There were 775 press releases posted in the last 24 hours and 184,299 in the last 365 days.
The growing demand in the automobile industry, technological advancements, & the rising demand from the packaging industry are driving factors for the market.
NEW YORK CITY, NEW YORK, UNITED STATES, April 28, 2022 /EINPresswire.com/ -- The global Injection Molding Machine market is forecast to reach USD 23.31 Billion by 2030, according to a new report by Reports and Data. It is expected that the superior structural properties of injection molding machine, growth & modernization, and increased demand from existing and emerging applications would boost demand for the machine globally. The growing demand for injection-molded plastic products is expected to drive the adoption of molding machines for injection. Also, it is anticipated that increased focus on the use of energy-efficient devices would propel the growth of the global injection molding machine market. Besides, it is estimated that the development of the hybrid machine and the surge in the use of all-electric machines will fuel global market growth over the coming years. Growing information about energy saving also propels the market growth. Moreover, higher production levels and rapid production by injection molding are expected to cater for growth in the industry.
The injection molding machine provides enhanced precision in manufacturing products, improved durability, and a high level of process energy efficiency, which helps to manufacture a wide range of products. The greater emphasis of lightweight materials in the automotive industry has projected the use of plastics in the manufacturing of automotive parts, which will, in turn, drive the market. Increasing population, rising industrialization, and emerging technologies have created a demand for the automobile in developing economies.
High injection molding machines prices and high tooling costs, however, impede the market growth. Alternatively, technical advancements and innovations in architecture deliver lucrative business opportunities.
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Major companies profiled in the global market report include - Sumitomo (SHI) Demag Plastics Machinery GmbH, Arburg GmbH + Co KG, Chen Hsong Holdings Ltd., Husky Injection Molding Systems Ltd., Haitian International Holdings Ltd., Milacron, Nissel Plastic Industrial Co. Ltd., ENGEL Austria GmbH, Japan Steel Works Limited, and Toyo Machinery & Metal Co. Ltd., among others.
Further key findings from the report suggest
The rapid urbanization, rising government spending on packaged goods, and the surge in e-commerce and integrated retailing boost the growth of the packaging industry. The competitive environment between manufacturers has resulted in the adoption of various packaging types. This drives the market and is anticipated to grow further with a CAGR of 3.7%. The Asia Pacific emerged as the leading market. The growing demand from the automotive sector, mainly due to the rising need for lightweight vehicles along with the numbers of domestic manufacturers in the region assisted by government guidelines, will drive growth in the market. North America follows APAC in terms of market share, and the automobile segment dominated the market. The region has excellent growth potential in the forecasted period and is expected to grow from 2019 to 2027 at an estimated 3.8% CAGR. The U.S., because of its highly developed technology industries, advanced processing capabilities, combined with a highly skilled workforce and growing R&D initiatives, is among the leading countries in the market for injection molding machines. Developing applications and strong demand encourage producers to concentrate on new technologies to expand the market.
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The COVID-19 impact: The Injection Molding Machine industry has suffered some impact but maintained a relatively positive performance; analysts believe that the size of the market will be further expanded in the next few years. The pandemic's debilitating effect has negatively impacted production and demand, established supply chain, and market disruption. Its economic impact on companies and financial markets is also not favorable. Stock market volatility and decreasingglobal growth are anticipated, which will affect the sale for Injection Molding Machine.
Some key developments in the market:
On 3 April, 2022, Westec Plastics, a leading custom injection molder for the medical and biotech industries, based in Livermore, California, announced the addition of three new Arburg two-shot injection molding machines to its production facility. These machines include two 550-ton presses and one 275-ton press. In addition, these machines have indexing platens that help rotate the mold and receive multiple shots. On 7 October, 2021, Beacon Manufacturing Group, a leading provider of custom-engineered molded products, assembled components, innovative solutions, and value-added engineering services based in Massachusetts, announced the acquisition of Acromatic Plastics, a company that specializes in custom, high-quality injection molding, insert molding, and structural foam molding. Furthermore, the acquisition has enabled Beacon MedTech Solutions, one of Beacon Manufacturing Group's subsidiaries, to build a 110,000-square-foot state-of-the-art manufacturing facility. This facility provides Beacon MedTech with the scale, capacity, and capability it requires to accelerate the launch of new programs while providing exceptional services to meet the needs of its existing customers.
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Material Outlook (Revenue, USD Billion; 2019-2030)
Technology Outlook (Revenue, USD Billion; 2019-2030)
Application Outlook (Revenue, USD Billion; 2019-2030)
Automotive Consumer Goods Packaging Electronics Others
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Regional Outlook (Revenue, USD Billion; Volume, Million Tons, 2019-2030)
North America Europe Asia Pacific Latin America Middle East & Africa
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