Molded Plastic Packaging Market Size, Share, and COVID-19 Impact Analysis, By Material (Polyethylene (PE), Polypropylene (PP), Polyvinyl Chloride (PVC), Polyethylene Terephthalate (PET), Polystyrene (PS), Polyurethane (PU), and Others), By Technology (Injection Molding, Blow Molding, Extrusion, and Others), By End-use (Automotive, Agriculture, Pharmaceuticals, Electrical & Electronics, Personal Care & Cosmetics, and Food & Beverage), and Regional Forecast, 2024-2032

Molded plastic packaging is a type of packaging where the plastic consists of the synthetic compound are molded into various shapes. The molding technology manufactures several shipping containers, bottles, closures, and other packaging for cosmetics, household, chemicals, and other industries. When generated synthetically, nonmetallic compounds can be shaped into anything for commercial usage. Thus, it is highly used for packaging several goods and products owing to its strength, durability & texture. Growing demand for molded plastics in the packaging & automotive industry is projected to propel the market growth.

• For instance, on March 2023, Rieke, a TriMas Packaging company, launched the IMF-5 In-Mold FLEXSPOUT tamper-evident closure for plastic pails – molded directly into the pail lid during the injection molding– to provide its customers with enhanced product and brand protection.

The growing demand for molded plastic in the automotive industry drives market growth worldwide. Due to flexibility, rigidness, and weather-resistant properties, molded plastic such as polypropylene & polystyrene is majorly preferred for creating various vehicle parts. Similarly, increasing demand in the packaging industry for consumer goods, cosmetics, and pharmaceuticals has led to the rapid growth of the global molded plastic packaging market. Demand in these sectors will be compelled by the mounting use of plastics for packaging food and beverages, electrical equipment, surgical gear, etc. Additionally, the increasing utilization of lightweight, rigid plastic worldwide is expected to enhance market growth.

Governments in different regions are taking stringent actions regarding plastic waste & environmental concerns attached to it. Plastic takes ages to decompose, and certain types of plastics are non-decomposable. Such factors are estimated to hinder the growth of the global molded plastic packaging market. Nowadays, consumers are more concerned with plastic purchases, which thus affects market growth. Moreover, fluctuations in the prices of resources and raw materials used to produce molded plastics hinder the market's growth.

IMPACT OF COVID-19 ON THE GLOBAL MOLDED PLASTIC PACKAGING MARKET

The global molded plastic market has shown potential growth during the COVID-19 outbreak. The primary reason behind the growth is the high demand for gloves, protective equipment, masks, and related packaging materials. Besides, the growth in the e-commerce sector and customer awareness resulted in high demand for protective product packaging, which eventually pushed the market to grow. These trends concerning the growth of packaging in all the other industries will propel the growth of the global molded plastic packaging market.

KEY INSIGHTS

The report will cover the following key insights :

• Recent Advancements in Global Molded Plastic Packaging Market


• Key Industry Trends


• Regulatory Landscape for the Global Molded Plastic Packaging Market


• Key Industry Developments (Mergers, Acquisitions, and Partnerships)


• Impact of COVID-19 on the Market.

ANALYSIS BY MATERIAL

Based on the material, the market is segmented into polypropylene (PP), polyethylene (PE), polyvinyl chloride (PVC), polyethylene terephthalate (PET), polystyrene (PS), polyurethane (PU), and others. The polyethylene (PE) segment will hold the major market share. The rapid growth can be attributed to the material's fundamental properties, such as abrasion resistance, low-temperature toughness, and rigidity. Further, the superior qualities like light weight, shock resistance, and low friction make polypropylene (PP) one of the most used materials for making gears & other automotive parts.

ANALYSIS BY TECHNOLOGY

Based on the technology, the market is segmented into injection molding, blow molding, extrusion, and others. Injection molding is the dominating technology segment of the global molded plastic packaging market. The technology is used in many end-use industries, such as automotive, packaging & electronics. Additionally, the automated process makes it easier, thus enhancing segmental growth. Manufacturers use injection molding to save on production costs and reduce the waste produced during manufacturing. Furthermore, extrusion technology is gaining momentum as it is widely used in the mass production of products like bottles & cans.

ANALYSIS BY END-USE

Based on the end-use, the market is segmented into automotive, agriculture, pharmaceuticals, electrical & electronics, personal care & cosmetics, and food & beverage. Automotive is the largest end-use segment of the global molded plastic packaging market. The growing use of plastics in automotive spare parts & gears with the high demand for passenger cars & heavy-duty vehicles is expected to drive the global molded plastic packaging market. Similarly, using molded plastics in the personal care & cosmetics, and food & beverage industries for packaging purposes is expected to augment the segment's growth.

ANALYSIS BY REGION

The molded plastic packaging market has been studied across North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is expected to hold the largest market share owing to increased disposable income, growing population & urbanization. Moreover, the increasing usage of molded plastics in industries like automotive support the growth of the Asia Pacific molded plastic packaging market. Europe is projected to emerge with high growth due to the growing demand for molded plastic packaging in the food & beverage industries. North America will witness sustainable growth due to the region's rise in industrial activities and growing food & beverages industries. With a growing aging population, pharmaceutical industries in Latin America will create more opportunities for molded plastic packaging over the forecast period. Furthermore, the Middle East & African market will withstand modest growth with substantial investment by industry leaders & growth in economic activities.

KEY PLAYERS COVERED

The report will include profiles of key players such as Alpha Packaging, APEX Plastics, Plastipak, Sidel, Silgan, First American Plastic, Graham Packaging, Hassan Plas Packaging, HTI Plastics, Linpac, R&D Molder, Resilux, RPC, Sonoco, Streamline plastic & others.

SEGMENTATION

KEY INDUSTRY DEVELOPMENTS. 

• October 2021: a Connecticut-based American manufacturing company, Silgan Holdings, which produces consumer goods packaging, announced the acquisition of a Gateway Plastic company. The company is engaged in the manufacturing of dispensing closures and integrated dispensing packaging solutions. The acquisition will increase the global injection molded plastics market as it will be required to a greater extent for goods packaging solutions.


• September 2020: ALPLA, a leading company focused on developing and producing plastic packaging solutions, declared the acquisition of a facility of Amcor PLC located in Pune, Western India producing PET bottles. The acquisition will enhance its product portfolio in packaging solutions.


• August 2019: Pexco LLC, a North American plastic extruder, announced its strategic acquisition of American Injection Molding Inc. & American Extruded Plastics Inc. The acquisition is made to offer its customers integrated molded plastics solutions.