The global market for plastic injection molding is expected to grow by 34.8% — from $125.95 billion in 2021 to $169.81 billion by 2026 — at a compound annual growth rate (CAGR) of 6.2%, Plastinfo.ru internet portal reported on Monday with reference to the U.S.-based market analytics company BCC Research’s report.
During the period, the production of polypropylene grades for injection molding should grow by 40.4% — from $ 40.87 billion in 2021 to $ 57.38 billion by 2026 — at a compound annual growth rate of 7%, according to the report.
Plastic injection molding process technology is one of the most common plastics processing methods in many industrial sectors, providing high profitability, ease, convenience and efficiency in the production of plastic products.
BCC Research notes that packaging remains the dominant end-use market for injection molded products, serving a wide range of industries, especially the medical segment.