2.0% |
| China | 4.7% |
| UK | 2.3% |
| Spain | 3.9% |
| India | 6.0% |
| Canada | 3.8% |
Injection molded plastic market in China is expected to grow at a CAGR of 4.7% and reach a valuation of USD 32.6 billion over the forecast period.
The rise in sales of electric vehicles will increase demand for injection-molded plastics due to the components requirements from automotive producers that demand strength and lightness in components for electric and hybrid cars. Interior panels, car battery housings, and body trims use plastics in equipment that increase efficiency within the vehicle.
Since China holds the highest market share for EVs, increasing adoption will require economical means of the complex, high-performance parts injection molded plastics.
One-third of total EV sales accounted for the PHEV in China by the International Energy Agency in 2023, transitioning toward electric and hybrid that's likely to favorably boost injection molding plastics consumption in the automotive industry.
The food and beverage industry in the USA is creating high potential opportunities for the injection molded plastic market because the food and beverage industry demands all kinds of packaging solutions. The injection molded plastics market in the USA will grow at a CAGR of 2.9% until 2034.
One of the strong drivers in the injection molded plastic market in the USA is the increase in need for efficient food packaging. By injection molding it is possible to manufacture robust, hygienic containers that can be customized into dimensioned designs assuring protection as well as freshness of products.
Injection molding thus enables efficient, high-volume production of containers-like cups, trays, and lids, with minimum material waste, thereby reducing the total costs for production.
Consequently, they allow design flexibility for complex shapes and features for attractiveness, which is quite necessary for modern food packaging as consumer demand for safer, more efficient consumption grows. Over the next few years, demand for injection-molded plastics for packaging applications will gain impetus demand.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
The section contains information about the leading segments in the industry. Polypropylene (PP) materials segment is estimated to account for a market share of 25.3% 2034. In terms of application, automotive industry is expected to capture for 26.1% market share till 2034.
| Material | Polypropylene (PP) |
|---|---|
| CAGR (2034) | 3.4% |
The injection molded plastics made of polypropylene are projected to offer an incremental opportunity of USD 16.7 billion and are expected to grow at a CAGR of 3.4% during the assessment period.
Injection molded plastics are much preferred to polypropylene (PP) because of their combination of superior properties with cost-effectiveness. PP offers high chemical resistance, so it's possible to include it in packaging, automotive, and even the medical sector.
It is light but very strong since strength is not added as weight, which is beneficial in components such as automotive and consumer goods. The properties of PP provide excellent flexibility and impact resistance so that it would perform well in both rigid and flexible applications.
Its recyclability and lower environmental footprint further enhance its appeal in markets focused on sustainability. These factors cumulatively make polypropylene the favored material in the injection molded plastics market.
| Application | Automotive |
|---|---|
| CAGR (2034) | 3.3% |
Among applications, the automotive applications to reach a market valuation of USD 39.7 billion in 2024 and is predicted to gain an incremental expansion of 1.4 times the total market value.
Injection-molded plastics are very important for the automobile industry because they are lightweight, very rigid and also, very economical. Injection molding is mainly used to reduce the weight of the automobile in turn affecting the fuel efficiency or the emission levels, thus contributing towards sustainability on a worldwide scale.
In addition to this, it allows the production of very complex shapes and different parts such as dashboards, bumpers, door panels, and several interior trim components. They are very resistant to heat, chemicals, and impact, making them reliable under any conditions.
Injection molding also allows the creation of high-volume parts with minimal waste, aligning with the industry requirements of scalability and efficiency, whereas innovations such as reinforced plastics enhance strength and performance with applications in electric and autonomous vehicles.
Key players operating in the injection molded plastic market are investing in the development of new custom products and are also entering into partnerships. Key injection molded plastic providers have also been acquiring smaller players to grow their presence to further penetrate the injection molded plastic market across multiple regions.
Recent Industry Developments in the Injection Molded Plastic Market
In terms of material, the injection molded plastic industry is divided into polypropylene (PE), polyethylene (PE), and acrylonitrile butadiene styrene (ABS), polystyrene (PS), polycarbonate (PC), polyvinyl chloride (PVC) and others (nylon, TPE, TPU, etc.) Polyethylene (PE) is further sub-segmented into HDPE, LDPE and LLDPE.
In terms of application, the injection molded plastic industry is segregated into automotive, food & beverage, consumer goods, healthcare & medical, electronics & electrical, building & construction, logistics & supply chain, agriculture, packaging and other industrials.
Automotive further includes interior components, exterior components and engine components. Food & beverage is sub-segmented into bottles & lids, caps & closures, jars & other containers (excluding ice-cream boxes) and ice cream boxes.
Consumer goods consists of toys, household items, personal care products excluding toothpaste neck and toothpaste neck. Healthcare & medical applications include pharmaceutical drug packaging, medical devices and surgical instruments.
Electronics and electrical is sub-categorized into housings for devices, connectors & switches and consumer electronics components. Building & construction includes pipes & fittings, insulation materials, window and doorframes.
Agriculture further includes pallets, trays and crates. Agriculture includes agricultural containers and machinery parts. Packaging is sub-segmented into bubble wrap/bubble sheet and processing add & basket.
Key countries of North America, Latin America, Europe, APAC and the Middle East & Africa (MEA) have been covered in the report.
The global injection molded plastic industry is projected to witness a CAGR of 3.7% between 2024 and 2034.
The global injection molded plastic industry stood at USD 140.6 billion in 2023.
The global injection molded plastic industry is anticipated to reach USD 211.0 billion by 2034 end.
Asia Pacific is set to record the highest CAGR of 4.7% in the assessment period.
The key players operating in the global injection molded plastic industry include Brambles Ltd. and Silgan Holding Inc.
Explore Packaging Insights
View Reports
Injection Molded Plastic Market
