Navigating the Complexities of the Injection Molding Machine Market Industry

The injection molding machine market size is estimated to be USD 10.3 billion in 2020 and is expected to reach USD 12.3 billion by 2025, at a CAGR of 3.6% during the forecast period. Factors such as growing demand from the healthcare industry, rapid industrialization in growing economies like China, India & Thailand, and increasing demand for plastic molds in electric vehicles will drive the injection molding machine market. The major restraint for the market will be the high initial and maintenance cost of the machines. However, rising awareness about energy saving will act as an opportunity for the market.

Browse?275 market data Tables and?56 Figures spread through?290 Pages and in-depth TOC on "Injection Molding Machine Market by Machine Type (Hydraulic, All-electric, and Hybrid), Clamping Force (0-200, 201-500 and Above 500), Product Type (Plastic, Rubber, Metals), End-Use Industry (Automotive, Packaging) and Region - Global Forecast"

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The key market players profiled in the report include Haitian International Holdings Limited (China), Chen Hsong Holdings Limited (China), Sumitomo Heavy Industries Ltd. (Japan), Engel Austria GmbH (Austria), Hillenbrand, Inc. (US), and others. They are continuously undertaking developmental strategies such as expansions, new product launches, acquisitions, and contracts & agreements to strengthen their position in the injection molding machine market.

Players in the injection molding machine market are mainly concentrating on new product launches, acquisitions, and collaboration to meet the growing demand for various applications. New product launches help companies to strengthen their product portfolio and meet the specific demands of customers.

The growth of the injection molding machine market has been largely influenced by new product launches that were undertaken between 2016 and 2020. Companies such as Haitian International Holdings Limited and Chen Hsong Holdings Limited have adopted new product launches to enhance their market position.

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Haitian International Holdings Limited. is one of the major players in the injection molding machine market. In order to strengthen its product portfolio, the company is focusing on organic growth for meeting client’s requirements. In May 2019, Absolute Haitian Corporation, the sales and service partner of Haitian International, expanded its North American operations with the opening of a 116,000-sq.-ft. facility in Moncks Corner, South Carolina, US. Haitian launched a new Jupiter 3 series, which has better features than that of the Jupiter 2 series. It has better intelligent control and digitization of processes.

Chen Hsong Holdings Limited is another leading injection molding machine manufacturers, globally. It has a customer base in more than 90 countries, including China, Taiwan, the US, Canada, France, the UK, Germany, Turkey, India, Brazil, Argentina, and Mexico. The company is engaged in expanding its presence across the globe and cater to potential markets. For instance, Chen Hsong’s wholly-owned subsidiary in India, named, Chen Hsong Machinery (India), in November 2018. The main purpose of the company is to provide timely and high-quality services, spare parts, solutions, and technical assistance to the vast plastics industry in India. Chen Hsong Holdings Ltd had launched SPEED-PACK 260 of the SPEED-PACK Series and a JM88-MK6 of the JETMASTER MK6 Series in October 2018.

The companies also adopted acquisition as a strategy to increase their share and market presence. For instance, in November 2019, Hillenbrand, Inc. completed the acquisition of Milacron Holdings Corp. at approximately USD 1.9 billion. Also, Nissei Plastic Industrial Co., Ltd. acquired NEGRI BOSSI S.P.A. (NEGRI BOSSI) Group, an injection molding machine manufacturer in Italy.

Global Injection Molding Machine Market Industry Revenue Pockets

The injection molding machine market is projected to reach USD 12.3 billion by 2025, at a CAGR of 3.6% from USD 10.3 billion in 2020. An injection molding machine is used for manufacturing products made up of plastics, rubber, metal, and ceramic. It consists of two main parts - an injection unit and a clamping unit. The injection unit is like an extruder, whereas the clamping unit is concerned with the operation of the mold. Injection molding machines can fasten the molds either at the horizontal or the vertical position. Factors such as growing demand from the healthcare industry, rapid industrialization in growing economies like China, India & Thailand, and increasing demand for plastic molds in electric vehicles will drive the injection molding machine market.

