Acumen Research and Consulting recently published a report entitled “Plastic Injection Molding Market – Global Industry Analysis, Market Size, Opportunities, and Forecast 2021-2028”.
NEW YORK, October 13, 2021 (GLOBE NEWSWIRE) – The global Plastic injection molding market it is expected that Reach US $ 14.5 billion in 2028 and is register CAGR of 3.5% from 2021 to 2028.
The thriving healthcare sector in North America and the increasing use of injection molding in the manufacture of medical devices should fuel the growth of the plastic injection molding market in the region. North America dominated the global growth of the plastic injection molding market Acquisition sales of $ 1.8 billion in 2020.
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The strict US FDA regulations regarding the use of plastic in medical devices and manufacturers’ approach to adopting a cost-effective manufacturing process are expected to increase demand for plastic molding machines. The medical device market in the The US totaled $ 156 billion in 2017 and is expected to reach $ 208 billion in 2023. Achieved with the increasing export of medical products from the country up to $ 43 billion, the growth of plastic injection molding machines is expected to increase. Injection molding would help manufacturers develop products with reduced weight, low cost, and increased functionality. The government spends a lot of money on expanding the health infrastructure to support R&D activities. Consumer propensity to adopt home care is the reason the government is introducing certain standards for the manufacture of medical devices. Manufacturers must achieve a certain level of quality from the point of view of reducing production costs.
|market||Plastic injection molding market|
|Covered segments||According to machine type, according to
End user industry and by geography
|Regional scope||North America, Europe, Asia Pacific, Latin America
America, Middle East and Africa
|Profiled key companies||Alpine Electronics, Inc., Clarion Co., Ltd.,
Continental AG, Aptiv plc, Denso Corporation,
Harman International Industries, JVC Kenwood
Corporation, SK Telecom Co, Panasonic
Corporation, Pioneer Corporation, Visteon
Company and among others
|Report coverage||Market trends, drivers, restrictions, competition
Analysis, player profile, regulation analysis
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The Asia-Pacific region is experiencing rapid development due to the rapid technological and infrastructural development in countries such as China, India, Malaysia, etc. Consumer spending on electronic equipment / products is increasing. The presence of a large number of players in the country and the introduction of new smart solutions are attracting consumers. Sales of consumer electronics and household appliances in India increased 23% in 2021 and the demand for electronic hardware is expected Reach $ 400 billion by 2024. Developing country governments offer positive business policies to entrepreneurs. The availability of 100% FDI and tax benefits along with the easy availability of raw materials and inexpensive labor attracts players around the world to venture into this region. Plastic is usually a better raw material for electronic products. Plastic offers advantages such as high flexibility, low cost and micro-tolerance properties, making it preferred over other materials. This should increase the demand for plastic injection molding machines.
It is expected that the high demand for plastic injection molding from various end-user industries, coupled with a growing awareness of manufacturers regarding the advantages of plastic injection molding, will increase the demand for plastic injection molding machines. The increasing construction activity in countries such as Brazil and India increases the demand for heat and pressure-resistant products. It is expected that this will increase the acceptance of plastic injection molding machines by building product manufacturers.
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In addition, the high demand from the automotive sector for efficient components is supporting market growth. However, the changing regulations regarding the use of plastics and the volatility of the prices of raw materials such as ethylene and propylene are some aspects that are expected to affect the growth of the plastic injection molding market. In addition, strict environmental regulations for the disposal of plastic products are hampering market growth. The increasing production capacities of manufacturers and the tendency to develop environmentally friendly and inexpensive raw materials are some of the growth opportunities for companies in the coming years. In addition, the strategic business partnership and the acquisition of the product portfolio are expected to support the sales transaction of the market.
The global plastic injection molding market is divided into machine types and end uses. The machine type is divided into hydraulic injection molding machines, fully electric injection molding machines and hybrid injection molding machines. The hydraulic injection molding machine was among the machine types Sales share of 48% in 2020 in the world market for plastic injection molding. The high preference for hydraulic injection molding machines is due to the low maintenance requirements and better performance. The end-use segment is divided into automotive, consumer goods, packaging, healthcare, electrical and electronic equipment, and others. Players in the global plastic injection molding market are Husky Injection Molding Systems Ltd, Sumitomo Heavy Industries Ltd, Haitian International Holdings Limited, The Japan Steel Works Ltd, Chen Hsong Holdings Limited, and Engel Austria GmbH.
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