SEATTLE, Sept. 21, 2017 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global injection molding market was valued at US$ 212.82 million in 2016 and is projected to witness a CAGR of 6.0% over the forecast period (2017-2025). The increasing trend of lightweighting of vehicles to achieve enhanced fuel efficiency is leading to burgeoning growth of the injection molding market. Also, the consumer inclination towards aesthetically appealing products in packaging industry, such as containers, cups, frozen food packaging, bakery packaging, and ready meal packaging are fueling market growth.
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https://www.coherentmarketinsights.com/market-insight/injection-molding-market-751
Key Trends and Analysis of the Injection Molding Market:
Packaging and automotive end-use industries collectively account for the largest market share in injection molding market as these help produce lightweight and highly durable components. In packaging industry it is used for manufacturing caps and closures and rigid bulk packaging. In automotive industry, injection molding is used for manufacturing various components such as clusters with in-molded chrome rings, lenses and faceplates, interior armrests, interior bezels, radio control, hinged electronic sensor modules, and trim panel splash guards.
Key Market Takeaways: