Asia-Pacific Molded Plastic Market Outlook, 2029
The Asia Pacific Molded Plastic Market is segmented into By Type (Polyethylene, Polypropylene, Polyvinyl Chloride, Polyethylene Terephthalate, Polystyrene, Polyurethane, Others), By Technology (Injection Molding, Blow Molding, Extrusion, Others), By Application (Building and Construction, Electrical and Electronics, Automotive, Packaging, Others)
- Bonafide Research
- 29-02-2024
- Pages : 87
- Figures : 14
- Tables : 21
- Region : Asia-Pacific
- Category : Manufacturing & Industry
- Machinery, Parts & Equipment
The Asia Pacific Moulded Plastic market is anticipated to grow with more than 6% CAGR from 2024–2029, fueled by expanding manufacturing activities and urbanization
- Historical Period2018-2023
- Base Year2023
- Forecast Period2024-2029
- CAGR (2023-2029) 6%
- Largest MarketChina
- Fastest Market India
- Format
Featured Companies
- 1. LG Chem Limited
- 2. DuPont de Nemours, Inc
- 3. Basf SE
- 4. Exxonmobil Corporation
- 5. Dow
- 6. Formosa Plastics Group
- More...
Molded Plastic Market Analysis
Globally, the largest and fastest-growing market for moulded plastics is found in the Asia-Pacific area. Because of its growing middle class, increasing population, and quick industrialization, the area has a strong need for moulded plastic items in a variety of industries. In the Asia-Pacific area, the demand for moulded plastics is mostly driven by the automobile industry. China, Japan, and South Korea, home to the largest automobile markets in the world, set the standard for lightweight, strong, and aesthetically pleasing plastic parts used in automobiles. In addition, the Asia-Pacific region is a centre for packaging innovation due to the region's strict regulations, shifting customer tastes, and thriving e-commerce industry. Moulded plastics provide adaptable and environmentally friendly packaging options that meet the various requirements of food and beverage, pharmaceutical, and personal care. The Asia-Pacific region witnesses’ significant investments in infrastructure projects, including transportation, utilities, and urban development. Moulded plastics are increasingly used in construction materials such as pipes, fittings, insulation, and roofing, contributing to sustainable and cost-effective building solutions. Asia-Pacific countries, particularly China, serve as major exporters of moulded plastic products to global markets. The region's competitive manufacturing costs, skilled workforce, and advanced production capabilities make it a preferred destination for outsourcing plastic manufacturing. With increasing emphasis on sustainability, the Asia-Pacific region witnesses growing adoption of bioplastics derived from renewable sources such as corn starch, sugarcane, and cellulose. Bioplastics offer environmental benefits and appeal to eco-conscious consumers in industries like packaging, consumer goods, and automotive. The Asia-Pacific region is seeing a surge in demand for sustainable alternatives due to environmental concerns around pollution and plastic waste. To reduce their influence on the environment, governments, companies, and consumers are adopting recycling programmes, biodegradable products, and circular economy models more and more. According to the research report, “Asia Pacific Moulded Plastic Market Outlook, 2029,” published by Bonafide Research, the Asia Pacific Moulded Plastic market is anticipated to grow with more than 6% CAGR from 2024–2029. The population of the Asia-Pacific area is expanding quickly, while industrialization and urbanisation are both rising at the same time. The growing number of people living in cities increases the need for moulded plastic items in the areas of consumer goods, housing, infrastructure, and transportation. The region's burgeoning industrial sector, encompassing automotive, electronics, construction, packaging, and consumer goods industries, drives demand for moulded plastic components and products. Manufacturers utilise moulded plastics for various applications, including automotive parts, electronic enclosures, packaging materials, and building materials. Economic growth and rising disposable incomes in countries like China, India, Japan, South Korea, and Southeast Asian nations fuel demand for consumer goods and infrastructure development. Moulded plastics offer cost-effective, lightweight, and durable solutions for a wide range of products, contributing to their increasing adoption across industries. Changing consumer preferences, lifestyle trends, and increasing awareness of environmental issues influence the demand for moulded plastic products in the Asia-Pacific region. Consumers seek lightweight, durable, and aesthetically pleasing products with features such as customisation, recyclability, and sustainability, driving manufacturers to innovate and offer differentiated solutions.
