The global plastic injection molding machine market size was $10.3 billion in 2021 and is anticipated to reach $16.4 billion in 2031, growing at a rate of 4.8% from 2022 to 2031.
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A plastic injection molding machine produces a variety of complex plastic products in mass volume. They are available in various sizes and specifications, thus making them appropriate for use in several manufacturing industries. They are used to produce plastic injection-molded products for industries such as food, beverages, electronics & electrical, home care products, healthcare products, and others.
Global Plastic Injection Molding Machine Market Trends and Drivers
The global plastic injection molding machine market is anticipated to observe substantial growth going forward on account of increasing application in food & beverage, healthcare, and other industries. In addition, the rise in population along with the growing disposable income of middle-class customers are projected to drive the demand for healthcare and personal care products. This, in turn, is anticipated to lead to a consequent increase in demand for plastic injection-molded plastic products and thus, the plastic injection molding machines market. In addition, emerging economies are exploring the varied benefits of electric plastic injection molding machines, which are projected to supplement the plastic injection molding machine market demand.
There has been a growth in the plastic injection molding machine market growth, due to its advantages such as the lessened need for labor, high production rate, as well as reduced wastage. Moreover, the capability of the plastic injection molding machine to work with a variety of plastics further intensifies its usability. Moreover, governments globally are focusing on the development of the manufacturing sector in order to increase the global economy. For example, the ‘Made in China 2025’ initiative by the Chinese government and the ‘Make in India’ initiative by the Indian government have positively propelled the manufacturing sector. The upsurge in manufacturing activities has stimulated the demand for a variety of plastic
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components as well as packaging solutions, thus providing remunerative opportunities for the plastic injection molding machine market. Moreover, technological progressions are expected to offer lucrative opportunities for plastic injection molding machine industry market players.
Major Players of the Global Plastic Injection Molding Machine Market
The global plastic injection molding machine market report includes players such as ARBURG, ENGEL, Haitian International, Husky Injection Molding Systems, KraussMaffei Group, Milacron Holdings Corp., Nissei Plastic Industrial Co., Ltd., Sumitomo Heavy Industries, The Japan Steel Works, and UBE Industries, Ltd.
COVID-19 Analysis:
According to the International Monetary Fund (IMF), due to the epidemic of a novel coronavirus, the worldwide economy decreased by over 3.0% in 2020. Several nations were under strict lockdowns in 2020 & 2021, which have impacted the supply of raw materials. Therefore, due to this, the manufacturing activities of plastic film producers have ceased. However, due to COVID-19, there has been a new interest found in the hygiene of the packaging due to heightened safety concerns. Moreover, the period observed an e-commerce boom, thus, augmenting the necessity for well-designed as well as functional plastic injection molding machines which are hygienic and sustainable. Hence, COVID-19 had a mixed effect on the plastic injection molding machine market growth during the forecast period.
Market Segments
By Machine Type
- All-Electric
- Hybrid
- Hydraulic
By Clamping Force
- Less than 200 tons
- 200-500 tons
- More than 500 tons
By Application
- Automotive
- Electronics
- Healthcare
- Packaging
- Others
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