Mastio & Company’s most recent Injection Molding Markets Study is
projecting respectable growth for injection molded packaging for 2010. This
year, the North American market is projected to reach an estimated total of 8.5
billion lb of resin. With an average annual growth rate (AAGR) of 4.6%, molders
interviewed for this study predicted they will be consuming 9 billion lb of
resin in 2010.
Growth in this area is determined primarily by the economy, food costs, and
the products being packaged. Consumer spending represents the basic source of
demand. Participants in this market believe the economy is starting to improve
and will increase demand for single-use, disposable packaging.
When the economy is slow, consumers have less buying power and cut back on
outdoor activities and purchases. They travel less and tend to prepare more
meals at home, thus increasing sales of food products packaged in consumer-sized
containers. When the economy is strong, consumers tend to increase dining in
restaurants, thereby increasing demand for commercial and institutional food
packaging. However, in this still-sluggish economy, expenditures for dining out
are typically the first budget item trimmed by consumers.
Study shows modest growth in most injection molded packaging segments during
the last quarter of 2009 and throughout 2010. The largest market and area of
highest growth is bottle preforms for stretch-blow molding. They consumed 4.6
billion lb of resin in 2009. Since the economy is improving and there is ongoing
conversion from glass to plastic in liquor and liquid food packaging, preform
molders anticipate growth of 7.6% annually. New multi-layer and high-barrier
perform technology will contribute to additional PET bottle applications for
beer, wine, and liquor.
Lids, caps, closures, overcaps, and packaging dispensers were the second
largest market at 1.6 billion lb. Demand growth here is expected to hover around
4% AAGR through 2010. It depends on several factors—growth of the end-use
market, new closure designs, energy costs, resin prices, and production moving
overseas. Also, lower-cost compression molding has made inroads into caps and
closures. According to participants in this market, nearly one-third of caps are
now compression molded.
Molders of pails consumed about 876.7 million lb of resin in 2009. This
business is expected to have a slow AAGR of 2.2% through 2010. Several
processors say the pail market grows in proportion to new housing starts, which
have been depressed. However, new pail designs and more remodeling of existing
homes are helping to maintain growth.
Molders of food packaging gobbled up nearly 357.5 million lb in 2009, and are
expected to realize AAGR of 5.8%. Consumers have been eating at home more and
preparing their own lunches in response to the slower economy, increasing growth
in this sector.
Cosmetic and personal-care containers accounted for 188.6 million lb of
resin, an amount expected to grow modestly at 3.1% through 2010, primarily due
to new package designs.
Pharmaceutical vials swallowed 174.3 million lb of resin in 2009, and AAGR is
expected to be 3%. With increasing growth in the senior population, and most
consumers not cutting back on healthcare, these products should continue to
prosper.
Materials-handling and shipping containers used 629.1 million lb this year
and are expected to grow 6.6% annually. They should continue to displace
corrugated paperboard, wood, and metal.
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