Plastic Injection Molding Machines Market

Plastic Injection Molding Machines Market: Introduction

Injection molding machines perform the injection molding process, which is mostly used to manufacture plastic parts. The injection molding process can be employed to manufacture a wide variety of parts or products, which might vary greatly in their structures, dimensions, and end-use applications. The injection molding machine melts the material to be injected into the shaping mold, where the molten material cools off and solidifies, taking the shape of the desired component. Plastic injection molding is the process of producing plastic parts by injecting molten plastic into a metal mold.

Key drivers of the plastic injection molding machines market

Growing demand for the product in the market can be attributed to the rise in demand for plastic injection molding machines in end-use industries such as automotive, consumer goods, packaging, healthcare, and electrical & electronics. Rising demand from the healthcare industry, rapid industrialization in growing economies such as China, India, and Thailand, and increasing demand for plastic molds in electric vehicles are driving the plastic injection molding machine market. Asia Pacific is the key market for plastic injection molding machines, globally, followed by Europe and North America, in terms of volume and value. These factors act as drivers of the plastic injection molding machines market at the global level.

Energy saving awareness creating opportunities in the plastic injection molding machines market

Increasing awareness regarding energy saving worldwide has led to an increase in demand for plastic injection molding machines. All-electric is the fastest growing type of plastic injection molding machine. The latest advancement in the all-electric plastic injection molding machine is that it saves energy, has increased precision and re-usability, and offers low maintenance without the requirement of oil for cleaning etc. All-electric injection molding machines save up to 70% of energy as compared to conventional hydraulic machines. Other improved features include no chance of fluid leakage or misting in all-electric injection molding machines which reduces the possibility of material and surface contamination. Also, increasing demand for large parts of plastic injection molding machines is seen. According to the Plastics Industry Association, the shipment of large machines has increased more than small machines. Large plastic injection molding machines give companies good business opportunities in various markets, including sports, agriculture, and automotive. These factors create new opportunities for the plastic injection molding machines market.

High maintenance cost a restraint of the plastic injection molding machines market

Electric injection molding machines have production efficiency such as short injection times due to dynamic servo-motors, greater repeatability, and reduced noise. Investment costs are high due to the superior technology of these machines, which is a restraint of the market. Another disadvantage is the high maintenance in case of waste. For example, in the event of motor failure, the entire system should be changed, which leads to high maintenance costs. These factors are restraints of the plastic injection molding machines market.

Asia Pacific the dominant market

Asia Pacific accounts for highest share in the plastic injection molding machines market in terms of revenue contribution due to increased adoption of plastic injection molding machines by various end-users such as consumer goods, packaging, and healthcare in the region. Lately, there has been a rise in demand for plastic injection molding machines from makeshift hospitals and healthcare institutes around the globe to manufacture various medical equipment. The outbreak of Coronavirus across the globe brought the healthcare industry into the limelight.  Demand for medical equipment - syringes, air systems, and other medical instruments surged exponentially due to increase in the number of Covid-19 cases. India and China became the hub for manufacturing and meeting the demand for all these equipment across the globe.

Key players operating in the global market

Companies are working on product innovation and development to increase their customer base. Furthermore, key companies are adopting the merger and acquisition strategy to improve their market revenue at the global level. Some of the major companies identified in the plastic injection molding machines market are:

• Haitian International Holdings Limited
• Chen Hsong Holdings Limited
• Sumitomo Heavy Industries Ltd.
• Engel Austria GmbH (Austria)
• Hillenbrand, Inc.

Plastic Injection Molding Machines Market: Research Scope

Plastic Injection Molding Machines Market, by Machine Type

• Hydraulic
• All-electric
• Hybrid

Plastic Injection Molding Machines Market, by Clamping Force

• Below 200 Tons Force
• Between 201-500 Tons Force
• Above 500 Tons Force

Plastic Injection Molding Machines Market, by End-user

• Automotive
• Consumer Goods
• Packaging
• Healthcare
• Electricals & Electronics
• Others

Plastic Injection Molding Machines Market, by Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • Germany
  • France
  • U.K.
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Rest of Asia Pacific
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa
• South America
  • Brazil
  • Rest of South America

The report on the plastic injection molding machines market is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators, and governing factors, along with market attractiveness as per segments. The report also maps the qualitative impact of various factors on market segments and regions.