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Injection Molding Market Analysis Report By Materials, Application, Verticals, Companies, Latest Trends, Region, And growth Forecasts, 2030

The global injection molding market size is anticipated to reach USD 397.6 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 4.8% from 2022 to 2030. The market is driven by the rising demand for injection-molded components from various end-user industries since it offers cost-effective and efficient methods for manufacturing high-volume production of parts and products. The market has witnessed growth especially from the medical industry, with the emergence of the COVID-19 pandemic, as this product can offer accuracy, a high range of operation, repeatability, and cleanliness. Furthermore, packaging manufacturers leverage injection molding with robotics to run faster production rates with cost-effectiveness.

Injection Molding Market Report Highlights

·         The plastics segment accounted for a revenue share of 98.3% in 2021 owing to its low cost and suitability for high-volume production runs and applications that require consistency in design and strict tolerances

·         The medical application segment is expected to witness a CAGR of 5.7% from 2022 to 2030 owing to growing accessible treatment for surgical and diagnostic procedures used to prevent, treat, and rehabilitate illness

·         In Asia Pacific, the market is expected to witness a CAGR of 5.5% over the forecast period on account of expanding healthcare infrastructure, automobile, packaging industry coupled with growing research and availability of skilled labor

·         In February 2022, Beacon Medtech Solutions announced a partnership with Sumitomo Demag to increase its molding press capacity to expedite the manufacturing and delivery of precision plastic and silicone components

·         In February 2022, Comar, a medical device and packaging solution provider acquired Automatic Plastics Ltd. Through this acquisition, the company aims to strengthen its presence in the pharmaceutical and medical sectors

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The market has witnessed surged adoption in recent years on account of the manufacturing technology employed for producing complex products. Players incorporate industry 4.0 in their process, thereby optimizing the requirement of raw materials, lowering costs, increasing automation, flexibility among other things. COVID-19 pandemic had caused supply chain disruptions in 2020 resulting in losses for the service providers as demand from various end-user industries was halted. However, with the infusion of economic stimulus packages, manufacturers have adopted automation to shorten production cycle time, thereby increasing productivity and profits.

The demand for plastic injection molding is witnessing significant growth due to high tensile strength and high-temperature endurance that have led to the surged usage of engineering-grade plastic resins for molded products. Moreover, plastic resins enable a reduction in manufacturing waste, product weight, and overall manufacturing costs. Companies providing molding services are engaged in acquiring the latest technologies to meet the changing demands from the medical industries and increase manufacturing capacity. For instance, in August 2021, HTI Plastics installed a new 420-ton injection molding press with an integrated Engel Viper 20 robot to advance its machinery capabilities.

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Injection Molding Market Segmentation

Grand View Research has segmented the global injection molding market on the basis of material, application, and region:

·         Injection Molding Material Outlook (Revenue, USD Million, 2017 - 2030)

·         Injection Molding Application Outlook (Revenue, USD Million, 2017 - 2030)

·         Injection Molding Regional Outlook (Revenue, USD Million, 2017 - 2030)

·         List of Key Players of Injection Molding Market

Research Methodology

Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. We employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecast possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Our market estimates and forecasts are derived through simulation models. A unique model is created customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs).

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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

Grand View Research employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecast possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation that looks market from three different perspectives.

on September 23 at 2:35

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