Plastic Injection Molding Machines Market Expected to Reach $12.7 Billion by 2030-Allied Market Research

PORTLAND, OR, UNITES STATES, March 10, 2022 /EINPresswire.com/ -- The global plastic injection molding machines market was valued at $8.3 billion in 2020, and is projected to reach $12.7 billion in 2030, growing at a CAGR of 4.9%. The Asia-Pacific segment accounted for around 49.5% of the global injection molding machines market share in 2020 and is expected to witness significant growth during the forecast period. Injection molding machines are used for making highly precise plastic components. Injection molding machine is an ideal solution for manufacturing large volumes of plastic and rubber products. The growth of the global plastic injection molding machines market is driven by surge in demand for plastic products and rubber products among end users, such as consumer goods, automotive, toy making, and packaging applications, across the world.

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The global plastic injection molding machines market is segmented based on material, application, clamping force, type, mode of operation, and region. Based on material, the market is divided into polypropylene, polyethylene, thermoplastic elastomer, cyclic olefin copolymer, acrylonitrile butadiene styrene, and others. The polyethylene segment is anticipated to dominate the global plastic injection molding machines market during the study period. Based on application, the market is classified into packaging, closures, medical, PET reforms, automotive, and others. The others segment is anticipated to dominate the global plastic injection molding machines market during the study period. Based on clamping force, the market is differentiated into less than 200 tons force, 200 tons to 500 tons force, and more than 500 tons force. The more than 500 ton segment is anticipated to dominate the global plastic injection molding machines market. Based on type, the market is divided into standard injection molding machine, multi-component injection molding machine, and LSR injection molding machine. The standard injection molding machines segment is anticipated to dominate the global plastic injection molding machines market. Based on mode of operation, the market is fragmented into electric, hydraulic, and hybrid. The hydraulic segment is anticipated to dominate the global plastic injection molding machine market.

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Benefits associated with injection molding machines, such as easy to operate, robustness, high quality, and higher manufacturing rates & rapid production, fuel the growth of the global plastic injection molding machines market. In addition, growth in the automotive industry in emerging economies, such as Brazil, Africa, and India, surges the demand for plastic components in various end users, and thus fuels the growth of global plastic injection molding machines market. For instance, the automotive industry in Brazil is projected to grow at 4.5% from 2017 to 2022. In addition, growth in the packaging industry in various developing countries, such as India, China, Brazil, and others, fuels the growth of the global plastic injection molding machines market. For instance, the packaging industry in India is expected to grow at a rate of 26.7% from 2021 to 2026.

During lockdown, due to the COVID-19 pandemic, manufacturers in the global plastic injection molding machines market had to stop their business production due to lockdown in countries such as U.S., China, Brazil, and others. This halt in business activities directly impacted the sales of injection molding machines. For instance, Hillenbrand Inc. registered a decrease in net sales of 5% from September 2019 to September 2020. Further, reduction in count of novel coronavirus patients is attributed to safety measures taken by governments and availability of vaccines at the earliest 2021 or by end of 2020. This is further expected to reopen the global plastic injection molding machines market.

Market players-
ARBURG GmbH + Co KG, ENGEL Austria GmbH, Haitian International Holding Ltd, Husky Injection Molding Systems, Krauss Maffei Group, Milacron Holdings Corp., Shibaura Machine Co Ltd., Sumitomo Heavy Industries, The Japan Steel Works, and Ube Industries, Ltd.

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David Correa
Allied Analytics LLP
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