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 />
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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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