Dublin, Nov. 24, 2022 (GLOBE NEWSWIRE) — The “Global Injection Molding Machine Market by Machine Type (Hydraulic, All-electric, and Hybrid), Clamping Force (0-200, 201-500 and Above 500), Product Type (Plastic, Rubber, Metals), End-Use Industry (Automotive, Packaging) and Region – Forecast to 2027” report has been added to ResearchAndMarkets.com’s offering.
The injection molding machine market is projected to reach USD 12.4 billion by 2027, at a CAGR of 3.6% from USD 10.4 billion in 2022. Plastic molds are used extensively in the healthcare industry. For production, injection molding equipment is preferred because it produces parts with a high degree of precision, accuracy, and complexity at a low cost.
201-500 Tons Force is projected to grow at highest CAGR, by clamping force, during the forecast period
The 201-500 ton-force segment accounted for the largest market share in terms of value, in 2021 and is projected to register the highest CAGR during the forecast period. This high growth is because of the rising demand for medium-sized molded parts from prominent end-use industries such as automotive, packaging, consumer goods, and electrical & electronics. Medium-sized injection molding machines are mainly machines with a clamping force of 201-500 tons force. Machine types such as hydraulic, all-electric, and hybrid are all available in 201-500 ton-force. These machines are mainly used for medium-sized molded parts which are used in applications for automotive, packaging, and consumer goods industries.
Plastic product type is projected to grow at highest CAGR, during the forecast period
The injection molding machine market for plastic products accounted for the largest in terms of value, in 2021. Injection molding is the manufacturing process for the production of plastic parts from thermoplastics and thermosetting materials with accuracy and low waste in a short time duration. Most commonly used plastic in the injection molding process are polypropylene, polystyrene, polyethylene, polycarbonate, ABS, nylon, and unsaturated aliphatic polyesters. Plastic products, which are manufactured using injection molding machines are of usually high-quality raw materials that ensures their superior quality. The injection molding process for plastic products involves feeding and heating the polymer then compressing using pressure to force it into the mold. This process is very fast and complicated. In spite of expensive tooling costs, injection molding is the most favored manufacturing process for the mass production of plastic materials. Injection molding machines are used to produce various plastic products in day-to-day life such as bottles, chairs, telephone handsets, electrical switches, car bumpers, dashboards, syringes, disposable razors, and toys.
Hydraulic injection molding machine is the largest machine type for injection molding machine market in 2021
Hydraulic injection molding machine is the most popular machine type, mainly because of its long service life and wide range of applications in automotive, packaging, and consumer goods. The variable-volume pump and a fixed-speed, three-phase motor make up the hydraulic injection molding machine. Hydraulic injection molding machines have a long lifespan, a great drive distance, and fewer maintenance requirements. The production cycle time is significantly shortened with the aid of this kind of machine. For large molding parts mainly the high-tonnage hydraulic machine is used. This machine is mostly used for manufacturing high-precision plastic components such as consumer goods, electrical & electronics goods, automotive parts, caps & closers, and medical supplies.
- High Demand from Packaging Industry
- Rising Awareness About Energy Saving
- Growth of Automotive Sector to Drive Demand for Large Plastic Molds
- Increased Demand for Consumer Electronics
- Developments in Injection Molding Technology
- High Initial and Maintenance Cost of Machines
- Growing Demand from Healthcare Industry
- Rising Demand for Large-Tonnage Injection Molding Machines
- Rising Trend in Electric Vehicles to Increase Demand for Injection Molds
- High Heating and Hydraulic Pressure
- Less Economical for Small Production Capacities
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Injection Molding Machine Market, by Product Type
8 Injection Molding Machine Market, by Machine Type
9 Injection Molding Machine Market, by End-Use Industry
10 Injection Molding Machine Market, by Clamping Force
11 Injection Molding Machine Market, by Region
12 Competitive Landscape
13 Company Profiles
14 Adjacent and Related…