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NEW YORK , April 28, 2022 /PRNewswire/ -- The global injection molding market report by Technavio expects the market to observe significant growth in APAC between 2021 and 2026. The rapid growth of the end-user industries, such as e-commerce, fast-moving consumer goods (FMCG), and pharmaceutical in countries such as China , India , and Japan have increased the demand for packaging products. In addition, the rising demand for commercial infrastructure and industrial buildings in the region is creating several growth opportunities for market players.
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Injection Molding Market: Key Drivers
The market is driven by the rising adoption of high-efficient injection molding machines in the packaging industry. In addition, new developments in injection molding technology are expected to propel the market to observe an incremental growth of USD 4.36 billion between 2021 and 2026.
Conventional injection molding operations consume almost as much energy expenditure as it does on direct labor. As operators look to reduce costs and enhance sustainability, the demand for new equipment and retrofitting services has significantly increased. New machines can save energy up to 20%-25%, which is higher than traditional injection molding machines. Additionally, the low energy consumption and reduced cycle time make them suitable for the production of injection molding machines in the packaging industry. All these factors are expected to drive the growth of the market during the forecast period.
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Major Vendors in Injection Molding Market:
The global injection molding market size is fragmented and is characterized by the presence of large- and small-scale vendors that offer similar products to the end-user industries, which include packaging, electronics, and automotive. Established players in the market have strong customer support capabilities, financial abilities, and technical expertise for product development. They are competing based on innovation, price, operational costs, and product quality. Some players are driving down market prices through competitive pricing. In addition, some suppliers have huge financial, technological, and other resources than their competitors and such players can withstand changes in market conditions.
Technavio identifies the following as the dominant players in the market.
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Injection Molding Market: Segmentation Analysis
The 120-pages report segments the global injection molding market by (plastics, rubber, and others) and geography (APAC, North America , Europe , South America , and the Middle East and Africa ).
Injection Molding Market: Type Outlook (Revenue, USD Billion, 2021-2026)
The plastics segment generated maximum revenue in the market in 2021. The increasing demand for plastic injection molding machines from various applications, such as packaging, automobile, and consumer goods and electronics is driving the growth of the segment. The market growth in the segment will be significant during the forecast period.
Injection Molding Market: Geography Outlook (Revenue, USD Billion, 2021-2026)
APAC will have the largest share of the market during the forecast period. The thriving e-commerce industry is driving the growth of the regional market. China , Japan , and India are the key markets for injection molding in APAC. Market growth in this region will be faster than the growth of the market in other regions.
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Plastic Processing Machinery Market by Product, End-user, and Geography - Forecast and Analysis 2022-2026
Powder Injection Molding Market by End-user and Geography - Forecast and Analysis 2022-2026
Accelerate at a CAGR of 4%
APAC, North America, Europe, South America, and Middle East and Africa
US, China, Japan, India, and Germany
Leading companies, competitive strategies, consumer engagement scope
ARBURG GmbH Co KG, BORCHE NORTH AMERICA INC., Chen Hsong Holdings Ltd., Dr. Boy GmbH and Co. KG, ENGEL AUSTRIA GmbH, Fu Chun Shin Machinery Manufacture Co. Ltd., Haitian International Holdings Ltd., Hillenbrand Inc., Huarong Plastic Machinery CO. LTD., Husky Corp., KraussMaffei Technologies GmbH, Mold Hotrunner Solutions Inc., MULTIPLAS ENGINERY CO. LTD., Niigata Machine Techno Co. Ltd., NISSEI PLASTIC INDUSTRIAL Co. Ltd., Shibaura Machine Co. Ltd., Sumitomo Heavy Industries Ltd., The Japan Steel Works Ltd., Toyo Machinery and Metal Co. Ltd., and Woojin Plaimm Co. Ltd.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,
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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
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Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: [email protected] Website: www.technavio.com/
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