Injection Molding Machine Market Gaining Traction from Automakers for Precise Parts

As per the findings of a newly published market research report by IndustryARC, the global injection molding machine market size was around $15 billion - $17 billion in 2018, and its value is estimated to grow at a CAGR of nearly 2.8% - 3.2% during the forecast period 2019-2025. The information is revealed in a new business intelligence report from IndustryARC, titled: “Injection Molding Machine Market: By Product Type (Plastic, Rubber, Metal, Ceramic, Others), By Machine Type (Hydraulic, All-Electric, Hybrid), By End Use Industry (Automotive, Consumer Goods, Packaging, Healthcare, Electrical & Electronics and Others), By Clamping Force (0–200 Ton-Force, 201–500 Ton-Force, Above 500 Ton-Force) & Geography - Forecast (2019 - 2025).”

In the current plastic world, injection molding machine market offerings have become a prominent choice for manufacturers to obtain ideal performance of components. Injection molding is most adaptable among other molding processes to create various parts with diverse range of size and shape, and unique features. It is a best-suited solution for producing high volumes of precise parts. All-Electric, hydraulic injection molding, and hybrid injection molding machines uses thermoplastic polyesters such as polybutylene terephthalate, polyethylene terephthalate and thermosets in numerous industries such as automotive, consumer goods, packaging, healthcare, and in electrical & electronics industry.

Automotive industry holds the major share in the injection molding machine market and is projected to grow at a CAGR of 3% over the forecast period 2019-2025. Effective footprints of these machines for their quality control in producing plastic components, transparent technical parts and trim parts of the vehicle interior are impacting the growth of automotive industry end use segment. On the basis of geographical analysis provided in the IndustryARC market research report, Asia-Pacific region dominated the demand of around 36% - 37% among other regions of injection molding machine market in 2018. Engel Austria GmbH’s investment of $13 million in plant expansion of injection molding machine in China coupled with emerging automotive industry in this region is impacting APAC to retain its dominating share over the forecast period. Approximately, 90% of the machines sold for medical and electronic applications in APAC are supplied from China and South Korea.

Powder Injection Molding (PIM) Market: By Technology (Ceramic injection molding, Metal injection molding); By End-user (Automotive, Electronic components, Medical equipment, Firearms); By Raw material (Titanium alloys, Tungsten alloys, Cobalt alloys, Low alloy steels, Stainless steels, Others)& Geographic Analysis - Forecast (2018-2023)