Market Segmentation
The global molded plastics market
has been segmented by material, technology, application, and region.
Based on 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
·
BASF SE
·
Harwal Group of Companies
·
DuPont
·
HTI Plastics
·
Eastman Chemical Company
·
INEOS
·
LyondellBasell Industries Holdings BV
·
Reliance Industries Limited
·
SABIC
·
Exxon Mobil Corporation
·
Magna International Inc.
·
Takween Advanced Industries
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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