Based on machine type, the injection molding machine market is segmented as Hydraulic, All-Electric, and Hybrid. Hydraulic accounted for the largest share in this segment. Hydraulic injection molding machine is the most popular machine type, primarily because of its long service life and a wide range of applications. The hydraulic injection molding machine consists of a fixed-speed, three-phase motor, and a variable-volume pump. Hydraulic injection molding machines have a long life, far drive distance, and low maintenance cost. This type of machine helps in a significant reduction of production cycle time. Molders mainly use high-tonnage hydraulic machines for molding large parts. This machine is mainly used for producing high precision components such as automotive parts, caps & closers, consumer goods, electrical & electronics goods, and medical items.

Based on clamping force, the injection molding machine market is segmented as 0-200 tons force, 201-500 tons force, and Above 500 tons force. The 201–500 ton-force segment accounted for the largest market share in terms of value, in 2019 and is projected to register the highest CAGR during the forecast period. This high growth is attributed to the rising demand for medium-sized molded parts from major end-use industries such as automotive, packaging, and consumer goods. The clamping force of 201–500 ton-force is mainly used in medium-sized injection molding machines. Machine types such as hydraulic, all-electric, and hybrid are available in 201–500 ton-force. These machines are mainly used for applications in the automotive, packaging, and consumer goods industries, where relatively medium-sized molded parts are required

On the basis of product type, injection molding machine market is segmented into plastic (thermoplastics and thermosets), rubber, metal (powder and liquid), ceramic, and others (microinjection, gas injection molding, and liquid silicone rubber). Injection molding machines for plastic products is the most dominant and accounted for the largest share of the injection molding machine market in 2019. Injection molding is the manufacturing process for making plastic parts and products from thermoplastics and thermosetting materials. Commonly used plastic in the injection molding process are nylon, polypropylene, polystyrene, polyethylene, and unsaturated polyesters. Plastic products are manufactured using high-quality raw materials that ensure their superior quality. The injection molding process for plastic products involves heating the polymer until it is liquid and then using pressure to force it into the mold. The process is very fast and complicated. In spite of expensive tooling cost, injection molding is the most popular manufacturing process for the mass production of plastic materials. Injection molding machines are used to produce various plastic products such as power-tool housing, telephone handsets, electrical switches, car bumpers, dashboards, syringes, disposable razors, and bottle lids/closures.

Based on end-use industry, the injection molding machine market has been segmented into automotive, consumer goods, packaging, healthcare, electrical & electronics, and others. The demand for injection molding machines in automotive end-use is the largest in this segment.?Injection molding machines are predominantly used in manufacturing automotive components, interior wrapping, and assembly parts, such as automotive exteriors, car lenses, interior components, under-the-hood components, and filter components. A strong shift in the use of plastics instead of iron and steel in the automotive industry is expected to drive the injection molding machine market during the forecast period. Stringent government regulations have forced automotive manufacturers to use plastics instead of other materials such as iron and steel. Rapid economic growth, improved infrastructure, and rising middle-class population in emerging economies have led to an increase in vehicle production and sales, which, in turn, increase the demand for injection molding machines. The rapidly growing automotive industry in APAC is also one of the major factors driving the injection molding machine market.

On the basis of region, APAC is the largest market for injection molding machine market. The APAC comprises major emerging nations such as China and India. Hence, the scope for the development of most industries is high in this region. The injection molding machine market is growing significantly and offers opportunities for various manufacturers. The APAC region constitutes approximately 61.0% of the world’s population, and the manufacturing and processing sectors are growing rapidly in the region. The APAC is the largest injection molding machine market with China being the major market that is expected to grow significantly. The rising disposable incomes and rising standards of living in emerging economies in the APAC are the major drivers for this market.

The increasing population in the region accompanied with the development of new technologies and products are projected to make this region an ideal destination for the growth of the injection molding machine market. However, establishing new plants, implementing new technologies, and creating a value supply chain between raw material providers and manufacturing industries in the emerging regions of the APAC are expected to be a challenge for industry players as there is low urbanization and industrialization. Booming automotive, consumer goods and packaging sectors and advances in process manufacturing are some of the key drivers for the market in the APAC. Countries such as India, Indonesia, and China are expected to witness high growth in the injection molding machine market due to the increasing demand from the automotive industry.?

The key market players profiled in the report include Haitian International Holdings Limited (China), Chen Hsong Holdings Limited (China), Sumitomo Heavy Industries Ltd. (Japan), Engel Austria GmbH (Austria), Hillenbrand, Inc. (US), and others. They are continuously undertaking developmental strategies such as expansions, new product launches, acquisitions, and contracts & agreements to strengthen their position in the injection molding machine market.