Injection Molding Machine Market Overview:
According to the International Organization of Motor Vehicle Manufacturers (OICA), more than 97 million motor vehicles were produced in 2017 with a production growth rate of 2.36% year-on-year. Furthermore, the future will be observing some tremendous growth in the automotive sector with an augmented vehicle production owing to the growth in demand for passenger cars and commercial vehicles. Now, the parts of these vehicles utilize injection molded plastic in bearings, gear wheels, and other parts because it’s lightweight and helps to enhance the fuel efficiency for which the demand for injection molding machine is increasing. According to IndustryARC’s market analyst, the injection molding machine market had a value of around $15 billion to $17 billion in 2018, and the demand for the product will grow at a CAGR of 2.8% to 3.2% during the forecast period of 2019 to 2025.
China is one of the major producers of resins and plastic products such as packaging material, mobile phone covers, and other consumer products that require injection molded plastic. Moreover, other countries such as India, Indonesia, and Taiwan are largely developing in the consumer products and automotive sectors which has been creating a gamut of opportunities in the injection molding machine marketplace to bloom in the APAC region which held a market share between 36% and 37% as of 2018.
Injection Molding Machine Market Outlook:
Similar to trim moulding machine which is used to mold wood, injection molding machine is a machine used to manufacture plastic products such as polybutylene terephthalate, polyethylene terephthalate, acrylonitrile butadiene styrene, and thermosets. Injection molding machine finds applications in the construction, consumer goods, and packaging sector.
Owing to the escalating production of vehicles and the prospective increase in the demand of the same as mentioned above, the injection molding machine market will observe the application CAGR of a moderate 3% through to 2025 according to the market analyst. Moreover, the advent of lightweight and fuel-saving electric vehicles will aid to the rising demand for injection molded plastics in the future.
Injection Molding Machine Market Growth Drivers:
- The Unprecedented Growth in the Demand for Packaging Material –
Due to the growth of the E-Commerce sector, there is a staggering increase in demand for the packaging material that uses injection molded plastic for packaging. Furthermore, the food losses and the trend of online food ordering has led to a growing demand for injection molded plastic in the F&B industries. While this has led to the growth of the packaging machinery market, it is also largely supporting the injection molding market revenue.
- The Demand for Injection Molding Machine in Consumers Products –
Right from the mobile phone covers that are produced in abundance globally to the plastic tiffin boxes and water bottles, everything requires injection molded plastics, which is becoming one of the most effective driving factors responsible for the injection molding machine market growth.
- The Growth of the Construction Industry Creating More Demand –
There is a palpable upsurge in the growth of the construction industry across the globe due to the catapulting industrial development, and the real estate sector is also making strides owing to the population growth. Now, these construction projects use an enormous amount of injection molded plastic for roofing, barricading, and shielding, which is widening the injection molding machine market size.
In addition to the aforementioned factors driving the growth of the injection molding machine market, injection molded plastics are a part of medical equipment, laboratory equipment, storage boxes, aircraft canopies & windows, and toy.
“The diverse applications of the injection molded plastic in the distinctive industries that will see noticeable growth in the future are leading to a sustainable demand for injection molded plastics, which is broadening the spectrum of injection molding machine market,” remarks the market expert in the report.
Injection Molding Machine Market Challenges:
The major challenge to the injection molding machine market is that the countries are shunning from the usage of plastics because of the increasing pile of plastic wastes. Subsequently, there are some inevitable environmental regulations dwarfing the market size. Moreover, Injection molding machine production requires a lot of investment. In the technical perspective, the customers always seek customized machines that suit their product specification which is a bit of hassle for the vendors. However, new techniques can be developed to meet the supply to demand and fulfill the requirement of the diverse range of customers with different demands.
Injection Molding Machine Market Key Players Perspective:
The key players in the injection molding machine market are GSH Industries, Solmser Kunststofftechnik GmbH & Co. KG, The Japan Steel Works, Ltd, Sumitomo Heavy Industries Ltd., Husky Injection Moldings Systems Ltd, Arburg GmbH & Co. KG, Engel Austria GmbH, Haitian International Holdings Limited, Milacron Holdings Corp, and Nissei Plastic Industrial Co. Limited.
Injection Molding Machine Market Trends:
- In January 2017, Ube Machinery Corporation and Mitsubishi Heavy Industries Plastic Technology had concluded the merger of their injection molding machine business and had re-launched their operations under the name of U-MHI Platech Co., Ltd. (U-MHIPT).
- In February 2019, Kruger Plastics bought US-based injection molding maker NCIM which features 100 molding processes for an undisclosed sum of money.
Injection Molding Machine Market Research Scope:
The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the injection molding machine market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of injection molding machine market, and their specific applications in the automotive, consumer products, construction, and F&B sectors.
Injection molding machine Market Report: Industry Coverage
The injection molding machine market report also analyzes the major geographic regions as well as the major countries in these regions. The regions and countries covered in the study include:
- North America: The U.S., Canada, Mexico
- South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
- Europe: The U.K., Germany, Italy, France, the Netherlands, Belgium, Spain, Denmark
- APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
- Middle East and Africa: Israel, South Africa, Saudi Arabia