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plastic-injection-molding-machines-market-booming-companies-to-reach-12-7-billion-in-2030-growing-at-a-cagr-of-4-9
Plastic Injection Molding Machines Market Size, Share, Competitive Landscape and Trend Analysis Report by Material, Application 2030
WILMINGTON, DELAWARE, UNITED STATES, May 29, 2024 /EINPresswire.com/ — Predetermination of Growth –
Injection molding machines are used for making highly precise plastic components. Injection molding machine is an ideal solution for manufacturing large volumes of plastic and rubber products. The growth of the global plastic injection molding machines market is driven by surge in demand for plastic products and rubber products among end users, such as consumer goods, automotive, toy making, and packaging applications, across the world.
The global plastic injection molding machines market was valued at $8.3 billion in 2020, and is projected to reach $12.7 billion in 2030, growing at a CAGR of 4.9%. The Asia-Pacific segment accounted for around 49.5% of the global injection molding machines market share in 2020 and is expected to witness significant growth during the forecast period.
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Driving Factors:
Benefits associated with injection molding machines, such as easy to operate, robustness, high quality, and higher manufacturing rates & rapid production, fuel the growth of the global plastic injection molding machines market. In addition, growth in the automotive industry in emerging economies, such as Brazil, Africa, and India, surges the demand for plastic components in various end users, and thus fuels the growth of global plastic injection molding machines market. For instance, the automotive industry in Brazil is projected to grow at 4.5% from 2017 to 2022.
In addition, growth in the packaging industry in various developing countries, such as India, China, Brazil, and others, fuels the growth of the global plastic injection molding machines market. For instance, the packaging industry in India is expected to grow at a rate of 26.7% from 2021 to 2026.
However, cost-effective substitutes, such as 3D printing, thermoforming, urethane casting, and high threat of low volume, are anticipated to restraint for the growth of the global plastic injection molding machines industry.
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Key Segments:
By Material –
Polypropylene
Polyethylene
Thermoplastic Elastomer
Cyclic Olefin Copolymer
Acrylonitrile Butadiene Styrene
Others
By Application –
Packaging
Personal Care
Thinwall Containers
Others
Closures
Medical
Surgery
Pharma
Diagnostics
Medical Equipment
Healthcare Devices
Others
PET Preforms
Automotive
Others
Regional Analysis:
Based on region, the global injection molding machines market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, Spain, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, Indonesia, and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). The Asia-Pacific is expected to dominate the market during the forecast period.
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Top Players:
Niigon Machines Ltd., Bmb S.p.a., Husky Injection Molding Systems Ltd., Hillenbrand Inc. (Milacron Holdings Corp.), The Japan Steel Works, Ltd. (Jsw), Shibaura Machine Co. Ltd, Arburg Gmbh + Co Kg, Nissei Plastic Industrial Co., Ltd., Sumitomo Heavy Industries, Ltd., China National Chemical Corporation Ltd. (Kraussmaffei Group Gmbh), Ube Industries, Ltd., Engel Austria Gmbh, Haitian International Holding Limited
David Correa
Allied Market Research
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May 29, 2024
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