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Molded Plastic Market

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<strong>Molded</strong> <strong>Plastic</strong> <strong>Market</strong> - Global Industry<br />

Insights, Trends, Outlook, and<br />

Opportunity Analysis, 2016–2024<br />

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REPORT<br />

DESCRIPTION<br />

Global <strong>Molded</strong> <strong>Plastic</strong> <strong>Market</strong>-Insight<br />

<strong>Molded</strong> plastics are the type of polymers, which can be molded into any size and<br />

shape for the use in commercial applications. The use of pigments and other<br />

additives enhances the quality of the molded plastics. <strong>Molded</strong> plastics are used in<br />

various end-use industries, owing to the characteristics, such as durability,<br />

lightweight, and high chemical resistance. The automobile industry uses molded<br />

plastic for manufacturing of air flow ducts, engine cover, wheel wells, car fascia,<br />

grilles, bumpers, and other components.<br />

The rapid growth in the construction, automotive and packaging industry is expected<br />

to fuel the growth of molded plastics market globally. According to the Organization<br />

Internationale des Constructeurs Automobiles (OICA), the automotive industry has<br />

seen a growth of 4.5% from 2015-2016. The rise in the demand for environment<br />

sustainable and low carbon emitting vehicles has increased the use of molded<br />

plastics in manufacturing of automobiles.<br />

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REPORT<br />

DESCRIPTION<br />

In terms of revenue, Asia Pacific is anticipated to be the largest and fastest growing<br />

region for molded plastic market witnessing the highest CAGR of 6.7% during the<br />

forecast period. The growth of various end-use industries such as packaging,<br />

construction, and automobile has surged the demand for molded plastic.<br />

Furthermore, growing population and increasing disposable income of the<br />

consumers in the emerging economies such as China and India, are major factors<br />

responsible for the growth of the molded plastic market in Asia Pacific. In addition,<br />

the growth in the electrical and electronic industry in the region is also surging the<br />

market positively.<br />

The Indian electronic market is expected to reach US$ 400 billion during the<br />

forecast years, mainly due to the setting up of Electronic Hardware Technology<br />

parks (EHTP) in the Special Economic Zones that has brought about more Foreign<br />

Direct Investments. Government has also initiated the MSIPS (modified special<br />

incentive package) under which US$ 1.7 billion will be offered to the electronic<br />

sector in 2017.<br />

Request Sample Copy of This Report:<br />

https://www.coherentmarketinsights.com/insight/request-sample/908<br />

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REPORT<br />

DESCRIPTION<br />

The New Building Canada Fund has committed US$ 10 billion over a 10 year period<br />

i.e. 2014-24 to build public infrastructure in Canada. 9 US$ in the National and<br />

regional projects and 1 US$ in small population fund.<br />

The Middle East and Africa is expected to have a steady growth in the molded plastic<br />

market, owing to the increase in the building and construction in the regions. The<br />

Middle East has seen a growth in construction with Qatar and Saudi Arabia, which is<br />

major driver for the growth of molded plastic market. This is primarily due to<br />

upcoming FIFA World Cup 2022 in Qatar, which is likely to bring millions of people to<br />

the country. Construction of stadia, hotels, malls, and public infrastructure is driving<br />

the growth of molded plastic market. Moreover, the recent Africa Construction<br />

Summit 2017 will also act as a positive impact in the global molded plastic market.<br />

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://www.coherentmarketinsights.com/insight/request-customization/908<br />

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