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According to the latest report by IMARC Group The global hot runner market reached a value of US$ 3.4 Billion in 2021.
SHERIDAN, WYOMING, UNITED STATES, June 9, 2022 /EINPresswire.com/ -- According to the latest report by IMARC Group “Hot Runner Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, The global hot runner market size reached a value of US$ 3.4 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 5.2 Billion by 2027, exhibiting a CAGR of 7.47% during 2022-2027.
Hot runner refers to an industrial feed device used to transfer molten plastic into molding tool cavities for manufacturing various plastic products. It contains nozzles, manifold plates, hot valves, flow control systems, etc., and is usually available in valve gate and open gate variants. Contrary to traditional cold runner systems, hot runners prevent material solidification, reducing cycle time, plastic waste generation, trimming required to smoothen the final product, etc. As a result, several industries, including construction, automotive, electronics, medical, packaging, etc., utilize these devices.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
The elevating levels of industrialization worldwide are primarily driving the hot runner market. Moreover, increasing demand for injection-molded plastic products across the healthcare and automotive industries is further bolstering the market growth. For instance, automotive manufacturers are extensively utilizing injection-molded components for exterior, interior, lighting, etc., to assemble lightweight vehicles with minimal carbon emissions. Furthermore, various technological advancements, such as the escalating incorporation of the Internet of Things (IoT) and smart sensors in connected devices, are also acting as growth-inducing factors. Apart from this, the rising implementation of favorable government policies across several nations encouraging the use of lightweight plastic molding systems, coupled with the advent of Industry 4.0 trends, are further anticipated to fuel the hot runner market in the coming years.
Valve Gate Hot Runner Open Gate Hot Runner
Breakup by End Use Industry:
Automotive Electronic Medical Packaging Others
North America (United States, Canada) Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others) Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others) Latin America (Brazil, Mexico, Others) Middle East and Africa
Competitive Landscape with Key Player:
Barnes Group Inc. CACO PACIFIC Corporation EWIKON Heisskanalsysteme GmbH Fast Heat UK Limited FISA Corporation GUNTHER Heisskanaltechnik GmbH Husky Injection Molding Systems Ltd. INCOE Corporation Inglass S.p.A (OC Oerlikon Management AG) Milacron Holdings Corp. (Hillenbrand Inc.) Seiki Corporation Yudo Co. Ltd.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Elena Anderson IMARC Services Private Limited +1 6317911145 email us here
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