INJECTION MOLDED PLASTICS MARKET ANALYSIS

Market Challenges And Opportunities

Global Injection Molded Plastics Market: Restraints

Alternative techniques in Injection Molded Plastics:

Due to some popular alternative techniques for manufacturing plastic products like bow molding, polymer casting, extrusion, and 3D printing, such as the bow molding process operates at a lower pressure as compared to injection molding, leading to lesser production cost. One of the production process which is popular nowadays is 3D printing of plastic parts. As 3D printers require minimal tooling and setup time for designing, the cost of producing a custom part is negligible in comparison with traditional production processes. Presence of such kinds of production technologies, is thus proving to be hindrance to the growth of injection molded plastics market.

Rising environmental concern may affect the market:

An environmental concern associated with the use of plastic products is projected to hinder the market growth of injection molded plastics. Production and disposal of plastic have various environmental impacts as they are non-degradable in nature.

Moreover, high initial investment of the equipment used in the injection molded plastics is expected to hamper the market growth over the forecast period.

Market Opportunity

A sharp change in the trend of replacing steel with plastics in the automotive industry is expected to drive the growth of the demand for injection molded plastics during the forecast period. Recently, government regulations have forced automakers to use plastic instead of other materials such as iron and steel.

Automakers are focused on reducing overall vehicle weight to improve fuel efficiency, and using plastic as an alternative will increase use of plastics as a substitute for metals and alloys in automotive components is expected to increase product demand in the automotive sector and provide significant growth opportunities in the near future. For instance, in May 2021, AlphaGem Bio, a supplier of medical lab ware for liquid transfer handling, launched a polymerase chain reaction (PCR) plate made of TOPAS cyclic olefin copolymer (COC) from Poly plastics USA.