Plastic injection molding machine market
According to the latest market research “Market for plastic injection molding machines by machine type (hydraulic, fully electric and hybrid), clamping force (0-200 tons of force, 201-500 tons of force and over 500 tons of force), end-user industry (automotive, consumer goods, packaging, healthcare, electrical & Electronics and Others) and Region – Global Forecast to 2025 “, is projected to reach US $ 10.6 billion by 2025, with a CAGR of 2.74% from US $ 8.9 billion in 2020. A plastic injection molding machine will be used Manufacture of plastic products used. It consists of two main parts – an injection unit and a clamping unit. The injection unit is like an extruder, while the clamping unit is responsible for operating the mold. Plastic injection molding machines can fix the molds in either a horizontal or vertical position. There are three types of plastic injection molding machines – hydraulic injection molding machines, all-electric injection molding machines, and hybrid injection molding machines.
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Hydraulic injection molding machines are the largest type segment in the plastic injection molding machine market. APAC was the largest faux leather market in 2019, both in terms of volume and value. Factors such as growing demand from the healthcare industry, rapid industrialization in growing economies like China, India, and Thailand, and increasing demand for plastic molds in electric vehicles will drive the plastic injection molding machine market.
The all-electric injection molding machine uses an electric servo motor that drives gears, racks, and ball screws to power most of the machine’s functions. All-electric presses are noiseless, faster, and more accurate compared to other types of injection molding machines; However, the machine is more expensive. Since servomotors drive fully electric injection molding machines, they only need electricity when they are in operation. Fully electric injection molding machine can save up to 50-70% energy compared to hydraulic injection molding machines. The all-electric injection molding machine is currently the most preferred type of machine due to its lower cold water consumption, lower cleaning and preventive maintenance, lower energy and oil consumption, and lower repair rate. This means that the fully electric injection molding machine is the fastest growing segment in the forecast period.
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The plastic injection molding machine market size is estimated at $ 8.9 billion in 2020 and is projected to reach $ 10.6 billion by 2025, with a CAGR of 2.74% over the forecast period. Factors such as growing demand from the healthcare industry, rapid industrialization in growing economies like China, India, and Thailand, and increasing demand for plastic molds in electric vehicles will drive the plastic injection molding machine market. The biggest obstacle to the market will be the high acquisition and maintenance costs of the machines. However, the increasing awareness of energy savings will present an opportunity for the market.
Key market players named in the report include Haitian International Holdings Limited (China), Chen Hsong Holdings Limited (China), Sumitomo Heavy Industries Ltd. (Japan), Engel Austria GmbH (Austria), Hillenbrand, Inc. (USA) and others. They continuously pursue development strategies such as expansions, product launches, acquisitions as well as contracts and agreements in order to strengthen their position in the injection molding machine market.
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Haitian International Holdings Limited. is one of the major players in the plastic injection molding machine market. In order to strengthen the product portfolio, the company relies on organic growth in order to meet customer requirements. In May 2019, Absolute Haitian Corporation, Haitian International’s sales and service partner, expanded its North American operations with the opening of a 116,000 square foot building. in Moncks Corner, South Carolina, USA. Haitian has launched a new Jupiter 3 series that has better features than the Jupiter 2 series. It has better intelligent control and digitization of processes.
The companies have also chosen acquisition as a strategy to increase their share and market presence. Hillenbrand, Inc. completed the acquisition of Milacron Holdings Corp. in November 2019. for around $ 1.9 billion. In addition, Nissei Plastic Industrial Co., Ltd. acquired the NEGRI BOSSI SPA (NEGRI BOSSI) Group, a manufacturer of plastic injection molding machines in Italy.
Mr. Aashish Mehra
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Research findings: https://www.marketsandmarkets.com/ResearchInsight/plastic-injection-molding-machine-market.asp
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