Hot Runner Temperature Controller Market
Hot Runner Temperature Controller Market (Control Zone: Up to 12 Zones, 12-48 Zones, 48-72 Zones, 72-108 Zones, 108-144 Zones, 144-180 Zones, 180-216 Zones, and Above 216 Zones; Temperature: Below 100c, 100-200c, 200-300c, 300-400c, and Above 400C; End-use Industry: Aerospace, Automotive, Healthcare, Packaging, Consumer Goods, and Others; Pricing: Low, Medium, and High; and Distribution Channel: Direct Sales and Indirect Sales) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021-2031
Press Release :
HRTC Improved Production Quality, Decreased Completion Time
A hot runner system is a combination of heated components that are injected into the cavities of mold through plastic injected molds. A hot runner system can efficiently deliver liquid plastic to several mold cavities to create a plastic product. The heated plastic moves from the molding machine nozzle through internal channels called runners, and can be transferred directly into multiple cavities at the same time. The hot runner systems are increasing in popularity, as it never lets the plastic to solidify in the runners. This reduces the cycle time supporting faster processing. Another advantage of this system is a decrease in plastic waste, as the material does not harden until the mold is loaded. The lack of a sprue system considerably cuts down on the quantity of trimming needed to smooth the final product. Hot runners work through an added manifold, which is bolted to the mold assembly. These features are contributing to the upcoming growth in the demand for the hot runner temperature controller market.
Using hot runner temperature controllers (HRTC) usually make the mold more expensive to produce. However, it also helps to save by dropping the plastic waste and decreasing the cycle time. The hot runner controllers can efficiently perform the functions of fully integrated controllers at a reasonable price. The operation of hot runner controllers is user-friendly with high reliability and accurate temperature control. Moreover, the hot runner controllers allow stable temperature control for hot sprue bushings, machine nozzles, runners/spineless injection molds, and other applications with a requirement of the thermocouple to analyze the temperature. Furthermore, manufacturers are increasingly investing in R&D activities to innovate and expand their portfolio of hot runner temperature controllers. The worldwide hot runner temperature controller market has previously witnessed a rising demand from automotive and healthcare sectors.
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Markets Heavy Reliance on Manufacturing Industries Faced Difficulties Amid Pandemic
The COVID-19 pandemic has resulted in a slowdown in various economic activities across the world. Almost all the industries came to a halt due to strict guidelines to contain the spread of coronavirus. The manufacturing sector faced closure and suspension of several projects due to inadequate workforce, insufficient raw materials, and restricted trade activities globally. Various businesses were shut due to heavy losses and dependence on the supply chain. However, many leading and developing companies made adjustments and business strategies to overcome the economic effects of the pandemic. Many major organizations were found collaborating with local industries to fulfill the incomplete projects. Moreover, several brands in multiple sectors are heavily dependent on projects outsourced in South Asian countries. Very strict restrictions for production and trade in this region due to the heavy spread of coronavirus have affected the production rate impacting the businesses and their finances. Thus, the global hot runner temperature controller market witnessed a massive hindrance in growth amid the pandemic.
Mass inoculation projects are expected to revive the growth of the global hot runner temperature controller market. Stakeholders are proportionately reliant on fully operational production plants in Asia Pacific countries. Due to the unpredictability of events, businesses are adopting contingency planning to predict possible outcomes, owing to delay in the recovery of the market and global economy. As such, businesses in the value chain are being pressured to meet emission targets, especially for high-energy consumption applications. With pandemic nearing its end in various nations, rapid vaccination drives, extending limitations the markets are expected to restore to normal very shortly. With various players planning their post-COVID-19 practices, the market is projected to overcome the present restraints in the near future.
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Automobile Industry Most Likely to Dominate End-use Segment
A hot runner system is designed to be user-friendly and can operate in any given arrangement without a dedicated temperature controller. However, better quality products are designed to last long with enhanced features. Some major leading products are expanding their product portfolios to expand the hot runner temperature controller market. Systems with constant temperature in the molds can help to ensure that the plastic is held at the ideal temperature during the injection molding process. Besides, when components are heated gradually, the system can produce more even heat distribution. This is crucial for creating the best quality product. Hot runner systems with temperature controllers can work with minimum operator interference. Moreover, they can be kept within the most productive temperature ranges. This interprets more mold uptime and productivity.
The market is witnessing an increased demand for plastic components in the production of flexible packaging, pipes, insulation, and coatings, and medical devices. The automotive sector has been growing at a constant rate with replacing metals with plastic, resulting in decreased car weight. The automotive segment is projected to dominate the end-use segment due to the increasing demand for lightweight vehicles. The automobile industry is expected to witness a surge in demand in the upcoming years, which is most likely to influence the global hot runner temperature controller market during the forecast period.
