Vacuum Molding Press: Introduction
- Vacuum molding press is a simplified version of the thermoforming process. In this process, a plastic sheet is heated to a forming temperature, forced against the mold by a vacuum, and stretched onto a single-surface mold.
Key Drivers of the Global Vacuum Molding Press Market
- Demand for vacuum molding press has increased in the last few years due to growth in packaging industries at the global level. As a result, large scale packaging companies prefer to invest in vacuum molding press. These factors are expected to boost the demand in the coming years. Moreover, a large number of small scale press shops are also present in developing countries. These shops provide machining and molding service to packaging companies.
- Majority of packaging companies source molding products from vacuum molding press machining service providers. Many vacuum molding press companies also provide after sales services to increase customer engagement. Military & defense application segment of the market is expected to expand at a prominent pace during the forecast period 2021 to 2031.
Rising Investment in Automatic Products to Create New Market Opportunities
- The automated production process is expected to create new opportunities for automatic vacuum molding press machines. This product brings down production time and labor cost. As a result, its popularity is expected to rise in the coming years. Semi-automatic products currently account for majority of the market share at the global level.
High Bargaining Power of Buyers to Restrict Market Growth
- Vacuum molding press is available in the market with a large product range. Moreover, many small-scale manufacturers offer this product in a lower price. As a result, bargaining power of buyers is very high. This slows down the market for large scale vacuum molding press manufacturers.
Asia Pacific the Dominant Market for Vacuum Molding Press
- Asia Pacific accounted for the largest and fastest growing vacuum molding press market in 2020. North America and Europe accounted for significant share of the vacuum molding press market, with major players operating their global market from these regions. Large number of molding service providers are present in the North American region. The U.S. accounted for largest market share in North America followed by Canada. In Europe, Germany, UK, and France are the major manufacturers of vacuum molding press.
- Demand for vacuum molding press in China and India is expected to grow at a fast pace in the coming years. Rising number of small and medium scale companies coupled with rising investment in the packaging sector is expected to drive the market growth. Governments of different Asian countries are providing ease of tax payment to startup companies, which is also likely to propel the market growth.
Key Players Operating in the Global Vacuum Molding Press Market
The global vacuum molding press market is fragmented in nature. Large number of small and medium size companies are present in developing countries including China, India, Brazil, and South Africa. Small scale companies prefer to acquire local level markets which will help them to increase their overall revenue. Companies are working on product innovation 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 key players operating in the global vacuum molding press market are listed below:
- Arburg GmbH + Co KG
- Chen Hsong Holdings Limited
- Engel Austria GmbH
- Haitian International
- Husky Injection Molding Systems Ltd.
- Japan Steel Works, Ltd.
- Milacron Holdings Corp.
- Nissei America, Inc.
- Sumitomo Heavy Industries, Ltd.
- Ved Machinery
Global Vacuum Molding Press Market: Research Scope
Global Vacuum Molding Press Market, by Product Type
Global Vacuum Molding Press Market, by Application
- Military & Defense
Global Surface Grinding Machine Market, by Region
- North America
- Rest of North America
- Western Europe
- Nordic countries
- Rest of Western Europe
- Eastern Europe
- Rest of Eastern Europe
- Asia Pacific
- New Zealand
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- North Africa
- Rest of Middle East & Africa
- Latin America
- Rest of Latin America
The report on the global vacuum molding press 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.
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