The global injection molding machine market is estimated to cross USD 18 billion by 2028. The packaging industry's increased demand is aiding market development, as injection molding machines have a flexible and streamlined method for plastic molding. Packaging has been an important element in achieving product separation, and businesses must adhere to strict guidelines. Plastic molding allows for greater customization and lower costs, which has boosted demand for injection molding machines in the packaging industry.
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Injection molding is a manufacturing technique that allows for the mass manufacture of plastic materials. Injection molding machines are used in industrial manufacturing, which necessitates the development of an identical component thousands or even millions of times in a row. The plastic injection molding machine industry is benefiting greatly from the growing success of plastic molding because it is the fastest and most effective method of molding as opposed to other methods. The types of moving mechanisms used by injection molding machines are used to classify them. Hydraulic, electronic, and hybrid machines are also used. The ability to scale production in large quantities is the primary factor driving up demand for injection molding machines. Once the initial costs are charged, injection molded machines have a very low price per product, allowing for cost-effective production processes.
Injection Molding Machine Market Scope
| Metrics | Details |
| Base Year | 2020 |
| Historic Data | 2018-2019 |
| Forecast Period | 2021-2028 |
| Study Period | 2018-2028 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2028 | USD 18 billion |
| Growth Rate | CAGR of 3.5% during 2021-2028 |
| Segment Covered | Product Type, Application,Regions |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Key Players Profiled | ENGEL Austria GmbH, Nissei Plastic Industrial Co., Limited, Milacron, Haitian International Holdings Limited, Arburg GmbH + Co KG, Sumitomo (SHI) Demag Plastics Machinery GmbH, Chen Hsong Holdings Limited, Toyo Machinery & Metal Co., Ltd., Husky Injection Molding Systems Ltd., and Japan Steel |
Key Segments of the Global Injection Molding Machine Market
Product Type Overview, 2018-2028 (USD Billion)
- Hydraulic
- Electric
- Hybrid
Application Overview, 2018-2028 (USD Billion)
- Packaging
- Automotive
- Consumer Goods
- Electrical & Electronics
- Healthcare & Medical Devices
- Aerospace
- Others
Regional Overview, 2018-2028 (USD Billion)
- North America
- U.S.
- Canada
- Europe
- Germany
- United Kingdom
- France
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global injection molding machine market.
- Injection molding machine is widely used for various end uses in packaging, automotive, consumer goods, electrical & electronics, healthcare & medical devices, and aerospace owing to their excellent properties and the market is expected to gain traction over the coming years.
- With the growing packaging industry, the market is further expected to have a positive opportunity in near future.
What does the report include?
- The study on the global injection molding machine market includes qualitative insights such as drivers, restraints, challenges and opportunities
- Additionally, the market has been evaluated using the porter’s five forces analysis
- The study covers qualitative and quantitative analysis of the market segmented on the basis of product type, and application. Moreover, the study on injection molding machine market provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments
- The study includes the profiles of key players operating in the market with a significant global and/or regional presence
Who should buy this report?
- The report on the global injection molding machine market is suitable for all the players across the value chain including raw material providers, manufacturers, distributors, and other intermediaries
- Venture capitalists and investors looking for more information on the future outlook of the global injection molding machine market
- Consultants, analysts, researchers, and academicians looking for insights shaping the global injection molding machine market
The injection molding machines' high production rates make them a cost-effective and reliable choice for plastic manufacturers. The short time between machine cycles allows for a larger number of molds to be manufactured in a given amount of time, thus increasing sales and profit margins. The handling of complicated parts becomes easy and standardized with injection molding machines, and millions of identical parts can be made. To keep processes streamlined and production going, these machines usually use a self-gating, automated tool. This necessitates limited oversight, lowering labor costs in the production process.
The process of injection molding consists of four primary stages: plasticization, injection, cooling and ejection. In order to achieve cost effectiveness, the cycle time needs to be cut short , and in order to achieve this, rapid heating and cooling systems through the application of conformal cooling/heating channels and VARIOTHERM technology is used. To ensure precise process monitoring and control, the integration of artificial intelligence into the machines has been introduced. Fanuc, a manufacturer of the injection molding machines introduced new Roboshot Si-B machines with artificial intelligence that enables quick electric injection acceleration and 0.1msec control precision in 2013. The new AI Ejector Protection and an enhanced AI Mold Protection was developed to reduce tool damage costs. Thus, the ingenious technological product addition is also driving the momentum of the injection molding machine industry.
The injection molding machine market share, by application was dominated by the packaging segment due to the strength and flexibility plastic molded packaging offers. The product manufacturing companies resort to customized packaging to achieve product differentiation through colors and designs that are associated to their brand. The advances in plastic polymers over the years have led to the availability of a large selection of resins to choose from. The injection molding machines facilitate efficient and cost-effective manufacturing of plastic products. Packaging markets for injection molding machine is expected to grow owing to the rising demand for injection molded plastics, driven by opportunities in manufacture of industrial shipping pails, caps and closures, totes and crates. The consumer market growth is expected to increase the need for inexpensive, convenient, lightweight and unbreakable housewares and personal care products such as storage containers and razors, thereby contributing to the growth of the injection molding machine market.
On the basis of geography, Asia Pacific dominated the market assisted by the tremendous demand from the consumer goods packaging industry. The increasing income of this region has led to the growth of the automotive region. Injection molding machines manufacture highly complicated parts with uniform and precise measurements which is an absolute necessity for the automobile industry. Thus, the accentuated demand for injection molded plastics in the packaging and automotive industry, especially in the China automobile sector, is propelling the market in this region.
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The major players operating in the global injection molding machine market are ENGEL Austria GmbH, Nissei Plastic Industrial Co., Limited, Milacron, Haitian International Holdings Limited, Arburg GmbH + Co KG, Sumitomo (SHI) Demag Plastics Machinery GmbH, Chen Hsong Holdings Limited, Toyo Machinery & Metal Co., Ltd., Husky Injection Molding Systems Ltd., and Japan Steel Works Limited. Other notable players operating in this industry are KraussMaffei Group, UBE Machinery, Toshiba Machine Co., Ltd., Fanuc, and Wittmann Battenfeld.