India Plastic Molding Market to be Dominated by Packaging Segment Through 2028

High-level infiltration in various industry segments and Increasing automation in molding machines drive the demand for the Plastic Molding Market in the forecast period, 2023-2028.

According to TechSci Research report, “India Plastic Molding Market - By Region, Competition Forecast and Opportunities, 2018-2028", The Indian plastic molding market is anticipated to grow significantly in the projected period, 2023-2028. The Plastic molding market is expected to increase due to the clothing, housing, construction, furniture, automobiles, household items, agriculture, horticulture, irrigation, packaging, medical appliances, and electronics. According to the FCCI, it is expected that the average plastic consumption in India in 2021 will be 11kg and will reach 20 kilograms in 2020. The above data indicate the uses of plastic in India and the opportunity to increase market share due to India's growing population and economic development. Plastic is widely accepted in the market due to characteristics such as low price, durability, heat resistance, feasibility, and short time consumption in the production of the final product.

Substitute plays a vital role in the survival of the product or technology for the long term, which leads to continuous research and development. Same as above 3D printing technology have all the necessary advancement over plastic molding, which is expected to restrain the market growth. Further, diverse use of plastic in different sectors to produce their product such as clothing, housing, construction, furniture, automobiles, textile, household items, agriculture, horticulture, irrigation, packaging, medical appliances, electronics, and others are going to increase the demand of the plastic molding. Likewise, the rising population, growing awareness of packed foods, and efforts by marketers to increase revenue are factors for the market's growth. Thus, the abovementioned factors will drive the development and directly impact India's plastic molding market growth.

Browse over XX market data Figures spread through 70 Pages and an in-depth TOC on "India Plastic Molding Market."

The India plastic molding market is segmented based on type, resin type, and end-user type.

Based on the technology type, the market is split into Injection Molding and Blow Molding. The injection molding segment is expected to hold the largest market share in the projected year. Injection molding is an ideal advanced machine or method for producing plastic parts. Due to its versatility in nature, by changing the molds operator can create more volume and design the product in a short time. In this process, the machine leaves less amount of residue. Thus, this product is more demanded in different industries. Therefore, it accounts most significant market share in its segment.

Based on the technology resin, the market is divided into polypropylene, acrylonitrile butadiene styrene, polyvinyl chloride, and others. The PE (polypropylene) segment is expected to hold the largest market share in the projected year. PE is the most common polymer product as it melds with adhesive. Due to its flexibility in nature, PE has strong resistance to moisture and chemicals, making it demanded in different markets.

Based on the application, the market is divided into automotive, packaging, building & construction, electrical & electronics, and others. As per estimates, the packaging segment is going to experience the highest market share during the forecast period. Packaging is used daily in people's daily lives as the growing demand for online shopping platforms in every home. Plastic is used as a packaging product in every industry for safety purposes. That why the packaging sector dominates the market segment.

Major companies operating in India Plastic molding market are:

·         Tech Plastic Industries Pvt Ltd

·         Dalal Plastics Pvt Ltd

·         Innovative Polymers Pvt Ltd

·         M/s General Plastic Industries

·         Plast Mould Industries

·         Parekhplast India Limited

·         IFC Blow Moulding

·         Vimal Plast India

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" The Gujrat region is expected to dominate India's plastic molding market in the coming years due to its favorable state government investment policy, skilled resources, and different manufacturing eco-system. The Plastic Molding Market is anticipated to increase due to the growing demand for clothing, housing, construction, furniture, automobiles, household items, agriculture, horticulture, irrigation, packaging, medical appliances, electronics, and others. According to Statista, in 2022, Almost 1.5 million metric tons of Plastic will be produced across India volume-wise, and developments predict that it will grow in the projected year. Hence, we can expect that the growing demand for the plastic market will influence the growth of plastic molding. The firms and communities are taking steps and replacing drawbacks affecting the plastic market growth through research and development. Thus, the requirement for Plastic molding will increase in the forecasted year for packaging and operation purposes as it decreases its side effect on the environment.

Plastic base products such as containers, sheets, products, and tools will be more in demand due to their low price, durability, heat resistance, feasibility, and short time is taken in the production process, making Plastic more demanded in industries. Technological improvement, collaboration, and acquisition are the managerial decisions to gain an advantage in the desired market. On growing demand for automobiles worldwide, infrastructural projects developing in the region, and public awareness are the factor in boosting the market. All the factors mentioned above are projected to impact market growth and create favorable conditions to push the India Plastic molding market growth till 2028." said Mr. Karan Chechi, research director with TechSci research, a research based global management consulting firm.

“India Plastic Molding Market, By Type (Injection Molding, Blow Molding), By Resin (Polypropylene, Acrylonitrile Butadiene Styrene, Polyvinyl Chloride, Others), By Application (Automotive, Packaging, Building & Construction, Electrical & Electronics, Others, By Company, By Region, Competition Forecast and Opportunities, 2028, has evaluated the future growth potential of India Plastic molding market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in India Plastic molding market.”

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