Injection Molding Machine Market size is set to grow by USD 5.19 billion from 2024-2028, Rising demand for injection molding machines from various industries to boost the market growth, Technavio

NEW YORK, July 25, 2024 /PRNewswire/ -- The global injection molding machine market  size is estimated to grow by USD 5.19 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  4.36%  during the forecast period.  Rising demand for injection molding machines from various industries is driving market growth, with a trend towards growing popularity of 3D printing. However, high initial and maintenance cost of injection molding machines  poses a challenge. Key market players include ARBURG GmbH Co KG, BORCHE North America INC., Chen Hsong Holdings Ltd., Cosmos Machinery Enterprises Ltd., Electronica Plastic Machines Ltd., ENGEL Austria GmbH, FANUC Corp., Haitian International Holdings Ltd., Hillenbrand Inc., Husky Technologies, KraussMaffei Group GmbH, L.K. Technology Holdings Ltd., NISSEI PLASTIC INDUSTRIAL Co. Ltd., Shibaura Machine Co. Ltd., Sumitomo Heavy Industries Ltd., Tederic Machinery Co., Ltd., The Japan Steel Works Ltd., Toyo Machinery and Metal Co. Ltd., Ube Corp., and WITTMANN Technology GmbH.

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Key Market Trends Fueling Growth

Injection molding machines have gained significant traction in the manufacturing industry due to their versatility and capability to work with various plastic and metal materials. The increasing popularity of 3D printing has led to an increased demand for these machines, as they enable the creation of complex geometries in one piece, saving time and reducing material waste. While 3D printing offers quick production of parts, injection molding machines allow for the mass production of high-quality, precise, and consistent parts. The ability to easily create prototypes using injection molding machines also facilitates the rapid design and development process. These advantages are expected to fuel the growth of the global injection molding machine market in the coming years. 

The Injection Molding Machine market is experiencing significant growth due to the increased demand for plastic products in various sectors. Mechanical systems in manufacturing industries are leveraging injection molding machines to produce mass volumes of plastic components for industries like automobiles, electronics, and medical. With the global population on the rise, the need for efficient and versatile production solutions is increasing. Injection molding machines are being used to produce plastic components for medicines, automotive hubs, packaging solutions, and even food & beverages. The market is driven by the economy, with finance and global trade playing crucial roles. The automotive industry, for instance, produces around 1,000 vehicles per 1,000 people, and injection molding machines are essential for manufacturing plastic components. The trend towards fully automatic, highly efficient all-electric machines is gaining popularity due to their lower labor costs and higher production rates. However, wastage remains a concern, and injection molding machine manufacturers are focusing on improving efficiency and reducing wastage. Supportive government initiatives and the rise in population are creating opportunities for injection molding machines in various sectors, including medical equipment and robotics. The market is also witnessing a trend towards specific requirements, such as the need for high clamping forces in the food & beverage industry to produce thick-walled containers. In urgent emergencies, injection molding machines can quickly produce essential plastic components, making them indispensable. The IntElect S 100/460-250 is a popular injection molding machine due to its versatility and ability to meet various industry requirements. Overall, the injection molding machine market is a vital part of the community, contributing to human health conditions, industrialization, and the global economy. 

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Market Challenges

• Injection molding machines are essential for manufacturing high-quality products, such as plastic, metal, and others. However, the significant investment required for purchasing and maintaining these machines can be a challenge for smaller businesses. The high cost is attributed to the intricate design, high precision, and expensive materials, labor, and energy involved in their production. Regular maintenance is necessary to ensure optimal functioning, which includes repairing or replacing worn-out components like nozzles, heaters, thermocouples, and hydraulic valves. While the initial and maintenance costs are substantial, they are offset by the machines' high production rate, consistency, and long lifespan. Despite these advantages, the high investment may hinder market growth for some businesses, potentially reducing competition and innovation.
• Injection molding machines play a crucial role in manufacturing industries, producing plastic components for various sectors like packaging solutions, automotive hubs, medical components, and processed food & beverages. However, the market faces challenges such as increasing demand for efficiency, fully automatic and highly efficient all-electric machines, and the rise in population leading to more vehicles per 1000 people. Injection molding manufacturers must address these challenges while ensuring energy efficiency, short start-up times, and monitoring systems for optimal molding conditions. The market also includes hybrid machines with servo pumps and clamping forces tailored to specific industries. Supportive government initiatives, robotics, and the integration of medical equipment and electric vehicles are driving growth. However, threats from industrialization and urgent emergencies require robust supply networks and maintenance strategies.

