Flourishing Automotive Industry and Demand for Lightweight Electronics Fuel Growth of Molded Plastics Market, Reports Tmr

Transparency Market

Research

Molded Plastics Market - Global Forecast, Market

Share, Size, Growth and Industry Analysis, 2013 - 2019

Published Date

10-Jan-2014

92 Page Report

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Flourishing Automotive Industry and Demand for Lightweight

Electronics Fuel Growth of Molded Plastics Market, reports

TMR

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Molded Plastics Market

REPORT DESCRIPTION

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 acquiring company to expand its geographical...