Compression Molding Press Market: Introduction
- Compression molding press is commonly known as compression molding machine. Hydraulically operated press is used in these machines. The compression molding press is a process of modeling in which material is kept in heat mold cavity. Mold cavity is the design required to size and shape the product. Pressure is then applied with a hydraulic press for the required time. The materials take the desired shape and size due to the applied pressure. Then the finished product is allowed to cool down. The machine is available in various material types such as rubber, plastic, and glass fiber. It is widely used for rubber molding in production lines. The market is likely to see a significant increase in demand for compression molding press during the forecast period.
Key Drivers and Opportunities of the Global Compression Molding Press Market
- Rising demand for vehicles is expected to boost the demand for compression molding press. Compression molding is used by automotive industries to manufacture composite parts from metal. They are generally used to manufacture automotive parts such as scoops, hoods, and fenders, which will lead to increase in demand for compression molding press during the forecast period.
- Compression molding press is expected to witness significant growth in the medical industry. Compression molding press is used to manufacture customized shapes and sizes for products such as diaphragms for respiratory equipment, isolation bumpers for medical equipment to minimize the vibrations, lip seal for cylinder, etc. This is expected to increase the demand for compression molding press.
- Manufacturers investing in research and development are coming up with automated compression molding press machines such as conveyor belt systems, heating and cooling platens for products, etc. and expanding their product portfolios. Moreover, manufacturers are customizing the machine according to production methods. This will significantly increase the demand for compression molding press.
- Shifting trend of automobile manufacturers toward using plastics to replace steel and alloy will help to reduce overall weight and improve the fuel efficiency of the vehicles. This is providing opportunity for the market for plastic compression molding press.
Restraints of the Global Compression Molding Press Market
- Compared to injection molding, compression molding press requires more time to curve the material, which affects the overall production rate. Moreover, it is not suitable for complex designs. This will hamper the growth of the compression molding press market during the forecast period.
Asia Pacific to hold Major Share in the Global Compression Molding Press Market
- In terms of region, the global compression molding press market can be divided into North America, Europe, Asia Pacific, Middle & East Africa, and South America.
- Asia Pacific is expected to dominate the global compression molding press market during the forecast period due to rising industrialization in developing countries such as India and China. Major end-user industries such as automobile, manufacturing, and electronics are setting their manufacturing plants in these countries due to low labor costs and easy availability of raw materials.
Key Players Operating in the Global Compression Molding Press Market
Major players operating in the global compression molding press market includes:
- JRD Rubber & Plastic Technology Pvt. Ltd
- Pan Stone Precision Industries Co., Ltd.
- Ace Automation
- Savage Engineering
- French Oil Mill Machinery Co
- CHAREON TUT Co., Ltd
- Lin Cheng Technologies Co., Ltd
- Macrodyne Technologies Inc.
- Grimco Hydraulic Presses.
- Trinks Inc.
- Santec Exim Pvt. Ltd.
Global Compression Molding Press Market: Research Scope
Global Compression Molding Press Market, by Product Type
- Other (fiber glass, composite materials, etc.)
Global Compression Molding Press Market, by Capacity
- Up to 500 tons
- 500 to 2000 tons
- More than 2000 tons
Global Compression Molding Press Market, by End-user
- Medical & Pharmaceuticals
- Food and Beverages
- Other (Manufacturing, etc.)
Global Compression Molding Press Market, by Distribution Channel
Global Compression Molding Press Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
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