injection molding machine market is expected to reach USD 25.23 billion by 2032, growing at a CAGR of 3.7%

VANCOUVER, BRITISH COLUMBIA, CANADA, June 20, 2024 /EINPresswire.com/ -- The global injection molding machine market is expected to reach USD 25.23 billion by 2032, growing at a CAGR of 3.7%. This growth is fueled by the increasing demand for injection-molded plastic products in various end-use sectors

Some of the factors driving the injection moulding machine market growth are the increasing demand for plastic products in various industries such as automotive, packaging, medical, and consumer goods and the technological advancements in injection moulding machines that improve their efficiency, productivity, and quality. Moreover, the rising awareness about the environmental benefits of using plastic as a substitute for other materials and the supportive government policies and initiatives that promote the adoption of injection moulding machines is leading to injection moulding machine market development.

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Market Trends and Drivers

Rising Demand for Molded Plastic Products: Injection molding machines offer a cost-effective and efficient way to produce complex plastic parts with high precision. This is driving the demand for these machines across industries.

Technological Advancements: Advancements in automation, robotics, and digitalization are leading to the development of more efficient and intelligent injection molding machines. This is improving productivity and reducing manufacturing costs.

Focus on Energy Efficiency: Manufacturers are increasingly focusing on energy-efficient injection molding machines to reduce their environmental impact and operating costs.

Growth of the Asia Pacific Market: The Asia Pacific region is expected to remain the dominant market for injection molding machines due to the presence of major manufacturing hubs in China and India.

Restraints and Challenges

Fluctuations in Raw Material Prices: The cost of raw materials used in plastic production can fluctuate significantly, impacting the profitability of injection molding operations.

Stringent Environmental Regulations: Growing environmental concerns are leading to stricter regulations on plastic use and disposal, which could pose a challenge to the market.

Growth Opportunities

Demand for Sustainable Solutions: The growing demand for sustainable solutions is creating opportunities for the development of bio-based and biodegradable plastics, which can be processed using injection molding machines.

Expansion of E-commerce: The rise of e-commerce is driving the demand for innovative and lightweight packaging solutions, which can be met by injection molding.

Advancements in Medical Plastics: Technological advancements are leading to the development of new medical devices and equipment made from high-performance plastics, which require specialized injection molding machines.

Key Market Insights

The Asia Pacific region dominated the market with a revenue share of 39.4% in 2023, driven by factors like rising healthcare demand and rapid industrialization.

In terms of clamping force, the 201-500 ton-force segment held the largest market share in 2022 due to its versatility across various industries.

Hydraulic injection molding machines continue to dominate the market, accounting for over 80% of the global revenue share in 2021, owing to their ability to handle high pressure and power.

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SWOT Analysis

Strengths:

High production efficiency and precision

Wide range of applications

Versatility in handling different materials

Weaknesses:

High initial investment cost

Complex operation and maintenance

Environmental impact of plastic production

Opportunities:

Technological advancements for efficiency and sustainability

Growing demand from emerging economies

Increasing use in medical and e-commerce applications

Threats:

Fluctuations in raw material prices

Stringent environmental regulations

Competition from alternative manufacturing processes

Latest Strategic Developments, Mergers & Acquisitions

On 3 April 2022, Westec Plastics, a leading custom injection molded for the medical and biotech industries, based in U.S., announced the addition of three new Arburg two-shot injection molding machines to its production facility. These machines include two 550-ton presses and one 275-ton press. In addition, these machines have indexing platens that help rotate the mold and receive multiple shots.

On 7 October 2021, Beacon Manufacturing Group, a leading provider of custom-engineered molded products, assembled components, innovative solutions, and value-added engineering services based in U.S, announced the acquisition of Acromatic Plastics, a company that specializes in custom, high-quality injection molding, insert molding, and structural foam

Major Companies and Competitive Landscape

The global injection molding machine market is fragmented, with large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective products. Some of the major companies included in the global injection molding machine market report are:

Arburg GmbH + Co KG

Haitian International Holdings Limited

Milacron

Nissei Plastic Industrial Co., Limited

Engel Austria GmbH

Sumitomo (SHI) Demag Plastics Machinery GmbH

Chen Hsong Holdings Limited

Husky Injection Molding Systems Ltd,

KraussMaffei Group

Phillips Machine Tools India Pvt. Ltd.

Toyo Machinery & Metal Co., Ltd.

Ved Machinery and Electronica Plastic Machines Limited

Japan Steel Works Ltd.

Electronica Plastic Machines Limited

Segments Covered in Report

For the purpose of this report, Emergen Research has segmented the global injection molding machine market on the basis of materials, technology, end-use, clamping force, and region:

Materials Outlook (Revenue, USD Billion; 2019-2032)

Plastic

Metal

Rubber

Ceramic

Others

Technology Outlook (Revenue, USD Billion; 2019-2032)

Hydraulic

Electric

Hybrid

End-use Outlook (Revenue, USD Billion; 2019-2032)

Automotive

Consumer Goods

Packaging

Electronics

Healthcare

Others

Clamping Force Outlook (Revenue, USD Billion; 2019-2032)

0-200 tons’ force

201-500 tons’ force

Above 500 tons’ force

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Country scope: U.S., Canada, Mexico, Germany, U.K., France, Spain, BENELUX, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, Israel, and Rest of MEA

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Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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