Global Injection Molding Machine Market by Material (Plastic, Metal), by Technology (Hydraulic, Electric) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

In 2019, the global injection molding machine market was valued at USD 18.28 million. The market is expected to grow at a 3.0% compounded annual rate (CAGR), between 2020 and 2027. Market growth is expected to be driven by increased investments in technological advances that reduce production costs and use scraps. A variety of automotive parts are made using injection molding machines, such as bumpers and exterior body panels, dashboards, and electrical housings. The development of new technologies has led to an increase in R&D spending. These include advanced hydraulic systems for large parts and electric systems for digital processing parts for small and complicated components. Hybrid systems can also be used for small and large parts. This allows for cost savings.

Because of its advanced technology industries, advanced processing capabilities and skilled workforce, the U.S. is a prominent country in North America. Manufacturers have been focusing on technological innovation to meet growing demand for injection molding machines, and increase competition. This has led to high market growth in the forecast period.

Because it is one the most critical processes in mass production, injection molding machines (IMMs) are used in many industries, including medical, dental, aerospace and firearms. Injection molding is repeatable and produces similar products in a short time. IMM is capable of producing small, precise engineering components as well as disposable consumer goods.

IMM is a product that manufacturers focus on making. It allows for flexibility in production, low maintenance and high efficiency. There is a lot of demand for injection-molded materials thanks to new processes like gas-assisted, foam, co-injection, and multiple-component injection molding.

Rapid population growth, increasing industrialization, as well as technological advances have all contributed to the increased demand for components for automobiles in emerging markets. Market growth is expected to be positive due to the widespread adoption of IMM in various applications, including interior and exterior trim components, subassemblies and under-hood applications.

Material Insights

The market leader in plastic injection molding machines was 76%. This involves the injection of molten plastic using heat and then solidifying it. These machines are used in many industries, including packaging, construction, as well as consumer goods.

The rapid growth in automotive industry use of plastic parts is expected to drive market growth for plastic injection molding machines in the forecast period. This is due to their lower weight and cost. Market growth will be boosted by innovations in injection molding machines capable of producing complex products at high speeds and large quantities.

From 2020 to 2027, the demand for metal injection mold machines will increase at a rate of 2.8%. Metal injection molding machines use finely-powdered steel with a binding substance to make metal parts such as gears, levers and phone flip sliders. These parts are used in many industrial, medical, surgical, automotive, firearms, and other applications.

The aerospace and automotive industries will see an increase in metal injection molding. This is expected to lead to growth. Rubber, ceramics, elastomers are all materials that can be used to inject molds. The combination of faster molding and solidifying operations with the flexibility of molding machines that can be used in multiple industries is expected to increase product demand during the forecast period.

Technology Insights

The market was led by hydraulic technology, which accounted for approximately 45% of global revenue share in 2019. Hydraulic technology will be in high demand in the automotive sector, which requires high clamping forces to produce large and heavy parts. It is used extensively in manufacturing heavy parts for industries like aerospace, defense and marine.

The CAGR for electric injection molding machines is 3.6%. This is because they are digitally controlled and can operate with high accuracy as well as speed. They are ideal for small and complex parts in the electrical, electronics, automotive and consumer goods industries.

Hybrid injection molding machines will be in demand as they combine the best of hydraulic and electric injection machines. This machine has a high clamping force from hydraulic machines, as well as energy efficiency and high precision. It can make large and small parts more efficiently.

Many companies have invested heavily in R&D for hybrid injection holding machines. These machines are more cost-effective and precise and combine the functions of both electric and hydraulic machines. This will allow the end-user industries to reduce their manufacturing costs, save time and space.

End-use Insights

Injection molding machines were dominated by the automotive industry, which accounted for 29% of global revenue share in 2019. Injection molding machines are used in the automotive industry to produce the most intricate and critical parts. IMM can be used to make a variety automotive parts, including bumpers, exterior body panels and dashboards.

Injection molding machines are expected to grow at a rate of 2.7% during the forecast period. Their use in the manufacture of consumer goods, such as personal hygiene products and houseware, can explain this. High-quality plastics will replace traditional materials like glass and wood, increasing product demand.

Due to the high degree of differentiation in packaging types, such as shape and volume, it is expected that injection molding machines will see a 3.0% increase in their use in the packaging industry between 2020-2027. These machines can be used to produce various types of thin-walled containers, dairy, juice, water, food storage, buckets and beverage caps or closures.

Due to the precision and accuracy required to make parts for tablets, smartphones, laptops and connectors, the electronics industry is likely to have a high demand for injection molding machines. The market is expected to grow due to rapid growth in investment in electronics industries in different countries like China, India, Japan and the U.K.

Regional Insights

Asia Pacific dominated the market, accounting for 38% of global revenue in 2019. Asia Pacific is home to many fast-growing industries such as electronics manufacturing and automotive. This hub offers growth opportunities for IMM manufacturers. Asia Pacific boasts highly skilled labor at a low cost and extensive support from the local government.

Over the forecast period, injection molding machines will be in high demand due to the increase in North American investment in light-weight automotive components. Over the forecast period, the injection molding machine market will be driven by the growing demand for complex and small parts in the electronics sector in the region.

Europe's advanced infrastructure, R&D facilities and skilled workforce are expected to drive demand for injection molding machines. To reduce their production times and improve their quality, companies are investing in technological innovations. This will increase the market's growth over the forecast period.

Over the forecast period, the CSA IMM market will grow at a CAGR of 3.2%. Due to the increasing use of injection molding machines in the automotive and consumer goods sectors, the region holds tremendous potential and opportunity. Market growth will be boosted by the increasing use of IMM in healthcare and electronic industries.

Market Share Insights & Key Companies

Due to the presence of many multinational and regional players, the global IMM market has high competition. To ensure product differentiation and meet specific needs, companies are shifting their attention to product differentiation. Major industry players are benefiting from low-cost feedstocks in these regions, such as the Asia Pacific and Central & South America. They also invest heavily in R&D devoted towards sustainability.

Market players are also entering into strategic partnerships with industry players to develop new products, integrate value chains, expand global operations, and share resources and expertise in R&D. Market players are also focusing on expanding their distribution networks. The following are some of the most prominent players in global injection molding machine markets:

• Arburg GmbH + Co KG

• Haitian International Holdings Limited

• Milacron

• Nissei Plastic Industrial Co., Limited

• ENGEL Austria GmbH

• Sumitomo (SHI) Demag Plastics Machinery GmbH

Up Market Research published a new report titled “Injection Molding Machine Market research report which is segmented by Material (Plastic, Metal), by Technology (Hydraulic, Electric), By Players/Companies Milacron, Arburg GmbH + Co KG, ENGEL Austria GmbH, Sumitomo (SHI) Demag Plastics Machinery GmbH, Nissei Plastic Industrial Co Limited, Haitian International Holdings Limited”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Injection Molding Machine Market Report Segments:

The market is segmented by Material (Plastic, Metal), by Technology (Hydraulic, Electric).

Injection Molding Machine Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Injection Molding Machine Market

Overview of the regional outlook of the Injection Molding Machine Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Injection Molding Machine Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Injection Molding Machine Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Plastic

                2. Metal

                1. Hydraulic

                2. Electric

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Injection Molding Machine Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Injection Molding Machine Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.