New York, July 31, 2023 (GLOBE NEWSWIRE) -- The global resin moulds market is estimated to be valued at US$ 3.44 billion in 2023 and is projected to reach a value of US$ 6.02 billion by the end of 2033. Market growth during the forecast period is expected to be driven by growing demand for unique and customized products and a rise in the adoption of additive manufacturing.
The market in North America is one of the largest and most diverse in the world. The growth of the resin moulds market can be attributed to factors such as increasing participation in crafts and DIY activities, adoption of advanced materials, and advancements in manufacturing technologies in the region.
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Increasing environmental concerns and regulations impact market growth, as they contribute to the growing demand for sustainable packaging solutions. Resin moulds are utilized to produce eco-friendly packaging materials, such as biodegradable or recyclable containers and packaging components.
Key Takeaways from Market Study
- The market for resin moulds is anticipated to expand steadily at a CAGR of 5.8% during the forecast period.
- Sales of silicone moulds are expected to rise at a CAGR of 5.5% through 2033.
- By resin type, demand for synthetic moulds is projected to rise at a CAGR of 4%. Synthetic resin moulds have gained popularity due to their purity and more predictable behavior.
- The online retailers segment is expected to expand at a CAGR of 8.5% through 2033.
“Growing demand for lightweight material fueling the demand for resin moulds in various use cases. Further, increasing need for materials that have rapid prototyping and shorter product development cycles will further drive the market over the coming years,” says an analyst at Persistence Market Research.
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Key Segments of Resin Moulds Industry Research
- Material: Silicone, Latex, Plaster, Metal, Fiberglass, Others
- Resin Type: Natural, Synthetic
- Application: Lightweight Jewellery, Decorative Articles, Others
- Sales Channel: Hypermarkets/Supermarkets, Departmental Stores, Specialty Stores, Independent Small Stores, Online Retailers, Direct Sales, Indirect Sales, Other Sales Channels
Key Market Players
The report underlines ground-breaking insights into the competitive scenario of the global resin moulds market, along with the highlights of differential strategies used by manufacturers.
Some of the leading manufacturers of resin moulds are Vkinman, Hamilton Beach, Resin Go, Meccanixity, TOODOO, Wealike, Haphiz, Cayway, HASTHIP, Bantey Banatey, Goodern, KASTWAVE, DELFINO, and FineGood.
Recent Developments
- In response to market demand for single-use utensils, Loliware Inc., a seaweed-based material technology company, will produce an injection-moulding grade of their seaweed-based resin in 2023.
- In 2023, Hexcel, a leading maker of carbon fibre reinforcements and resin systems, will launch a new RTM resin. This resin is suited for high-volume production of tiny to medium-sized parts, enabling long-lasting and efficient injection techniques.
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Know More about Report Inclusions
Persistence Market Research published a new market report on the global resin moulds market, covering a global industry analysis for 2018 to 2022 and forecasts for 2023 to 2033. This research report provides compelling insights based on resin type, application, material, and sales channel, across major regions of the world.
The report also includes forecast factors and vital macroeconomic factors that are anticipated to boost the growth of the global market. It also addresses the restraints that are projected to hinder market growth, along with the latest trends and potential opportunities in the market.
For additional information on how the resin moulds market will shape up in the near future, write to the team of expert research analysts at media@persistencemarketresearch.com
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