Authored By: Sarah
02 Jul 2024

 Injection Molding Market Size to grow by USD 30.65 billion between 2023-2027

According to a research report “ Injection Molding Market” by Type (Plastics, Rubber, Others) Application (Packaging, Automotive and transportation, Electronics, Consumer goods, Others) Geography (APAC, North America, Europe, South America, Middle East and Africa)- Global Forecast to 2027 published by Technavio, the market size is estimated to grow by USD 30.65 billion, at a CAGR of  4.14% during the forecast period. In the packaging industry, there is a rising trend towards the implementation of sustainable solutions, driving the adoption of advanced injection molding technology. These modern, energy-efficient injection molding machines can save approximately 25% more energy compared to traditional machines. With energy costs being a significant expense in a company's operating budget, representing nearly equal expenditure as direct labor in a typical injection molding operation, businesses are increasingly focusing on energy reduction strategies. These strategies include investing in new energy-efficient equipment and implementing lighting retrofits to minimize energy consumption and enhance sustainability.

Browse market data tables, figures, and in-depth TOC on “Injection Molding Market” by Type (Plastics, Rubber, Others) Application (Packaging, Automotive and transportation, Electronics, Consumer goods, Others) Geography (APAC, North America, Europe, South America, Middle East and Africa) Global Forecast to 2027. Download Free Sample

 

By Type, the Plastics segment is projected to dominate the market size in 2024

Injection molding is a manufacturing process that delivers intricate shapes and designs with exceptional precision and repeatability. This technique holds significant value in the production of packaging products due to its advantages, including increased precision, expedited production times, and decreased material waste. The implementation of injection molding in packaging has led to heightened efficiency, cost reduction, and enhanced product quality. The global demand for plastic packaging continues to escalate, fueled by the burgeoning consumption of packaged food and beverages and the growing preference for convenience food items. Moreover, the healthcare sector heavily utilizes plastic packaging for the safe storage and transportation of medical devices and equipment.

By Application, Packaging  segment is expected to hold the largest market size for the year 2024

The plastic injection molding market experienced significant growth in 2022, accounting for the largest market share, driven by its widespread application in various industries. Notably, this technique is primarily utilized for producing rigid plastics, which are in high demand for applications such as packaging, automotive, consumer goods, and electronics. In the packaging sector, plastic injection molding is extensively used to manufacture bottles and containers for the food and beverage industry, as well as for pharmaceuticals, chemicals, and consumer goods. Key raw materials used in this process include polypropylene, acrylonitrile butadiene styrene, and high-density polyethylene (HDPE), which are essential for meeting the diverse requirements of these industries. The increasing demand for injection molding machines is expected to further fuel market expansion during the forecast period.

APAC is forecasted to hold the largest market size by region in 2024

The injection molding market in APAC is experiencing significant growth, with key contributors being the injection molding machines and rubber segments. Developing economies, particularly China and India, are projected to generate substantial revenue due to the expansion of end-user industries, including e-commerce, FMCG, and pharmaceuticals. Notably, China, India, and Japan exhibit a burgeoning e-commerce sector, necessitating robust packaging solutions. Injection molding technology is essential for producing multi-layered packaging, offering superior protection during transportation. Thus, the injection molding market's growth trajectory in APAC is driven by the dynamic end-user industries and their increasing demand for advanced packaging solutions.

The Injection Molding Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • All Plastics LLC
  • Biomerics LLC
  • BORCHE NORTH AMERICA INC.
  • C and J Industries Inc.
  • Currier Plastics Inc.
  • D and M Plastics LLC
  • ENGEL AUSTRIA GmbH
  • EVCO Plastics
  • Formplast GmbH
  • Hehnke GmbH and Co KG
  • H and K Muller GmbH and Co. KG
  • HTI Plastics
  • Husky Technologies
  • Majors Plastics Inc.
  • Mold Hotrunner Solutions Inc.
  • Proto Labs Inc.
  • The Rodon Group
  • Tessy Plastics Corp.
  • TR Electronic
  • Woojin Plaimm Co. Ltd.
.

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Research Analysis Overview

The injection molding market is witnessing significant growth due to the increasing demand for injection molded plastics from various industries. Thermoplastic polymers, including low density polyethylene, high-density polyethylene, polyvinyl chloride, and polycarbonate, are commonly used in injection molding processes. In contrast, thermosetting polymers are not suitable for this process. The medical applications segment is a major consumer of injection molded plastics due to the production of medical devices and disposable medical equipment. Packaging applications, particularly in the food and beverage industry, also contribute significantly to the market growth. The use of bioplastics is increasing in packaging due to the growing demand for sustainable packaging solutions. The metal material segment is expected to witness steady growth due to the increasing trend of replacing metal parts with injection molded plastics in various industries. OEMs in the automotive, electrical and electronics, and healthcare sectors are major consumers of injection molded plastics. The COVID-19 pandemic has led to an increase in demand for packaging, particularly in organized retail, e-commerce, and rural areas. The packaging industry is adopting advanced packaging technology to cater to the changing consumer preferences, including the use of rigid plastic cups and sustainable packaging solutions. The injection molding market is expected to continue its growth trajectory, driven by these trends and the increasing demand for injection molded plastics in various industries. However, the market growth may be impacted by the ongoing Omicron strain and the resulting supply chain disruptions. The healthcare sector, which is a major consumer of injection molded plastics, is expected to be particularly affected by any disruptions in the supply chain.

Market Research Overview

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