Molded plastics are the plastics which can be molded depending on its applications. These molded plastics can be modified by adding pigments to its polymers. Molded plastics have a wide range of application in packaging, construction, industrial machinery and automobiles. Molded plastics have cost competitive techniques that yield efficient products and enhance the durability of the products.
The factors that are driving the growth of the molded plastics are increased practice of plastics in the household care products, rapid growth of plastic components in mobile phone and raised consumption of plastics in automotives. However, fluctuating prices of crude oil and government regulations regarding environmental concerns are hampering the growth of the market. Increasing practice of plastics pipes in constructing gas and new oil transmission lines is creating opportunities for the growth of the market.
Molded Plastics Market Analysis by Product
Molded plastics product market is segmented into molded polyvinyl chloride, molded polypropylene, molded polystyrene, molded polyethylene and others (abs, pu, etc). Molded polyethylene is the largest revenue generating segment due to its wide range of applications in automotive industry. In automotive industry, molded polyethylene is used in creating automotive dashboard, bottle caps, some musical instrument, wire spools, storage containers, one-piece chairs, mechanical parts, etc.
Molded Plastics Market Analysis by Application
Molded plastics application market is segmented into building & construction, automotive & transportation, consumable & electronics, packaging and others (stationery, clothing, etc). Automotive & transportation is the largest revenue generating segment due to increasing adoption of molded plastics in automotive & transportation sector.
Molded Plastics Market Analysis by Geography Geographically, market is segmented into North America, Europe, Asia Pacific and LAMEA. Asia Pacific followed by North America is the largest revenue-generating segment due to its increasing adoption of molded plastics in the automotive industry. Asia Pacific possesses nearly half of the market share in the molded plastics manufacturers market.
The key strategies adopted by the companies to expand in the molded plastics market are product launch, mergers & acquisitions and agreements & collaborations. These strategies would help in gaining competitive advantages and expansion of the market. The companies profiled in this report are BASF, Huntsman International LLC, Eastman Chemical Company, Chevron Philips Chemical Company, Reliance Industries Limited, INEOS Group AG, SABIC, and LyondellBasell Industries NV.
High Level Analysis
The report analyzes various macro environments of the molded plastics market using porter’s analysis. According to porter’s analysis, the bargaining power of the supplier is high due to high cost of switching. The bargaining power of buyer is low due to the specialized products of molded plastics market. Moreover, brand loyalty is insignificant due to which intensity of rivalry is high. The threat of substitute is low due to unavailability of alternate products. In addition, threat of new entrants is high due to low investment.
Molded plastics market is segmented based on product, applications and geographies.
KEY MARKET SEGMENTS
MARKET BY PRODUCT
MARKET BY APPLICATION
MARKET BY GEOGRAPHY
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