Global Molded Plastic Market Size By Type, By Technology, By Application, By Geographic Scope And Forecast till 2025

Molded Plastic Market was worth USD 386.54 billion in 2020 and is expected to reach USD 657.66 billion by 2028, with a CAGR of 6.89 percent from 2021 to 2025.

The Global Molded Plastic Market is expected to grow rapidly throughout the projected period. Throughout the forecast period, the increased demand for moulded plastics for packaging applications in a range of end-use sectors such as food and beverages, pharmaceuticals, and chemicals is expected to fuel the global moulded plastics market growth. The need for moulded plastics in the automobile and other industries has expanded as a result of rapid industrialization in emerging regions.

Definition of the Global Molded Plastics Market

Molded plastics are synthetic compounds that can be shaped into a variety of shapes depending on their application. These moulded plastics can be altered by adding pigments and colours to the polymers. Molded plastics are used to boost a product's shelf life, durability, and protection from harm.

Molded plastics have desirable properties that are needed in building materials and automobile components. Cable insulation, insulation tapes, and other building components are made from polyvinyl chloride. Electrical conduits, rainfall and sewage pipes, plumbing, gas distribution pipes, tanks, windows and doors, flooring tiles and rolls, and other products are made of polyethylene and polypropylene. Because of their superior strength, moulded polymers are used in automobiles.

Overview of the Global Molded Plastic Market

Agriculture is a major application for moulded plastics. The moulded plastics industry is expected to be driven by this sector's rising demand for plastics. Farmers have benefited from the increased use of plastics in this area by increasing crop productivity and food quality. PE, PP, PVC, and PET are some of the most often used agricultural moulded plastics. Greenhouses, tunnels, mulching, reservoirs, and irrigation systems, as well as silage, fitting and spray cones, and netting used to shade greenhouse interiors, utilise these plastics. The use of PVC irrigation pipes helps to avoid water and nutrient waste.