Market Analysis and Insights:
The Global Injection Molding Machine Market is estimated to come to USD 13.95 Billion by 2032, increasing at a CAGR of 3.89% from 2023 – 2032.
Injection moulding machines are used to make a wide range of products, mostly plastic elements for the automotive, electronics, consumer goods, and packaging industries. A variety of reasons, including Injection moulding machines are becoming more productive and efficient as technology advances. This is causing them more appealing to manufacturers. The Global Injection Molding Machine Market is likely to expand further in the few years to come, driven by rising demand for plastic items and a developing industrial sector in emerging nations. Throughout the projection period, the electric injection moulding machine sector is predicted to develop at the quickest CAGR. This is because electric injection moulding machines have benefits such as efficiency in energy use, precision, and reproducibility. In the Global Injection Moulding Machine Market, the horizontal injection moulding machine segment is the dominating product segment. This industry will account for over 70 per cent of the Global Injection Moulding Machine Market by 2023. Injection moulding is a highly adaptable manufacturing method that may be used to create a wide range of plastic goods; thus, the application sector comprises Automotive components, electronic components, consumer items, packaging, medical gadgets, and toys are all examples of products that are manufactured.
During the projected period, the Asia Pacific region is anticipated to be the biggest market in the world for injection moulding machines. However, markets in North America and Europe are expected to develop at a rapid pace as well.
The Asia Pacific region accounts for over sixty per cent of the global injection moulding machine market. This is because the region’s manufacturing sector is expanding and demand for plastic items is increasing. In the coming years, the Global Injection Moulding Machine Market is predicted to expand gradually. This is due to rising demand for plastic items, an expanding industrial sector in emerging nations, and technological advances in injection moulding machines.
Injection Molding Machine Market scope :
|Revenue forecast in 2032
|USD 13.95 Billion
|CAGR of 3.89% during 2022-2032
|By Types ,By Application , By Region.
|North America, Europe, Asia Pacific, South America Middle East and Africa
|Key Players Profiled
|Engel, Arburg, KraussMaffei, Sumitomo Demag, Milacron, Haitian International, Yizumi, Chen Hsong,Tongda, Billion, Haitian International, WINTEC.
An injection moulding machine (IMM), commonly referred to as an injection press, is an equipment that uses the injection moulding technique to produce plastic items. It is made up of two major components: an injection unit and a clamping unit. The injection device melts the plastic and injects it into the mould. A hopper, a screw, and a heating barrel are all part of it. The screw turns, pushing the plastic using a heated barrel and melting it. After melting, the plastic is fed into the mould via a sprue. The clamping unit is in charge of keeping the mould closed through the injection process. It is made up of two platens that serve as the mould’s two halves. The platens are secured in addition to a high clamping force to prevent the mould from opening during injection.
The injection moulding process can be summarised in a few steps, which include The mould has been screwed shut. The substance is heated by the injection device. Molten plastic is poured into the mould. In the mould, the plastic is cooled and solidified. The mould is removed, and the finished object is removed. To satisfy the needs of various enterprises, injection moulding machines are available in a wide range of sizes and configurations. Some injection moulding equipment is designed to make small, precise pieces, while others are made to make massive, complex parts. Injection moulding is a critical industrial method that produces a wide range of plastic-based goods that we use daily.
Key Market Segmentation:
Insights on Key Products:
The Horizontal Injection Moulding Machine segment’s supremacy can be attributed to its versatility and capacity to produce a wide range of items. Horizontal injection moulding machines come in several sizes and configurations, making them ideal for a wide range of production applications. The most frequent type of injection moulding machine is this one. They are used to make a wide range of products, notably automotive components, electronics components, consumer goods, and packaging.
Vertical Injection Moulding Machines
These tools are typically smaller in size than horizontal injection moulding machines, and they are used to make smaller, more precisely machined parts.
All-electric Injection Molding Machines
The injection and clamping sections are powered by electric motors in these devices. They consume less energy than hydraulic injection moulding machines but are more expensive.
Two-shot Injection Molding Machines
These devices may combine two types of plastic to form a single item. They are utilised to make automobile parts, medical gadgets, and consumer goods.
Multi-platen Injection Molding Machines
These machines have several platens and can mould multiple pieces at once. They are commonly employed to manufacture high-volume, low-cost products like packaging and consumer goods.
Insights on Key Applications:
Automotive is the most dominant application sector in the Global Injection Molding Machine Market. This category is anticipated to make up more than 30% of the Global Injection Molding Machine Market by 2023. The automotive industry is the most common application for injection moulding machines. Automobile elements such as bumpers, grilles, dashboards, and interior trim are manufactured using injection moulding machines. The automotive segment’s dominance is attributable to increased vehicle manufacturing and the increasing utilisation of plastic in automotive parts. Vehicle load and emissions are also under growing scrutiny in the automobile sector. This is a fueling requirement for lightweight plastic parts, the kind that are normally manufactured with injection moulding machines.
The other significant end-use industry for injection moulding machines is the electronics industry. Injection moulding machines are used to manufacture a wide range of electronic components, including connections, housings, and circuit boards.
Toys, appliances, and housewares are all manufactured using injection moulding equipment.
Another significant end-use industry for injection moulding equipment is the packaging industry. Injection moulding machines are utilised in the production of a wide range of packaging items including bottles, caps, and trays.
Injection moulding machines are used to make a wide range of medical equipment, including syringes, stents, and implants.
