Latest News- Dies And Molds Market in Thailand: Casting is expected to lead the Application segment during 2025-2029

The Dies And Molds Market in Thailand is being driven by Expanding manufacturing sector in Thailand

The Dies And Molds Market in Thailand is expected to grow at a CAGR of 10% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 655.1 million. The dies and molds industry in Thailand has experienced significant advancements due to the integration of simulation technology into the casting process. Previously, casting process optimization relied heavily on trial and error, resulting in lengthy and costly production cycles. By utilizing simulation technology, manufacturers can now evaluate various casting scenarios prior to production, enhancing efficiency and reducing expenses. Simulation technology's application extends from the design stage to tooling and production. During the design phase, it enables the identification of potential defects and optimization of cast geometry to improve quality. Visualizing molten metal flow and predicting potential issues empowers designers to make necessary modifications, thereby minimizing flaws and enhancing overall product quality. Incorporating simulation technology into the casting process has led to substantial improvements in the dies and molds industry, making it a valuable investment for manufacturers in Thailand. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • Casting
  • Forging
  • Injection molding
• End-user
  • Automotive
  • Construction
  • Electronics
  • Machine tool
  • Others
• Material
  • Steel
  • Aluminum
  • Others
• Geography
  • Thailand

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

• Expanding manufacturing sector in Thailand
• Increasing government support for developing dies and molds market in Thailand
• Rising demand for custom-designed products

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

• Significant energy consumption associated with dies and mold technology
• Environmental concerns associated with dies and molds
• Cost pressures within dies and molds market in Thailand

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Market Scope in Dies And Molds Market in Thailand Research Report

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Research Analysis Overview

The Dies and Molds Market in Thailand encompasses various components including Mold Bases, Cavity Inserts, Core Pins, Ejector Pins, Sprue Bushings, Gate Systems, Cooling Channels, Mold Temperature Control, Hot Runners, Multi-Cavity Molds, Family Molds, Stack Molds, Progressive Dies, Transfer Dies, Blanking Dies, Punching Dies, Bending Dies, and various machining techniques such as EDM Machining, Wire EDM, Laser Cutting, Waterjet Cutting, Precision Grinding, Shot Blasting, Powder Coating, and application of Mold Release Agents. Materials used include Tool Steel, High-Speed Steel, Stainless Steel, Aluminum Alloys, Titanium Alloys, and Composite Materials. Computer-Aided Engineering (CAE) is also utilized in the design and production process.

Market Research Overview

The Dies and Molds market in Thailand is a significant segment of the larger global Industrial Machinery and Supplies and Components market. This market encompasses companies specializing in Injection Molding, Die Casting, Plastic Molding, Metal Forming, Mold Design, and Die Design. The size of the global Industrial Machinery and Supplies and Components market is determined by Technavio through the consolidated revenue of machinery and component manufacturers catering to industrial applications. Key growth drivers for this market include expanding industrial production in process and discrete industries due to the increasing demand for energy, chemicals and petrochemicals, pulp and paper products, and processed food and beverages in developing economies.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
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