INJECTION MOLDED PLASTICS MARKET ANALYSIS
The global injection molded plastics market is projected to reach around US$ 459.0 Million by the end of 2030, in terms of revenue, growing at CAGR of 5.5% during the forecast period (2023-2030).
Market Trends
Polypropylene material is gaining traction across automotive components, household goods, and packaging applications. It is mainly used in electrical connector covers and bases in order to provide electrical and mechanical support as it has superior electrical insulation properties. Thus, the growing popularity of polypropylene material is projected to augment the market growth of the injection molded plastics over the forecast period.
Growing demand for a lightweight vehicle for fuel efficiency is expected to foster the market growth of the injection molded plastics. Thus, the growth of the injection molded plastics market is also attributed to the rising adoption of the advanced plastic across the automotive industry.
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