ABS into the plastics market fastest growing materials

ABS into the plastics market fastest growing materials

According to the report, the global plastic injection plastics market will reach a compound annual growth rate of 4.9% from 2014 to 2020. By 2020, the global plastic injection plastics market will reach US$162 billion. Among them, polypropylene (PP) will continue to dominate the injection molding plastics market. In 2014, polypropylene's share of the injection molding plastics market reached 39%.

The report also pointed out that high initial mold costs and crude oil price fluctuations will become an unfavorable factor hindering the growth of the injection plastics market.

Most of the growth in the injection molding plastics market is mainly due to the demand for the material in the packaging industry, but in addition, several other terminal application industries such as automotive, packaging, electronic products and consumer goods, construction and engineering, disposable medical products industry The increased demand will further drive the growth of the injection molding plastics market. In addition, from 2014 to 2020, the injection molding plastics market will continue to dominate the market in the packaging industry, mainly because of the increasing use of packaging in consumer and health care products.

The healthcare sector is the fastest growing industry in the end-use market, and the increase in the use of blood sample analysis cuvettes, pregnancy testing equipment, needle cannula and medical device components will boost demand.