Molded Plastics Market worth 475.86 Billion USD by 2023

Molded Plastics Market worth 475.86 Billion USD by 2023 The report "Molded Plastics Market by Type (PE,PP, PVC, PET, PS, PU), Application (Packaging, Automotive & Transportation, Construction & Infrastructure, Electronics & Electrical, Pharmaceutical, Agriculture), and Region - Global Forecast to 2023" The molded plastics market is estimated to be USD 352.21 Billion in 2018 and is projected to reach USD 475.86 Billion by 2023, at a CAGR of 6.2% between 2018 and 2023.

Browse 166 market data Tables and 54 Figures spread through 188 Pages and in-depth TOC on "Molded Plastics Market� https://www.marketsandmarkets.com/Market-Reports/molded-plastic-market-164176225.html The growth of the molded plastics market can be attributed to the increasing consumption of molded plastics in the packaging, automotive & transportation, construction & infrastructure, pharmaceutical, and agriculture applications. Molded plastics possess excellent stiffness and Environmental Stress Cracking Resistance (ESCR), high load melt strength, and excellent rigidity.

Packaging application segment is projected to grow at the highest CAGR between 2018 and 2023.

Based on application, the molded plastics market has been segmented into packaging, automotive & transportation, construction & infrastructure, agriculture, electronics & electrical, pharmaceutical, and others. The packaging segment is projected to be fastest-growing application segment of the molded plastics market during the forecast period. The growth of this segment can be attributed to the increasing use of molded plastics to package pharmaceutical, food & beverages, cosmetics, and industrial products such as chemicals, acids, and lubricants. Molded plastics are used to produce packaging products such as packaging films, cans, bottles, and containers. The increasing per capita expenditure on food & beverages, improved lifestyle, and changing packaging patterns are some of the factors that are expected to fuel the consumption of molded plastics in packaging. The automotive & transportation is projected to grow at the second-fastest CAGR during the forecast period. The high demand for molded plastics to produce automobile parts, such as panes and railings, bumper supports, fenders, mudguards, door locking systems, consoles, garnish pillars, cockpit systems, and fuel tanks is expected to fuel the growth of the automotive & transportation application segment.

APAC region is expected to lead the molded plastics market during the forecast period The molded plastics market has been studied for APAC, North America, Europe, South America, and the Middle East and Africa. The APAC molded plastics market is projected to be largest molded plastics market during the forecast period. The growth of the APAC molded plastics market can be attributed to the presence of leading molded plastics producers as well as plastic part and component manufacturers in the region. Moreover, the growing demand for molded plastics for packaging for

pharmaceuticals, food & beverage products, etc., in countries such as China, Japan, and India is also contributing to the growth of the Asia Pacific molded plastics market.

ExxonMobil (US), LyondellBasell (Netherlands), DowDuPont (US), SABIC (Saudi Arabia), INEOS (Switzerland), Solvay (Belgium), Formosa Plastics (Taiwan), Chevron (US), Eastman (US), China Petroleum (China), Borealis (Germany), Versalis (Italy), LG Chem (South Korea), and Reliance Industries (India) are the leading molded plastics manufacturers globally.

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