Increasing demand from Houseware and Personal Care sectors to drive global injection molded plastics market

10-Oct-14

Injection molded plastics provide the benefits of flexible designing and low cost of mass production. It is used in various industries including Automotive, Packaging, and Consumer Goods, among others. Because of their light weight, injection molded plastics are increasingly being used to replace metals in various industrial applications. As per ResearchandMarkets, increasing demand from the Houseware and Personal Care sectors is one of the major trends in the market. Design flexibility and the low cost of injection molded plastics are expected to augment the demand from these sectors. According to the report, increased application in the automobile industry is one of the major drivers in the market. Injection molded plastics are used extensively in the automobile industry for manufacturing various auto ancillaries, including dashboards and door handles. With the increased emphasis on highly efficient lightweight automobiles, injection molded plastics are expected to replace metal components because of their light weight. Further, the report states that volatility in the prices of raw materials is the major challenge hindering the growth of this market. The cost of manufacturing injection molded plastics is high as the raw materials used in their manufacturing are high-priced crude oil-based petrochemicals, making it difficult for manufacturers to maintain profitability.