PLASTIC INJECTION MOLDING MACHINE MARKET TOC
Part 01
Part 02
Part 03
Part 04
Part 05
Part 06
Part 07
Part 08
Part 09
Part 10
Part 11
Part 12
Part 13
Part 14
Part 15
Part 16
Part 17
Part 18
Part 19
Part 20
Part 21
Part 22
Part 23
Part 24
Part 25
Cross Analysis of Machine Type w.r.t. Application (USD Million), 2023-2036
Part 26
Plastic Injection Molding Machine Market size is anticipated to reach USD 18.19 billion by the end of 2036, growing at a CAGR of 4.20% during the forecast period i.e., 2024-2036. In the year 2023, industry size of plastic injection molding machine was over 10.74 billion. The growth of the market is driven in particular by the packaging industry. In the packaging of plastic products, such as cups and containers, injection molding is used extensively. The plastics injection molding machines allow manufacturers in the packaging industry to choose the most appropriate materials for their particular applications, which can be processed from a variety of thermoplastics. The production of plastic packaging accounts for almost 40% of the demand.
As public awareness of the large levels of plastic waste pollution is increasing, sustainability in the plastics sector continues to be a major debate topic. As a result, demand for sustainable products has increased and companies have been encouraged to include plastics that can be recycled or biodegradable, such as PLA or bio-PET, in their products. Moreover, the adoption of all electric injection machines has also increased due to their potential for considerable energy savings.
Growth Drivers
Challenges
Base Year |
2023 |
Forecast Year |
2024 – 2036 |
CAGR |
4.20% |
Base Year Market Size |
USD 10.74 billion |
Forecast Year Market Size |
USD 18.19 billion |
Regional Scope |
|
Machine Type (Hydraulic, Electric, Hybrid)
In terms of machine type, hydraulic segment in the plastic injection molding machine market is set to cross USD 9.74 billion by the end of 2036. Since the demand for medium-sized molded parts from industries like automotive, packaging, and consumer goods has grown, hydraulic plastic injection molding machines have become increasingly popular. These machines are well-suited to producing medium-sized plastic components because of their high clamping forces. Historically, the most common type of injection molding machine has been a hydraulic machine, which uses hydraulic systems to generate the necessary pressure for the injection process.
Application (Automotive, Consumer Goods, Packaging, Electronics)
The automotive segment in the plastic injection molding machine market is anticipated to surpass USD 6.81 billion during the anticipated time period. The automobile industry's growing need for injection molding equipment is partly due to the increasing use of plastic components in cars due to its cost-effectiveness, lightweight, and flexible design. Furthermore, the need for plastic injection molded parts—which are utilized in EV components like battery housings, connections, and interior components—is increasing as more people switch to electric cars. The growing need for injection molding machines in the automobile sector is further fueled by this trend. In just three years, the percentage of electric vehicles in overall sales has more than quadrupled, rising from 4% in 2020 to 14% in 2022.
Our in-depth analysis of the global market includes the following segments:
Machine Type |
|
Application |
|
Asia Pacific Excluding Japan Market Forecasts
The market in the Asia Pacific excluding Japan region is poised to reach USD 10.65 billion by the end of 2036. The Asia Pacific is home to some of the most important growth countries, such as China and India. Because of this, the region has enormous potential for growth in a number of sectors. The Asia Pacific region is home to around 61.0% of the world's population, and manufacturing and processing industries are expanding quickly. The Asia Pacific region is the world's largest market for injection moulding machines, with China accounting for the highest growth prospects. Rising disposable income and increasing living standards in developing Asia Pacific countries are the key drivers of this sector.
North American Market Statistics
The plastic injection molding machine market in the North American region is set to reach USD 2.44 billion during the forecast period. The growth of the packaging industry in this region is expected to be positively influenced by growing demand for on-the-go packaged products, due to increased purchasing power and a busy lifestyle in North America. For the production of different packaging products including containers, bottles, caps & closures and cases, a plastic injection molding machine shall be used. The market growth is expected to be driven by the growing demand for packaging products in this region, coupled with increasing use of plastic injection molders.
Author Credits: Rushikesh, Richa Gupta
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