Insights on Regional Analysis:
During the projected period, the Asia Pacific region is projected to keep going to be the world’s biggest customer base for injection moulding machines. North American and European markets, on the other hand, are likely to expand substantially. In 2023, Asia Pacific will become responsible for more than 60% of the Global Injection Molding Machine Market share. This is because the region’s manufacturing sector is expanding and there is a greater demand for plastic items.
In 2023, Europe will account for more than 20% of the Global Injection Moulding Machine Market. A substantial need for high-quality and efficient in terms of energy injection moulding machines characterises the European market.
North America is the world’s third biggest customer base for injection moulding machines, accounting for more than 15% of the Global Injection Molding Machine Market in 2023. The requirement for large and complex injection moulding equipment distinguishes the North American market.
Latin America and the Middle East and Africa
Although the injection moulding machine markets in Latin America, the Middle East, and Africa are small, they are expected to grow substantially in the next years.
These businesses provide a diverse range of injection moulding machines, ranging from small and simple to huge and complex. They also provide services such as equipment installation, training, and upkeep.
The following businesses are significant players in the Global Injection Molding Machine Market : Engel, Arburg, KraussMaffei, Sumitomo Demag, Milacron, Haitian International, Yizumi, Chen Hsong, Tongda, Billion, Haitian International, WINTEC. The leading players in the Global Injection Molding Machine Market are constantly developing and creating new technologies to satisfy the ever-evolving requirements of their consumers.
COVID-19 Impact and Market Status
In the years 2020 and 2021, the COVID-19 outbreak had a substantial impact on the Global Injection Moulding Machine Market. The epidemic disrupted the supply chain, causing a drop in market demand for injection moulding machines and forcing several production plants to close. In contrast, the Global Injection Moulding Machine Market is expected to rebound in the coming years. The growing need for plastic items, the expanding industrial sector in emerging regions, and technological improvements in injection moulding equipment are driving the market. The Global Injection Moulding Machine Market has been impacted by the COVID-19 epidemic. The epidemic disrupted the supply chain, causing a drop in requests for injection moulding machines and forcing several production plants to close. Although the Global Injection Molding Machine Market is currently recovering from the epidemic, it is likely to expand in the next years. The growing requirement for plastic items, the expanding industrial sector in emerging regions, and technological developments in injection moulding machines will fuel growth.
Latest Trends and Innovation:
? In 2023, Engel introduced the e-speed 750 injection moulding machine, the most potent electric injection moulding machine on the market.
? Arburg will release the Allrounder 1120 H injection moulding machine in 2023, which is geared for high-volume manufacturing of small and complex parts.
? KraussMaffei presents the PX 4000 injection moulding machine in 2023, which can be used for the manufacture of complex and large plastic parts.
? Sumitomo Demag introduced the IntElect 2 injection moulding machine, an all-electric machine optimised for the manufacturing of high-precision plastic parts, in 2022.
? In 2022, Milacron launched the T-Series injection moulding machine, which is designed to make a wide range of plastic parts.
? In 2022, Haitian International revealed the Jupiter J5000 injection moulding machine, the company’s largest injection moulding equipment to date.
Significant Growth Factors:
Because of their light weight, durability, and low cost, plastic products have grown increasingly popular. This increases the demand for injection moulding machines, which are used to make a wide range of plastic products.
Manufacturing is booming in emerging economies like China and India. As a result, producers in these countries are experiencing increased demand for injection moulding machines. Injection moulding machines are becoming more productive and effective due to technological improvements. This increases their attractiveness to manufacturers. Electric injection moulding machines consume less energy and are more accurate than hydraulic injection moulding equipment. Electric injection moulding equipment is in high demand, notably in Europe and North America. Many governments in poor nations are launching industrialisation efforts. As a result, the requirement for injection moulding equipment in these countries is increasing. Plastic is widely used in the automobile and electronics industries. Injection moulding machines are in high demand due to the greater utilisation of plastics in all of these industries.
Injection moulding machines are also used to make medical gadgets and packaging. Injection moulding machines are in high demand due to greater interest in medical devices and packaging. Custom plastic items are gaining popularity across a wide range of industries. Injection moulding machines are in high demand due to an increasing number of customised plastic items.
Overall, the Global Injection Molding Machine Market is predicted to rise steadily over the next few years, owing to increasing consumer preference for plastic products, a burgeoning sector of manufacturing in emerging regions, and improvements in technology in injection moulding machines.
The purchase and maintenance of injection moulding machines are both costly. Small and medium- sized firms may find this a barrier to entry. Injection moulding is a sophisticated process that requires competent workers. It may be challenging for manufacturers to locate and retain talented employees in this environment. The use of injection moulding machines in the manufacture of plastic products might have a negative influence on the environment. This is because of the utilisation of fossil fuels and waste creation. Plastic resin prices, for example, are erratic. This might make budgeting for manufacturing expenses challenging. Other manufacturing technologies are becoming increasingly prominent, including 3D printing and additive manufacturing.
These innovations can be utilised to create small batches of customised plastic products eliminating the requirement for costly injection moulding machinery. Some governments have prohibited the shipment of injection moulding machines. Manufacturers may find it difficult to gain access to the machines they require as a result of trade restrictions. Manufacturers are collaborating to address the global injection moulding machine market’s problems. Manufacturers, for example, are producing more energy-efficient and ecologically friendly Injection moulding machines. To produce a trained workforce of injection moulding machine operators, manufacturers are investing in training programmes.