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Segment Overview 

This injection molding machine market report extensively covers market segmentation by

1. Type 
• 1.1 Plastics
• 1.2 Rubber
• 1.3 Others
2. End-user 
• 2.1 Automotive
• 2.2 Consumer goods
• 2.3 Packaging
• 2.4 Others
3. Geography 
• 3.1 APAC
• 3.2 North America
• 3.3 Europe
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Plastics-  Injection molding machines are essential equipment in the manufacturing industry for producing a diverse range of plastic parts and components. Four primary types of plastics, namely polypropylene (PP), polyethylene (PE), polystyrene (PS), and acrylonitrile-butadiene-styrene (ABS), dominate the injection molding market. Polypropylene (PP), a thermoplastic polymer, is widely utilized in automotive, packaging, and medical industries due to its high melting point, good chemical resistance, and overall toughness. Lightweight and easy to mold, PP is an ideal choice for producing caps, covers, and automotive components. Polyethylene (PE), another commonly used plastic, is popular in packaging and consumer goods industries. PE is known for its durability, flexibility, and resistance to moisture and chemicals. High-density polyethylene (HDPE) and low-density polyethylene (LDPE) are two main grades, each suitable for different applications. HDPE is used for rigid and durable products, while LDPE is used for more flexible and lightweight applications. Polystyrene (PS), a transparent thermoplastic polymer, is utilized in various consumer goods, packaging, and electronic applications. Known for its excellent dimensional stability and electrical insulation properties, PS is available in crystal and high-impact forms. Crystal PS is used where clarity and transparency are essential, such as food packaging and medical products. High-impact PS, which contains rubber or another elastomer, is used for more durable and impact-resistant applications like toys, automotive components, and electronics. ABS, a thermoplastic polymer, is a versatile material used in automotive parts, toys, electronics, and sporting goods. ABS offers a balance of mechanical, chemical, and thermal properties, making it a popular choice for its high-impact resistance, easy processability, and low cost. Additionally, it is available in various colors and finishes, making it an attractive option for consumer products. These factors contribute to the growth of the plastic segment in the global injection molding machine market during the forecast period.

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Learn and explore more about Technavio's in-depth research reports

The global Plastic Processing Machinery Market is experiencing robust growth, driven by increasing demand for plastic products across various industries. Key players are focusing on innovative technologies to enhance efficiency and reduce environmental impact. Similarly, the global Dies and Molds Market is expanding due to rising automotive and consumer goods manufacturing. Advanced mold technologies are improving production quality and speed. Meanwhile, the global Machine Condition Monitoring Market is growing as industries prioritize predictive maintenance to reduce downtime and maintenance costs, leveraging IoT and AI for real-time monitoring and analytics.

Research Analysis

The Injection Molding Machine market is driven by the mass production of plastic products, particularly in industries such as automobiles, electronics, medicines, and processed food & beverages. With a global population projected to reach 9 billion by 2050, the demand for plastic items is expected to increase significantly. Injection molding machines offer versatility in producing specific requirements for various industries. However, labor costs and production rate are critical factors in the market. Wastage is a concern due to the high volume of plastic production. Plastics are essential in manufacturing industries, with an average of 100 vehicles produced per 1000 people, requiring injection molding for interior and exterior parts. The economy, supply networks, and urgent emergencies also impact the market. Injection molding manufacturers must adapt to specific requirements, such as electric vehicles and electric machine components, to remain competitive. Staffing and efficient supply chains are crucial to maintaining production rates and meeting demand.

Market Research Overview

Injection molding machines are mechanical systems used in manufacturing industries to produce plastic products in mass volume. With the increasing global population and the demand for plastic products in various sectors, the market for injection molding machines continues to grow. These machines are essential in producing components for industries such as automobiles, electronics, medicines, and packaging solutions. The versatility of injection molding machines makes them suitable for specific requirements, including labor-intensive industries like automotive hubs. The production rate of injection molding machines is a critical factor, with high-efficiency, fully automatic, and all-electric machines being highly sought after. However, wastage remains a concern, and efforts are being made to improve energy efficiency and reduce it. Plastics, a key raw material, are used extensively in various sectors, including food and beverages, vehicles per 1000 people, and industrialization. Supportive government initiatives and the rise in population have led to an increase in demand for injection molding machines. The market is also driven by urgent emergencies, such as the need for medical components and the shift towards electric vehicles. Injection molding manufacturers are continuously innovating, introducing machines with advanced features like servo pumps, monitoring systems, and hybrid machines to meet the evolving needs of various industries. The injection molding market is influenced by various factors, including the economy, finance, staff, supply networks, and urgent emergencies. The market is expected to grow further with the introduction of robotics and advancements in medical equipment and energy efficiency. The IntElect S 100/460-250 is an example of a high-performance injection molding machine that meets the specific needs of various industries. Overall, injection molding machines play a crucial role in the production of plastic components and packaging solutions for various sectors, contributing to the betterment of human health condition, community, and global trade.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Type
• Plastics
• Rubber
• Others
• End-user
• Automotive
• Consumer Goods
• Packaging
• Others
• Geography
• APAC
• North America
• Europe
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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