Injection molding machine performs injection molding process used to manufacture parts or products of plastic, metal, ceramic, and rubber. It injects the melted material into the shaping mold, where it cools and solidifies, taking the shape of the component. According to BlueQuark Research & Consulting, the global Injection molding machine market is expected to witness a significant growth rate during the forecast period. Factors such as the growing demand for Injection molding machine in the automobile industry due to the shift in the use of plastic materials in automotive parts instead of the conventional iron and steel is expected to drive the injection molding machine market. The demand for injection molded parts made from medical grade plastic that meets the FDA regulations is on the surge due to its cost-efficiency, consistency, and tight tolerance, increasing the demand for Injection molding machines. Furthermore, the increasing usage of injection molded parts in plumbing fittings and electrical components in the construction industry further increases the demand for injection molding machines. However, the high investments cost in setting up an injection molding machine and its high maintenance and part replacement costs are expected to hamper the growth of the injection molding market in the forecasted years.
Injection molding machines are used to manufacture automotive exterior components, car lenses, automotive interior components, filter components, medical enclosures, needles, tubes, dental implants, prosthetics, etc. It serves various end-users like Automotive, Construction, and Medical Industries.
The Automotive components manufacturing Industry is a prime consumer of Injection molding machines globally and is expected to drive the future market. The increasing research and development in the automotive industry, accompanied by the need to develop lightweight, affordable, and fuel-efficient vehicles, encourage manufacturers to use plastic components instead of conventional metal and iron. As plastic in design and manufacturing has never been more essential, the demand for injection molding machines is on the surge in the automobile industry. In recent years, plastic has become one of the critical materials required for automotive vehicles' performance, structure, and safety. The use of injection molded parts gives the manufacturers freedom in design and to make the vehicle even more aerodynamic as they offer more design freedom than metals. The medical and healthcare industry is the fastest-growing sector in the world. The demand for injection-molded parts is expected to rise owing to the advantages of improved ergonomics, reduced weight, increased functionality, lower cost, and decreased burden of sterilization over the use of metals. Since its inception, the artificial limbs and devices sector has thrived as using plastics reduces the risk of infection among patients. Thus, medical plastic injection molding has directly led to increased patient safety and reduced operational cost for the organizations. This increasing demand in the automotive and medical sectors propels the growth of injection molding machines in the forecasted years.
The Covid-19 pandemic has affected nearly the entire population directly or indirectly. To stop the contamination spread amongst its citizen, in 2020, almost every country announced a nationwide lockdown. This lockdown harmed many industries resulting in a temporary shutdown of the manufacturing sites. Despite this, the demand for injection molds has surged. Every country started to manufacture the Covid-19 vaccination for its citizen. With a global population of over 7.8 billion, people are needed to be vaccinated against this deadly disease, thus increasing the demand for injection molding machines globally.
Major key players in the industry wereHaitian International Holdings Limited,Chen Hsong Holdings Limited,Sumitomo Heavy Industries Ltd,Engel Austria GmbH,Nissei Plastic Industrial Co. Limited,Kraussmaffei Group GmbH,Niigata Machine Techno Company, among others.
The Asia Pacific is expected to be the largest market for Injection Molding Machines in the forecasted year. Owing to the increasing population in the region, highly efficient automotive vehicles with better performances are increasing. The availability of cheap labor and raw material in the APAC region further drives the injection molded parts market in the region. The rapid development of new technologies in the region presents an ideal destination for the growth of the injection molding machine market. China's growth rate had been impressive in the last decades and the following decade is also expected to witness the same rise, making China a leader in Injection molding machine demand. Further, China has the most prominent automotive industry and is expected to consolidate its position as a prime Injection molding machine market. In the last two decades, China has undertaken a massive infrastructural project to revamp the country's infrastructure, which has attributed to China's recent success. Following this, China experienced a rise in urbanization, thus raising the demand for low-cost housing and commercial housing for its citizen. India is also emerging as a prominent hub for the injection molding machines market. This growth is attributed to the increasing automotive and booming healthcare industry. Invest India estimated that the Indian healthcare sector would grow from USD 1.9 billion in 2020 to USD 5 billion by 2023. This increasing demand in the automotive, construction, medical, and healthcare industry is expected to drive the injection molding market in the APAC region over the forecasted years.
SumitomoHeavy Industries Ltd releases a new injection molding machine, 'SEEV-A-HD CT-6 Spec', with excellent environmental friendliness, such as reducing power consumption and reducing the CO2 emissions by reducing the volume of the containers.
Global Injection molding machine Market report provides deep insight into the Industrial market's current and future state across various regions. The study comprehensively analyses the Injection molding machine market by segmenting based on the Type (All-Electric Machine, Hybrid Machine, Hydraulic Machine), Input Material (Rubber, Plastic, Ceramic, Metal), End-User Industry (Automotive, Packaging, Medical, and Healthcare, Construction, Others), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report examines the market drivers and restraints and the impact of Covid-19 on the market growth in detail. The study covers and includes emerging market trends, developments, opportunities, and challenges in the industry. This report also covers extensively researched competitive landscape sections with prominent companies and profiles, including their market shares and projects.