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Asia-Pacific dominates the market and is the largest and fastest-growing market in the animal growth promoters industry globally
Download SampleMarket Dynamic
Major Drivers • Consumer Preferences and Lifestyle Trends: Consumer preferences and lifestyle trends play a significant role in driving the demand for moulded plastic products in the Asia-Pacific region. As consumers seek convenience, functionality, and aesthetics in their purchases, moulded plastics offer versatile solutions that align with these preferences. For example, lightweight and durable plastic packaging caters to the growing demand for on-the-go consumption and e-commerce deliveries. Moreover, customisation options and innovative designs in moulded plastic products, such as home appliances, furniture, and electronics, appeal to consumers' desire for personalised and stylish products. • Economic Growth and Disposable Incomes: Economic growth and rising disposable incomes in the Asia Pacific region drive the demand for consumer goods, housing, and automobiles, all of which rely on moulded plastic products. As households become more affluent, they have greater purchasing power to afford products made from moulded lastic. For instance, demand for household appliances, electronics, furniture, and recreational products increases with rising disposable incomes, contributing to the growth of the moulded plastic market. Furthermore, economic development spurs infrastructure projects, urbanisation, and industrialization, further fueling the demand for construction materials, automotive components, and packaging solutions made from moulded plastics. Major Challenges • Competition: The Asia-Pacific moulded plastic market is characterised by intense competition among manufacturers, both domestically and internationally. With numerous players vying for market share, competition drives innovation, efficiency, and quality improvement. However, it also poses challenges such as margin compression and the need for differentiation. Manufacturers must continually invest in research and development, technology upgrades, and marketing efforts to stay competitive in the market. • Pricing pressure: Pricing pressure is another significant challenge faced by participants in the Asia-Pacific moulded plastic market. Intense competition, coupled with the presence of low-cost producers, often leads to downward pressure on prices. Manufacturers face challenges in maintaining profit margins while remaining price-competitive in the market. Additionally, fluctuations in raw material costs, currency exchange rates, and economic conditions can further exacerbate pricing pressure, requiring companies to implement cost-saving measures and efficient production processes to mitigate the impact on profitability.
Molded Plastic Segmentation
| By Type | Polyethylene | |
| Polypropylene | ||
| Polyvinyl Chloride | ||
| Polyethylene Terephthalate | ||
| Polystyrene | ||
| Polyurethane | ||
| Others | ||
| By Technology | Injection Molding | |
| Blow Molding | ||
| Extrusion | ||
| Others | ||
| By Application | Building and Construction | |
| Electrical and Electronics | ||
| Automotive | ||
| Packaging | ||
| Others | ||
| Asia-Pacific | China | |
| Japan | ||
| India | ||
| Australia | ||
| Korea South | ||
Based on the types, they are segmented into polyethylene, polypropylene, polyvinyl chloride, polyethylene terephthalate, polystyrene, polyurethane, and others. In terms of technology types, they are segmented into injection moulding, blow moulding, extrusion, and hers. In Asia Pacific, polypropylene contributes the highest market share. Polypropylene is a versatile thermoplastic polymer known for its excellent balance of properties, including high stiffness, good impact resistance, chemical resistance, and dimensional stability. These characteristics make PP suitable for a wide range of applications across various industries, including automotive, packaging, consumer goods, electronics, and construction. Furthermore, polypropylene is an eco-friendly option for moulded plastic applications as it is highly recyclable and works with the current recycling infrastructure. Because polypropylene (PP) is recyclable, it is being used more and more in consumer goods, construction materials, and sustainable packaging as a response to increased consumer and governmental demand to minimise plastic waste and advance the ideas of the circular economy. In the region where extrusion contributes the highest market share, rapid urbanisation and industrialization in the Asia-Pacific area are resulting in large-scale infrastructure development initiatives, including the creation of buildings, roads, bridges, and utilities. Long, continuous components like pipes, profiles, and panels used in major infrastructure projects are best produced using the extrusion technique. Extrusion's capacity to produce homogenous items in large quantities with efficiency corresponds with the extent of infrastructural development in the area. Many countries in the Asia-Pacific region are increasingly prioritising energy efficiency and sustainability in their manufacturing processes. Extrusion technology offers advantages in terms of energy efficiency compared to other moulding processes such as injection moulding or blow lding. The continuous nature of extrusion allows for consistent energy consumption and optimised heating and cooling cycles, reducing overall energy usage per unit of output. According to the report, applications are segmented into building and construction, electrical and electronics, automotive, packaging, and others. In Asia Pacific, packaging leads the market. The Asia Pacific area is rapidly becoming more urbanised and industrialised, which is driving up demand for packaging solutions in a number of industries, including consumer products, personal care, pharmaceuticals, and food and beverage. The need for moulded plastic packaging goods is driven by the growing urban population's desire for easy and sanitary packaging to satisfy their demands. Furthermore, moulded plastic packaging offers cost-effective solutions for manufacturers and brand owners in the Asia-Pacific region. Compared to traditional packaging materials such as glass, metal, or paperboard, moulded plastic packaging is often more affordable to produce, transport, and store. Additionally, moulded plastic packaging can be easily customised in terms of size, shape, colour, and branding, allowing companies to differentiate their products and attract consumers in competitive markets. Due to shifting customer tastes, rising internet penetration, and smartphone use, the Asia-Pacific area has seen a notable increase in e-commerce activity. There is an increasing need for strong and protective packing materials to keep goods secure during transit as a result of the growth of home delivery services and online shopping platforms. Because of its lightweight, shatter-resistant, and customisable qualities, moulded plastic packaging—such as polyethylene terephthalate (PET) bottles, polypropylene (PP) containers, and polystyrene (PS) trays—is frequently used to package items sold online.
