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Injection Molded Plastic Market Share, Size, Analysis, Growth, Trends and Forecasts, 2024 | Hexa Research
" Projected to grow at a CAGR of almost 5% from 2016 to 2024, injection molded plastic market is expected to grow significantly by 2024."
The global Injection Molded Plastic Market was valued at around USD 199.9 billion in 2015. It is expected to grow at a CAGR of approximately 5% during the forecast period (2016 - 2024). It will reach USD 296 billion by 2024. The growth of this market can be attributed to its growing demand in medical devices, home appliances, automotive, packaging, and electrical & electronic end-uses. The molding process involves injecting molten plastic into molded products and solidifying them. The growth of this industry can be accredited to properties like heat resistance, pressure resistance, minimum wastage, and low labor cost. Prices of volatile crude oil, benzene, ethylene, propylene, and styrene can challenge market growth in the coming eight years. To overcome such challenges, the industry is trying to manufacture molded plastic using biodegradable products. The injection molded plastic market is segmented into applications, raw materials, and geographies. Browse Details of Report @ https://www.hexaresearch.com/research-report/injection-molded-plasticsindustry
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