SWOT Analysis
Strength: Injection molded plastics are cost-effective for mass production processes as the molds can be reused for many cycles. They offer design flexibility and precision as complex geometries can be created. Molded parts have a uniform structure and sharp details.

Weakness: Changes to the design or prototypes require new molds to be produced, resulting in high setup costs. Plastic materials have limitations in terms of heat resistance, durability, and strength compared to other materials.

Opportunity: The growing demand for lightweight and durable components from industries such as automotive, packaging, and electronics drives the market. Rapid customization and mass production capabilities increase the application scope.

Threats: Prices of raw materials fluctuate frequently affecting production costs. Growing environmental concerns regarding non-biodegradable plastics may lead to regulations. Advances in 3D printing enable low-volume customized production.

Key Takeaways
Global Injection Molded Plastics Market Size is expected to witness high growth. The market size is projected to reach US$ 314.92 Mn by 2024 from US$ 247.77 Mn in 2019, registering a CAGR of 5.4% during the forecast period.

Regional analysis: North America dominates the global market currently due to the large automotive and packaging industries. However, Asia Pacific is expected to be the fastest-growing region stimulated by increasing domestic demand and low-cost manufacturing hubs in China, India, and Southeast Asian countries.

Key players: Major companies operating in the injection molded plastics market include GE Healthcare, Bruker Corporation, Fujifilm Holdings Corp., Siemens Healthineers, Koninklijke Philips N.V., Asahi Kasei Corporation, LG Chem, Mitsubishi Chemical Holdings Corporation. They focus on capacity expansions, mergers, and new product launches catering to application-specific requirements.

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