Market Segmentation
The global molded plastics market has been segmented by
material, technology, application, and region.
On the basis of material, the market has been divided into
polypropylene, polyvinylchloride, polystyrene, polyethylene, and polyethylene
terephthalate. The polypropylene segment accounted for the largest market share
of the global molded plastics market in 2017 and is expected to grow at a
considerable rate during the review period. Polypropylene possesses various
properties such as high stiffness, heat resistance, and low density, hence, it
is widely used in low-friction applications and furniture in place of plastics such
as acetal (POM). It is also highly desired in various other industries such as
automotive, construction, and packaging. Polyvinylchloride is another prominent
type of molded plastic owing to the increasing demand for high-performance
plastics in automobiles to reduce vehicle weight and enhance fuel economy.
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Based on application, the market has been segmented into
packaging, electronics, building and construction, automotive, and others. The
packaging segment accounted for the largest market share in 2017 owing to the
growing demand for rigid packaging in household and industrial products. Also,
the increasing demand in the electronics industry in various components such as
semiconductors, switches, and capacitors is driving market growth.
Competitive Analysis
Some of the key players in the global molded
plastic market are BASF SE (Germany), Harwal Group of Companies (UAE),
DuPont (US), HTI Plastics (US), Eastman Chemical Company (US), INEOS (UK),
LyondellBasell Industries Holdings BV (Netherlands), Reliance Industries Limited
(India), SABIC (Saudi Arabia), Exxon Mobil Corporation (US), Magna
International Inc. (Canada), and Takween Advanced Industries (Saudi Arabia).
Regional Analysis
Based on region, the molded plastic market has been
segregated into North America, Europe, Asia-Pacific, Latin America, and the
Middle East & Africa.
The market in Asia-Pacific accounted for the largest share
in 2017 due to the growing industries such as automotive, aerospace and
defense, and electrical and electronics in developing economies such as India,
China, and Thailand. Free trade agreements between countries such as India and
China are likely to further drive market growth during the review period.
The market in North America is also expected to grow at a
considerable rate during the review period on account of the reviving
automotive, electronics, Europe is another prominent market for molded
plastic owing to the increasing demand in the aerospace and defense industry
with the rising increasing production of aircraft.
The markets in Latin America and the Middle East &
Africa are likely to register substantial growth during the review period as a
result of the growing automotive and construction industries in these regions.
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