Global Plastic Contract Manufacturing Market is valued USD XXX billion in 2016 is anticipated to grow USD XXX billion with the compounded annual growth of XX% over the forecast period 2018-2025.
New York 21 Aug 2018, As per the new research study conducted by Bizwit Research & Consulting, Global Plastic Contract Manufacturing Market industry is poised to raise USD XXX billion by 2025. The rise is expected to be fueled by the global economic recovery leading to an increase in the healthcare spending. In addition, the growing need for better healthcare services for the aging population, infrastructure improvements, and technological advancements are expected to drive growth of medical devices market, thereby leading to an increase in the demand for plastic contract manufacturing. Contract manufacturing provides three major benefits for any business which includes knowledge base, offloading of work, and cost saving. Plastic contract manufacturers work along with the customer to determine the raw material, time requirement, design specifications, and certification requirement. Manufacturers offer customization and develop products as per specific size, design, and quantity requirements. Outsourcing a certain part of the production process leads to reduced cost for end-users.
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Global Plastic Contract Manufacturing Market Size study, by Product (Polypropylene, Acrylonitrile Butadiene Styrene (ABS), Polyethylene, Polystyrene), by Application (Medical, Aerospace &Defense, Automotive Consumer Goods & Appliances), and by Regional Forecasts 2018-2025
The industry is seeming to be competitive. Some of the leading market players McClarin Plastics, LLC, EVCO Plastics, C&J Industries, Plastikon Industries, Inc, RSP, Inc., Mack Molding, Tessy Plastics Corp., Inzign Pte Ltd., Genesis Plastics Welding, GW plastics.Inc and so on. The fierce competitiveness has made these players spend in product developments to improve the customer’s requirements.
Key findings of the study:
- Asia Pacific was the leading market and accounted for 42.4% of the total revenue in 2016. Asia Pacific is the largest manufacturer as well as consumer of plastics worldwide.
- Abundant raw material availability, cheap labor cost, land availability, and high domestic demand are the key factors influencing the manufacturing sector in Asia Pacific
Bizwit Research & Consulting LLP has considered following segments for the study:
- Acrylonitrile Butadiene Styrene (ABS)
- Aerospace & Defence
- Consumer goods & Appliances
- North America
- Asia Pacific
- Latin America
- Rest of the World