The global injection molding machines market size had a market share of USD 10,724 million in 2021, expected to advance to USD 16,964 million with a CAGR of 5.9% during the forecast period. Injection Molding is a manufacturing technology that enables the mass production of components. It functions by injecting molten substances into a mold. Typically, it is used in mass production to create thousands of similar objects. Injection Molding components include metals, glassware, elastomers, and confections. However, thermoplastic and thermosetting polymers are the most prevalent. The primary advantage of injection Molding is its capacity for mass production. After initial expenses have been paid, the unit price of injection-molded products is low.
The materials, like synthetic resins (plastics), are heated and melted before being poured into the mold and chilled to make the desired shape. This procedure is called injection molding because it resembles the injection of fluids using a syringe. The procedure proceeds as follows: materials are melted and placed into the mold, where they solidify, before being removed and finished.
Utilizing injection Molding equipment enables the mass manufacturing of injection-molded plastic components with great precision. The injection Molding machine is an ideal and energy-efficient method for mass-producing plastic items. The expansion of the global injection molding machines market is fueled by the numerous characteristics of injection molding machines, including their durability, ease of use, increased manufacturing rates and speedy production, and excellent quality.
The global injection molding machine market is expanding due to a rapid increase in industrial investment and a strong demand for injection-molded polymers in the automotive and healthcare industries. In addition, industry leaders stimulate injection molding market growth by producing fully automated injection molding equipment to ensure energy efficiency. To suit clients' needs, market participants offer injection molding machines in various sizes and styles.
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Advantages of Low Labour Cost and Mass Production to Aid Growth
Injection Molding is an automated procedure in which an automatic tool runs smoothly on an injection Molding machine. The majority of injection Molding is performed by machines and robotics. These are the only individuals responsible for controlling and managing the process. This automation minimizes the process's labor costs. This decrease in labor costs is anticipated to reduce the overall cost of producing plastic parts. In addition, the injection molding method can produce many identical parts each hour.
The expansion of the global injection molding machines market is anticipated to be fueled by increasing production rates and quick injection molding production. In addition, injection Molding permits the creation of plastic components with various finishes, including light texture, medium texture, pad printed, smooth, and screen printed. Consequently, low labor costs and bulk production associated with injection molding machines are anticipated to stimulate injection molding machines' market expansion.
Material Flexibility and Low Production Waste to Augment Market Growth Prospect
A significant feature of the injection-Molding method is its ability to use multiple types of plastic to create plastic objects simultaneously. In injection molding, manufacturers may utilize thermoplastics, thermosetting, or a combination of elastomers to achieve desired qualities. This method permits the fabrication of more intricate pieces with various shapes and designs. In addition, once the mold has been prepared, the manufacturer can alter the material and color of the manufactured component. This aspect is anticipated to propel the global injection molding machines market. Additionally, injection Molding improves the decrease of manufacturing waste. The majority of injection-molded plastics are recyclable.
High Substitutes Threat to Restrict Market Growth
Injection Molding is a standard method for manufacturing plastic components and parts; however, the high upfront expenditures of the molds make it impractical for anything but mass production. Low-volume injection-molded plastic parts are prohibitively expensive. Creating a new product from scratch is fraught with uncertainty about whether it will succeed in the marketplace. Therefore, it is difficult for them to invest several thousand dollars in injection molding for an unverified product. Consequently, low-volume, cost-effective alternatives such as urethane casting, 3D printing, and thermoforming are projected to impede the injection Molding machines market's expansion.
Advancements toward Newer Technologies to Spur Market Opportunities
Design enhancements and technological advances in the global injection molding machines market are impacted by the demands and trends in the automotive and packaging end-user categories of injection-molded plastics goods. In addition, major players are focusing on introducing innovative, energy-efficient, dependable, and advanced injection molding machines to the market. For instance, Sumitomo (SHI) Demag Plastics Machinery GmbH provides an all-electric injection Molding machine called IntElect that is highly precise and stiff. In addition, industrialists aspire to develop machines that facilitate production, minimize maintenance fees, offer production flexibility, and reduce waste and lead times. Therefore, it is anticipated that new process developments, such as gas-assisted, foam, co-injection, and numerous components, will provide manufacturers with profitable opportunities.
The global injection molding machines market is classified into various segments: clamping force, machine type, solution, pressure type, application, and region.
Based on clamping force, the market is fragmented into less than 200 tons force, 200 to 500 tons force, and more than 500 tons force.
The more than 500 tons segment is expected to hold the largest market share during the forecast period with a CAGR of 5.5%. Large injection Molding machines with a force of more than 500 tons are appropriate for creating significant plastic components and parts. To promote the expansion of the market, manufacturers are placing a greater emphasis on the production of injection molding machines with a clamping force of over 500 tons that are both highly efficient and dependable. Nissei Plastic Industrial Co., Ltd., for instance, offers VFX Series injection molding machines with clamping forces of 5500kN, 6390kN, 8410kN, 10730kN, and 12800kN to make injection-molded industrial parts and other components. Furthermore, these computers are widely utilized by a variety of end consumers. Consequently, these factors are predicted to contribute positively to expanding the global injection molding machines market.
