According to TechSci Research report, “India Plastic Molding Market – By Region, Competition Forecast and Opportunities, 2018-2028″, The Indian plastic molding market is anticipated to grow significantly in the projected period, 2023-2028. The Plastic molding market is expected to increase due to the clothing, housing, construction, furniture, automobiles, household items, agriculture, horticulture, irrigation, packaging, medical appliances, and electronics. 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. The above data indicate the uses of plastic in India and the opportunity to increase market share due to India’s growing population and economic development. Plastic is widely accepted in the market due to characteristics such as low price, durability, heat resistance, feasibility, and short time consumption in the production of the final product.
Market Drivers
Technological Advancements
Technological innovations and advancements in plastic molding techniques are key drivers of market growth. These advancements have led to increased efficiency, reduced costs, and the ability to produce complex designs with high precision. Innovations such as 3D printing, automation, and new molding technologies are transforming the industry, enabling the production of high-quality molded plastic products.
Expanding End-User Industries
The demand for plastic molded products is growing across various industries, including automotive, electronics, packaging, healthcare, and consumer goods. The automotive sector, in particular, is a significant contributor due to the increasing use of lightweight plastic components to improve fuel efficiency and reduce emissions. Similarly, the electronics industry relies on plastic molding for manufacturing various components and devices.
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The Indiaplastic molding market is segmented based on type, resin type, and end-user type.
Market Segmentation
By Type
- Injection Molding
- Blow Molding
- Compression Molding
- Rotational Molding
- Others
By End-User Industry
- Automotive
- Electronics
- Packaging
- Healthcare
- Consumer Goods
- Others
By Region
- North India
- South India
- East India
- West India
Key Trends and Opportunities
Sustainability and Eco-friendly Practices
With increasing environmental concerns, there is a growing trend towards sustainable and eco-friendly plastic molding practices. Companies are investing in biodegradable and recyclable materials, as well as energy-efficient production processes, to reduce their environmental footprint. This trend is expected to create significant opportunities for growth in the market.
Automation and Smart Manufacturing
The adoption of automation and smart manufacturing technologies is transforming the plastic molding industry. Automated processes enhance precision, reduce labor costs, and increase production speed. Smart manufacturing, which involves the integration of IoT and AI, enables real-time monitoring and optimization of the production process, leading to improved efficiency and product quality.
Rising Demand in Healthcare
The healthcare industry is experiencing a surge in demand for plastic molded products, such as medical devices, surgical instruments, and packaging. The COVID-19 pandemic has further accelerated this demand, highlighting the importance of reliable and high-quality plastic components in healthcare applications. This trend is expected to drive significant growth in the market.
Competitive Landscape
Major companies operating in the India Plastic Molding Market include:
- Sumi Motherson Group
- Machino Plastics Ltd.
- Time Technoplast Ltd.
- Dalmia Polypro Industries Ltd.
- Sintex Plastics Technology Ltd.
- Mold-Tek Packaging Ltd.
- VIP Industries Ltd.
- National Plastics Group
- Bright Brothers Ltd.
- Shaily Engineering Plastics Ltd.
The India Plastic Molding Market is poised for significant growth in the coming years, driven by technological advancements, expanding end-user industries, and emerging trends in sustainability and automation. The market offers numerous opportunities for companies to innovate and expand their product offerings, catering to the evolving needs of various industries.
Major companies operating in IndiaPlastic molding market are:
- 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
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” The Gujrat region is expected to dominate India’s plastic molding market in the coming years due to its favorable state government investment policy, skilled resources, and different manufacturing eco-system. The Plastic Molding Market is anticipated to increase due to the growing demand for clothing, housing, construction, furniture, automobiles, household items, agriculture, horticulture, irrigation, packaging, medical appliances, electronics, and others. According to Statista, in 2022, Almost 1.5 million metric tons of Plastic will be produced across India volume-wise, and developments predict that it will grow in the projected year. Hence, we can expect that the growing demand for the plastic market will influence the growth of plastic molding. The firms and communities are taking steps and replacing drawbacks affecting the plastic market growth through research and development. Thus, the requirement for Plastic molding will increase in the forecasted year for packaging and operation purposes as it decreases its side effect on the environment.
Plastic base products such as containers, sheets, products, and tools will be more in demand due to their low price, durability, heat resistance, feasibility, and short time is taken in the production process, making Plastic more demanded in industries. Technological improvement, collaboration, and acquisition are the managerial decisions to gain an advantage in the desired market. On growing demand for automobiles worldwide, infrastructural projects developing in the region, and public awareness are the factor in boosting the market. All the factors mentioned above are projected to impact market growth and create favorable conditions to push the India Plastic molding market growth till 2028.” said Mr. Karan Chechi, research director with TechSci research, a research based global management consulting firm.
“IndiaPlastic 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 Company, By Region, Competition Forecast and Opportunities, 2028, has evaluated the future growth potential of IndiaPlastic molding market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in IndiaPlastic molding market.”
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