Molded Plastics Market - Global Forecast, Market
Share, Size, Growth and Industry Analysis, 2013 - 2019
92 Page Report
Flourishing Automotive Industry and Demand for Lightweight
Electronics Fuel Growth of Molded Plastics Market, reports
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Molded Plastics Market
Molded Plastics Market - Global Forecast, Market Share, Size, Growth and Industry Analysis, 2013 2019
The global molded plastics market is dominated by companies such as BASF, Chevron Phillips Chemical
Company LLC, Eastman Chemical Company, and Huntsman International LLC, states Transparency Market
Research (TMR). However, the market is marked by a high degree of fragmentation due to the presence of a
large number of local players in each region.
“Business expansion in Asia Pacific is one of the key growth strategies that top players in this market are
focused on,” says a TMR analyst. For example, BASF has formulated a strategy called Asia Pacific Strategy
2020, which is aimed at expanding the company’s business in Asia Pacific. The strategy involves increasing
the R&D personnel in the region from 800 in 2012 to 3,500 by 2020. Such developments will lead to other
companies following suit in devising similar strategies.
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Investments for facility improvements is also a major growth model for key players in this market. This involves
upgrading process controls, automation, and extrusion technology for increasing the overall production
capacity. Acquisitions and joint ventures are also on top of the growth plans of key players in this market. This
is aimed for the...