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The injection molding market size is estimated to grow by USD 30.65 billion accelerating at a CAGR of 4.14% between 2023 and 2027. This injection molding market report extensively covers market segmentation by Type (plastics, rubber, and others), Application (packaging, automotive and transportation, electronics, consumer goods, and others), and Geography (APAC, North America, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
Report Coverage |
Details |
Page number |
162 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.14% |
Market growth 2023-2027 |
USD 30.65 billion |
Market YoY |
Fragmented |
YoY growth 2022-2023(%) |
3.8 |
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Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The rising adoption of high-efficient injection molding machines in the packaging industry is a key driver boosting the market growth. The growing demand for sustainable solutions has led to the adoption of highly efficient injection molding technology in the packaging industry. These advanced, highly efficient injection molding machines can save around 25% more energy than conventional injection molding machines.
Plastic injection molding uses a substantial amount of energy, and energy costs typically represent one of the major cost overheads in a company's operating budget. A typical injection molding operation spends almost as much energy as it does on direct labor. As operators look to reduce costs and enhance sustainability, they are focusing on factors such as new equipment and lighting retrofits. Some of these electric injection molding machines can save energy by up to 20%-25%, which is higher than traditional injection molding machines. Therefore, the adoption of highly efficient injection molding machines in the packaging industry will have a positive impact on the growth of the global injection molding market during the forecast period.
Increasing innovations in the global packaging industry is a key trend shaping the market growth. Active packaging, modified atmosphere packaging (MAP), and intelligent packaging are likely to increase the consumption of injection-molded products during the forecast period. Active packaging contains oxygen scavengers, moisture absorbers, and carbon dioxide absorbers and offers temperature control features. It helps reduce food contamination in food and beverage products. Injection molding machines are widely used for producing cans, bottles, and closures that are used for packaging food and beverages. Innovations in bottles and cans that are used for packaging food and beverages, and medicines are likely to increase the demand for injection molding during the forecast period.
Intelligent packaging uses smart materials to detect changes in the environment through a combination of sensors, processors, and indicators. Changes in packaging are highlighted by a programmed response. In MAP, the packaging is combined with controlled gases, such as oxygen, nitrogen, and carbon dioxide, to achieve the optimal blend for packaging food products. Extensive research and product development activities in the global packaging industry are expected to propel the demand for injection molding machines in the global injection molding market during the forecast period.
Stringent regulations and policies is a key challenge hindering the market growth. The US EPA regulations in the US and the Registration, Evaluation, Authorization and Restriction of Chemicals (REACH) Regulation in the EU impose stringent regulations on the use of injection molding machines in the packaging of food and beverages and medical devices. Injection molding machines used in medical devices must comply with the quality standards and rules for these products. In the US, the Code of Federal Regulation (CFR) 21 Part 820 for medical devices provides guidelines on the use of various materials, such as injection molding machines, for the production of medical devices.
The growth of the global injection molding market may be impacted by regulations that restrict the use of injection molded parts as direct or indirect components in food packaging applications. In Europe, Regulation EU No 10/2011 provides guidelines on the safety requirements for plastic materials and articles intended to come into contact with food (in the form of packaging), as some compounds used in injection molding are hazardous to the environment and human health. Therefore, the EU implemented the regulation for plastic used, among others, in injection molding. Therefore, these stringent regulations and policies will negatively impact the growth of the global injection molding market during the forecast period.
The plastics segment will account for a major share of the market's growth during the forecast period. The plastic injection molding technique is mainly used to produce rigid plastics. Plastic injection molding accounted for the highest market share in 2022. The increasing demand for plastic injection molding machines from various applications, such as packaging, automotive, consumer goods, and electronics, is expected to foster the growth of the market during the forecast period.
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The plastics segment was valued at USD 84.72 billion in 2017 and continued to grow until 2021. Plastic injection molding is extensively used to produce bottles and containers for the food and beverage industry. Also, the pharmaceutical, chemical, and consumer goods industries widely use rigid plastics for packaging. Polypropylene, acrylonitrile butadiene styrene, and high-density polyethylene (HDPE) are some of the major raw materials used in plastic injection molding. Factors such as the low cost, compatibility, and flexibility of these materials make them suitable for packaging applications. Moreover, the increasing purchasing power of people and the rising income of the middle-class population, which results in the increased demand for consumer goods and electronics in APAC, are likely to have a positive impact on the plastics segment of the global injection molding market during the forecast period.
Based on the application, the packaging segment holds the largest market share. The demand for plastic packaging is growing globally, driven by the increasing consumption of packaged food and beverages and the rising demand for convenience food products. The healthcare industry also relies heavily on plastic packaging for the storage and transportation of medical devices and equipment. This has led to a significant increase in the demand for injection-molded packaging products. The increasing demand for plastic packaging, driven by the food and beverage and healthcare industries, is expected to drive the growth of the global injection molding market for packaging applications during the forecast period.
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APAC is estimated to contribute 45% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The injection molding machines and rubber segments are growing at a steady pace across APAC. Developing economies such as China and India are expected to emerge as major revenue contributors to the injection molding market in APAC. This is primarily because of the rapid expansion of the end-user industries, such as e-commerce, fast-moving consumer goods (FMCG), and pharmaceuticals. Countries such as China, India, and Japan have a rapidly growing e-commerce industry. Packaging is a very vital aspect of the e-commerce industry, as products are prone to damage during transportation. Injection molding machines can be used in manufacturing multi-layered packaging products, which provide enhanced protection during transit. It can be used to reduce the costs related to damage, replacements, returns, and shipping, which, in turn, will increase the demand for injection molding machines in the regional packaging industry during the forecast period.
In 2020, the outbreak of COVID-19 adversely impacted the growth of the regional injection molding market. However, the e-commerce market flourished in the region during the pandemic, which, in turn, recouped the demand for injection molding machines in the consumer goods and electronics industries. In addition, the regional pharmaceutical sector remained resilient during the COVID-19 pandemic in 2020. Therefore, significant growth in the e-commerce industry and the regional pharmaceutical sector supplemented the growth of the injection molding market in APAC in 2020. Moreover, with the resumption of end-user activities and the initiation of large-scale COVID-19 vaccination drives, the regional market completely recovered during H1 2021. Therefore, the regional injection molding market is expected to witness growth during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
All Plastics LLC: The company offers medical injection molding which is a plastic molding and manufacturing process involving liquefied plastic into a mold to create plastic products of various shapes and sizes.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 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, and Woojin Plaimm Co. Ltd.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The injection molding market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Injection Molding Market Report |
|
Report Attributes |
Details |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 45% |
Key countries |
US, China, Japan, India, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
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, and Woojin Plaimm Co. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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