The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
The plastic injection molding machine market is projected to reach USD 10.6 billion by 2025, at a CAGR of 2.74% from USD 8.9 billion in 2020. Plastic molds are widely used in the healthcare industry. Plastic injection molding machines are preferred for manufacturing medical products, as these machines offer high precision, accurate, and complex injection molded parts. These machines have application in surgical and medical devices such as syringes, vials, medical instruments, inhalers, cannulated, medicinal connectors, air systems, and prescription bottles. The outbreak of coronavirus across the globe has highlighted the healthcare industry. Due to explosive surge in the number of Covid-19 cases, the demand for medical equipment like syringes, air systems, and other medical instruments increased exponentially. Countries such as India and China became the hub for manufacturing and meeting the demand for all these equipment across the globe.
“201-500 Tons Force is projected to grow at highest CAGR, by clamping force, during the forecast period”
The 201–500 ton-force segment accounted for the largest market share in terms of value, in 2019 and is projected to register the highest CAGR during the forecast period. This high growth is attributed to the rising demand for medium-sized molded parts from major end-use industries such as automotive, packaging, and consumer goods. The clamping force of 201–500 ton-force is mainly used in medium-sized plastic injection molding machines. Machine types such as hydraulic, all-electric, and hybrid are available in 201–500 ton-force. These machines are mainly used for applications in the automotive, packaging, and consumer goods industries, where relatively medium-sized molded parts are required
“Hydraulic injection molding machine is the largest machine type for plastic injection molding machine market in 2019”
Hydraulic injection molding machine is the most popular machine type, primarily because of its long service life and a wide range of applications. The hydraulic injection molding machine consists of a fixed-speed, three-phase motor, and a variable-volume pump. Hydraulic injection molding machines have a long life, far drive distance, and low maintenance cost. This type of machine helps in significant reduction of production cycle time. Molders mainly use high-tonnage hydraulic machines for molding large parts. This machine is mainly used for producing high precision plastic components such as automotive parts, caps & closers, consumer goods, electrical & electronics goods, and medical items.
“Automotive is estimated to be the largest end-use industry in plastic injection molding machine market between 2020 and 2025.”
Plastic injection molding machines are predominantly used in manufacturing automotive components, interior wrapping, and assembly parts, such as automotive exteriors, car lenses, interior components, under-the-hood components, and filter components. A strong shift in the use of plastics instead of iron and steel in the automotive industry is expected to drive the plastic injection molding machine market during the forecast period. Stringent government regulations have forced automotive manufacturers to use plastics instead of other materials such as iron and steel. Rapid economic growth, improved infrastructure, and rising middle-class population in emerging economies have led to an increase in vehicle production and sales, which, in turn, increase the demand for plastic injection molding machines. The rapidly growing automotive industry in APAC is also one of the major factors driving the plastic injection molding machine market.
“APAC is expected to be the largest plastic injection molding machine market during the forecast period, in terms of value and volume.”
The APAC comprises major emerging nations such as China and India. Hence, the scope for the development of most industries is high in this region. The plastic injection molding machine market is growing significantly and offers opportunities for various manufacturers. The APAC region constitutes approximately 61.0% of the world’s population, and the manufacturing and processing sectors are growing rapidly in the region. The APAC is the largest plastic injection molding machine market with China being the major market which is expected to grow significantly. The rising disposable incomes and rising standards of living in emerging economies in the APAC are the major drivers for this market.
The increasing population in the region accompanied with development of new technologies and products are projected to make this region an ideal destination for the growth of the plastic injection molding machine market. However, establishing new plants, implementing new technologies, and creating a value supply chain between raw material providers and manufacturing industries in the emerging regions of the APAC are expected to be a challenge for industry players as there is low urbanization and industrialization. Booming automotive, consumer goods and packaging sectors and advances in process manufacturing are some of the key drivers for the market in the APAC. Countries such as India, Indonesia, and China are expected to witness high growth in the plastic injection molding machine market due to the increasing demand from the automotive industry.
In the process of determining and verifying the market size for several segments and subsegments identified through secondary research, extensive primary interviews were conducted.
A breakdown of the profiles of the primary interviewees are as follows:
- By Company Type: Tier 1 - 30%, Tier 2 - 43%, and Tier 3 - 27%
- By Designation: C-Level - 21%, Director Level - 23%, and Others - 56%
- By Region: North America - 30%, Europe - 18%, APAC - 41%, South America and Middle East & Africa - 11%,
The key market players profiled in the report include Haitian International Holdings Limited (China), Chen Hsong Holdings Limited (China), Sumitomo Heavy Industries Ltd. (Japan), Engel Austria GmbH (Austria), Hillenbrand, Inc. (US), and others. They are continuously undertaking developmental strategies such as expansions, new product launches, acquisitions, and contracts & agreements to strengthen their position in the plastic injection molding machine market.
This report segments the market for plastic injection molding machine market on the basis of machine type, clamping force, end-use industry, and region, and provides estimations for the overall value of the market across various regions. A detailed analysis of key industry players has been conducted to provide insights into their business overviews, products & services, key strategies, new product launches, expansions, and mergers & acquisition associated with the market for plastic injection molding machine market.
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This research report is focused on various levels of analysis ? industry analysis (industry trends), market ranking analysis of top players, and company profiles, which together provide an overall view on the competitive landscape; emerging and high-growth segments of the plastic injection molding machine market; high-growth regions; and market drivers, restraints, opportunities, and challenges.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on plastic injection molding machine market offered by top players in the global plastic injection molding machine market
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the plastic injection molding machine market
- Market Development: Comprehensive information about lucrative emerging markets ? the report analyzes the markets for plastic injection molding machine market across regions
- Market Diversification: Exhaustive information about new products, untapped regions, and recent developments in the global plastic injection molding machine market
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the plastic injection molding machine market
- Impact of COVID-19 on plastic injection molding machine market