Injection Molded Plastic Market Regional Estimates and Trend Analysis by 2022

Industry Insight:
Global Injection Molded Plastic Market was valued around USD 200 billion in 2014 and is estimated to witness steady growth over the forecast period. The industry is continuously expanding owing to increasing demand from numerous end-user such as automotive, packaging, home appliances, electronic, and medical equipment market. The process of injection molding involves the production of molded products by inserting molten plastics into a mold using high temperature and then solidifying it. Upgraded technology have minimized the faulty manufacturing of plastics and enhanced the bulk production of even complex shapes.

Moreover, minimum waste produced, faster rate of production, simultaneous processing of raw material and cheap labor cost are expected to be the major driver of the market. Though, the market is impeded by the high initial cost of tools and unpredictability of crude oil prices. China plays a major role in trading and bulk production of petrochemical products and indirectly hampers the plastic industry. For this reason, many companies have implemented various strategies to minimize the impact of crude oil prices and to sustain annual growth rate. Fluctuating prices of raw materials such as ethylene, benzene, styrene and propane associated with various environmental concerns regarding their disposal are anticipated to hamper the market over the forecast period. To counter such challenges, the market has shifted their focus towards manufacturing products using bio-based counterparts.

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Raw Material Insights:
Propylene is the major raw material, be accounted for more than 35% of total demand in 2014 and is estimated to grow rapidly over the forecast period. The major application of molded propylene plastics is in automotive parts, packaging material, and household goods. Furthermore, the demand is expected to increase owing to its new application in the battery housing, food packaging, and protective covering in electrical appliances. This recent application is majorly due to its phenomenal properties of electrical insulation and corrosion resistance.

ABS (Acrylonitrile Butadiene Styrene) is been accounted for more than 25% of total revenue generated in 2014 and emerged as second major raw material for the production of injected molded plastics. The market is expected to grow swiftly in the future owing to increasing demand for ABS in automobile parts, electronic goods, consumer appliances, and medical devices. ABS market is expanding into other application such as DWV (Drain-Waste-Vent) pipe system, musical instruments, and golf club heads on account of better toughness and temperature & impact resistive properties.

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Application Insights:
The packaging segment had the highest demand for the plastic molded market and accounted over 30,000 kilo-tons in 2014. The industry is anticipated to witness high growth owing to its multiple end users market expansion. Enhanced performance for wear and tear, durability, and increased shell life of food products are few of the packaging application. Expansion of construction industry owing to rapid industrialization also have the major application of molded plastics, especially for insulation, walls, doors, roofing, and flooring. Continuous improvement in specificity, designs, and better customization has directed the market to launch more advance products bringing out new opportunities of multiple application.

Both medical and automobile industries are driving the market significantly and estimated to grow swiftly and generate revenue of more than USD 25 billion by 2022. The demand in the medical industry will rise owing to optical clarity, cost efficient, and biocompatibility. Also, growing trend and stringent regulations for biodegradable polymers for medical devices are also predicted to build strong demand for the market. In the automobile industry, plastics plays major role owing to improving fuel efficiency and weight reduction. This, in turn, has steered the market as a breakthrough in the automotive sector. CAFE (Corporate Average Fuel Economy) regulation to produce minimal fuel consuming vehicles may boost the market growth.

Also, shift in trend of replacing steel and metal alloys with high-quality plastics to enhance the automotive performance. This helps both automotive and molded plastic industries as reduced weights of vehicles due to plastic helps to control CO2 emission. Few of the automotive applications include radio controls, keyless entry system, electronic control housing, splash guards, and interior armrests & bezels. The molded plastic has numerous applications in the automotive industry owing to its phenomenal properties of scratch resistance, superior strength, vibration & noise control, and recyclability.

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Regional Insights:
APAC dominated the global market accounting for more than 35% in 2014. Growing automobile demand coupled with increasing infrastructure and higher disposable income in developing countries such as India, China, Japan, Indonesia, and Thailand have created huge opportunities for the market. Also, tax benefits by government offered to electronics & automotive manufacturers are anticipated to boost the market in these countries.

