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Molded Plastic Market


REPORT DESCRIPTION Global Molded Plastic Market-Insight Molded plastics are the type of polymers, which can be molded into any size and shape for the use in commercial applications. The use of pigments and other additives enhances the quality of the molded plastics. Molded plastics are used in various end-use industries, owing to the characteristics, such as durability, lightweight, and high chemical resistance. The automobile industry uses molded plastic for manufacturing of air flow ducts, engine cover, wheel wells, car fascia, grilles, bumpers, and other components. The rapid growth in the construction, automotive and packaging industry is expected to fuel the growth of molded plastics market globally. According to the Organization Internationale des Constructeurs Automobiles (OICA), the automotive industry has seen a growth of 4.5% from 2015-2016. The rise in the demand for environment sustainable and low carbon emitting vehicles has increased the use of molded plastics in manufacturing of automobiles. © Coherent market Insights. All Rights Reserved

REPORT DESCRIPTION In terms of revenue, Asia Pacific is anticipated to be the largest and fastest growing region for molded plastic market witnessing the highest CAGR of 6.7% during the forecast period. The growth of various end-use industries such as packaging, construction, and automobile has surged the demand for molded plastic. Furthermore, growing population and increasing disposable income of the consumers in the emerging economies such as China and India, are major factors responsible for the growth of the molded plastic market in Asia Pacific. In addition, the growth in the electrical and electronic industry in the region is also surging the market positively. The Indian electronic market is expected to reach US$ 400 billion during the forecast years, mainly due to the setting up of Electronic Hardware Technology parks (EHTP) in the Special Economic Zones that has brought about more Foreign Direct Investments. Government has also initiated the MSIPS (modified special incentive package) under which US$ 1.7 billion will be offered to the electronic sector in 2017. Request Sample Copy of This Report: © Coherent market Insights. All Rights Reserved

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