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The Worldwide Plastic Injection Molding Machine Industry
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The «Global Plastic Injection Molding Machine Market by Type (Hydraulic, All-Electric, Hybrid), Clamping Force (0-200, 201-500, Above 500 Tons Force), End-use Industry, and Region – Forecast to 2025» report has been added to ResearchAndMarkets.com’s offering.Get more news about Injection Machine,you can vist our website!
The global plastic injection molding machines market is estimated at USD 8.9 billion in 2020 and is projected to reach USD 10.6 billion by 2025, at a CAGR of 3.61%.
Plastic molds are widely used in the healthcare industry. Plastic injection molding machines are preferred for manufacturing medical products, as these machines offer high precision, accurate, and complex injection molded parts. These machines have application in surgical and medical devices such as syringes, vials, medical instruments, inhalers, cannulated, medicinal connectors, air systems, and prescription bottles.
The outbreak of coronavirus across the globe has highlighted the healthcare industry. Due to explosive surge in the number of Covid-19 cases, the demand for medical equipment like syringes, air systems, and other medical instruments increased exponentially. Countries such as India and China became the hub for manufacturing and meeting the demand for all these equipment across the globe.The 201-500 ton-force segment accounted for the largest market share in terms of value, in 2019 and is projected to register the highest CAGR during the forecast period. This high growth is attributed to the rising demand for medium-sized molded parts from major end-use industries such as automotive, packaging, and consumer goods. The clamping force of 201-500 ton-force is mainly used in medium-sized plastic injection molding machines. Machine types such as hydraulic, all-electric, and hybrid are available in 201-500 ton-force. These machines are mainly used for applications in the automotive, packaging, and consumer goods industries, where relatively medium-sized molded parts are required.
Hydraulic injection molding machine is the most popular machine type, primarily because of its long service life and a wide range of applications. The hydraulic injection molding machine consists of a fixed-speed, three-phase motor, and a variable-volume pump. Hydraulic injection molding machines have a long life, far drive distance, and low maintenance cost. This type of machine helps in significant reduction of production cycle time. Molders mainly use high-tonnage hydraulic machines for molding large parts. This machine is mainly used for producing high precision plastic components such as automotive parts, caps & closers, consumer goods, electrical & electronics goods, and medical items.
Plastic injection molding machines are predominantly used in manufacturing automotive components, interior wrapping, and assembly parts, such as automotive exteriors, car lenses, interior components, under-the-hood components, and filter components. A strong shift in the use of plastics instead of iron and steel in the automotive industry is expected to drive the plastic injection molding machine market during the forecast period. Stringent government regulations have forced automotive manufacturers to use plastics instead of other materials such as iron and steel. Rapid economic growth, improved infrastructure, and rising middle-class population in emerging economies have led to an increase in vehicle production and sales, which, in turn, increase the demand for plastic injection molding machines. The rapidly growing automotive industry in APAC is also one of the major factors driving the plastic injection molding machine market.