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Plastic Injection Molding Machine Market worth $10.6 billion by 2025

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Plastic Injection Molding Machine Market worth $10.6 billion by 2025

October 28
06:45 2021
Plastic Injection Molding Machine Market worth $10.6 billion by 2025
Browse 251 market data Tables and 52 Figures spread through 250 Pages and in-depth TOC on “Plastic Injection Molding Machine Market”
Plastic Injection Molding Machine Market by Machine Type (Hydraulic, All-Electric and Hybrid), Clamping Force (0-200 Tons Force, 201-500 Tons Force and Above 500 Tons Force), End-Use Industry (Automotive, Consumer Goods, Packaging, Healthcare, Electrical & Electronics and Others) and Region

The plastic injection molding machine market size is estimated to be USD 8.9 billion in 2020 and is expected to reach USD 10.6 billion by 2025, at a CAGR of 2.74% during the forecast period. A plastic injection molding machine is used for manufacturing products made up of plastics. It consists of two main parts – an injection unit and a clamping unit. The injection unit is like an extruder, whereas the clamping unit is concerned with the operation of the mold. Plastic injection molding machines can fasten the molds either at the horizontal or the vertical position. There are three types of plastic injection molding machines – hydraulic injection molding machines, all-electric injection molding machines, and hybrid injection molding machines.

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Hydraulic injection molding machine is the largest type segment of the plastic injection molding machine market. APAC was the largest market for synthetic leather in 2019, in terms of both volume and value. Factors such as growing demand from healthcare industry, rapid industrialization in growing economies like China, India & Thailand and increasing demand for plastic molds in electric vehicles will drive the plastic injection molding machine market.

“All-Electric injection molding machine is projected to be fastest growing machine type for plastic injection molding machine market between 2020 and 2025”

All-electric injection molding machine utilizes electric servo motor powering gears, racks, and ball screws to drive most of the machine functions. All-electric presses are noiseless faster, and more accurate as compared to other types of injection molding machines; however, the machine is more expensive. Since servo motors run all-electric injection molding machines, they require power only when they are in operation. All-electric injection molding machine can save up to 50–70% energy as compared to hydraulic injection molding machine. All-electric injection molding machine is currently the most preferred machine type owing to its lower use of chilled water, decreased housekeeping and preventive maintenance, less energy and oil consumption, and lower repair rate. Thus, All-Electric injection molding machine is the fastest growing segment during the forecast period.

“Healthcare is projected to be the fastest growing end-use industry in plastic injection molding machine market between 2020 and 2025.”

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 asIndia and China became the hub for manufacturing and meeting the demand for all these equipment across the globe.

APAC projected to be fastest growing region for the plastic injection molding machine market during the forecast period

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.

The key market players profiled in the report include Kuraray Co. Ltd. (Japan), San Fang Chemical Industry Co. Ltd. (Taiwan), Teijin Limited (Japan), Mayur Uniquoters Limited (India), NAN YA plastics corporation (Taiwan), Filwel Co. Ltd. (Japan), Zhejiang Hexin Industry Group Co., Ltd. (China), Alfatex N.V. (Belgium), H.R. Polycoats Pvt. Ltd. (India), and Yantai Wanhua Synthetic Leather Group Co. Ltd. (China).

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