Chicago, March 02, 2023 (GLOBE NEWSWIRE) -- The global Plastic Injection Molding Machine Market was valued at USD 8.9 billion in 2020 and is projected to reach USD 10.6 billion by 2025, growing at a CAGR 2.74% from 2020 to 2025, as per the recent study by MarketsandMarkets™. Lubricants are defined as various compounds like fluids, oils, and greases. Lubrication is an essential process for numerous industries as it helps to reduce the friction between moving parts or surfaces to enhance the efficiency of machines.
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Browse in-depth TOC on “Plastic Injection Molding Machine Market”
251 - Market Data Tables
52 - Figures
250 - Pages
List of Key Players in Plastic Injection Molding Machine Market:
- 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)
- Yantai Wanhua Synthetic Leather Group Co. Ltd. (China)
- Others
Drivers, Restraints, and Opportunities in Plastic Injection Molding Machine Market:
- Drivers: Rising awareness about energy saving
- Restraints: High initial and maintenance costs of machines
- Opportunity: Demand for large-tonnage plastic injection molding machine
Key Findings of the Study:
- All-Electric is the fastest growing machine- type for plastic injection molding machine during the forecast period
- Automotive is estimated to be the largest end-use industry in plastic injection molding machine market between 2020 and 2025
- APAC is expected to be the largest plastic injection molding machine market during the forecast period, in terms of value and volume
- Europe is estimated to be the second largest plastic injection molding machine market during the forecast period
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Based on machine type, the plastic injection molding machine market is segmented as Hydraulic, All-Electric and Hybrid. Hydraulic accounted for the largest share in this segment. Hydraulic injection molding machine is the most popular machine type, primarily because of its long service life and a wide range of applications. The hydraulic injection molding machine consists of a fixed-speed, three-phase motor, and a variable-volume pump. Hydraulic injection molding machines have a long life, far drive distance, and low maintenance cost. This type of machine helps in significant reduction of production cycle time. Molders mainly use high-tonnage hydraulic machines for molding large parts. This machine is mainly used for producing high precision plastic components such as automotive parts, caps & closers, consumer goods, electrical & electronics goods, and medical items.
Based on clamping force, the plastic injection molding machine market is segmented as 0-200 tons force, 201-500 tons force and Above 500 tons force. The 201–500 ton-force segment accounted for the largest market share in terms of value, in 2019 and is projected to register the highest CAGR during the forecast period. This high growth is attributed to the rising demand for medium-sized molded parts from major end-use industries such as automotive, packaging, and consumer goods. The clamping force of 201–500 ton-force is mainly used in medium-sized plastic injection molding machines. Machine types such as hydraulic, all-electric, and hybrid are available in 201–500 ton-force. These machines are mainly used for applications in the automotive, packaging, and consumer goods industries, where relatively medium-sized molded parts are required.
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Based on end-use industry, the plastic injection molding machine market has been segmented into automotive, consumer goods, packaging, healthcare, electrical & electronics and others. The demand for plastic injection molding machines in automotive end-use is the largest in this segment. Plastic injection molding machines are predominantly used in manufacturing automotive components, interior wrapping, and assembly parts, such as automotive exteriors, car lenses, interior components, under-the-hood components, and filter components. A strong shift in the use of plastics instead of iron and steel in the automotive industry is expected to drive the plastic injection molding machine market during the forecast period.
Stringent government regulations have forced automotive manufacturers to use plastics instead of other materials such as iron and steel. Rapid economic growth, improved infrastructure, and rising middle-class population in emerging economies have led to an increase in vehicle production and sales, which, in turn, increase the demand for plastic injection molding machines. The rapidly growing automotive industry in APAC is also one of the major factors driving the plastic injection molding machine market.
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