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Molded Plastic Market Regional Insights
Based on the report, the major countries covered include China, Japan, India, Australia, South Korea, and the rest of Asia Pacific. China contributes the highest market share. China is renowned as the world's largest manufacturing hub, with a vast network of factories and industrial facilities specialising in various industries, including plastics. The country's extensive manufacturing infrastructure, skilled workforce, and access to raw materials contribute to its dominance in the moulded plastic market. Over the last few decades, China's fast industrialization and economic expansion have increased demand for moulded plastic products in a variety of industries, including consumer goods, electronics, packaging, automotive, and construction. China's economy, which is among the fastest-growing in the world, presents moulded plastic makers with excellent prospects to profit from the nation's booming market and export potential. Furthermore, China boasts a massive domestic market with a burgeoning middle class and rising consumer purchasing power. The country's large population and urbanisation trends drive demand for a wide range of moulded plastic products, including packaging materials, household goods, automotive components, and construction materials. Domestic demand serves as a significant growth driver for China's moulded plastic industry. Chinese manufacturers have made significant investments in research and development, technology adoption, and process optimisation to drive innovation and product differentiation in the moulded plastic market. Advancements in moulding technologies, materials science, and product design enable Chinese companies to offer high-quality, cost-effective solutions that meet the evolving needs of domestic and international customers.
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Key Development
Companies Mentioned
- LG Chem Limited
- DuPont de Nemours, Inc
- Basf SE
- Exxonmobil Corporation
- Dow
- Formosa Plastics Group
- Pactiv Evergreen Inc
- Eastman Chemical Company
- Chevron Corporation
- Eni S.p.A.
- LyondellBasell Industries N.V.
- Ineos Group Limited
Table of Contents
- 1. Executive Summary
- 2. Research Methodology
- 2.1. Secondary Research
- 2.2. Primary Data Collection
- 2.3. Market Formation & Validation
- 2.4. Report Writing, Quality Check & Delivery
- 3. Market Structure
- 3.1. Market Considerate
- 3.2. Assumptions
- 3.3. Limitations
- 3.4. Abbreviations
- 3.5. Sources
- 3.6. Definitions
- 4. Economic /Demographic Snapshot
- 5. Global Molded Plastic Market Outlook
- 5.1. Market Size By Value
- 5.2. Market Share By Region
- 5.3. Market Size and Forecast, By Types
- 5.4. Market Size and Forecast, By Technology
- 5.5. Market Size and Forecast, By Application
- 6. Asia-Pacific Molded Plastic Market Outlook
- 6.1. Market Size By Value
- 6.2. Market Share By Country
- 6.3. Market Size and Forecast, By Types
- 6.4. Market Size and Forecast, By Technology
- 6.5. Market Size and Forecast, By Application
- 7. Market Dynamics
- 7.1. Market Drivers & Opportunities
- 7.2. Market Restraints & Challenges
- 7.3. Market Trends
- 7.3.1. XXXX
- 7.3.2. XXXX
- 7.3.3. XXXX
- 7.3.4. XXXX
- 7.3.5. XXXX
- 7.4. Covid-19 Effect
- 7.5. Supply chain Analysis
- 7.6. Policy & Regulatory Framework
- 7.7. Industry Experts Views
- 7.8. China Molded Plastic Market Outlook
- 7.8.1. Market Size By Value
- 7.8.2. Market Size and Forecast By Types
- 7.8.3. Market Size and Forecast By Technology
- 7.9. Japan Molded Plastic Market Outlook
- 7.9.1. Market Size By Value
- 7.9.2. Market Size and Forecast By Types
- 7.9.3. Market Size and Forecast By Technology
- 7.10. India Molded Plastic Market Outlook
- 7.10.1. Market Size By Value
- 7.10.2. Market Size and Forecast By Types
- 7.10.3. Market Size and Forecast By Technology
- 7.11. Australia Molded Plastic Market Outlook
- 7.11.1. Market Size By Value
- 7.11.2. Market Size and Forecast By Types
- 7.11.3. Market Size and Forecast By Technology
- 7.12. South Korea Molded Plastic Market Outlook
- 7.12.1. Market Size By Value
- 7.12.2. Market Size and Forecast By Types
- 7.12.3. Market Size and Forecast By Technology
- 8. Competitive Landscape
- 8.1. Competitive Dashboard
- 8.2. Business Strategies Adopted by Key Players
- 8.3. Key Players Market Positioning Matrix
- 8.4. Porter's Five Forces
- 8.5. Company Profile
- 8.5.1. LyondellBasell Industries N.V.
