Plastic Injection Molding Market Size - Global Industry, Share, Analysis, Trends and Forecast 2022 - 2030
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The Global Plastic Injection Molding Market Size accounted for USD 271.6 Billion in 2021 and is estimated to achieve a market size of USD 419.1 Billion by 2030 growing at a CAGR of 5% from 2022 to 2030. An injection molding machine, also known as an injection press, is a machine that creates plastic objects through the injection molding process. Increasing demand for components in the automotive, healthcare, and building and construction sectors, as well as increased awareness among manufacturers associated with these processes, are driving the injection molding machine market value.
Plastic Injection Molding Market Report Key Highlights
- Global plastic injection molding market revenue is estimated to expand by USD 419.1 billion by 2030, with a 5% CAGR from 2022 to 2030.
- Asia-Pacific plastic injection molding market share accounted for over 45% of total market shares in 2021
- North America plastic injection molding market growth will observe highest CAGR from 2022 to 2030
- Based on machine type, all-electric injection molding machines segment accounted for over 51% of the overall market share in 2021
- Among end-user industry, packaging segment engaged more than 32% of the total market share
- Increasing demand from the automotive sector, drives the plastic injection molding market size
Global Plastic Injection Molding Market Trends
Market Drivers
- High demand from packaging applications
- Robust demand from healthcare industry
- Increasing demand from the automotive sector
- Increased demand for consumer electronics
Market Restraints
- Presence of alternative technologies
- Stringent government regulations related to plastic use
Market Opportunities
- Growing focus on using lightweight materials in automotive industry
- Favorable government schemes such as foreign direct investment and tax cuts
Plastic Injection Molding Market Report Coverage
| Market | Plastic Injection Molding Market |
| Plastic Injection Molding Market Size 2021 | USD 271.6 Billion |
| Plastic Injection Molding Market Forecast 2030 | USD 419.1 Billion |
| Plastic Injection Molding Market CAGR During 2022 - 2030 | 5% |
| Plastic Injection Molding Market Analysis Period | 2018 - 2030 |
| Plastic Injection Molding Market Base Year | 2021 |
| Plastic Injection Molding Market Forecast Data | 2022 - 2030 |
| Segments Covered | By Machine Type, By End-User Industry, And By Geography |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Key Companies Profiled | Husky Injection Molding Systems Ltd, Haitian International Holdings Limited, Chen Hsong Holdings Limited, Sumitomo Heavy Industries Ltd, The Japan Steel Works Ltd, and Engel Austria GmbH. |
| Report Coverage |
Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis |
Increasing demand from the automotive sector for components in order to increase the efficiency of vehicles and growing awareness among manufacturers related to plastic injection molding is expected to surge the injection molding machine demand. The automotive sector is witnessing rapid advancements across the globe. The rise in passenger vehicle sales in developing countries and manufacturers' approach towards reducing the overall weight of the vehicles and improve fuel efficiency is resulting in demand for plastic components. Plastic components due to their ability to hand pressure is highly adopted by auto players, thus increasing the demand for plastic injection molding machines. The flourishing healthcare sector across the globe and increasing demand for smart medical devices are expected to support the growth of the plastic injection molding market.
Manufacturers are focused on decreasing the production cost and raise the volume. Plastic injection molding is a cost-effective process for producing medical plastic mold and components with high precision. The government of developing countries is engaged in providing favorable business solutions to enterprises. In addition, the availability of raw materials and low-cost labor is attracting players to shift the production facility of emerging economies. This is expected to positively impact the plastic injection molding market growth. Players are investing high in product development activities; their inclination towards acquiring a major customer base is resulting in new product offerings. Business acquisition activities to increase the company presence are anticipated factors to add revenue to the plastic injection molding market.
Factors attributed to negatively impact the global plastic injection molding market growth are stringent government regulations related to plastic and high volatility of price in raw materials. In addition, the economic slowdown is expected to impact the production of parts further challenging the growth of market development. However, supportive business policies by the government and high demand from the healthcare industry are factors expected to create new opportunities for players operating in the plastic injection molding market over the forecast period. In addition, inclination towards electric vehicles in the automotive sector is expected to support the revenue transaction of the target market.
Plastic Injection Molding Market Segmentation
The worldwide plastic injection molding market segmentation is based on the machine type, end-user industry, and geography.
Plastic Injection Molding Market By Machine Type
- All-Electric Injection Molding Machines
- Hydraulic Injection Molding Machine
- Hybrid Injection Molding Machines
The machine type is divided into hydraulic injection molding machines, all-electric injection molding machines, and hybrid injection molding machines. Among the machine types, the all-electric injection molding machines accounted for a revenue share of 48% in 2020 in the global plastic injection molding market.
Plastic Injection Molding Market By End-User Industry
- Packaging
- Consumables and Electronics
- Automotive
- Building & Construction
- Healthcare
- Others
The end-use segment is bifurcated into packaging, consumables and electronics, automotive, building & construction, healthcare, and others. The automotive sector is expected to dominate the growth in the target segment due to the high production of vehicles across the globe. The consumer goods sector is expected to witness faster growth in the plastic injection molding market over the forecast period.
Plastic Injection Molding Market Regional Outlook
North America
- U.S.
- Canada
Europe
- U.K.
- Germany
- France
- Spain
- Rest of Europe
Asia-Pacific
- India
- Japan
- China
- Australia
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
The Middle East & Africa
- South Africa
- GCC Countries
- Rest of the Middle East & Africa (ME&A)
Geographically, the North America region is expected to grow significantly in the global plastic injection molding market due to rapid improvements in manufacturing machinery. Rapidly developing healthcare sector and players focus on increasing the production volume of medical devices is expected to increase demand for efficient molding machines. The presence of large number of players operating in the country and the introduction of new products is expected to support the plastic injection molding market growth in this region.
Plastic Injection Molding Market Players
Some of the prominent global plastic injections molding market companies are Husky Injection Molding Systems Ltd, Haitian International Holdings Limited, Chen Hsong Holdings Limited, Sumitomo Heavy Industries Ltd, The Japan Steel Works Ltd, and Engel Austria GmbH.
- In 2020, Sumitomo Heavy Industries Ltd launched “SEEV-A-SHR” series. The products are super high-speed electric injection molding machines with high clamping force. The product launch will aid the company in attracting new customers.
- In 2020, Engel Austria GmbH with the focus to enhance the product offerings launched “E-Speed” a hybrid injection molding machine. The machine has the force of 2800 kN and helps manufacturers with a better quality product.
- In 2019, Hillenbrand, Inc., US-based Company acquired Milacron Holdings Corp for worth US$ 1.9 billion to enhance the customer base and increase the revenue.