- Australian equities fell on Wednesday (December 15) as cautious investors stayed away from significant wagers ahead of the result of the US Federal Reserve’s two-day policy meeting, perhaps adding to the pressure on its peers to tighten more. The S&P/ASX 200 index fell 0.7 percent to its lowest level since December 2. Following hotter-than-expected inflation estimates for November, stock markets throughout Asia tumbled in the expectation that the US central bank would stop buying assets.
The fast spread of the Omicron form is an additional complication that may cause the Fed to become less hawkish, albeit officials have previously expressed concern about inflation persistence rather than the pandemic. “The combination concern of rising virus infections and inflation has dimmed hopes of the Australian economy entering 2022 on a stable basis,” stated Kalkine Group CEO Kunal Sawhney.
On the Australian stock exchange, weakness continued across all major sub-indices, with gold and technology firms losing the most. After hitting the lowest levels since December 6 earlier in the day, tech stocks finished 2.6 percent down, matching their US rivals.
A firm that allows customers to buy now and pay later Afterpay dropped by 3.3 percent. The most significant laggards were gold stocks, which fell 2.9 percent, with Evolution Mining plunging the most in the sub-index. The miner’s shares fell 5.2 percent, its lowest level since September 28.
BHP Group and Fortescue Metals declined 0.5 percent and 0.3 percent, respectively, except Rio Tinto, which finished 0.2 percent higher. “While the RBNZ has welcomed interest rate rises for the second year in a row in 2021, rising inflationary pressures remain a source of worry for the economy,” Sawhney continued.
Australia’s stock market is being dragged down by gold and technology stocks:
On Wednesday, Australian shares sank, pulled down by losses in gold equities owing to weakening bullion prices, as technology giants followed their American counterparts lower. After finishing nearly flat the previous day, the S&P/ASX 200 index lost 0.5 percent to 7,344.80 at 2343 GMT.
Gold equities tumbled 2.4 percent as bullion prices fell about 1% overnight on fears that the US Federal Reserve will raise interest rates sooner than expected. As a rise in US producer prices confirmed expectations for sooner-than-expected interest rate rises, tech stocks fell as much as 1.9 percent, matching the Nasdaq’s lower finish overnight. Afterpay, a prominent player in the sector, was down 2.4 percent, while Altium was down 2%.
The top four banks gained between 0.7 and 0.1 percent, while financials gained 0.4 percent. Incorporate news, Wesfarmers stated it would not back a takeover deal for Australian Pharmaceutical Industries from supermarket Woolworths, in an attempt to prevent Woolworths’ competing move for the drugstore chain.
New Zealand’s benchmark stock index fell 0.6 percent to 12,847.46, placing it on track for a second straight day of losses. Governor Adrian Orr declared that the Reserve Bank of New Zealand would continue to raise the official cash rate, expecting it to rise above its neutral level eventually.
The Injection Molded Plastics Market is expected to produce $385 billion in sales by 2027, according to Global Market Insights Inc:
During COVID-19, rising demand for consumables and electronics, a burgeoning automotive industry, the growing popularity of green construction in Europe, and the greater need for medical equipment will move the injection molded plastics market forward; according to this analysis. The study examines drivers and prospects, market size and projections, swaying market trends, competitive scenario, top winning techniques, and essential investment pockets in depth.
Plastic forms or items made using injection molding are injection molded plastics. The widespread use of these polymers in various industries has aided market expansion. The automotive industry will be fueled by a growing emphasis on enhancing vehicle performance by substituting metal with plastics in the future years. Furthermore, strict rules limiting the usage of bio-based products aim to reduce dependency on crude oil in critical locations, which is expected to generate significant market potential possibilities throughout the review period.
Polypropylene has several advantages, including food-grade availability, cheap cost, excellent water resistance, and superior chemical and impact resistance, which has led to its application in home goods and cars.
The polypropylene raw material segment is predicted to increase at a CAGR of around 5% throughout the forecast period, owing to the fast expansion of the automotive, consumer electronics and appliances, and food and beverage industries.
In addition, the market for HDPE raw material injection molded plastics was valued at USD 45 billion in 2020 and is predicted to grow considerably through 2027. HDPE is a lightweight material with various properties, including exceptional electrical insulation, high strength, chemical resistance, and impermeability, all of which are likely to drive product acceptance in the next few years in the manufacturing of home items and consumables.
Consumables and electronics make for a large portion of the market in terms of application. Because of their small weight, excellent durability, and sound insulating qualities, injection molded plastics are used in consumer appliances and electronics.
Laptops, gadgets, clocks, cell phones, and calculators, among other things, all employ these plastics. Injection-molded plastics market share is expected to grow in the future, thanks to rising consumer electronics spending, particularly in emerging markets like the Asia Pacific.
By the end of 2027, the European injection molded plastics market is expected to be worth more than USD 85 billion, with a CAGR of over 4% during the evaluation period. Furthermore, because plastic can be reused, transformed, and recycled, it produces less waste following EU rules, which is expected to boost regional market prospects throughout the projection period.
The advent of COVID-19 impacted the worldwide supply chain. Still, the injection molded plastics market continued to grow steadily due to the extensive use of these polymers in a variety of sectors. Consumer demand for antimicrobial and antiviral qualities in numerous goods has soared, providing significant development opportunities for industry companies.
In addition, corporations turned their attention to producing products like personal protective equipment (PPE) and other medical equipment to meet the rising demand for these items in the healthcare sector, which aided industry uptake throughout the pandemic. To strengthen their position in the business, they have used various methods such as partnership, expansion, cooperation, joint ventures, and others.
Also Read: Market Research Report on Cloth Insulating Adhesive Tapes