Healthcare to be the fastest-growing end-use industry segment. Packaging to remain the dominant application segment throughout the forecast period. Acrylonitrile butadiene styrene segment to exhibit the highest growth during the forecast period. Rising demand for packaging in automotive and consumer goods makes polypropylene the most lucrative segment, specifically due to its low cost. Easy to mould nature and heat resistance. North America and Europe are the dominant geographies, collectively held about 66% market share in 2014. North America and Europe have been prominent consumers of injection molded plastics, largely due to high demand from the packaging and automotive industries. The Asia Pacific hosts one of the fastest-growing automotive, healthcare, consumer goods, and semiconductors industry and hence offer lucrative growth opportunities for injection molded plastics market in the region. Moreover, China, Japan, and India are leading markets in terms of consumption and revenues for injection molded plastics in the region. The injection-molded plastics industry is fast-moving and continuous product improvement is most required to remain competitive. Continuous innovation in design, specificity and customization has led to the frequent launch of new and advanced products, resulting in adoption in newer applications. Further, key players have been exploring collaborations and joint ventures as a means to leverage high growth markets.
