According to a new report published by Allied Market Research, titled, “Injection Molding Market by Clamping Force, Machine Type, Solution, Pressure Type and Application: Global Opportunity Analysis and Industry Forecast, 2021–2030,”
The global injection molding machine market size was valued at $9.4 billion in 2020, and is projected to reach $15.9 billion by 2030, registering a CAGR of 4.9% from 2021 to 2030
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By clamping force, the market is segmented into less than 200 tons force, 200-500 tons force and more than 200-500 tons force. Among these, the more than 200-500 tons force segment accounted for the highest market share in 2020 and less than 200 tons force is expected to witness significant growth during the forecast period, owing to increase in demand from the manufacturing sector. The market is analyzed with respect to different applications such as automotive, packaging, electronics, healthcare, consumer goods, toy making, building and construction, home appliances and other industrial verticals. Developments in the global manufacturing industry and increase in investment in automotive, food & beverage, electronics, and healthcare industries drive the growth of the market. However, factors such as high initial cost and part design restrictions limit the growth of the market.
In 2020, Asia-Pacific dominated the global injection molding machine market, in terms of revenue, accounting for around half the share of the injection molding machine industry, followed by Europe and North America. Moreover, the market in LAMEA region is growing with a high CAGR, owing to growth of the manufacturing industry in the region.
The rise in demand for automobiles and electronic products and home appliances has significantly increased the use of plastic owing to its suitability for manufacturing a wide range of components. The increased use of plastic has driven the growth of the injection molding machines market, owing to its capability to efficiently mold plastic with minimum wastage
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Furthermore, injection molding machine market growth of packaging industry has positively influenced the market as plastic components such as bottles and containers are extensively used in packaging industry. In addition, various government initiatives and free trade agreements across the globe have fueled the growth of the processed food and beverage industry, thereby boosting the demand for injection molding machines for producing various packaging components.
Furthermore, on the basis of application, the packaging segment is anticipated to grow rapidly, with a CAGR of xx% during the forecast period, owing to growth of pharmaceutical and food & beverage industry in emerging economies.
For instance, according to India Brand Equity Foundation, the value of Indian drug and pharma exports reached $5.78 billion between April 2021 and June 2021, and Indian pharmaceutical industry received FDI of $130 million during the same period. In November 2020, around 15 countries from the Asia-Pacific region signed the Regional Comprehensive Economic Partnership (RCEP), which is a free trade agreement that is anticipated to boost various manufacturing industries including food & beverage in the region.
However, during the pandemic lockdown, various manufacturers in the injection molding machine market had to stop their businesses in countries such as China, the U.S., and India. This break directly impacted the sales of injection molding machine manufacturing companies. In addition, lack of manpower and raw materials also constricted supply injection molding machine components, and has negatively influenced the growth of the market. However, reopening production facilities and introduction of vaccines for coronavirus disease are anticipated to lead to re-opening of injection molding machine companies.
The key players profiled in the market report include ARBURG, ENGEL, Haitian International, Husky Injection Molding Systems, KraussMaffei Group, Milacron Holdings Corp., Nissei Plastic Industrial Co., Ltd., Sumitomo Heavy Industries, The Japan Steel Works, and Ube Industries, Ltd.
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Key Findings Of The Study
- The report provides an extensive analysis of the current and emerging injection molding machine market trends and dynamics.
- By clamping force, the more than 200-500 tons force dominated the injection molding machine market share, in terms of revenue in 2020 and the less than 200 tons force segment is projected to grow at a significant CAGR during the forecast period.
- By application, the automotive segment registered highest revenue in 2020.
- By region, LAMEA is projected to register highest growth rate in the coming years.
- The key players within the market are profiled in this report, and their strategies are analyzed thoroughly, which help understand competitive outlook of the injection molding machine.
- The report provides an extensive analysis of the current trends and emerging opportunities of the injection molding machine industry.
- In-depth injection molding machine market analysis is conducted by constructing estimations for the key segments between 2021 and 2030
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports Insights” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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