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The injection molding market size is estimated to grow by USD 33.6 billion at a CAGR of 4.36% between 2023 and 2028. The market's growth is influenced by several key factors. Increasing innovations in the global packaging industry are driving demand for more efficient and versatile packaging solutions. The rise in popularity of automation in molding techniques enhances production efficiency and consistency, making these processes more attractive to manufacturers. Additionally, new developments in injection molding technology are improving the quality and precision of molded products, further fueling market expansion. These factors collectively highlight the dynamic advancements in packaging and molding technologies, contributing to the market's robust growth.
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Our analysis of the adoption life cycle of the market indicates its movement between the innovator’s stage and the laggard’s stage. The report illustrates the lifecycle of the market, focusing on the adoption rates of the major countries. Technavio has included key purchase criteria, adoption rates, adoption lifecycles, and drivers of price sensitivity to help companies evaluate and develop growth strategies from 2023 to 2028.
Market Customer Landscape
The market serves diverse industries such as healthcare, electrical and electronics, and packaging technology. With a focus on sustainable packaging, it meets the needs of both urban and rural areas. The rise of organized retail has increased demand for rigid plastic products like cups. Amidst concerns about the Omicron strain, Original Equipment Manufacturers (OEMs) are turning to injection molded plastics for various applications, including medical ones. This process involves melting material, which is then injected into a mold to produce the final part or product. Different materials like thermosetting polymers and thermoplastic polymers are used, including polycarbonate, polyvinyl chloride, and low-density polyethylene. The market is also witnessing a shift towards bioplastics, aligning with the growing focus on sustainability. Our researchers studied the data for years, with 2023 as the base year and 2024 as the estimated year, and presented the key drivers, trends, and challenges for the market.
One of the key factors driving the growth of the market is the rising adoption of highly efficient injection molding machines in the packaging industry. The growing demand for sustainable solutions has led to the adoption of highly efficient injection molding machines in the packaging industry. Plastic injection molding machines require an extensive amount of energy, and energy costs typically represent one of the major line items in a company's operating budget. A typical injection molding operation spends almost as much on energy expenditures as it does on direct labor.
As operators look to reduce costs and enhance sustainability, they focus on factors such as new equipment and lighting retrofits. Some of these electric machines can save energy 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 positively impact the growth of the market during the forecast period.
The new development in injection molding technology is a key trend that is expected to have a positive impact in the coming years. The introduction of new technologies for the production of injection molding machines and rubber is expected to gain traction in the next few years. Technologies such as methanol-to-olefins (MTO) and coal-to-olefins (CTO), which are used to produce polyethylene, will positively impact the market during the forecast period. The above-mentioned technologies are already adopted in China and are more cost-effective than the production of polyethylene from naphtha.
In China, the development of polyethylene capacities with the help of CTO technology is expected to become mainstream during the forecast period. Therefore, such developments in injection molding machines will create new growth opportunities for the market during the projected timeframe. Such factors will increase the market growth during the forecast period.
The volatility of raw material prices will be a major challenge impeding the market during the forecast period. Ethylene, propylene, benzene, and styrene are some of the major raw materials used to produce injection molding. The price of raw materials, such as polymers and resins, has been fluctuating since 2015. Moreover, propylene, benzene, and styrene polymers are derivatives of petroleum and natural gas. Therefore, the prices of these products vary in tandem with the prices of natural gas and crude oil.
Frequent fluctuations in crude oil prices have a significant impact on the price of raw materials such as polyethylene and propylene. As per the US Energy Information Administration (EIA), the price of Brent crude oil declined by 34.4% in 2020 over that in 2019. However, the price of Brent crude oil increased by more than 60% in 2021. Thus, such fluctuations will negatively impact the market 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.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market players, including:
Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies vendors into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Vendors are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
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 2023. 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 87.40 billion in 2018. 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 market during the forecast period.
Based on application, the market has been segmented into packaging, automotive and transportation, electronics, consumer goods, and others. The packaging segment will account for the largest share of this segment. Injection molding allows complex shapes and designs to be manufactured with high precision and repeatability. The use of injection molding in manufacturing packaged products has several advantages, such as higher precision, shorter production times, and less material waste. The use of injection molding for packaging has increased efficiency, reduced costs, and improved product quality. Demand for plastic packaging is increasing globally, driven by increased consumption of packaged food and beverages and increased demand for convenience food products.
APAC is estimated to contribute 49% to the growth by 2028. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period.
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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 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.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
India - Dies and Molds Market by Application and End-user - Forecast and Analysis
Injection Molded Plastics Market Analysis APAC, North America, Europe, South America, Middle East and Africa - China, Japan, US, Germany, UK - Size and Forecast
Robotic Injection Molding Machine Market Analysis North America, Europe, EMEA, APAC : US, Canada, China, Germany, UK - Size and Forecast
The market is driven by various factors such as acceleration performance, injection times, and noise levels of machines. It caters to a wide range of industries including drug-delivery systems, Medical applications, respiratory care, and diabetes management, producing items like blood glucose test strips, low density polyethylene and lightweight medical devices. The market is witnessing a shift towards more cost-effective and durable medical products, especially disposable ones. The use of servo motors, gears, racks, and ball screws in injection molding machines enhances their energy efficiency, benefiting industries like the automobile sector for producing vehicle components and interior wraps. Materials used range from thermoplastic to thermosetting ones, including nylon, polystyrene, and unsaturated polyesters, sourced from high-grade raw materials. This technology also plays a significant role in smart building technologies in the construction industry, improving energy efficiency and cost-effectiveness in housing construction and public infrastructure development, especially in developing countries.
Market Scope |
|
Report Coverage |
Details |
Page number |
171 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.36% |
Market growth 2024-2028 |
USD 33.6 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.1 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 49% |
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, H and K Muller GmbH and Co. KG, Hehnke GmbH and Co KG, HTI Plastics, Husky Technologies, Majors Plastics Inc., Mold Hotrunner Solutions Inc., Proto Labs Inc., Tessy Plastics Corp., The Rodon Group, TR Electronic, and Woojin Plaimm Co. Ltd. |
Market dynamics |
Parent market analysis, Market forecasting , market forecast , Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, 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 Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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