Europe is also a major market with total demand estimated to cross USD 75 billion by 2022. Countries such as Germany, France, and U.K. have great demand for packaging applications including pharmaceuticals, household chemicals, cosmetics, and toiletries which is a major factor driving the market in the region. Countries such as Thailand, China, Brazil, U.S., Germany, India, and Brazil are anticipated to drive the future market for Injection Molded Plastics.

Competitive Insights:
The global market is highly fragmented in Asia Pacific and Latin America largely with unorganized sectors. Product differentiation and diversified product portfolio have driven competitiveness in the market regarding distribution channels and prices. Key players operating globally are Dow Chemical Company, BASF, HTI Plastics, and DUPont. Other companies with significant stakes in the market are Huntsman, Eastman Chemical Company, Ineos Group. SABIC, Magna International Inc., and LyondellBasell.

Aramid Fiber Market Economic Impact, Status and Key Manufacture Analysis to 2024

Industry Insights
The Global Aramid Fiber Market was estimated at USD 2.84 billion in the year 2015 and is expected to register a significant growth over the forecast period on account of its increasing demand from numerous end-use applications which consist of rubber and tire strengthening, security & protection, optical fiber and electrical insulation. The cumulative increase in the use of armors on account of rising concerns regarding security among civilians is driving the growth. These armors consist of helmets, vehicle armors, body armors and bulletproof vests used in defense industry.

The product is also used as a substitute to asbestos which is considered injurious to the environment. The participants in the market have been focusing on R&D activities to develop new products that fulfil the norms and regulations enforced by regulatory bodies. It is an appropriate material for applications in aerospace on account of its properties such as lightweight and fuel efficiency. Developing nations such as India and China are estimated to witness a rapid growth due to the rise in the consumption of electrical devices and automotive in the recent past.

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The major participants in this market are emphasizing on mergers & acquisitions, collaborations with consumers and suppliers coupled with new product launches to upsurge their business presence and strengthen their foothold in the market. In addition, players are also focusing on advancements in protective clothing industry in order to address the safety concerns.

Application Insights
In terms of global market revenue, security and protection accounted for over 33.60% in the year 2015. Aramid fibers are broadly used in the manufacturing of stab resistant and fire resistant protective clothing which consist of gloves, helmets and footwear. These products are widely used for industrial, civilian and military purposes. Strict norms and regulations in the North American and European countries such as the U.S., Germany, France, and UK are fueling the regional market growth.

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The rising demand for optical fibers and electrical insulation coupled with the expansion of the IT industry has resulted in endorsing demand for aramid fiber. Increasing demand from the aerospace industry for lightweight products is anticipated to enhance the expansion on account of its safety qualities and fuel efficiency.

Product Insights
The demand for para-aramid fibers in 2015 was 51.87 kilo tons. They possess high potential, owing to properties such as high tenacity, low elongation and strength-to-weight property, resulting in its rising requirement from numerous industries such as aerospace, defense and automotive. Meta-aramid fiber is an aromatic polyamide which possess superior physical and mechanical properties. It is widely applied in honeycombed structured products, thermal protective clothing and filtration on account of its flameproof and heat resisting properties.

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Regional Insights
In terms of global revenue share, Europe was the largest market accounting for 35.10% share in the year 2015. The market is majorly determined by countries such as Germany, France and U.K. Strict regulatory norms in various industries such as oil & gas, steel & aluminum, construction and automotive has been fueling the growth and this trend is expected to continue over the next eight years.

Asia Pacific is presumed to observe a rapid growth at a CAGR of 9.60% for aramid fibers in the near future. The expansion of aramid fibers market is primarily driven by rising demand from optical fiber and automotive sector in this region. Rising consumption of electrical devices and increasing vehicle manufacture in India and China are expected to drive the demand over the forecast period.

Competitive Insights
The global market for aramid fiber is competitive in nature, with major players engaged in R&D for constant innovation in the product. The major players in the market consist of Hyosung Corp., Kolon Industries Inc., SRO Aramid Co. Ltd., Yantai Tayho Advanced Materials Co., and E.I. du Pont de Nemours & Co. The major participants are also involved in partnerships and collaborations. There are numerous end-use applications which consist of filtration, composites, recreational good, and ropes & cables, which is anticipated to offer a competitive edge to the major participants along with an opportunity to strengthen their business presence.