The hot runner temperature controllers are trending due to their decreased defection in products, meaning less scrap. In addition, controllers are proven to use plastics most efficiently. The constant temperatures ensure that wear is carefully managed. There is also a reduced likelihood of clogging. All these factors are contributing toward increasing demand for the hot runner temperature controller market during the forecast period.
Increased Efficiency in Energy, Time, Reliability Boosts Market Demand
The expanding usage of high-quality injection-molded plastic products in end-use applications is the principal factor driving the hot runner controller market. The growing adoption of a hot runner controller due to various advantages, such as energy saving, efficiency, and productivity, thus driving the hot runner controller market. Steady economic growth and promising government regulations related to advancements in the industrial sector are positively influencing the growth of the hot runner controller market. Furthermore, technical advancements and uniformity in components, analysis tools, and modular design advancements are likely to create lucrative growth opportunities for key players of the hot runner controller market in the upcoming years. The hot runner temperature controller market is expected to exceed the value of US$ 1 Bn by 2031, at a CAGR of 8% during the forecast period.
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The hot runner temperature controller market is expected to expand rapidly in the Asia Pacific region. This can be ascribed to increasing manufacturing projects for consumer goods and electronics. Moreover, developing countries in APAC are likely to increase the production rate once the pandemic ends. Growing industrialization and rapid urbanization are projected to boost the global hot runner temperature controller market during the projected period. Moreover, increasing demand for plastics in the healthcare sector to produce a wide range of medical instruments is also expected to propel the hot runner temperature controller market during the forecast period.
Hot Runner Temperature Controller Market: Overview
- According to Transparency Market Research’s latest research report on the global hot runner temperature controller market for the historical period of 2017, 2018, and 2019, and the forecast period of 2021–2031, increasing spending on research and development are expected to accelerate the hot runner temperature controller market across the globe
- Hot runner temperature controllers help in reducing plastic waste and manufactures plastic, which are environment-friendly and can be disposed of properly. Furthermore, the molding of plastic through hot runner controllers and changing raw plastic into usable forms has generated immense opportunities for the hot runner temperature controller market. All these factors are expected to fuel the demand for hot runner temperature controllers across the world during the forecast period.
- In terms of revenue, the global hot runner temperature controller market is estimated to exceed value of US$ 1 Bn by 2031, expanding at a CAGR of 8% during the forecast period. A hot runner temperature controller finds application in a wide range of industries such as healthcare, automotive, consumer goods, and many more. Thus, the demand for hot runner temperature controllers is expected to increase across the world.
Hot Runner Temperature Controller Manufacturers Working on Technological Innovation, Developments to Improve Overall Share of Global, Regional Market
- Major companies opt for technologically advanced and convenient products. Manufacturers are undertaking upgrades that emphasize on improved touch-screen controls, more compact designs, and the ability to handle more temperature zones. This is expected to drive the overall growth of the hot runner temperature controller market.
- Transformation of raw plastic into useful forms using hot runner controllers has created huge prospects for the hot runner temperature controller market. The rising need for molded plastic in the automotive, home appliance, electrical, and electronics sectors has resulted in an increase in demand for hot runner temperature controller systems during the world, and the market is expected to rise at a stable rate throughout the projected period.
- Plastic components are becoming more popular in the manufacturing of flexible packaging, pipes, insulation and coatings, and medical devices, as it is great versatility, which is driving the demand for hot runner controlling devices globally
- Changing lifestyles due to rise in disposable income is expected to accelerate the demand for hot runner temperature controllers across the world during the forecast period
- The hot runner mode of operation and maintenance is complicated. Thus, companies have to face high initial investment cost for proper maintenance and operation, which is likely to hamper the hot runner temperature controller market during the forecast period.
- In the healthcare sector, plastics are used to manufacture a wide range of medical instruments. This is leading to increased demand for hot runner systems and hence, creating lucrative opportunities for the hot runner temperature controller market.
Increasing Demand from Asia Pacific
- The hot runner temperature controller market in Asia Pacific is expected to expand at a rapid CAGR, as it is a manufacturing hub for consumer goods and electronics
- Furthermore, hot runner temperature controllers find wide upstream and downstream links to various industries and sectors. Developing countries looking for rapid growth of their economies through industrialization frequently consider the automobile industry as a strategic sector to be supported. Hot runner temperature controllers are widely used in multiple industries and mostly in the automobile industry.
- Manufacturers are expanding their product lines to meet the increasing demand for hot runner temperature controllers. Moreover, strong product innovation among manufacturers with newer features in hot runner temperature controllers is expected to boost the market during the forecast period.
