The plastic contract manufacturing market is segmented by type (polypropylene, acrylonitrile butadiene styrene (ABs), polyethylene, and others), end-user (consumer goods, automotive, medical, and others), and geography (APAC, North America, Europe, South America, and Middle East and Africa). Increasing demand for bio-based plasticizers is the major plastic contract manufacturing market trend which will positively influence the market value.
The plastic contract manufacturing market share will value over USD 11,818.05 million by 2027
It is estimated to expand at a CAGR of 11.22% from 2022 to 2027
The plastic contract manufacturing market size will witness a YOY growth rate of 9.32% in 2023
Browse Technavio's 167-page report and in-depth TOC on "Plastic Contract Manufacturing Market by type (polypropylene, acrylonitrile butadiene styrene (ABs), polyethylene, and others), end-user (consumer goods, automotive, medical, and others), and geography (APAC, North America, Europe, South America, and Middle East and Africa).
View detailed Table of Contents Here: https://www.technavio.com/report/plastic-contract-manufacturing-market-industry-analysis?v1
The increasing demand for bio-based plasticizers is an emerging trend in the market. Petrochemical-based plasticizers, such as phthalates, are crucial in the manufacture of plastics, especially PVC. Phthalates-based plasticizers dominate the global plasticizer market. The growth in end-user industries in emerging nations, such as India and China, is likely to drive the growth of the bio-plasticizer market during the forecast period.
As food is a perishable product, its contamination during storage is a major concern of the food industry. The nutrients present in food can be prevented to a certain extent by using appropriate packaging material, which will also extend the shelf life of the food product. This encourages various vendors to offer rigid plastic packaging to enterprises in the food and beverage industry, which in turn drives the demand for plastic contract manufacturing.
Some of the major plastic contract manufacturing market vendors are:
Technavio's research report provides insights into the top market player and their product portfolio along with pipeline analysis of upcoming developments and growth opportunities. Download the Free PDF Sample Report
The concerns related to the use of medical plastics are the major hindrance for market players.
The plastic contract manufacturing market structure is fragmented in nature.
38% of plastic contract manufacturing market growth will develop from APAC.
The market growth by the polypropylene segment will be significant during 2023-2027 owing to the strength and lightweight is expected to drive the growth of the market in focus during the forecast period.
