2-shot Injection Molding Market
2-shot Injection Molding Market (Product Type: Polypropylene, Polycarbonate, ABS, Polystyrene, Other Thermoplastics, Silicone, SBR, TPE, and Others; and Application: Medical, Automotive, Consumer Goods, Electrical & Electronics, Industrial, Packaging, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021-2031
- Chemicals & Materials
- 153 Pages
2-shot Injection Molding Gains Popularity for Manufacturing COVID-19 Test Kits
A second wave of the coronavirus pandemic in 2021 in India, Brazil, and Europe has compelled manufacturers in the 2-shot injection molding market to scale their production activities for test kits. The ever-evolving COVID-19 strains have bolstered the demand for multi-shot components used in several medical supplies.
Companies in the 2-shot injection molding market are going the extra mile to sharpen their mold-making and automation skills to meet the unprecedented demand from healthcare, consumer goods, and packaging applications. Plastic manufacturing has reached its peak during the pandemic due to a constant demand for personal protective equipment (PPE) and even small items such as valves used in hospital ventilators. Emerging companies need to invest in robust machinery to meet breakneck pace of future COVID-19-like situations, while undertaking the challenge of running complex manufacturing operations.
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Thorough Knowledge of Injection Molding Machines Augment Production Capabilities
The 2-shot injection molding market is expected to exceed the valuation of US$ 14.9 Bn by 2031. However, issues such as improper selection of injection molding machine, insufficient supply of materials, and poor flow factor of raw materials hamper the output. Hence, manufacturers are working with designers that have obtained thorough knowledge of technical capabilities of injection molding machines and other production activities to avoid defects in final products.
Manufacturers are increasing their production capabilities in two-color injection molding, owing to the growing demand for aesthetically beautiful products. The innovative injection molding technology is not only being used to improve the precision of processes but also expand its application.
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Certified Facilities, Molding Experts Help Achieve Design Flexibility
There is a growing demand for high quality 2-shot injection molded products at a low cost. HiTech Plastics & Molds - a company dedicated for custom thermoplastic injection molding, is gaining recognition for delivering increase design flexibility, better control over quality, and accelerated production speeds. Manufacturers in the 2-shot injection molding market are collaborating with engineers in their company to use the CAD (Computer Aided Design) technology to offer custom-made designs in end products and identify any issues that could impact molding success.
Companies in the 2-shot injection molding market are boosting their credibility by publicizing their certified facilities equipped with a varied range of press sizes, along with a large network of molding experts.
Engineering Teams Deploy Endless Possibilities in Consumer Goods with Reduced Waste
Endless possibilities in consumer goods products are creating stable and long-term revenue streams for manufacturers in a potentially fragmented landscape such as the 2-shot injection molding market. C&J Industries - a full-service plastic injection molding contract manufacturer, is gaining proficiency in the production of plastic caps & closures, containers, and dispensing lids that meet demanding needs of end customers. Manufacturers are increasing efforts to acquire proficiency in intricate custom molds and complex manufacturing processes for consumer goods products.
Manufacturers in the 2-shot injection molding market are hiring business development engineers who determine whether a client’s pre-existing design is moldable or not. These engineering teams help to collaborate with clients to design consumer goods with fewer processes and deliver a viable model to reduce waste during the processes.
Chinese Manufacturers Expanding Ergonomically Sound Product Portfolio in Consumer Goods
Chinese manufacturers stand among world market leaders for 2-shot injection molding. Kemal - a specialist in plastic injection mold manufacturing, is expanding its product portfolio in consumer goods such as handles, mobile shells, smart watch sheels, and shaver cases to expand their income sources. Companies in the China 2-shot injection molding market are increasing the availability of highly structured and durable consumer goods, whilst maintaining accuracy and aesthetic appearance in products.
Handle 2K injection molding and cove shell 2K injection molding applications are growing popular. Manufacturers in the 2-shot injection molding market are using these techniques to produce ergonomically sound consumer products.