Antimicrobial additives Market Industrial Investment Analysis and Growth Forecasts to 2025

Industry Insights
The Global Antimicrobial Additives Market size was valued at USD 7.86 billion in 2015. Increasing use of the product in number of end use industries such as food and beverages, healthcare, packaging, construction, automotive, furniture and electronics is expected to be a driving force of growth. Antimicrobial additives have special ingredients that help prevent fungal, bacterial and algal development in materials which are exposed to moisture as well as high level of ultra violet radiation & unsanitary conditions.

The products have number of applications in papers, textiles, plastics, paints and coatings, inks, fabric care and rubber, so as to suppress the breeding of undesirable microorganisms and thereby increase the durability of the substrate. The rising consumer awareness towards health issues along with the enhancements in the standard of living in the developing country’s such as India, China, Brazil & South Korea are anticipated to boost the market during the forecasted period. Moreover, increasing population is expected to escalate the incidences of infective diseases, which is further expected to drive the sales of preventive products such as antimicrobials.

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Furthermore, the prevailing issues such as climatic changes, air pollution, and poor sanitation, presence of epidemics such as hepatitis, HIV, swine flu, rabies, Ebola, Zika, & tuberculosis are likely to drive the use of these products in healthcare industry. Soaring healthcare expenditures in the United States is projected to fuel the market growth over the forecast period.

Type Insights
In the year 2015, organic antimicrobial accounted for over 51% of the total global volume of additives. On account of the high toxic nature of Triclosan and oxybisphenoxarsine (OBPA) there was a restriction on usage and sales of the product. Such bans are expected to slow down the market growth over the forecast period. The inorganic additives segment is anticipated to witness a significant growth owing to rising use of silver based additive. Silver being known to restrict microbial growth and symbolic properties like non-toxicity, durability, environmental friendliness, & good thermal stability is increasing its application as an antimicrobial agent.

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Application Insights
In 2015, the demand for this additive was at peak at about 18.3 kilo tons. Increasing demand for these products due to rise in use of plastics as substitute instead of the conventional materials like metal and glass in may medical instruments such as aesthetic machines, medical ventilators, electrocardiograph and heart and lung machines is likely to propel the use of these products. These products find applications in paint and coating as they help in limiting the growth of microbes on metal and wall surfaces, that may substantially damage the surfaces. The rising demand for such antimicrobial paints and coatings in construction and automotive sectors is expected to drive the industry growth in the comings years.

End-use Insights
Owing to growing usage of hygiene products and medical equipment in Asia Pacific, healthcare sector is foreseen to witness substantial amount of growth in revenue at a CAGR of 7.5% during 2016 to 2025. The increasing demand for additives for coating medical devices such as CT scanners, infusion pumps, X-ray machines, dialysis machines, medical imaging machines is projected to augment market development. These additives are mainly used in plastics which is further utilized in various electronic applications. Focus on enhancing durability of electronic equipment will probably trigger the antimicrobial additives market over the forecast period.

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Regional Insights
Asia Pacific dominates the overall demand with a market penetration of around 35% in 2015. The region is also expected to witness marginal growth in its market share owing to increasing packaging, healthcare, automotive and construction industries. Presence of many coatings & paints manufacturers such as BASF, AkzoNobel, Nippon Paint, Sherwin-Williams, and Kansai Paint in the region will probably trigger the market growth. The U.S. market is expected to observer significant gains both in terms of volume as well as revenue on account of increasing usage of antimicrobial additives in packaging. The regional market is expected to witness a CAGR of 7% from 2016 to 2025, in terms of revenue.

Competitive Insights
The global antimicrobial additives market is oligopolistic in nature with presence of numerous key players in Europe and North America. Key players operating in the market include BASF SE, BioCote Limited, SteriTouch Limited, Momentive Performance Material Inc., Dow Chemical Company, Nanobiomatters Industries S.L., A. Schulman Inc., Plastics Color Corporation, Sanitized AG, Microban International, Life Material Technologies Limited, AkzoNobel N.V., RTP Company, Milliken Chemical, and Clariant. In early 2017, Microban relaunched its textile division in the Europe. This is expected to aid the organization to operate in close collaboration with the new as well as existing partners worldwide.