2-shot Injection Molding Market
2-shot Injection Molding Market (Product - Polypropylene, Polycarbonate, Acrylonitrile Butadiene Styrene (ABS), Polystyrene, Other Plastics (Nylon and PBT), Silicones, Styrene-Butadiene Rubber (SBR), Thermoplastic Elastomers (TPE), and Other Elastomers (Natural Rubber and Nitrile Rubber); Application - Medical, Automotive, Consumer Goods, Electrical & Electronics, Industrial, and Packaging) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024
Press Release :
Global 2-shot Injection Molding Market: Snapshot
The 2-shot injection molding process uses a single injection molding machine and a single injection mold to manufacture a part with two or more polymer resins in just one cycle. The demand for 2-shot injection molding has been considerably high in the past few years as it allows production of highly precise parts with exact repeatability using a single tool. Owing to this reason, the global 2-shot injection molding market is likely to be worth US$11.5 bn by the end of 2024 as compared to US$6.6 bn by the end of 2015. Between the forecast years of 2016 and 2024, the global market is expected to expand at a CAGR of 6.5%.
Cost-effectiveness of 2-shot Injection Molding to Drive Demand
The global market is being driven by the cost-effectiveness 2-shot injection molding as it enables production of two parts in just one operation process. Thus, the advantage of a reduced cost of production is expected to drive the overall market all through 2024. The global market is also being propelled by the growing pressure from several governments across the globe to recycle plastics. The strict government regulations pertaining to the use of plastics has forced industries to reuse the materials used in manufacturing. Thus, the new rules work in tandem with 2-shot injection molding process that uses recycled plastic for making components that have the same look and property.
Automotive Industry Shows Stupendous Growth in Global Market due to Widening Applications
On the basis of application, the global 2-shot injection molding market is segment is divided into medical, automotive, consumer goods, industrial, packaging, and electrical and electronics. The automotive segment held a key share in the global market in terms of revenue in 2015, accounting for nearly 20% of the overall market. The demand for 2-shot injection molding in this segment is slated to remain high in the coming years. Several components such as air vents, keypads, lock casings, key shells, housings for electronic control units, mirror systems, interior and exterior trim, lighting, and door handles are manufactured using 2-shot injection molding processes.
The report states that the medical industry is expected to the next big application segment of 2-shot injection molding processes. This application segment is anticipated to rise at a CAGR of 7.7% in the coming years. The overall rise in the pool of geriatrics and growing medical industry are expected to drive this application segment in the coming years.
Europe to Lead Global Market; Germany Remains Key Automotive Hub
In terms of geography, the global 2-shot injection molding market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Of these, Europe held the large share in the global market, accounting for nearly 30% of it in 2015. Europe is expected to maintain its stance as the region will focus on product differentiation in the coming years to stay ahead of the competition. Germany is expected to drive the regional market by exhibiting a soaring demand for polymers that are used in 2-shot injection molding processes of the automotive industry of the country.
The key players operating in the global 2-shot injection molding market are Rogan Corporation, Bemis Manufacturing Company, Nyloncraft, Inc., Gemini Group, Inc. Biomedical Polymers Inc., Carclo Technical Plastics, Yomura Technologies, and Evco Plastics. The global market is highly fragmented with leading players holding small shares in the overall market dynamics.
Global 2-shot Injection Molding Market: Overview
2-shot injection molding is used to manufacture a single component using a single injection molding machine using two different materials. The process is used to add ergonomic and aesthetic value to molded products. Generally a soft touch polymer such as silicone or TPE is used in combination with a hard thermoplastic such as PC and PP. the use of the process is more prevalent in developed countries due to the higher initial startup costs and more challenging technical expertise needed for 2-shot molding. However, molders in countries such as China, India and Brazil are rapidly adopting this process and these countries are likely to provide lucrative opportunities to the 2-shot injection molding market during the next decade.
This report analyzes and forecasts the market for 2-shot molding at the global and regional level. The market has been forecast based on revenue (US$ Mn) from 2016 to 2024, considering 2015 as the base year. The study includes drivers and restraints of the global 2-shot injection molding market. It also covers impact of these drivers and restraints on demand for 2-shot injection molding during the forecast period. The report also highlights opportunities in the 2-shot injection molding market at the global and regional level.
The report includes detailed value chain analysis, which provides a comprehensive view of the global 2-shot injection molding market. Porter’s Five Forces model for the 2-shot injection molding market has also been included to help understand the competitive landscape in the market. The study encompasses market attractiveness analysis, wherein end-users are benchmarked based on their market size, growth rate, and general attractiveness.
Global 2-shot Injection Molding Market: Segmentation
The study provides a decisive view of the global 2-shot injection molding market by segmenting it in terms of applications such as medical, automotive, consumer goods, electrical & electronics, industrial, packaging and others. These segments have been analyzed based on present and future trends. Regional segmentation includes current and forecast demand for 2-shot injection molding in North America, Europe, Asia Pa cific, Latin America, and Middle East & Africa.
The report provides the actual market size of 2-shot injection molding for 2015 and estimated market size for 2016 with forecast for the next eight years. The global market size of 2-shot injection molding has been provided in terms of revenue and volume. Market revenue is given in US$ Mn. Market numbers have been estimated based on key applications of 2-shot injection molding. Market size and forecast for numerous applications have been provided in terms of global, regional, and country level markets.
Global 2-shot Injection Molding Market: Research Methodologies
In order to compile the research report, we conducted in-depth interviews and discussions with a number of key industry participants and opinion leaders. Primary research represented the bulk of research efforts, supplemented by extensive secondary research. We reviewed key players’ product literature, annual reports, press releases, and relevant documents for competitive analysis and market understanding. Secondary research includes a search of recent trade, technical writing, Internet sources, and statistical data from government websites, trade associations, and agencies. This has proven to be the most reliable, effective, and successful approach for obtaining precise market data, capturing industry participants’ insights, and recognizing business opportunities.
Secondary research sources that are typically referred to include, but are not limited to company websites, annual reports, financial reports, broker reports, investor presentations, SEC filings, Plastemart magazine, TPE magazine, internal and external proprietary databases, and relevant patent and regulatory databases such as ICIS, Hoover’s, OneSource, Factiva and Bloomberg, national government documents, statistical databases, trade journals, market reports, news articles, press releases, and webcasts specific to companies operating in the market.
We conduct primary interviews on an ongoing basis with industry participants and commentators to validate data and analysis. These help validate and strengthen secondary research findings. These also help develop the analysis team’s expertise and market understanding.
Key Players Mentioned in this Report are:
The report comprises profiles of major companies operating in the global 2-shot injection molding market. Key players in the 2-shot injection molding market are Rogan Corporation, Bemis Manufacturing Company, Nyloncraft, Inc., Gemini Group, Inc. Biomedical Polymers Inc., Carclo Technical Plastics, Yomura Technologies and Evco Plastics. Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, and recent developments.
The global 2-shot injection molding market has been segmented as follows: