Global Plastic Injection Molding Machine Market to surpass USD 13.2 billion by 2030 from USD 9.1 billion in 2020 at a CAGR of 4.6% in the coming years, i.e., 2021-30.
The growing need for injection molding machines in end-use sectors like automotive, consumer products, packaging, healthcare, electrical & electronics, and others is driving the market. The injection molding machine market will be driven by factors such as rising demand from the healthcare industry, fast industrialization in developing economies such as China, India, and Thailand, and rising need for plastic moulds in electric vehicles. Over the projected period, rapid development in the use of plastic parts in the automotive industry, owing to their lighter weight and lower cost is expected to drive the market for plastic injection molding machines. Market expansion is projected to be aided by advancements in the production of injection molding machines that can produce complicated products at fast speeds and in huge quantities.
A plastic injection molding machine is a machine that is used to inject plastic materials into moulds. An injection unit and a clamping unit are the two main components. Plastic injection molding machines make parts by injecting molten material into a mould, which then cools and hardens to form around the shape of the cavity. Plastic injection molding is used to make a variety of plastic products, from medical equipment to toys. Plastic injection molding is used to make several components in the aerospace and automobile industries.
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Global Plastic Injection Molding Machine: Key Players
- Arburg GmbH & Co. KG
- Boco Pardubice Machines S.R.O.
- Borche North America Inc.
- Chen Hsong Holdings Limited
- Dongshin Hydraulic Co. Ltd.
- Dr. Boy GmbH & Co. KG
- Engel Austria GmbH
- Fu Chun Shin Machinery Manufacture Co. Ltd.
- Haitian International Holdings Limited and Hillenbrabd, Inc
- Other Prominent Players
Global Plastic Injection Molding Machine: Segments
Hydraulic injection molding segment to grow with the highest CAGR during 2020-30
Global Plastic Injection Molding Machine market is segmented by type into Electric, Hybrid, and Hydraulic. In the plastic injection molding machine business, the hydraulic injection molding machine had the largest market share. Because of its extended service life and wide range of applications, the hydraulic injection molding machine is the most frequent machine type.
Automotive segment to grow with the highest CAGR during 2020-30
Global Plastic Injection Molding Machine market is divided by end-user into Automotive, Medical, Consumer goods, Electronics, and Others. Over the forecast period, the Automotive segment is projected to expand at the fastest pace because plastic injection moulding machines are mostly utilized in the manufacturing of vehicle exteriors, car lenses, interior components, under-the-hood components, and filtration components, the automotive sector is likely to be the largest end-user industry in the market.
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Cost-effectiveness and technical advancements
Plastic injection molding machines are a cost-effective and energy-efficient way to mass-produce plastic items. Plastics demand is predicted to grow in the automotive, packaging, home appliance, and other end-user industries, propelling the industry forward. The injection molding method has improved, making mass manufacture of complex plastic structures easier and more efficient. The industry will grow because construction spending has surged in important emerging markets. The Plastic Injection Molding Machine Market is likely to benefit from technological improvements such as IoT-enabled injection molding machines and software-assisted injection molding machines.
Environmental concerns associated with the market and high machinery cost
The increased environmental concerns regarding the disposal of by-products, trash, and VOCs, as well as fluctuating pricing of raw materials such as benzene, propylene, ethylene, and styrene, could stymie plastic manufacturing and eventually limit market growth. In addition, the maintenance costs, as well as the initial high cost of machines, may stifle market expansion. Furthermore, the availability of alternatives such as 3D printing, urethane casting, and thermoforming is projected to limit the Plastic Injection Molding Machine Market’s growth.
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Global Plastic Injection Molding Machine- Regional analysis
- North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
- Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
- Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
- Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
- Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA
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Plastic Injection Molding Machine – Product Segment
- By Type
- By End User
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