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Given the importance of the delicate nature of medical devices, the need for precision and care during their production has been heightened during the COVID-19 outbreak to ensure timely supply of test kits and other supplies. The 2-shot injection molding market is projected to clock a modest CAGR of ~5% during the forecast period. However, restraints such as improper use of release agents, poor welding techniques, and sometimes overdose in the use of lubricants are causing defects in products. Hence, companies should invest in innovative injection equipment and processes that sufficiently meet specifications of increasingly diverse, high quality, and value-added products.
2-shot Injection Molding Market: Overview
- Manufacturers of plastic products have expanded their production capabilities due to the decrease in prices of crude oil, which is the primary source of raw material for plastics. Several manufacturers of plastic products have invested significantly in the expansion of their production facilities in the past few years. Investment in development of polymer materials has increased due to the decline in prices of raw materials as well as increase in global consumption. These factors are expected to propel the 2-shot injection molding market during the forecast period.
- According to Transparency Market Research’s latest research report on the global 2-shot injection molding market for the actual year 2020 and the forecast period 2021 to 2031, rise in usage of 2-shot injection molding in plastic manufacturing is a key factor that is anticipated to boost the global 2-shot injection molding market during the forecast period
- In terms of revenue, the global 2-shot injection molding market is expected to cross US$ 14.9 Bn by 2031, expanding at a CAGR of ~5% during the forecast period
Rise in Consumption of Plastic Products: Key Driver of 2-shot Injection Molding Market
- Usage of 2-shot injection enables designers to design product parts with a range of value-added features. Generally, in 2-shot injection molding, soft-touch materials are molded in combination with strong substrates to improve the product design ergonomically and esthetically. The bonds between the two materials are strong, and the product part has high surface quality. Plastic products can be molded in various color combinations. This increases the value of products.
- 2-shot injection molding enables production of highly precise parts with high level of repeatability using a single tool. The added functionality imparted to product parts through 2-shot injection molding is likely to induce OEMs to design more products that would need to be manufactured through 2-shot injection molding. This, in turn, is estimated to drive the global 2-shot injection molding market.
- Two component parts are manufactured in a single operation in 2-shot injection molding. This eliminates or reduces the need for expensive secondary joining or assembly. Furthermore, the rate of rejection of components manufactured by 2-shot injection molding is low, as chances of misalignment between two components, as seen in traditional inserts or over molding processes, are less. This increases the cost competitiveness of 2-shot injection moldings.
Polypropylene Dominates 2-shot Injection Molding Market
- Based on product type, the global 2-shot injection molding market has been segmented into polypropylene, polycarbonate, ABS, polystyrene, other thermoplastics, silicone, SBR, TPE, and others
- The polypropylene segment held a major share of the global 2-shot injection molding market in 2020
- TPE is also a key segment of the global 2-shot injection molding market. TPE is widely used in 2-shot injection molding due to its properties such as good shock absorption, flexibility, soft texture, and easy processability. The TPE segment is expected to expand at a CAGR of 5.1% during the forecast period.
- Silicone is a highly attractive segment of the global 2-shot injection molding market, owing to excellent thermomechanical properties and easy processability of silicone. Silicone is prominently used in industries such as medical, automotive, consumer goods, and electrical & electronics.
- Other highly lucrative segments of the 2-shot injection molding market include other thermoplastics and ABS
Medical to be Key Application Area
- In terms of application, the global 2-shot injection molding market has been classified into medical, automotive, consumer goods, electrical & electronics, industrial, packaging, and others
- The medical segment accounted for a prominent value share of the global 2-shot injection molding market in 2020. Its share is estimated to increase by 2.7% by 2031, due to rapid growth of the medical industry and rise in usage of 2-shot injection molding in the manufacture of medical devices. The industrial segment’s share is likely to decrease by 1.5% by 2031.
