Plastic Injection Molding Machine Market Size, Share, Industry Analysis, Trends, Growth, Forecasts 2032

Plastic Injection Molding Machine Industry Prospective:

The global plastic injection molding machine market size was evaluated at $10.2 billion in 2023 and is slated to hit $20.5 billion by the end of 2032 with a CAGR of nearly 8.06% between 2024 and 2032.

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Plastic Injection Molding Machine Market: Overview

A plastic injection molding machine is a device that is utilized for the injection molding of plastic items. Reportedly, the product is made up of two key parts, a clamping unit and an injection unit. Furthermore, it makes use of injection molding manufacturing methods for creating components through the injection of molten material into the mold. Moreover, it is then cooled and hardened to form the shape of a cavity. In addition to this, plastic injection molding is used extensively for manufacturing plastic components of medical devices, toys, aerospace, and automotive.

Key Insights

• As per the analysis shared by our research analyst, the global plastic injection molding machine market is projected to expand annually at the annual growth rate of around 8.06% over the forecast timespan (2024-2032)
• In terms of revenue, the global plastic injection molding machine market size was evaluated at nearly $10.2 billion in 2023 and is expected to reach $20.5 billion by 2032.
• The global plastic injection molding machine market is anticipated to grow rapidly over the forecast timeline owing to a massive need for power savings has led to humungous product demand globally.
• In terms of technology, the hydraulic segment is slated to register the highest CAGR over the forecast period.
• Based on mode of end-user, the automotive segment is predicted to lead the segmental space in the upcoming years.
• Region-wise, the North American plastic injection molding machine industry is projected to register the fastest CAGR during the projected timespan.

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Plastic Injection Molding Machine Market: Growth Factors

Huge requirement of reducing electricity bills to boost global market trends

The massive need for power savings has led to humungous product demand globally, thereby culminating in the humungous expansion of the global plastic injection molding machine market. Low maintenance charges and the need for high speed & precision will steer the expansion of the market globally. The large-scale use of plastics in packaging, defense, home appliances, electronics, and automotive sectors is predicted to prop up the expansion of the market globally.

An increase in end-user spending on construction activities is predicted to scale up the global market expansion. Innovations in the injection molding processes and the rise in the production of complex plastic shapes are anticipated to steer the expansion of the global market. With the government aiding foreign direct investment, the market for plastic injection molding machines is anticipated to expand by leaps & bounds in the years to come.

Plastic Injection Molding Machine Market: Restraints

Growing raw material prices to impact the growth of the global industry over the forecast period

Oscillating costs of raw components such as ethylene, benzene, styrene, and propylene are expected to restrict the growth of the global plastic injection molding machine industry. Surging environmental concerns about volatile organic compounds emissions and disposal of by-products can impede the global industry surge.

Plastic Injection Molding Machine Market: Opportunities

Introduction of new products to open a slew of growth avenues for the market across the globe over 2024-2032

Launching of innovative products such as IoT-driven injection molding machines and software-based injection molding machines is projected to open new growth avenues for the global plastic injection molding machine market. Innovations in the plastic injection molding processes including gas-assisted injection molding, multiple component injection molding, and foam injection molding will pave the way for humungous expansion of the market globally.

Plastic Injection Molding Machine Market: Challenges

Availability of apt alternatives can prove to be a big deterrence in the growth path of the industry globally

Easy access to substitute products such as urethane casting, 3D printing, and thermoforming can obstruct the expansion of the global plastic injection molding machine industry.  A rise in raw material prices can pose a huge challenge to the growth of the industry across the globe.

Plastic Injection Molding Machine Market: Segmentation

The global plastic injection molding machine market is sectored into technology, end-user, clamping force, and region.                                         

In technology terms, the plastic injection molding machine market across the globe is segregated into hydraulic, hybrid, and all-electric segments. Furthermore, the hydraulic segment, which acquired nearly 47% of the global market earnings in 2023, is slated to record the highest gains in the upcoming years. The progression of the segment from 2024 to 2032 can be attributed to the ability of automotive firms to produce plastic injection molding machine components in large quantities through economies of scale by using hydraulic technology. Moreover, hydraulic technology is inexpensive and finds lucrative applications in marine, automotive, and aerospace sectors.

Based on the end-user, the global plastic injection molding machine industry is sectored into construction, packaging, electronics, and automotive segments. Additionally, the automotive segment, which gathered a lucrative share of the global industry in 2023, is forecast to lead the segmental space in the coming eight years. The segmental progression from 2024 to 2032 can be due to the rise in the use of plastic injection molding machines for manufacturing complicated components of vehicles. Reportedly, these machines are utilized for manufacturing bumpers, exterior body panels, dashboards, and electrical housings of vehicles.

Based on the changing force, the global plastic injection molding machine market is divided into 0-200, 201-500, and more than 500 sectors.

Plastic Injection Molding Machine Market: Report Scope

Plastic Injection Molding Machine Market: Regional Insights

Asia-Pacific is predicted to maintain the leading position in the global plastic injection molding machine market in the upcoming years

Asia-Pacific, which accounted for nearly 75% of the global plastic injection molding machine market revenue in 2023, is likely to be a dominant region in the coming eight years. In addition to this, the regional market growth over the forecast timeline can be credited to the availability of strong infrastructure facilities in countries such as India, Japan, China, Taiwan, Malaysia, South Korea, and Singapore. Apart from this, the rise in the construction of residential & commercial buildings will provide a huge impetus to the expansion of the market in the region.

North American plastic injection molding machine industry is set to register the fastest CAGR in the forecast timeframe. The expansion of the industry in the sub-continent can be due to the large-scale use of the product in packaging caps & closures, containers, covers, and bottles. The flourishing packaging sector along with a surge in the use of products in the packaging of consumer goods is expected to steer the growth of the industry in the sub-continent.

Key Developments

• In the second half of 2020, Eck Plastic Arts, a manufacturer of plastic parts for OEMs, expanded plastic injection molding capacity through the launch of Haitian 1,012-ton Mars II S injection molding equipment.  The firm fulfills the requirements of industrial equipment manufacturers who provide services to medical and defense segments.
• In the last quarter of 2020, Sumitomo Heavy Industries Limited introduced five kinds of SEEV-A-SHR models having clamping force of about 1800, 1000, 4500, 1300, and 3500 kN. The move will boost the growth of the global plastic injection molding machine industry.

Plastic Injection Molding Machine Market: Competitive Space

The global plastic injection molding machine market profiles key players such as:

• NISSEI PLASTIC INDUSTRIAL CO LTD.
• ENGEL AUSTRIA GmbH
• Arburg GmbH + Co KG
• Husky Technologies
• HAITIAN INTERNATIONAL
• UBE Machinery Inc.
• Krauss Maffei
• Milacron
• Hsong Holdings Limited
• WITTMANN Technology GmbH.

The global plastic injection molding machine market is segmented as follows:

By Technology

• Hydraulic
• Hybrid
• All-Electric

By End-User

• Construction
• Packaging
• Electronics
• Automotive

By Clamping Force

• 0-200
• 201-500
• More than 500

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa