Plastic Contract Manufacturing Market Report 2022-2027: Share, Size And Trends

The latest research study “Plastic Contract Manufacturing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global plastic contract manufacturing market size reached US$ 32.4 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 44.52 Billion by 2027, exhibiting a CAGR of 5.30% during 2022-2027.

Plastic contract manufacturing represents the process of producing plastic by hiring a third-party firm to create components or final products. In this method, the contact manufacturers determine the design, raw materials, amount of time required, certification needs, etc., to develop and customize the products according to the respective requirements. The plastic contract manufacturing procedure ensures cost-effectiveness, saves time, and improves the supply chain performance of the producer. It also saves an organization from investing in new machinery, tools, and staff training procedures. Consequently, plastic contract manufacturing finds extensive applications across numerous sectors, including consumer goods and appliances, medical, aerospace, defense, automotive, etc.

Plastic Contract Manufacturing Market Trends:

The rising demand for consumer electronics, such as computers, televisions, smartphones, wearable devices, laptops, cameras, and video recorders, is primarily driving the plastic contract manufacturing market. Besides this, the growing usage of plastics, including polyvinylchloride (PVC), polyethylene (PE), polypropylene (PP), etc., in the manufacturing of medical devices is acting as another significant growth-inducing factor.

Additionally, the increasing awareness towards the advantages of contract manufacturing, such as integrated designs, rapid prototyping, reduced cost of plastic production, streamlined production trials, etc., is also positively influencing the market growth. Moreover, the elevating need for plastics in the automobile industry to manufacture interior and exterior furnishes, chassis, power trains, electrical components, etc., is expected to propel the plastic contract manufacturing market over the forecasted period.

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Plastic Contract Manufacturing Market 2022-2027 Competitive Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Major Players Covered:

· Baytech Plastics Inc.

· C&J Industries

· EVCO Plastics

· Genesis Plastics Welding

· Gregstrom Corporation

· Inzign Pte. Ltd.

· Mack Group

· McClarin Composites

· Nolato AB

· Plastion Industries Inc.

· RSP Inc.

Key Market Segmentation:

The report has segmented the market on the basis of product, process, application and region.

Breakup by Product:

• Polypropylene
• ABS
• Polyethylene
• Polystyrene
• Others

Breakup by Process:

• Injection Molding
• CNC Machining
• 3D Printing
• Others

Breakup by Application:

• Consumer Goods and Appliances
• Medical
• Aerospace and Defense
• Automotive
• Others

Breakup by Geography:

• North America

• Asia Pacific

• Europe

• Latin America

• Middle East and Africa

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Key highlights of the report:

• Market Performance (2016-2021)

• Market Outlook (2022- 2027)

• Porter’s Five Forces Analysis

• Market Drivers and Success Factors

• SWOT Analysis

• Value Chain

• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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