Injection Molded Plastics Market Size

Injection Molded Plastics Market size was valued at USD 341.9 billion in 2024 and is expected to cross USD 603.07 billion by the end of 2037, registering more than 4.6% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of injection molded plastics is estimated at USD 354.21 billion. The market has expanded globally due to factors such as cost-effectiveness, design flexibility, innovative materials, technological improvements, and increased awareness of sustainability. Additionally, the growing need from a variety of end-use industries, including consumer goods, automotive, packaging, electronics, and medical devices, is driving up the need for injection molded plastics. For instance, Canada is home to one of the top 12 manufacturers of light vehicles worldwide. Five major OEMs, Stellantis, Ford, GM, Honda, and Toyota, build almost 1.4 million cars annually at their Canadian operations. Nearly 700 vendors, including domestic Tier 1 companies like Magna, Linamar, and Martinrea, provide parts to these operations. Furthermore, one of the five machine-tool-die-and-mould (MTDM) manufacturing clusters in located in Canada.

In addition to these, the Canadian government's overarching plan to tackle pollution, reach its target of having no plastic waste by 2030 and reduce greenhouse gas emissions includes the Single-use Plastics Prohibition Rules (SUPPR). Producing, importing, and selling single-use plastic checkout bags, flatware, and food service equipment made with problematic plastics, stir sticks, rings, and straws are all prohibited by the Rules. Manufacturers of injection-molded plastic may find new markets if single-use plastics are banned. There may be a rise in demand for biodegradable and compostable materials that can be made using injection molding as organizations and governments search for substitutes for single-use plastics.