200 to 500 tons segment to have the second-largest share in the market. These devices are technologically advanced, versatile, efficient, and performance-oriented, among other characteristics. In addition, they are utilized extensively in numerous end-user industries, including the optical industry, packaging, automotive, and healthcare, among others. As a result, it is anticipated that these factors will propel the injection molding machines market development.
The global market is fragmented into electric, hydraulic, and hybrid based on the machine type.
The hydraulic segment is expected to have the largest share during the forecast period, with a CAGR of 5.4%. Machines of the hydraulic injection molding type have been introduced to the market by significant suppliers and regional competitors. In addition, these machines are widely utilized in a variety of end-user industries, including automotive, healthcare, and others, due to the numerous advantages they provide, such as improved injection rates, increased clamp force for large parts, high resistance to wear & tear a lower initial purchase price, and lower maintenance costs. Consequently, all of these factors are anticipated to stimulate the expansion of the global market.
The all-electric segment is expected to have the second-largest share. The all-electric injection Molding machine is a piece of equipment that only utilizes energy when required for a particular operation, and the motor output is matched to load needs. The features given by all-electric injection molding machines, such as high precision and repeatability, contribute to the injection molding machines market's expansion.
Based on solution type, the market is segmented into new sales and aftermarket.
New sales are expected to hold the largest market share with a CAGR of 5.7% during the forecast period. The manufacturing industry needs injection molding machines to mass-produce injection-molded plastics. With the aid of these machines, the production of high-quality, mass-produced plastic products has been streamlined. The injection molding equipment streamlines the manufacturing process's complexity. Depending on the model and specifications of the product to be manufactured, it can produce the product in various shapes and sizes and with various characteristics. Numerous firms are creating injection molding machines with sophisticated characteristics such as fast working speed, power efficiency, and enhanced performance, enhancing the demand for these machines.
The manufacturers and distributors of injection molding machines generate the most revenue by offering services and repair parts for injection molding equipment. This aftermarket includes maintenance, repair, replacement components, and additional services (inspection, design, and training). Services are less expensive than their corresponding product costs.
Based on pressure type, the market is fragmented into low and high pressure.
The high-pressure segment is expected to have the largest share growing with a CAGR of 5.7% during the forecast period. Large high-pressure injection Molding machines help produce large plastic parts and components, including toys, board games, syringes, bumpers, and floor covers. The price of high-pressure injection molding machines is significantly more than that of low-pressure injection molding machines. Moreover, these devices are utilized extensively by other industries, including the automotive industry. These occurrences are projected to propel the market for injection molding machines forward.
A low-pressure injection Molding machine with a low-pressure Molding chamber can produce structural foam, structural web, and solid Molding. The mold cavity pressure of low-pressure injection molding machines is 10 to 20 times lower than that of conventional injection molding machines. Low-pressure injection Molding machines demand a lower initial investment than high-pressure injection molding equipment.
Based on application, the market is divided into automotive, packaging, electronics, healthcare, consumer goods, toy making, building and construction, home appliances, and others.
The automotive segment will hold the largest market share with a CAGR of 5.5% during the forecast period. Low pressure and high-pressure injection molding machines are commonly used in automobiles to produce small and big components such as vehicle interior, car body, glazing, lighting, headrest, and sheet.
Packaging will hold the second-largest share. Components such as packaging and wire spools are manufactured with injection molding equipment. The packaging industry should be reusable, environmentally friendly, and pure. In the packaging sector, a wide range of plastics are commonly employed. Highly efficient, high-speed injection Molding machines are utilized in the packaging business.
The regional segments of the global injection molding machines market include North America, Europe, Asia-Pacific, and LAMEA.
Asia-Pacific And Europe Are Expected To Dominate The Regional Market
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Asia-Pacific will hold the largest regional market share with a CAGR of 6.3% during the forecast period. Countries like China, India, and Indonesia are anticipated to contribute to Asia-Pacific injection molding machines market growth due to the region's growing need for injection-molded plastics products. This is a result of the growth of the packaging business. In addition, notable firms such as NISSEI Plastic Industrial Co. Ltd. and Japan Steel Works Ltd. are implementing various tactics, including cooperation, acquisition, and others, to accelerate the market's growth.
Europe will hold the second largest market share of USD 4,833 million with a CAGR of 4.9% during the forecast period. The European region has witnessed an increase in the adoption of all-electric injection molding machines due to their high quality and energy-saving characteristics. In addition, essential players are exerting significant effort to provide injection molding machines that meet the needs of their clients by supplying customized and machine-type-based machines. Europe's economic growth has resulted in a larger consumer market, which has indirectly helped the entire injection-molded plastics sector. In addition, the rise of the packaging, vehicle, and electrical appliance industries is anticipated to enhance the need for injection-molded plastics, accelerating the market for injection molding machines in Europe.
North America will grow with the highest CAGR during the forecast period. Increased demand for all-electric injection molding machines, due to their energy-saving, high-speed, and high-quality characteristics, is anticipated to drive injection molding machines' market expansion. All-electric injection Molding machines account for approximately 50% of the Molding machines sold annually in the United States. In addition, an increase in demand for injection-molded plastic goods in sectors such as automotive, healthcare, and others is expected to drive injection molding machines market expansion.