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Plastic Contract Manufacturing Market 2021 Breakdown Data By Product, By Application, Regional Outlook and Forecast 2021 to 2030

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The global Plastic Contract Manufacturing market size is expected to reach over US$ 50.85 billion by 2030 from at US$ 30.61 billion in 2020, growing at a CAGR of 6.6% from 2021 to 2030.

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What are the Growth Factors?

Increasing usage of plastics, such as polystyrene, polyethylene, polypropylene, and polyurethane, in household appliances is expected to fuel the market growth. Due to the COVID-19 pandemic, many countries were in lockdown, due to which various companies across the globe have adopted work-from-home culture from March 2020. Several companies are planning to adopt the work-from-home culture permanently, due to which, the demand for home appliances and electronics products is rising rapidly. This, in turn, is expected to benefit the market growth over the forecast period.

Plastic is required by various end-use industries due to which, several end-users prefer to outsource plastic components as it reduces their production cost. This is expected to drive market growth over the forecast period. Polypropylene and polyethylene are increasingly being used for the production of medical devices. The growing demand for improved healthcare facilities and the rising number of hospitals have augmented the growth of the medical devices sector worldwide. The growing sales of medical devices are expected to be beneficial for the market growth.

Report Coverage

Report Scope Details
Market Size US$ 50.85 Billion by 2030
Growth Rate CAGR of 6.6% From 2021 to 2030
Base Year 2021
Forecast Period 2021 to 2030
Segments Covered Product, Application
Regional Scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Companies Mentioned McClarin Plastics, LLC; EVCO Plastics; C&J Industries; Plastikon Industries, Inc.; RSP, Inc.; Mack Molding; Tessy Plastics; Inzign Pte Ltd.; Genesis Plastics Welding; Baytech Plastics; Gregstrom Corp.; Nolato AB; Natech Plastics, Inc.; PTI Engineered Plastics, Inc.; Rosti Group AB, Inc

By Product Analysis

The Polypropylene (PP) segment led the market and accounted for 34.3% of the global revenue share in 2020. Polypropylene is majorly used for manufacturing components in medical and automotive applications.

Polyethylene (PE) is used in various applications including toys, milk bottles, shampoo bottles, pipes, houseware, reusable bags, trays, containers, and packaging films.

The ABS product segment is estimated to witness the fastest CAGR during the forecast period. ABS is a polymer, which provides chemical & impact resistance, strength, and chemical inertness.

Polystyrene is generally available in three forms including Expanded Polystyrene (EPS), High Impact Polystyrene (HIPS), and General-Purpose Polystyrene (GPPS).

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By Application Analysis

The consumer goods & appliances segment led the market and accounted for 28.2% of the global revenue share in 2020. Rising dependency on household appliances, owing to the increasing working population, coupled with increasing disposable income levels, is expected to drive the demand for these appliances, propelling the segment growth.

The medical application segment is expected to grow at the fastest CAGR of 8.2% during the forecast period. Increasing utilization of catheters in the medical sector in several applications, such as angiography, cardiac electrophysiology testing, angioplasty, and administration of intravenous fluids, is expected to drive the product demand. In the aerospace industry, plastics are used for various applications including aerostructure, components, equipment, system & support, cabin interiors, propulsion systems, satellites, and insulation components.

By Regional Analysis

Asia Pacific led the market in 2020 accounting for over 44.1% of the global revenue share and is estimated to register the fastest CAGR over the forecast period. The region is the largest manufacturer as well as consumer of plastics.

The market in Central & South America is estimated to expand at a CAGR of 6.8% during the forecast period owing to significant growth in the appliances and consumer goods industry over the past few years as a result of the high investments in the manufacturing sector of the country. This is likely to have a positive impact on regional market growth.

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Key Players

  • McClarin Plastics, LLC
  • EVCO Plastics
  • C&J Industries
  • Plastikon Industries, Inc.
  • RSP, Inc.
  • Mack Molding
  • Tessy Plastics
  • Inzign Pte Ltd.
  • Genesis Plastics Welding
  • Baytech Plastics
  • Gregstrom Corp.
  • Nolato AB
  • Natech Plastics, Inc.
  • PTI Engineered Plastics, Inc.
  • Rosti Group AB, Inc.

Market Segmentation

  • By Product
    • Polypropylene
    • ABS
    • Polyethylene
    • Polystyrene
    • Others
  • By Application
    • Medical
    • Aerospace & Defense
    • Automotive
    • Consumer Goods & Appliances
    • Others
  • Regional
    • North America
      • U.S.
      • Canada
      • Mexico
    • Europe
      • Germany
      • France
      • Italy
      • U.K.
      • Spain
    • Asia Pacific
      • China
      • India
      • Japan
      • South Korea
      • Australia
    • Central & South America
      • Brazil
      • Argentina
    • Middle East & Africa
      • Saudi Arabia
      • UAE

The Plastic Contract Manufacturing market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Plastic Contract Manufacturing market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Plastic Contract Manufacturing market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Plastic Contract Manufacturing market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Plastic Contract Manufacturing market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Plastic Contract Manufacturing capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Plastic Contract Manufacturing by regions (countries) and application.

Reasons to Purchase this Report:

– Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
– Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
– Market value USD Million and volume Units Million data for each segment and sub-segment
– Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
– Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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Steve Robber

My name is Steve Robber, I’m the Owner of Market Stats News. Steve has served in many positions at various organizations for the past seven years. Currently he is an Author at Finance.Yahoo. Contact us for a free news publication, we look forward to speaking with you!

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