The India Plastic Molding
Market is anticipated to grow at impressive rate during the forecast period.
Plastic is a polymer made up of synthetic or non-synthetic material and has a
chain of long carbon atoms. Large chunks of Plastics are made up of fossil fuel-based
chemicals like natural gas and petroleum. Same as the meaning of the name,
plastics can be easily molded to the desired shapes at specific temperatures.
Now, different and complex accessories or products are made from plastic
polymers with the help of modern molding machines in seconds. Various
materials, such as PVC, PE, PP, PHB, and others, have different properties and
applications. Due to their versatility, low cost, and less time consumption,
Plastics are widely acceptable in the industries for optimization and
profitability. 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.
Thus, there will be an increasing demand for plastic products in markets. Hence
it will affect the growth of the plastic molding.
There will be an increase in
the demand for plastic as well as plastic Healthcare and Insurance Sector,
Renewable Energy Sector, IT Sector, Real Estate Sector, Fast Moving
Consumer-Goods Sector (FMCG), automobile Sector, and Supply chain logistics are
the primary sector reason for the growth of the Indian economy. All these
sectors need plastic products used for packaging and safer transportation.
Thus, plastic molding is the best option for industries and homes. Therefore,
the demand for Plastic molding in the market is expected to grow significantly
in the projected year.
High-Level Uses of Plastics
in Different Industries are Driving the Growth
Metals were the primary
material responsible for the growth or development of the medieval period's
society. Metals have high strength and are durable, but it is expensive and can
be degraded into the soil due to collision. To solve this issue in the modern
period, people use plastic because it is diverse, low cost, durable, and has
different characteristics. Now, Plastic is a multi-million-dollar industry
having almost 15 large-scale polymer manufacturers. According
to Statista, in 2022, Almost 1.5 million metric tons of Plastic will be
produced across India volume-wise, and trends show that it will grow in the
projected year. As the production of plastic products or granules increases
in India, the demand for plastic molding will be going to increase. The increasing
demand for plastic base products such as containers,
sheets, products, and tools due to their low price, durability, heat resistance,
feasibility, and short time taken in
production process make Plastic more demanded in industries. Thus, we
can expect growth in the plastic molding industry in the projected year.
India holds the largest share
of the population in the region, making the country the biggest market for
development and opportunities. The demand for food will increase impressively
in the projected year to fulfill the need of the people. According to FICCI, the food processing segment is going to increase at the
rate of 8% CAGR in the upcoming period. Thus, we can expect a growing trend
in the plastic molding market. Furthermore, growing sectors like clothing, housing, construction, furniture, automobiles,
household items, agriculture, horticulture, irrigation, packaging, medical
appliances, electronics, and others will impact the growth of the Plastic
molding market. All the factors mentioned above led to the growing demand for Plastic
Molding Market products and are expected to drive the market share development
in the region.
Growing Influence of 3D
Printing is Restraint for Market
Substitute of any product is
a significant factor responsible for considerable disruption in a market
environment. The wireless mobile phone was the substitute for the wired
telephone, which almost disrupted the market share of the telephone market.
Thus, 3D printing technology is expected to restrain market growth. But the
Ongoing R&D to develop alternatives such as bioplastic, compostable
plastic, and others can lower the control over the market. Apart from these
environmental issues, government policies are another factor that holds the
R&D and Collaboration are
Propelling the Market Growth
As the market is growing and
the mishandling of plastic is increasing that impact people's health and the
environment. Hence, the market player collaborates with different organizations
for the new biodegradable product. Automation or artificial intelligence is
influencing marketers to shift toward technology to maximize production.
Additionally, growing awareness of bioplastic is a factor in propelling
industries toward plastic molding.
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Plastic molding market is segmented based on type, resin, and application.
Based on type, market is segmented
into injection molding, and blow molding.
Based on resin, market is divides into polypropylene,
acrylonitrile butadiene styrene, polyvinyl chloride, and others. Based on
application, market is divides into automotive, packaging, building &
construction, electrical & electronics, and others.
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 Inc.
are the leading companies operating in the India plastic molding market.
2018 – 2020
2023 – 2028
in USD Million, and CAGR for 2018-2021 and 2022-2028
Volume forecast, company share, competitive landscape, growth factors, and
Top 3 States
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 Inc
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in this report, India Plastic
Molding Market has been segmented into following categories, in addition to the
industry trends which have also been detailed below:
- India Plastic
Molding Market, by Type:
- India Plastic Molding Market, by Resin:
India Plastic Molding Market, by Application:
- Building & Construction
- Electrical & Electronics
- India Plastic Molding Market, by Region:
analysis of the major companies present in India Plastic Molding Market.
the given market data, TechSci Research offers customizations according to a
company’s specific needs. The following customization options are available for
India Plastic Molding
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- Detailed analysis and profiling of
additional market players (up to five).