Injection Molding Machinery Market Projected to Hit USD 13.42 Billion at a 3.89% CAGR by 2027 – Report by Market Research Future (MRFR)

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New York, US, Nov. 01, 2022 (GLOBE NEWSWIRE) — According to a comprehensive research report by Market Research Future (MRFR), “Injection Molding Machinery Market Research Report: Information by Type, Clamping Force, Material, End-Use, and Region —Forecast till 2027” states that the global injection molding machinery market is estimated to grow to USD 13.42 BN by 2027, with a 3.89% CAGR during the assessment period.

Injection Molding Machinery Market Overview

The global injection molding machinery market is growing at a rapid pace. The market growth attributes to the massive adoption of injection molding machinery in the food & beverage packaging and consumer electronics industry. The growing usage of injection molding machinery in the making of lightweight vehicles is another major growth driver for the market. With the rising demand for lightweight vehicles led by stringent emission regulations concerning environmental health, the market value is estimated to escalate further during the next few years

Injection molding machinery is used in the making of lighter-weight parts. These machines can switch from high-pressure to low-pressure, allowing immediate energy savings. The low-constant-pressure injection molding process fills the mold slowly, allowing the material to cool, densify, and pack-as-it-fills. 

Players leading the global injection molding machinery market include,

  • HAITIAN International (China)
  • SUMITOMO Heavy Industries (Japan)
  • JAPAN Steel Works (Japan)
  • Chen Hsong Holdings (Hong Kong)
  • Hillenbrand Inc (US)
  • and Dongshin Hydraulic (South Korea)

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Automatic injection molding machines can operate without an operator, adapting to significant melt flow variations to continue to make quality parts. Adding 3D visualization to injection molding systems is the latest trend, which delivers high-quality parts at unprecedented speed. It enables complete automation of injection molding workflows, allowing users to speed up new product design and reduce manufacturing risks & delays.

Industry Trends

The rising sales of ready-to-eat processed food with longer shelf life led by the heady lifestyle augments the demand for sustainable packaging solutions in the F&B industry. On the other hand, growing sales of compact & portable electronic instruments and electrical appliances fuels define the growing landscape of the consumer electronics market.

These factors would support the market growth throughout the review period. Additionally, the excessive use of injection molding machinery in medical device manufacturing and health & hygiene product packaging increases the market size. 

Conversely, price volatility and the demand-supply gap in raw materials required to produce injection molding machines are major factors expected to impede market growth. Nevertheless, substantially rising investments in developing new manufacturing techniques would support market growth throughout the forecast period. 

Injection Molding Machinery Market Report Scope:

Report Metrics Details
  Market Size by 2027 USD 13.42 billion
  CAGR 3.89%
 Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
 Key Market Opportunities Demand For Large-Tonnage Injection Molding Machines
  Key Market Drivers Rising Awareness About Energy Saving

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Injection Molding Machinery Market Segments

The injection molding machinery market report is segmented into types, clamping forces, materials, end-uses, and regions. The type segment is sub-segmented into electric, hydraulic, and hybrid machines. The clamping force segment is sub-segmented into less than 200 tons force, 200 to 500 tons force, and more than 500 tons force. 

The material segment is sub-segmented into rubber, metal, plastic, and ceramics. The end-use segment is sub-segmented into automotive, packaging, consumer goods, healthcare, electrical & electronics, and others. The region segment is sub-segmented into the Americas, Asia-Pacific, MEA, Europe, and rest-of-the-world.

Injection Molding Machinery Market Geographical Analysis 

The Asia Pacific region dominates the global injection molding machinery market, accounting for a large number of machine manufacturers. Besides, the growing use of injection molding machinery across major end-use industries, including packaging, automotive, construction, electronics, and others, substantiates the region’s market shares. 

Also, the rising consumption of plastic compounds in packaging manufacturing is a major growth driver. Increasing demand for mouldable materials, such as rubber, metal, and ceramics, in the making of electrical & electronics, and consumer goods boosts the market size. Moreover, the rising per capita income boosts the market demand, driving the portable consumer electronics industry.

North America is another growing market for injection molding machinery. The growing demand for lightweight and durable components in the booming automotive industry drives the market demand. Additionally, the high consumption of plastic materials in the food & beverage packaging industry helps the regional market to witness considerable growth.

The injection molding machinery market in Europe is growing briskly. Factors such as the usage of PET packaging and increasing production & sales of lightweight automotive components push the regional market growth. Furthermore, the growing focus on renewable raw material to manufacture plastics used in food packaging and automotive industries foster market growth. Heavy investments in healthcare drive the demand for injection molding machinery in this region. 

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Injection Molding Machinery Market Competitive Landscape 

Highly competitive, the injection molding machinery market appears fragmented due to the presence of several large and small players. They make huge investments in R&D and increase their global footprints. Manufacturers of injection molding machinery open new production facilities in emerging regions where ample raw materials and workforces are available at competitive rates. 

The market is expected to witness various innovative product launches. To gain a larger competitive share, market players initiate strategic approaches such as mergers & acquisitions, collaboration, expansion, and product/technology launches.

For instance, on Oct. 25, 2022, IOTech, an industrial IoT Edge software company, announced a partnership with King Steel Machinery Co., Ltd., a leading injection molding machine manufacturer providing Industry 4.0 capabilities and connectivity to smart manufacturing equipment. 

IOTech plug-and-play edge platform allows users to create industrial applications, leveraging advanced AI, analytics, and inferencing technologies. IOTech’s industrial edge software platform will deliver real-time data acquisition, storage, visualization, and analytics capabilities for King Steel’s award-winning NexCell Injection Molding Machines.

In another instance, on Oct. 18, 2022, LS Mtron Injection Molding Machines launched a new AI-based injection molding assistant offering two distinct systems AI molding assistant and smart weight control. The Artificial Intelligence-based molding assistant is a condition derivation system that can reduce the downtime needed to stabilize the initial molding setup.

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The process learns and imitates the behavior of highly skilled molding specialists via AI. At the same time, smart weight control identifies weight changes in a molded part and alters the processing conditions in real-time, fixing deviations and meeting the correct product specifications. LS Mtron’s new AI molding assistant and smart weight control technologies can help molders reduce costs while achieving higher quality and productivity.

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