The global market for plastic injection moulding is projected to post compound annual growth rate (CAGR) of 5.4% to reach US$157.7 billion by 2025, up from from US$121.4 billion in 2020, according to a report by ResearchAndMarkets.com. The report, "Injection Molding: Global Markets and Technologies 2020-2025" states that plastics injection moulding continues to dominate the plastic processing sector providing products for daily use such as kitchenware, toys and packaging, among other end-use industries.
The report also expects that with the recovery of major world economies, in the post-COVID phase, this year, moulders are gradually moving towards the attainment of pre-COVID performance standards. However, demand for plastic resins is soaring, with massive demand in the global market. In the current phase, partnership with trusted experts is likely to promote growth. Market players are increasingly investing in the acquisition of new machinery and equipment and focusing on hiring skilled workers to cater to growing demand, especially in the medical sector.
Rapid globalisation, growing consumerism and rapid technological advancement have brought a plethora of opportunities for the market players, globally. The industry is consistently engaged in conducting extensive (R&D) activities to develop innovative and efficient materials. Moreover, a rise in realization, achievement of economies of scale and operational efficiency will continue to aid market players in achieving desired performance targets.
Copyright (c) Ringier Trade.com. Copyright (c) Ringier Trade Media Ltd. (c) 2021.
All rights reserved. Reproduction in whole or part in any form or medium without express written permission is not allowed.
Ringier Trade .com (c) Ringier Trade Media Ltd., accept no responsibility or liability for any information provided by any third party on this website.