Plastic Injection Molding Machines Industry Analysis and Business Opportunities Forecast, 2024-2032

Plastic Injection Molding Machines Market

Dublin, Oct. 24, 2024 (GLOBE NEWSWIRE) -- The "Plastic Injection Molding Machines Market Size, Industry Dynamics, Opportunity Analysis and Forecast for 2024-2032" report has been added to ResearchAndMarkets.com's offering.The Global Plastic Injection Molding Machines Market is experiencing robust expansion, valued at US$ 7.63 billion in 2023 and projected to grow at a CAGR of 5.63% from 2023 to 2032.

Hybrid injection molding machines are expected to gain popularity from 2024 to 2032 due to their blend of electric and hydraulic attributes, offering enhanced efficiency and precision.

Automotive and healthcare sectors driving demand for plastic products.

The market is highly competitive, with major players like Haitian International Holdings Limited and Engel Austria GmbH leading the charge, driven by investments in R&D and strategic collaborations.

Asia-Pacific is at the forefront of market growth, driven by rapid industrialization, increased manufacturing investments, and supportive government policies.

Growth InfluencersThe increasing demand for plastic products in the automotive and healthcare sectors is significantly driving the growth of the Global Plastic Injection Molding Machines Market.

In the automotive industry, the rising adoption of plastic components is pivotal, as manufacturers seek lightweight materials to enhance fuel efficiency and reduce emissions while maintaining safety and performance standards. Plastic injection molding is ideal for producing intricate parts like dashboards, bumpers, and battery casings for electric vehicles, meeting the needs of both traditional and emerging automotive technologies.Similarly, the healthcare sector's reliance on plastic for its versatility, biocompatibility, and sterilization capabilities boosts the demand for injection molding machines. Medical devices such as syringes, inhalers, and surgical instruments benefit from the consistent quality and mass production capabilities of plastic injection molding.Additionally, industrialization, technological advancements, and urbanization in countries like India, Indonesia, and China are expected to spur further growth in the injection molding machine market. These nations' construction and infrastructure expansion, alongside their status as major exporters of plastic products, underscore the critical role of injection molding machines in various industries, driving both domestic and international market growth.Segment OverviewThe Plastic Injection Molding Machines market is categorized based on offering, deployment, tool, and end user.By Machine Type

Electric

Hydraulic

Hybrid

In 2023, hydraulic machines dominated the market due to their high injection pressure capabilities and cost-effectiveness, making them a long-standing industry standard.

However, from 2024 to 2032, hybrid machines are expected to gain more traction. Hybrid machines integrate the best attributes of both electric and hydraulic machines, offering enhanced efficiency, precision, and repeatability. They combine the precision of electric machines with the power of hydraulic systems, making them highly suitable for sectors like automotive, packaging, and consumer goods. The shift towards hybrid machines is driven by the need for energy-efficient and eco-friendly manufacturing solutions, with hybrid machines projected to register the highest CAGR in this period.

By Clamping Force

0-200 Ton Force

201-500 Ton Force

Above 500 Ton Force

0-200 Ton Force, 201-500 Ton Force, and above 500 Ton Force. In 2023, the 201-500 Ton Force category led the market. These machines are versatile and applicable across various industries, making them a preferred choice. This segment is also projected to experience the highest CAGR from 2024 to 2032, driven by the rising demand for medium-sized molded parts in sectors such as automotive, packaging, and consumer goods. These machines are known for producing components with exceptional precision and consistency, capable of high-speed production to meet increasing demand.

By Machine Structure

Vertical Injection Molding Machines

Horizontal Injection Molding Machines

The Plastic Injection Molding Machines market is also segmented by machine structure into Vertical and Horizontal Injection Molding Machines. In 2023, Horizontal machines dominated the market due to their operational ease and flexibility in molding a wide variety of products.

However, a shift towards Vertical Injection Molding Machines is anticipated from 2024 to 2032. Vertical machines are gaining popularity due to their compact footprint and ease of insert molding, making them suitable for producing complex parts with superior accuracy. The vertical configuration enhances control over the injection process, leading to high-precision components, which is expected to drive the segment's growth significantly.