- Growth in medical and automobile applications of 2-shot injection molding products is projected to drive the global 2-shot injection molding market in the near future
2-shot Injection Molding Market: Competition Landscape
- Detailed profiles of providers of 2-shot injection molding have been included in the report to evaluate their financials, key product offerings, recent developments, and strategies
- Key players operating in the global 2-shot injection molding market are
- Gemini Group, Inc
- Rogan Corporation
- Nyloncraft, Inc.
- Paragon Rapid Technologies Ltd
- Season Group International Co., Ltd.
- Girard Rubber Corporation
- CM International Industries Corporation
- SIMTEC Silicone Parts
- Midstate Mold & Engineering
- Carclo Technical Plastics
- Yomura Technologies
- EVCO Plastics
- CMG Plastics
2-shot Injection Molding Market: Key Developments
- Major providers of 2-shot injection molding are focusing on research & development, merger, joint venture, collaboration, and product innovation strategies
- In the global 2-shot injection molding market report, we have discussed individual strategies, followed by company profiles of providers of 2-shot injection molding. The ‘Competition Landscape’ section has been included in the report to provide readers with a dashboard view and company market share analysis of key players operating in the global 2-shot injection molding market.
2-shot Injection Molding Market – Scope of the Report
The latest study collated and published by Transparency Market Research (TMR) analyzes the historical and present-day scenario of the global 2-shot injection molding market in order to accurately gauge its future growth. The study presents detailed information about important growth factors, restraints, and trends that are creating a landscape for the growth of the global 2-shot injection molding market so as to identify growth opportunities for market stakeholders. The report also provides insightful information about how the global 2-shot injection molding market would expand during the forecast period of 2021 to 2031.
The report offers intricate dynamics about different aspects of the global 2-shot injection molding market, which aids companies operating in the market in making strategic development decisions. TMR’s study also elaborates on significant changes that are highly anticipated to configure growth of the global 2-shot injection molding market during the forecast period. It also includes a key indicator assessment that highlights growth prospects of the global 2-shot injection molding market and estimates statistics related to growth of the market in terms of volume (kilo tons) and value (US$ Mn).
This study covers a detailed segmentation of the global 2-shot injection molding market, along with key information and competition outlook. The report mentions company profiles of players that are currently dominating the global 2-shot injection molding market, wherein various development, expansion, and winning strategies practiced and implemented by leading players have been presented in detail.
Key Questions Answered in TMR’s Report on 2-shot Injection Molding Market
The report provides detailed information about the global 2-shot injection molding market on the basis of a comprehensive research on various factors that are playing a key role in accelerating the growth potential of the global market. Information mentioned in the report answers path-breaking questions for companies that are currently operating in the market and are looking for innovative methods to create a unique benchmark in the global 2-shot injection molding market, so as to help them design successful strategies and make target-driven decisions.
- Which product type segment of the global 2-shot injection molding market would emerge as major revenue generator during the forecast period?
- How are key market players successfully earning revenue out of advantages of 2-shot injection molding?
- What would be the Y-o-Y growth trend of the global 2-shot injection molding market between 2021 and 2031?
- What are the winning imperatives of leading players operating in the global 2-shot injection molding market?
- Which application segment is expected to create lucrative opportunities for the global 2-shot injection molding market during the forecast period?
- Which are the leading companies operating in the global 2-shot injection molding market?
Research Methodology – 2-shot Injection Molding Market
The research methodology adopted by analysts for compiling the global 2-shot injection molding market report is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information that is obtained and legitimated by market-admissible sources, analysts have offered riveting observations and authentic forecasts for the global 2-shot injection molding market.
During the primary research phase, analysts interviewed market stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through interviews of genuine sources, analysts have emphasized the changing scenario of the global 2-shot injection molding market.
For secondary research, analysts scrutinized numerous annual report publications, white papers, market association publications, and company websites to obtain the necessary understanding of the global 2-shot injection molding market.
2-shot Injection Molding Market – Segmentation
TMR’s research study assesses the global 2-shot injection molding market in terms of product type, application, and region. This report presents extensive market dynamics and trends associated with different segments of the market and how they are influencing growth prospects of the global 2-shot injection molding market.