Injection Molded Plastics Expanding Globally
A new market report by the Transparency Market Research group has shown that the demand for injection molding plastic processes and products is higher than ever and will continue to grow into the future. In 2010, the number of injection molded plastic products manufactured in the world was about 79,079.5 kilo tons. The market research group expects the number of injection molded plastic parts to be manufactured in the year 2018 to reach around 116,171.4 kilo tons. This indicates a growth rate of about 5 percent each year from 2010 to 2018. In 2012, the entire injection molding plastic industry is worth about 168 billion dollars, while it is expected to be worth over 250 billion dollars by 2018. This figure was predicted by the expected increase in demand just over five percent each year between 2012 and 2018.
Much of this demand for more plastic products is due to the worldwide increase in demand for personal care products and plastic house ware products. The main plastic used for these products is polypropylene, which is one of the main plastics used to manufacture injection molded plastics. Other demands for increased plastic packaging is also causing the demand for injection plastics to go up.
This may seem like surprising news in a world that is recently environmentally conscious and trying to reduce its plastic use, but most environmental actions are located in Europe and the United States. Regions like China and the Asia Pacific market are just now reaching a demand level for plastic products that Europe and the United States saw several decades ago.
Currently, the biggest demand for injection molded plastic products include packaging, with a demand of about 32 percent and consumable products and electronics, with a demand of about 30 percent. All the other uses for the plastic, including personal care items make up the other 40 percent of plastic use.