Market Dynamics:
The injection molding materials market is driven by the rising usage of these materials in the automotive industry for manufacturing various components such as interior and exterior automotive parts, doors and window panels, bumpers, air filters and others. In addition, injection molding provides design flexibility, is highly productive and delivers intricate details, which has resulted in its increased adoption over die-casting and other similar processes. However, fluctuations in raw material prices remain a key challenge for manufacturers in this market. Industry players are focusing on developing bio-based and recycled injection molding materials to cater to the increasing demand for environmentally friendly products.
Key Takeaways
The Global Injection Molding Materials Market Size is expected to witness high growth, exhibiting a CAGR of 5.5% over the forecast period, due to increasing demand from the automotive and packaging industries.
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