Injection Molding Machinery Market Overview
Injection Molding Machinery market size was valued at USD 9.9 billion. The industry is expected to witness steady growth, with projections indicating that it will reach USD 10.28 billion in 2023 and further expand to USD 13.95 billion by 2032. This forecast suggests a compound annual growth rate (CAGR) of 3.89% during the forecast period from 2023 to 2032.
The injection molding machinery market refers to the industry involved in the manufacturing and supply of machinery used for the injection molding process. Injection molding is a widely used manufacturing technique in which molten material, usually plastic or rubber, is injected into a mold to create various products and components with high precision and efficiency.
The injection molding machinery market plays a crucial role in supporting various industries by providing efficient and precise manufacturing solutions. As industries continue to seek cost-effective and sustainable manufacturing methods, the demand for advanced injection molding machinery is expected to remain strong.
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Key Companies in the Injection Molding Machinery market include
- HAITIAN International (China)
- SUMITOMO Heavy Industries (Japan)
- JAPAN Steel Works (Japan)
- Chen Hsong Holdings (Hong Kong)
- Hillenbrand Inc.(US)
- Dongshin Hydraulic (South Korea)
Market Drivers
- Manufacturing and Plastic Industries:
The market for injection molding machinery is primarily driven by the demand from various manufacturing industries, including automotive, packaging, consumer goods, electronics, healthcare, and construction.
- Rising Demand for Plastic Products:
The increasing use of plastic products in everyday life has contributed to the growth of the injection molding machinery market. Plastic's versatility, durability, and lightweight properties make it a popular choice for various applications.
- Technological Advancements:
The injection molding machinery market has seen continuous technological advancements, including the integration of automation, robotics, and digital controls, leading to improved efficiency and productivity.
- Packaging Applications:
Injection molding machinery is extensively used for the production of plastic packaging materials, including bottles, containers, caps, and closures.
- Global Market Growth:
The injection molding machinery market has experienced growth in various regions, with emerging economies in Asia-Pacific witnessing significant demand due to industrialization and urbanization.
Injection Molding Machinery Market Segmentation
Injection Molding Machinery Type Outlook
- Electric
- Hydraulic
- Hybrid Machines
Injection Molding Machinery Clamping force Outlook
- Less than 200 tons of force
- 200 to 500 tons force
- More than 500 tons of force
Injection Molding Machinery Material Outlook
- Rubber
- Metal
- Plastic
- Ceramics
Injection Molding Machinery End-User Outlook
- Automotive
- Consumer goods
- Health care
- Electricals & Electronics
Injection Molding Machinery Regional Outlook
- North America
- Europe
- Asia-Pacific
- Rest of the World
Injection Molding Machinery Industry Developments
- In June 2021, Boddingtons, a prominent medical equipment manufacturer, made a strategic decision to enhance its manufacturing capacity by incorporating a dual-shot molding cell within its factory. The addition of the dual-shot molding cell allows Boddingtons to improve its production capabilities, enabling the manufacturing of complex components and products in a more efficient manner. Dual-shot molding, also known as two-shot molding, is a specialized injection molding process that enables the creation of multi-material or multi-color parts in a single operation. By adopting this advanced technology, Boddingtons aims to meet the growing demand for its medical equipment products and expand its market presence.
- Moving to March 2021, Otto Hofstetter, a Switzerland-based company, took steps to expand its offerings in the injection molding industry. The company diversified its product line to include specialized injection molds, focusing on strengthening its presence in the medical technology and pharmaceutical sectors. With a focus on meeting the precise needs of these critical sectors, Otto Hofstetter aims to leverage its expertise in injection molds to provide high-quality and tailored solutions for medical and drug-related applications.
- In February 2021, Nolato Company achieved a significant milestone by completing the installation of a 75-tonne molding equipment at its subsidiary organization, Avenue. The new molding equipment is specifically designed for producing precision items during the development stage. By investing in this advanced molding technology, Nolato aims to enhance its capabilities in developing high-precision components and prototypes. This enables Nolato and its subsidiary, Avenue, to better support their customers' product development processes and provide customized solutions.
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