- 8.5.1.1. Company Snapshot
- 8.5.1.2. Company Overview
- 8.5.1.3. Financial Highlights
- 8.5.1.4. Geographic Insights
- 8.5.1.5. Business Segment & Performance
- 8.5.1.6. Product Portfolio
- 8.5.1.7. Key Executives
- 8.5.1.8. Strategic Moves & Developments
- 8.5.2. BASF SE
- 8.5.3. Saudi Basic Industries Corporation
- 8.5.4. DuPont de Nemours, Inc.
- 8.5.5. Ineos Group Limited
- 8.5.6. Eastman Chemical Company
- 8.5.7. Formosa Plastics Corporation
- 8.5.8. LG Chem Ltd
- 8.5.9. Eni S.p.A.
- 8.5.10. Chevron Corporation
- 8.5.11. ExxonMobil Corporation
- 8.5.12. Dow Inc.
- 9. Strategic Recommendations
- 10. Annexure
- 10.1. FAQ`s
- 10.2. Notes
- 10.3. Related Reports
- 11. Disclaimer
Table 2: Top 10 Counties Economic Snapshot 2022
Table 3: Economic Snapshot of Other Prominent Countries 2022
Table 4: Average Exchange Rates for Converting Foreign Currencies into U.S. Dollars
Table 5: Global Molded Plastic Market Size and Forecast, By Types (2018 to 2029F) (In USD Billion)
Table 6: Global Molded Plastic Market Size and Forecast, By Technology (2018 to 2029F) (In USD Billion)
Table 7: Global Molded Plastic Market Size and Forecast, By Application (2018 to 2029F) (In USD Billion)
Table 8: Asia Pacific Molded Plastic Market Size and Forecast, By Types (2018 to 2029F) (In USD Billion)
Table 9: Asia Pacific Molded Plastic Market Size and Forecast, By Technology (2018 to 2029F) (In USD Billion)
Table 10: Asia Pacific Molded Plastic Market Size and Forecast, By Application (2018 to 2029F) (In USD Billion)
Table 11: Influencing Factors for Molded Plastic Market, 2023
Table 12: China Molded Plastic Market Size and Forecast By Types (2018 to 2029F) (In USD Billion)
Table 13: China Molded Plastic Market Size and Forecast By Technology (2018 to 2029F) (In USD Billion)
Table 14: Japan Molded Plastic Market Size and Forecast By Types (2018 to 2029F) (In USD Billion)
Table 15: Japan Molded Plastic Market Size and Forecast By Technology (2018 to 2029F) (In USD Billion)
Table 16: India Molded Plastic Market Size and Forecast By Types (2018 to 2029F) (In USD Billion)
Table 17: India Molded Plastic Market Size and Forecast By Technology (2018 to 2029F) (In USD Billion)
Table 18: Australia Molded Plastic Market Size and Forecast By Types (2018 to 2029F) (In USD Billion)
Table 19: Australia Molded Plastic Market Size and Forecast By Technology (2018 to 2029F) (In USD Billion)
Table 20: South Korea Molded Plastic Market Size and Forecast By Types (2018 to 2029F) (In USD Billion)
Table 21: South Korea Molded Plastic Market Size and Forecast By Technology (2018 to 2029F) (In USD Billion)
Figure 2: Market attractiveness Index, By Region 2029
Figure 3: Market attractiveness Index, By Segment 2029
Figure 4: Global Molded Plastic Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 5: Global Molded Plastic Market Share By Region (2023)
Figure 6: Asia-Pacific Molded Plastic Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 7: Asia-Pacific Molded Plastic Market Share By Country (2023)
Figure 8: China Molded Plastic Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 9: Japan Molded Plastic Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 10: India Molded Plastic Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 11: Australia Molded Plastic Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 12: South Korea Molded Plastic Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 13: Competitive Dashboard of top 5 players, 2023
Figure 14: Porter's Five Forces of Global Molded Plastic Market
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