CHICAGO, April 20, 2021 /PRNewswire/ -- According to the new market research report "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 - Global Forecast to 2025", published by MarketsandMarkets™, the Injection Molding Machine Market is projected to reach USD 12.3 billion by 2025, at a CAGR of 3.6% from USD 10.3 billion in 2020.
An injection molding machine is used for manufacturing products made up of plastics, rubber, metal, and ceramic. It consists of two main parts - an injection unit and a clamping unit. The injection unit is like an extruder, whereas the clamping unit is concerned with the operation of the mold. Injection molding machines can fasten the molds either at the horizontal or the vertical position. There are three types of injection molding machines - hydraulic injection molding machines, all-electric injection molding machines, and hybrid injection molding machines.
Hydraulic injection molding machine is the largest type segment of the injection molding machine market. APAC was the largest market for synthetic leather in 2019, in terms of both volume and value. Factors such as growing demand from healthcare industry, rapid industrialization in growing economies like China, India & Thailand and increasing demand for plastic molds in electric vehicles will drive the injection molding machine market.
All-Electric injection molding machine is projected to be fastest growing machine type for injection molding machine market between 2020 and 2025
All-electric injection molding machine utilizes electric servo motor powering gears, racks, and ball screws to drive most of the machine functions. All-electric presses are noiseless faster, and more accurate as compared to other types of injection molding machines; however, the machine is more expensive. Since servo motors run all-electric injection molding machines, they require power only when they are in operation. All-electric injection molding machine can save up to 50–70% energy as compared to hydraulic injection molding machine. All-electric injection molding machine is currently the most preferred machine type owing to its lower use of chilled water, decreased housekeeping and preventive maintenance, less energy and oil consumption, and lower repair rate. Thus, All-Electric injection molding machine is the fastest growing segment during the forecast period.
Plastic is projected to be largest growing product type for injection molding machine market between 2020 and 2025
Injection molding is the manufacturing process for making plastic parts and products from thermoplastics and thermosetting materials. Commonly used plastic in the injection molding process are nylon, polypropylene, polystyrene, polyethylene, and unsaturated polyesters. Plastic products are manufactured using high-quality raw materials that ensure their superior quality. The injection molding process for plastic products involves heating the polymer until it is liquid and then using pressure to force it into the mold. The process is very fast and complicated. In spite of expensive tooling cost, injection molding is the most popular manufacturing process for mass production of plastic materials. Injection molding machines are used to produce various plastic products such as power-tool housing, telephone handsets, electrical switches, car bumpers, dashboards, syringes, disposable razors, and bottle lids/closures.
Healthcare is projected to be the fastest growing end-use industry in injection molding machine market between 2020 and 2025.
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.
APAC projected to be fastest growing region for the injection molding machine market during the forecast period
The APAC comprises major emerging nations such as China and India. Hence, the scope for the development of most industries is high in this region. The injection molding machine market is growing significantly and offers opportunities for various manufacturers. The APAC region constitutes approximately 61.0% of the world's population, and the manufacturing and processing sectors are growing rapidly in the region. The APAC is the largest injection molding machine market with China being the major market which is expected to grow significantly. The rising disposable incomes and rising standards of living in emerging economies in the APAC are the major drivers for this market.
The key market players profiled in the report include Kuraray Co. Ltd. (Japan), San Fang Chemical Industry Co. Ltd. (Taiwan), Teijin Limited (Japan), Mayur Uniquoters Limited (India), NAN YA plastics corporation (Taiwan), Filwel Co. Ltd. (Japan), Zhejiang Hexin Industry Group Co., Ltd. (China), Alfatex N.V. (Belgium), H.R. Polycoats Pvt. Ltd. (India), and Yantai Wanhua Synthetic Leather Group Co. Ltd. (China).
METAL INJECTION MOLDING MARKET, Material Type (Stainless Steel, Low Alloy Steel, Soft Magnetic Material) End-Use Industry (Electrical & Electronics, Automotive, Consumer, Industrial, Medical & Orthodontics, Firearms & Defence) – Global forecast to 2022
LIQUID SILICONE RUBBER MARKET, Grade (Industrial, Medical, Food), Application (Automotive, Medical (Implants, Medical Devices), Electrical & Electronics (Insulation, and Electrical & Optical), Consumer Goods), Region – Global Forecast to 2026
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.