The Global Injection Molding Machine Market is estimated to reach USD 20.5 Billion by 2025 at a CAGR of 4.1%, says forencis research (FSR).
Injection molding is the technique used for manufacturing various parts through introducing or injecting the molten material into the mold. It is emerged as the crucial and versatile technique which possess capability to produce the complicated parts in a range of complex shapes, size and materials. The injection molding machine also known as injection press, carries out the injection molding process. It is capable of producing bottle caps, automotive parts, industrial components, toys, musical instruments, medical components, and storage containers among others.
Injection Molding Machine Market: Drivers & Restraints
Rising in demand for bio plastics
Since years, the injection molding technology has emerged as the novel technique for production and molding of the plastics. Plastics has gained attention from all industrial domain owing to light weight, durable, flexible, and versatile material. The growth of the injection molding machine market can be attributed to the rising demand for plastics across the globe. As per European Bioplastics, the production capacities dedicated for bioplastics is projected to escalate till 2,616 thousand tons by 2023 owing to soaring demand for bio plastics. Hence, the demand of the bio plastics, is projected to boost the market growth in the years to follow.
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Increasing Demand of Injection Molding from Packaging Sector
The demand injection molding technology for the packaging application is growing consistently owing to the increasing demand for more efficient, durable, easy to handle packaging solutions. Growing demand for sustainable packaging is the prominent factor driving the market growth. The changing consumer demands and preferences, advancement in packaging designs and patterns to boost convenience, rising adoption of advanced packaging materials has driven the growth in the packaging sectors, which is further expected to drive the injection molding machine market during the forecast period.
High Set Up and Maintenance Cost
Injection molding machine market is growing due to various advantages associated with the injection molding machine. However, the growth of this market is hampered owing to high set up and maintenance cost. The high cost is associated with the mold used, which is crafted from metals such as steel and aluminium. As each mold is a complex piece, and requires specification that makes it expensive, this escalates the overall cost of the injection molding machine. Also, large mold requires additional injection press that increases the overall price of the injection molding machine. The high set up and maintenance cost of the injection molding machine is anticipated to act as a roadblock for the market growth.
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Injection Molding Machine Market: Key Segments
- Key Segments by Type: Hydraulic Injection Molding Machine, Mechanical Injection Molding Machine, Electric Injection Molding Machine and Hybrid Injection Molding Machine
- Key Segments by Injection Molding Material: Polymers and Metals
- Key Segments by Application: Packaging, Electronics, Consumer Goods, Automotive, Healthcare and Others
- Key Regions Covered: North America, South America, Europe, Asia-Pacific, Middle East & Africa and South America, with individual country-level analysis.
List of the leading companies operating in the Injection Molding Machine market include:
- ENGEL Austria GmbH (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- Ferromatik Milacron GmbH
- KraussMaffei Group
- Sumitomo (SHI) Demag Plastics Machinery GmbH
- Arburg GmbH + Co KG
- Nissei Plastic Industrial Co., Ltd.
- Negri Bossi S.P.A.
- The Japan Steel Works
- Husky Injection Molding Systems Ltd.
- Haitian International Holdings Limited
- Other Key Companies
Injection Molding Machine Market: Report Segmentation
For the scope of report, In-depth segmentation is offered by Forencis Research
Injection Molding Machine Market, by Type
- Hydraulic Injection Molding Machine
- Mechanical Injection Molding Machine
- Electric Injection Molding Machine
- Hybrid Injection Molding Machine
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Injection Molding Machine Market, by Injection Molding Material
Injection Molding Machine Market, by Application
- Consumer Goods
Injection Molding Machine Market by Region
- Asia-Pacific (China, Japan, South Korea, India, Taiwan, Rest of Asia-Pacific)
- North America (US, Canada, Mexico)
- Europe (Germany, Russia, France, Italy, UK, Spain, The Netherlands, Rest of Europe)
- Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East & Africa)
- South America (Brazil, Argentina, Rest of South America)
Key Questions answered by the report
- What are the major developments impacting the global market and its growth?
- What will be the effects of the developments in the global market on the industry and on the market players in the near and far future?
- What are the evolving types of the global market?
- What are the evolving applications of global market?
- What are the major characteristics that will affect the global market growth during the study period?
- Who are the key players operating in the global market?
- How are the major players leveraging in the existing market conditions?
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