Hot Runner Temperature Controller Market: Competition Landscape
- Detailed profiles of providers of hot runner temperature controllers have been provided in the report to evaluate their financials, key product offerings, recent developments, and strategies
- The hot runner temperature controller market is fragmented due to the presence of several players. Competition is expected to intensify in the coming years due to the entry of several local players.
- Key players operating in the global hot runner temperature controller market are
- EMI Corporation
- EWIKON Heißkanalsysteme GmbH
- GÜNTHER Heisskanaltechnik GmbH
- Hillenbrand, Inc. (Mold-Masters)
- Husky Injection Molding Systems Ltd.
- Inglass S.p.A.
- Meusburger Georg GmbH & Co KG
- Mold Hotrunner Solutions Inc.
- Yudo (Suzhou) Hot Runner Systems Co., Ltd.
- among others
Hot Runner Temperature Controller Market: Key Developments
- Key manufacturers of hot runner temperature controllers such as Meusburger Georg GmbH & Co KG, Gammaflux L.P., Inglass S.p.A. (HRSflow), and EWIKON Heißkanalsysteme GmbH are focusing on product innovation and development. Companies are focusing on expanding their geographical reach to stay competitive in the market and to cater to a large customer base. Furthermore, many manufacturers are planning to acquire small-scale companies or work in collaboration with them to have a competitive share of the global market. These are the key strategies followed by hot runner temperature controller companies to increase their market share in terms of revenue.
- In January 2021, Meusburger launched a new, innovative temperature interface - the TCbox. It allows the temperature measurement to be transferred from the profiTEMP+ directly to the hot runner.
- In 2019, EWIKON Heißkanalsysteme GmbH launched the new EWIKON pro CONTROL range of hot runner controllers. The quick control behavior makes pro CONTROL universally usable for standard applications as well as for demanding high-cavitation systems using slim and low-mass hot runner nozzles, which are difficult to control.
Hot Runner Temperature Controller Market – Scope of Report
A new study on the global hot runner temperature controller market has been published by Transparency Market Research (TMR). It presents a wealth of information on key market dynamics, including drivers, market trends, and challenges, as well as the structure of the global hot runner temperature controller market across the globe. TMR’s study offers valuable information about the global hot runner temperature controller market to illustrate how the market would grow during the forecast period, 2021–2031.
Key indicators of market growth, which include value chain as well as supply chain analyses, and Compound Annual Growth Rate (CAGR), are elucidated in TMR’s study in a comprehensive manner. This data can help readers interpret quantitative growth aspects of the global hot runner temperature controller market during the forecast period.
An extensive analysis on business strategies of leading market players is also featured in TMR’s study on the global hot runner temperature controller market. This can help readers understand principal factors to foresee growth in the global hot runner temperature controller market. In this study, readers can also find specific data on the qualitative and quantitative growth avenues for the global hot runner temperature controller market, which is expected to guide market players in making apt decisions in the future.
Key Questions Answered in TMR’s Hot Runner Temperature Controller Market Study
- What are the key factors influencing the hot runner temperature controller market in each region?
- What will be the CAGR of the global hot runner temperature controller market between 2021 and 2031?
- What is the future scope and current trends in technologies of the global hot runner temperature controller market?
- What is the revenue of the global hot runner temperature controller market based on segments?
- Which key strategies are used by top players of the global hot runner temperature controller market?
- Which are the leading companies in the global hot runner temperature controller market?
Research Methodology – Hot Runner Temperature Controller Market
A unique research methodology has been utilized by TMR to conduct comprehensive research on the growth of the global hot runner temperature controller market and arrive at conclusions on the future growth prospects of the market. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions.
Secondary sources referred to by analysts during the production of the global hot runner temperature controller market report include statistics from company annual reports, SEC filings, company websites, World Bank database, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of TMR’s study on the hot runner temperature controller market as a primary source.
These primary and secondary sources provided exclusive information during interviews, which serves as a validation from hot runner temperature controller industry leaders. Access to an extensive internal repository and external proprietary databases allows this report to address specific details and questions about the global hot runner temperature controller market with accuracy. The study also uses the top-down approach to assess the numbers for each segment and the bottom-up approach to counter-validate them. This has helped in making TMR’s estimates on the future prospects of the global hot runner temperature controller market more reliable and accurate.
Hot Runner Temperature Controller Market – Segmentation
TMR’s study on the global hot runner temperature controller market includes information categorized into six sections - control zone, temperature, end-use industry, pricing, distribution channel, and region. Changing industry trends and other crucial market dynamics associated with these sections of the hot runner temperature controller market are discussed in detail.