The global molded plastic market size was valued at USD 187.76 billion in 2023 and is projected to reach USD 348.10 billion by 2032, growing at a compound annual growth rate (CAGR) of 7.10% during the forecast period. This substantial growth underscores the increasing demand across multiple industries, from automotive to packaging, where molded plastics have become indispensable due to their versatility, durability, and cost-effectiveness.
Molded plastics are engineered through various processes such as injection molding, blow molding, and thermoforming, making them essential for manufacturing components across different sectors. The rising emphasis on lightweight materials in automotive production and the booming e-commerce sector, which requires robust yet economical packaging solutions, are key factors propelling the industry forward.
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