The molded plastics industry has experienced a steady growth over the past decade. In 2020, the global molded plastics market size was valued at USD 488.08 billion and is expected to reach a value of USD 678.32 billion by 2027. This growth is attributed to the increasing demand for molded plastics from several industries, including automotive, construction, medical, and consumer goods, among others. Additionally, the rising adoption of 3D printing, the development of bioplastics, and the increasing use of recycled plastics are some of the major factors driving the growth of the molded plastics industry. Furthermore, the emergence of innovative products and the increasing focus on sustainable packaging solutions are expected to further bolster the market growth during the forecast period.
Molded plastics are an important part of the manufacturing industry today. They are used to make everything from car parts to medical devices, and are a key part of the global economy. There are many different types of molded plastics and they each have their own unique characteristics. In this blog, we will explore the different types of molded plastics, the processes used to create them, and the industry trends that are impacting the market.
Thermoplastic is the most common type of molded plastic. It is a polymer that can be melted and reshaped multiple times. It is lightweight and durable, making it ideal for use in many applications. It is also relatively inexpensive and easy to work with, making it a popular choice for manufacturers.
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Trends on Molded Plastics Business
- Increase in Demand for Sustainable Plastics: The demand for sustainable plastics has grown significantly in recent years, as companies and consumers seek to reduce their environmental impact.
- Innovations in Automation Technology: Advances in automation technology are making it easier for companies to produce molded plastics with greater efficiency and accuracy.
- Expansion of Customization Options: Companies are offering more customization options for clients, allowing them to create unique products that meet specific needs.
- Growth of 3D Printing: 3D printing has become increasingly popular in the production of molded plastics, allowing for greater flexibility and cost savings.
- Emergence of Bioplastics: Bioplastics are becoming increasingly popular as a sustainable and renewable alternative to traditional plastics.
Injection-molded plastic is the second most popular type of molded plastic. It is created by injecting molten plastic into a mold. The plastic is then cooled and hardens into the desired shape. Injection-molded plastic is strong and durable, and can be used to create complex shapes.