Latest News- Injection Molding Machine Market: Plastics is expected to lead the Type segment during 2024-2028

The Injection Molding Machine Market is being driven by Rising demand for Injection molding machines from various industries

The Injection Molding Machine Market is expected to grow at a CAGR of 4.36% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 5194.4 million. The injection molding machine market has experienced significant growth due to the increasing demand for producing complex plastic and metal parts. While 3D printing offers the ability to create intricate geometries, its material limitations hinder its application for businesses requiring specific material properties. Injection molding machines, on the other hand, provide the advantage of utilizing a vast array of materials, enabling businesses to manufacture prototypes and final products that meet their unique requirements. This versatility in material selection sets injection molding apart from 3D printing, making it an indispensable manufacturing solution for various industries. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Type
  • Plastics
  • Rubber
  • Others
• End-user
  • Automotive
  • Consumer goods
  • Packaging
  • Others
• Geography
  • APAC
    • China
    • India
    • Japan
  • North America
    • US
  • Europe
    • Germany
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Rising demand for Injection molding machines from various industries
• Increasing demand for consumer electronics
• Rising awareness regarding energy saving

However, the market also witnesses some limitations, which are as follows:

• High initial and maintenance cost of injection molding machines
• High heating and hydraulic pressure
• Less economical for small production capabilities

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Market Scope in Injection Molding Machine Market Research Report

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Research Analysis Overview

The Injection Molding Machine Market encompasses various sectors, including consumer goods, healthcare, electricals & electronics, automotive, and more. Key elements driving growth are mold design, training, events, and equipment suppliers. Customization of molds for materials like plastics is crucial in plastic molding. Industries like healthcare, automotive, and electricals & electronics benefit significantly. Hydraulic machines, large-tonnage machines, hybrid machines, and rotary injection machines are popular. Simulation, certification, automation, precision, and waste management are essential processes. Cost reduction through innovation, biodegradable materials, energy efficiency, and automation software are key benefits. Engineering, materials research, high-speed production, quality control, and complex product manufacturing are ongoing trends. Smart molding machines and automated lines ensure efficiency optimization and traceability. Logistics and innovation continue to shape the market landscape.

Market Research Overview

The Injection Molding Machine Market is a significant segment of the larger Industrial Machinery and Supplies and Components Market. This market encompasses businesses producing machinery and components, specifically for injection molding applications, including ceramics, rubber, and plastics. Technavio, a leading market research firm, sizes the Industrial Machinery and Supplies and Components Market based on the combined revenue of machinery and component manufacturers. Key growth drivers include expanding industrial output in process and discrete industries, necessitating capacity expansions in sectors such as energy, chemicals and petrochemicals, pulp and paper, and processed food and beverages in developing countries. Additionally, advancements in technology, such as digital electronic controls and energy conservation, are fostering demand for electric injection molding machines with high clamping forces and short production runs. The Health Care and Pharmaceutical industries also contribute to the market's growth, as they increasingly rely on injection molding for manufacturing medical components. The Plastics Industries Organization plays a vital role in the market's development, advocating for industry standards and promoting innovation. Large-tonnage injection molding machines continue to dominate the market due to their versatility and dependability.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/