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India Plastic Molding Market, By Type (Injection Molding, Blow Molding), By Resin (Polypropylene, Acrylonitrile Butadiene Styrene, Polyvinyl Chloride, Others), By Application (Automotive, Packaging, Building & Construction, Electrical & Electronics, Others), By Region, Competition Forecast and Opportunities, 2028
Market Report I 2022-11-01 I 77 Pages I TechSci Research
The India Plastic Molding Market is anticipated to grow at impressive rate during the forecast period. Plastic is a polymer made up of synthetic or non-synthetic material and has a chain of long carbon atoms. Large chunks of Plastics are made up of fossil fuel-based chemicals like natural gas and petroleum. Same as the meaning of the name, plastics can be easily molded to the desired shapes at specific temperatures. Now, different and complex accessories or products are made from plastic polymers with the help of modern molding machines in seconds. Various materials, such as PVC, PE, PP, PHB, and others, have different properties and applications. Due to their versatility, low cost, and less time consumption, Plastics are widely acceptable in the industries for optimization and profitability. According to the FCCI, it is expected that the average plastic consumption in India in 2021 will be 11kg and will reach 20 kilograms in 2020. Thus, there will be an increasing demand for plastic products in markets. Hence it will affect the growth of the plastic molding.
There will be an increase in the demand for plastic as well as plastic Healthcare and Insurance Sector, Renewable Energy Sector, IT Sector, Real Estate Sector, Fast Moving Consumer-Goods Sector (FMCG), automobile Sector, and Supply chain logistics are the primary sector reason for the growth of the Indian economy. All these sectors need plastic products used for packaging and safer transportation. Thus, plastic molding is the best option for industries and homes. Therefore, the demand for Plastic molding in the market is expected to grow significantly in the projected year.
High-Level Uses of Plastics in Different Industries are Driving the Growth
Metals were the primary material responsible for the growth or development of the medieval period's society. Metals have high strength and are durable, but it is expensive and can be degraded into the soil due to collision. To solve this issue in the modern period, people use plastic because it is diverse, low cost, durable, and has different characteristics. Now, Plastic is a multi-million-dollar industry having almost 15 large-scale polymer manufacturers. According to Statista, in 2022, Almost 1.5 million metric tons of Plastic will be produced across India volume-wise, and trends show that it will grow in the projected year. As the production of plastic products or granules increases in India, the demand for plastic molding will be going to increase. The increasing demand for plastic base products such as containers, sheets, products, and tools due to their low price, durability, heat resistance, feasibility, and short time taken in production process make Plastic more demanded in industries. Thus, we can expect growth in the plastic molding industry in the projected year.
India holds the largest share of the population in the region, making the country the biggest market for development and opportunities. The demand for food will increase impressively in the projected year to fulfill the need of the people. According to FICCI, the food processing segment is going to increase at the rate of 8% CAGR in the upcoming period. Thus, we can expect a growing trend in the plastic molding market. Furthermore, growing sectors like clothing, housing, construction, furniture, automobiles, household items, agriculture, horticulture, irrigation, packaging, medical appliances, electronics, and others will impact the growth of the Plastic molding market. All the factors mentioned above led to the growing demand for Plastic Molding Market products and are expected to drive the market share development in the region.
Growing Influence of 3D Printing is Restraint for Market
Substitute of any product is a significant factor responsible for considerable disruption in a market environment. The wireless mobile phone was the substitute for the wired telephone, which almost disrupted the market share of the telephone market. Thus, 3D printing technology is expected to restrain market growth. But the Ongoing R&D to develop alternatives such as bioplastic, compostable plastic, and others can lower the control over the market. Apart from these environmental issues, government policies are another factor that holds the market's growth.
R&D and Collaboration are Propelling the Market Growth
As the market is growing and the mishandling of plastic is increasing that impact people's health and the environment. Hence, the market player collaborates with different organizations for the new biodegradable product. Automation or artificial intelligence is influencing marketers to shift toward technology to maximize production. Additionally, growing awareness of bioplastic is a factor in propelling industries toward plastic molding.
Market Segmentation
India Plastic molding market is segmented based on type, resin, and application. Based on type, market is segmented into injection molding, and blow molding. Based on resin, market is divides into polypropylene, acrylonitrile butadiene styrene, polyvinyl chloride, and others. Based on application, market is divides into automotive, packaging, building & construction, electrical & electronics, and others.
Market Players
Tech Plastic Industries Pvt Ltd, Dalal Plastics Pvt Ltd, Innovative Polymers Pvt Ltd, M/s General Plastic Industries, Plast Mould Industries, Parekhplast India Limited, IFC Blow Moulding, Vimal Plast India Inc. are the leading companies operating in the India plastic molding market.
Report Scope:
in this report, India Plastic Molding Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- India Plastic Molding Market, by Type:
o Injection Molding
o Blow Molding
- India Plastic Molding Market, by Resin:
o Polypropylene
o Acrylonitrile Butadiene Styrene
o Polyvinyl Chloride
o Others
- India Plastic Molding Market, by Application:
o Automotive
o Packaging
o Building & Construction
o Electrical & Electronics
o Others
- India Plastic Molding Market, by Region:
o North
o South
o East
o West
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in India Plastic Molding Market.
Available Customizations:
With the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to five).
1. Product Overview
2. Research Methodology
3. Impact of COVID-19 on India Plastic Molding Market
4. Impact of Russia-Ukraine War on India Plastic Molding Market
5. Executive Summary
6. Voice of Customer
7. India Plastic Molding Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Type (Injection Molding, Blow Molding)
7.2.2. By Resin (Polypropylene, Acrylonitrile Butadiene Styrene, Polyvinyl Chloride, Others)
7.2.3. By Application (Automotive, Packaging, Building & Construction, Electrical & Electronics, Others)
7.2.4. By Region
7.2.4.1. By State (Top 3 States)
7.2.5. By Company (FY2022)
7.3. Product Market Map
8. India Blow Plastic Molding Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value
8.2. Market Share & Forecast
8.2.1. By Resin
8.2.2. By Application
9. India Injection Plastic Molding Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value
9.2. Market Share & Forecast
9.2.1. By Resin
9.2.2. By Application
10. Market Dynamics
10.1. Drivers
10.2. Challenges
11. Market Trends & Developments
12. Policy & Regulatory Landscape
13. India Economic Profile
14. Competitive Landscape
14.1. Tech Plastic Industries Pvt Ltd
14.2. Dalal Plastics Pvt Ltd
14.3. Innovative Polymers Pvt Ltd
14.4. M/s General Plastic Industries
14.5. Plast Mould Industries
14.6. Parekhplast India Limited
14.7. IFC Blow Moulding
14.8. Vimal Plast India
15. Strategic Recommendations
(Note: The companies list can be customized based on the client requirements.)
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