Healthy prospects for injection molded packaging.* Although many injection molding injection molding n. A manufacturing process for forming objects, as of plastic or metal, by heating the molding material to a fluid state and injecting it into a mold. markets have seen growth rates Growth Rates The compounded annualized rate of growth of a company's revenues, earnings, dividends, or other figures. Notes: Remember, historically high growth rates don't always mean a high rate of growth looking into the future. decline in the face of production shifts overseas and soaring resin costs, producers of injection molded packaging are optimistic about growth in 2005. In 2004, North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. injection molded packaging reached 7.4 billion lb, approximately 35% of total injection molded resin consumption. With an average annual growth rate (AAGR AAGR Average Annual Growth Rate AAGR Air-to-Air Gunnery Range ) of 8.6%, this market will reach 9.4 billion lb by 2007. Mastio and Company's Injection Molding Market Study defines injection molded packaging to include consumer food containers, institutional and commercial food-service packaging, lids, caps, closures, overcaps, preforms, packaging dispensers, pails, pharmaceutical vials, and cosmetic and personal-care packaging. PET represents half the total resin poundage POUNDAGE, practice. The amount allowed to the sheriff, or other officer, for commissions on, the money made by virtue of an execution. This allowance varies in different states, and to different officers. for injection molded packaging. HDPE HDPE abbr. high-density polyethylene and PP are nearly 18% and 20% of the market, respectively. PP is commonly utilized in lids and consumer food containers, while HDPE predominates in pails. Resistant to outsourcing The largest and fastest growing market sector is injection molded bottle preforms, representing 3.8 billion lb of resin. With the economy improving and the ongoing conversion from glass to plastic for liquid foods, the preform pre·form tr.v. pre·formed, pre·form·ing, pre·forms 1. To shape or form beforehand. 2. To determine the shape or form of beforehand. n. 1. market is looking forward to double-digit growth of 10.1% annually. New multi-layer and high-barrier preform technology is contributing to additional PET bottle applications. On the other hand, compression molding has made inroads inroads Noun, pl make inroads into to start affecting or reducing: my gambling has made great inroads into my savings inroads npl to make inroads into [+ against injection molding for preforms, lids, caps, and closures. Compression molding boasts lower production costs, improved efficiency, and lower material cost per unit. According to one major processor, the PET preform market will grow by 35 billion units during the next four to five years, one-third of that by compression molding. Lids, caps, closures, overcaps, and packaging dispensers are the second largest sector of injection molded packaging, accounting for 1.7 billion lb. This sector will average around 7% AAGR through 2007. Pails accounted for about 875 million lb in 2004 and are slated for 6% AAGR through 2007. Processors say this market's growth tracks those of the GDP GDP (guanosine diphosphate): see guanine. and housing starts. New pail designs, such as rectangular shapes that offer easier storage, keep this market on the upswing. Consumer food containers consumed nearly 580 million lb during 2004 and are expected to have a healthy AAGR of 10%. Injection molded food service includes a variety of products but the packaging portion represents only around 25% of the 154 million lb total. Several factors are helping food-service packaging retain a steady 5.3% AAGR. Consumers have less time to cook, and they eat out more often (encouraged by an improving economy) or bring home more take-out food. New developments in vending machine technology are also expected to benefit this market. Injection molded cosmetic and personal-care containers account for 230 million lb of consumption and are favored for their shatter resistance, eye-catching designs, and light weight vs. glass. Growth will be 6%/yr. Pharmaceutical vials consumed 90 million lb 2004 and are expected to grow 7.5% annually. With an aging population, this sector will continue to prosper. New diagnostic tools, such as test strips for blood glucose blood glucose Diabetology The principal sugar produced by the body from food–especially carbohydrates, but also from proteins and fats; glucose is the body's major source of energy, is transported to cells via the circulation and used by cells in the presence detection and urine specimen testing, have increased the need for containers to hold the diagnostic strips. Another strong growth area is nutritional supplements Nutritional Supplements Definition Nutritional supplements include vitamins, minerals, herbs, meal supplements, sports nutrition products, natural food supplements, and other related products used to boost the nutritional content of the diet. .
GROWTH RATES FOR INJECTION MOLDED
PACKAGING TO 2007
% Annual Growth
Preforms 10.1
Consumer Food 10.0
Pharm. Vials 7.5
Lids & Caps 7.0
Pkg. Dispensers 7.0
Pails 6.0
Cosmetic/PC 6.0
Food Service 5.3
Misc. Rigid Pkg. 3.0
Note: Table made from bar graph.
Mastio & Company, based in St. Joseph, Mo., is a consulting firm specializing in industrial-consumer opinion research and market trends in the plastics industry. For more information, call (816) 364-6200 or visit www.mastio.com/pt/outlook.html. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion