Hot runner systems are feed systems which help molten plastic to flow from the machine nozzle to the cavity. Hot runner systems help in reducing plastic waste during injection molding. The systems consist of nozzle, manifolds, flow controls, connections, and hot valves.
The size of the hot runner channel depends on injection speed, type of resin, fill rate, and molded part. Depending on the plastic part to be manufactured, the molds may vary from having 1 to 150 nozzles.
The hot runner system finds application in various industries due to its capability of producing highly complex parts in various sizes. The hot runner market is expected to witness substantial growth during the forecast period.
Key Drivers and Restraints of the Global Hot Runner Market
Hot runners consist of an assembly of heated components. The rise in use of high quality injection molded plastic products in end-use industries along with benefits such as energy saving and increase in efficiency & productivity is expected to drive the hot runner market during the forecast period.
Hot runner systems offer reduced cycle time, and brings down material, labor, and energy costs. It improves the quality of parts and provides flexibility in molding automation. The valve gate hot runner is expected to dominate the market because of its perfect finishing on the injection point, less shearing of plastic material, lower pressure, and better injection flow.
Technical advancements and standardization in the components are likely to provide several growth opportunities during the forecast period. Technological advancement in hot runner systems such as the manufacturing of electric valve gate hot runners which ensure efficiency, responsiveness, precision, and repeatability are set to help drive the hot runner market and open doors for new opportunities.
Stable economic growth and favorable government regulations related to developments in the industrial sector are projected to encourage more players to enter the hot runner market. Global manufacturers are expanding their base in economies such as India and China to increase their market presence.
Advancement in analysis tools and developments in modular design are factors driving the growth of the global hot runner market. Considering all these factors, the global hot runner market is projected to witness substantial growth during the forecast period.
Asia Pacific to Lead the Global Hot Runner Market
Geographically, the global hot runner market can be divided into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and Latin America
The market in Asia Pacific is anticipated to grow at a rapid pace during the forecast period. Developed regions demand quality hot runner systems while developing regions being price sensitive, demand low priced systems for various applications.
Manufacturers provide various variants of hot runners to suit all requirements. Sectors such as automotive, logistics, packaging, manufacturing, and healthcare demand various types of hot runners. The automotive industry is expected to garner major share in the hot runner market during the forecast period.
The global hot runner market is competitive due to the presence of large number of global and regional players. Major players adopt various strategies such as product portfolio expansion to enhance their position in the market. Companies in emerging markets focus on expanding their customer base.
Key Manufacturers Operating in the Global Hot Runner Market
Leading players operating in the global hot runner market include:
