Market Information
Global demand for molded plastics, at 125 mln tons in 2012, is expected to be 171.58 mln tons in 2019, growing at a CAGR of 4.7% from 2013 to 2019, as per Transparency Market Research. In terms of revenue, the market was valued at US$255 bln in 2012 and is expected to be US$352.37 bln in 2019, growing at a CAGR of 4.8% from 2013 to 2019. Over the past few years, the use of plastics has increased tremendously, and is presently used in majority of the market sectors such as electronics, packaging, automobile and construction among others. Growing demand for automobiles coupled with the increasing consumption of plastics in each vehicle manufactured is expected to be one of the primary factors driving the molded plastics market over the next few years. Other key factors such as the increasing demand for plastics in mobile phones and the growth of the mobile phone industry and increasing consumption of plastics in household care products such as cosmetics are expected to boost the demand for molded plastics over the next few years. However, environmental concerns associated with the manufacture and wastage of plastics and fluctuating prices of crude oil are key factors that are expected to hamper the demand for plastics over the next few years. Increasing use of plastic pipes for transmission of oil and gas is expected to provide opportunities for the growth of the market in the next few years.
Molded polyethylene was the largest product segment in the market, accounting for over 25% of the market share in 2012 and is expected to be the fastest growing segment during the forecast period. Polyethylene is majorly used for packaging of various goods such as food, beverages, medical devices and other equipment. Growth of the packaging industry, particularly in