By Secondary Process

Ultrasonic Welding

Pad Printing

Silk Screen

Job Assembly

Hot Plate Welding

Others

The industry encompasses several secondary processes, including ultrasonic welding, pad printing, silk screen, job assembly, hot plate welding, and others. In 2023, ultrasonic welding led the market due to its efficiency, speed, and ability to create robust, leak-proof bonds. This process is particularly favored in the automotive, medical, and electronics sectors, where strong, precise, and clean bonds are essential. The demand for ultrasonic welding is expected to grow significantly from 2024 to 2032, driven by its rapid processing capability and the ability to join dissimilar materials without additional additives or filler material.

By Sales Channel

Direct

Distributor

The market is divided into direct sales and distributor sales channels. In 2023, distributor sales led the market, leveraging broad networks to reach diverse customer bases and offering value-added services like after-sales support and technical assistance.

However, from 2024 to 2032, a shift towards direct sales is anticipated. Direct sales enable manufacturers to establish closer relationships with customers, leading to better understanding of customer needs, enhanced service, and potentially higher profit margins due to the elimination of intermediary costs. This method is expected to register the highest CAGR in the coming years.

By Industry

Automotive

Electronics and Telecommunication

Healthcare

Packaging

Aerospace

Food & Beverage

Construction

Consumer Goods

Others

The Plastic Injection Molding Machines market serves various sectors, including automotive, electronics and telecommunication, healthcare, packaging, aerospace, food and beverage, construction, consumer goods, and others. In 2023, the automotive sector led the market due to the high demand for lightweight, durable plastic components that enhance fuel efficiency and performance. Plastics do not rust or corrode, which prolongs the lifespan of automotive components. The sector is projected to experience continued growth at the highest CAGR from 2024 to 2032, driven by the increasing demand for lightweight materials to improve fuel efficiency and reduce emissions, as well as the rising trend of electric vehicles that require numerous plastic components.Regional OverviewBased on Region, the market is divided into North America, Europe, Asia Pacific, Middle East and Africa, and South America.

In 2023, Asia Pacific led the global plastic injection molding market due to rapid industrialization, growth in the automotive and electronics industries, and a growing population. From 2024 to 2032, it is expected to have the highest CAGR, driven by increased manufacturing investments, technological advancements, and supportive government policies like tax incentives and subsidies. The integration of robotics and automation is enhancing precision and efficiency in manufacturing.In North America and Europe, the injection molding industry is revitalized by the automotive sector's focus on fuel efficiency and electric vehicles. The demand for lightweight, customizable plastic parts is rising, supported by advancements in machine learning and digital controls. Sustainability is also a priority, with manufacturers adopting greener practices and materials. The convergence of innovation, policy, and market demands is driving significant growth in the global plastic injection molding machines market, particularly in the Asia Pacific.Competitive LandscapeThe Plastic Injection Molding Machines market is highly competitive, with major players such as Haitian International Holdings Limited, Engel Austria GmbH, Chen Hsong Holdings Limited, Sumitomo Heavy Industries, Ltd., The Japan Steel Works, Shibaura Machine Co. Ltd., and Fu Chun Shin Machinery Manufacture Co. Ltd. Together, they hold about 54% of the market share. This competitive environment is driven by significant investments in research and development, along with strategic partnerships and collaborations.

Key competitive factors include pricing, product quality, and technological innovation. As the industry grows, competition among these companies is expected to intensify, with a strong focus on innovation and adapting to evolving customer preferences and regulations. This dynamic landscape will likely see increased novel innovations and strategic growth initiatives from these leading firms, driving overall market expansion and transformation.Key Attributes

Report Attribute

Details

No. of Pages

691

Forecast Period

2023-2032

Estimated Market Value (USD) in 2023

$7.63 Billion

Forecasted Market Value (USD) by 2032

$12.29 Billion

Compound Annual Growth Rate

5.6%

Regions Covered

Global

A selection of companies mentioned in this report includes, but is not limited to:

Arburg GmbH & Co. KG

Borche North America Inc.

Chen Hsong Holdings Limited

Dongshin Hydraulic Co. Ltd.

Dr. Boy GmbH & Co. KG

Engel Austria GmbH

Fu Chun Shin Machinery Manufacture Co. Ltd.

Haitian International Holdings Limited

Hillenbrand, Inc.

Husky Injection Molding Systems

Krauss Maffei Group

Shibaura Machine Co. Ltd.

Sumitomo Heavy Industries

The Japan Steel Works

Ube Industries, Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/ilkylc

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Plastic Injection Molding Machines Market

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