MOLDED PLASTIC MARKET ANALYSIS

Stringent environmental regulations across major economies are posing challenges for the growth of the global molded plastic market. Regulations related to plastic packaging, emissions, and waste management are becoming more and more strict in view of the environmental damage caused by plastics. This is restricting the usage and production of plastics to some extent.

Many countries have either banned or imposed levies on specific single-use plastic items like bags, plates, straws, cutlery etc. to reduce plastic waste. For example, in 2020, the European Union introduced a directive banning various single-use plastic products by 2026. Several member countries have already implemented national bans. India has also prohibited the manufacturing, import, stocking, distribution, sale and use of specific single-use plastic items which have low utility and high littler generation from July 2022 (Ministry of Environment, Forest and Climate Change, Government of India). Such bans affect the demand for various plastic resins and molding compounds that are used to make those products.

Market Opportunities: Innovation in materials and technology

Innovation in materials and technology provides huge opportunities for growth in the global molded plastic market. Plastics manufacturers are continuously developing new materials that are lighter, stronger and more durable than previous generations. Advanced polymer formulations now mimic the strength of metals and fibers like carbon, allowing plastics to be used in more demanding applications. For example, reinforced thermoplastics made from carbon-filled nylons and polyamides are replacing metals in automotive and aerospace parts due to their high strength-to-weight ratios.

New molding techniques are also driving gains by enhancing design possibilities and productivity. Plastic parts can now be molded with increased precision, incorporating finer details, more complex geometries and tighter tolerances than before. Techniques like structural foam molding and co-injection molding enable the integration of various materials and functions into single components.