Increasing demand for injection molded plastics in several ends use industries. Such as automotive, packaging, electronics & consumer goods, building & construction, medical disposal, and technological advancements. (Such as computer-aided engineering and automation in the injection molding process) This is augmenting the growth of the market. Furthermore, low labor costs, minimum waste production, faster production. And the ability to process multiple raw materials simultaneously is further boosting the market growth. However, volatility in crude oil prices and the high initial tooling cost of injection molding would impede the overall market growth.

The polypropylene segment contributed to about 41% of the market revenue in the overall injection molded plastic market in 2014. Attributes such as heat and electrical resistance, quick setting. Chemical & abrasion resistance and high surface gloss have led to its sustained dominance in the injection mold plastic market. Acrylonitrile butadiene styrene (ABS) is projected to be the fastest-growing segment at 6.8% CAGR, owing to its wider application in the automotive, building & construction, and consumer goods & electronics industries.

The packaging will remain the dominant market application during 2014-2020. This is primarily due to its increasing adoption in consumer goods, healthcare, and cosmetics products. The healthcare segment is the fastest-growing end-use market owing to its increased usage in the production of tubes and housings for needles, pregnancy test devices, and surgical blades among others.