Global Injection Molding Machine Market Size to Reach USD 25.23 Billion in 2032 | Emergen Research

Vancouver, Nov. 14, 2023 (GLOBE NEWSWIRE) -- The global injection molding machine market witnessed a notable market size of USD 17.50 billion in 2022, and it is set to maintain a steady growth trajectory with a projected revenue CAGR of 3.7% during the forecast period. Several key factors are driving this growth, including increased demand from the packaging industry and the automotive sector, a growing emphasis on energy efficiency, and consumer trends favoring on-the-go packaged products.

Injection molding machines play a pivotal role in the production of plastic containers, caps, closures, and various packaging components, offering design flexibility and cost-effectiveness. Furthermore, they contribute to energy savings and optimize available resources. The rising purchasing power of consumers has fueled the demand for on-the-go packaged products, further boosting the market. A recent development by Sumitomo (SHI) Demag showcases the integration of their high-speed El-Exis packaging platform with the IntElect all-electric series, introducing PAC-E, an innovative injection unit for high-speed packaging applications.

However, the market faces challenges in the form of high initial and maintenance costs, which may limit revenue growth. Injection molding technology enables manufacturers to produce identical parts in large quantities, enhancing reliability and consistency, especially in large-scale production.

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Material Insights:

The plastic segment emerged as the leading contributor to market revenue in 2022. This is attributed to the automotive industry's growing need for lightweight and cost-effective plastic parts. Plastic molded components offer high-volume solutions with cost-efficiency. The automotive industry's trend towards lightweight materials to enhance fuel efficiency has led to an increased demand for plastic molded parts. Additionally, there is a rising requirement for plastic components in medical device manufacturing.

The metal segment is expected to experience moderate revenue growth over the forecast period. High resistance to corrosion and the ability to manufacture complex geometries have led to an increased demand for metal molded products. The rising costs associated with plastic recyclability have prompted manufacturers to explore alternatives such as environment-friendly bioplastics with properties similar to traditional plastics.

Technology Insights:

The electric segment is set to dominate the market during the forecast period. This is due to the increasing demand for highly energy-efficient injection molding machines. Electric injection molding machines utilize electric motors for all process-relevant movements, ensuring energy efficiency. These machines come in various sizes and cater to a wide range of applications. Electric injection molding enhances precision and repeatability, while also optimizing operating costs by reducing expenses such as filter changes and material costs.

End-Use Insights:

The packaging segment is expected to lead the market throughout the forecast period. Injection molding finds extensive applications in the packaging industry, producing thin wall containers, beverage caps, closures, and specialty packaging. Increased consumption of packaging products in healthcare, personal care, and consumer goods sectors is driving revenue growth.

The electronics segment is projected to witness steady revenue growth. The production of smartphones, tablets, laptops, and electronic components benefits from injection molding, offering high accuracy and quality. Increasing populations and improved economic conditions are additional factors contributing to the segment's growth.

Regional Insights:

The Asia Pacific region secured the largest revenue share in 2022, driven by substantial Research & Development investments and a high concentration of injection molding companies, particularly in China. Rising consumer awareness and preferences for innovative technologies are expected to sustain market growth.

Europe, with a focus on the automotive industry, held the second-largest market share in 2022. The flexibility and customizability of metal injection molded components are attracting major investments.

North America, the third-largest market, is witnessing growth due to investments in healthcare infrastructure renovation and the use of metal injection molded parts in the aerospace and other industries.

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Scope of Research

Major Companies and Competitive Landscape

The global injection molding machine market is fragmented, with large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective products. Some of the major companies included in the global injection molding machine market report are:

• Arburg GmbH + Co KG
• Haitian International Holdings Limited
• Milacron
• Nissei Plastic Industrial Co., Limited
• Engel Austria GmbH
• Sumitomo (SHI) Demag Plastics Machinery GmbH
• Chen Hsong Holdings Limited
• Husky Injection Molding Systems Ltd,
• KraussMaffei Group
• Phillips Machine Tools India Pvt. Ltd.
• Toyo Machinery & Metal Co., Ltd.
•  Ved Machinery and Electronica Plastic Machines Limited
• Japan Steel Works Ltd.
• Electronica Plastic Machines Limited

Strategic Development

• On 3 April 2022, Westec Plastics, a leading custom injection molded for the medical and biotech industries, based in U.S., announced the addition of three new Arburg two-shot injection molding machines to its production facility. These machines include two 550-ton presses and one 275-ton press. In addition, these machines have indexing platens that help rotate the mold and receive multiple shots.
• On 7 October 2021, Beacon Manufacturing Group, a leading provider of custom-engineered molded products, assembled components, innovative solutions, and value-added engineering services based in U.S, announced the acquisition of Acromatic Plastics, a company that specializes in custom, high-quality injection molding, insert molding, and structural foam molding.

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For the purpose of this report, Emergen Research has segmented the global injection molding machine market on the basis of materials, technology, end-use, clamping force, and region:

• Materials Outlook (Revenue, USD Billion; 2019-2032)
  • Plastic
  • Metal
  • Rubber
  • Ceramic
  • Others
• Technology Outlook (Revenue, USD Billion; 2019-2032)
  • Hydraulic
  • Electric
  • Hybrid
• End-use Outlook (Revenue, USD Billion; 2019-2032)
  • Automotive
  • Consumer Goods
  • Packaging
  • Electronics
  • Healthcare
  • Others
• Clamping Force Outlook (Revenue, USD Billion; 2019-2032)
  • 0-200 tons’ force
  • 201-500 tons’ force
  • Above 500 tons’ force
• Regional Outlook (Revenue, USD Billion; 2019–2032)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. France
    3. UK
    4. Italy
    5. Spain
    6. Benelux
    7. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. South Africa
    4. Turkey
    5. Rest of Middle East & Africa

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