Injection Molding Market Will Reach USD 390.0 Billion By 2030 : Greyviews

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Pune India, Jan. 28, 2023 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the injection molding market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the injection molding market are present across various countries in the above-mentioned regions.

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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the material, technology, application, and region. Apart from this, the key driving factors, restraints, potential growth opportunities, and market challenges are also discussed in the below paragraphs.

The significant players operating in the global injection molding market are Berry Global Inc, Silgan Holdings Inc., AptarGroup, Inc., Amcor PLC, and ALPLA. among others. To achieve a substantial market share in the worldwide injection molding market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.

It is projected that there would be an increase in demand for the mass production of thousands of identical components at reduced prices, together with design flexibility and precision, particularly from a variety of end-user industries like packaging, medicine, and electronics. The world's economic recovery has been threatened by the omicron strain's sudden increase in 2021. A lockdown could be imposed and the supply chain could be disrupted because of the high transmissibility and ability to infect persons who have received immunizations. Additionally, to safeguard themselves against upcoming disruptions that are projected to raise market demand, countries like China, India, and South Korea are focusing on boosting domestic production. The COVID-19 outbreak caused a transformation in the U.S. injection molding market as the participants boosted their capacity to meet the escalating market needs. Medical equipment demand, rising healthcare spending, and an increase in manufacturers utilizing medical injection molding technologies are all anticipated to positively affect growth. Mass production, bridge tooling, and prototype development are the three key procedures in injection molding services. Prototypes are necessary for the fabrication of parts in order to assess the shape and form of the components prior to moving forward with their manufacturing with the actual designs.

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Scope of Injection Molding Market Report

Report Metric	Information
Study Period	2022-2030
Base Year	2022
Forecast Period	2023-2030
Market Share Unit	USD Billion
Segments Covered	Material, Technology, Application, and Regions
Regions Covered	North America, Europe, Asia-Pacific, South America, and Middle-East and Africa
Major Players	Berry Global Inc, Silgan Holdings Inc., AptarGroup, Inc., Amcor PLC, and ALPLA. among others

Segmentation Analysis

The plastics segment is expected to be the fastest-growing segment in 2022.

The material segment is metals, plastics, and others. The plastics segment is expected to witness the highest growth rate during the forecast period. Because plastic offers a low-cost technology ideal for high-volume production runs, applications that demand design homogeneity, and applications that need precise tolerances. Recent developments have encouraged the mass manufacture of intricate plastic shapes in order to lower the rate of defective production, particularly in packaging, consumer goods, and construction, boosting industrial growth. Injection moulding requires more plastic polymers as a result of properties including high tensile strength, higher metal tolerance, and high-temperature endurance. These resins also enable a decrease in manufacturing waste, product weight, and overall manufacturing costs, which promotes industry development.

The electric segment is expected to be the fastest-growing segment in 2022.

The technology segment is electric, hydraulic, and hybrid. The electric segment is expected to witness the highest growth rate during the forecast period. The electric machine is quicker to start up, utilizes energy only when it is moving, and is energy-efficient. These machines operate digitally, therefore a speedy process can be accomplished without monitoring. Since the electric portion has incredibly accurate control and monitoring mechanisms, the molding state may be stabilized. As a result, the electric injection molding market is able to be digitally controlled, run at a high speed, and be more productive throughout the entire manufacturing process. The independent motors regulate the entire process from injection to extruder to clamping and ejection. This machine generates less scrap during startup.

The packaging segment is expected to be the fastest-growing segment in 2022.

The application segment is building & construction, packaging, medical, consumables & electronics, automotive & transportation, and others. The packaging segment is expected to witness the highest growth rate during the forecast period. The packaging industry's increasing need for injection molding is influenced by a variety of reasons, including changing consumer preferences, sustainability, and the expansion of e-commerce. The need for packaging services is also increasing as a result of growing investments in the pharmaceutical, personal care, and food processing sectors. The growth of smartphones, artificial intelligence, and voice recognition technologies, as well as the existence of technology-driven organizations, are predicted to have a substantial impact on the development of the injection molding market. It is projected that rising demand for connections, plug connectors, sensors, electronic components, and other electronics will fuel the expansion.

Regional Analysis

The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the injection molding include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.

• The Asia Pacific region witnessed a major share. Due to the sizeable investments made by the governments of various countries in the region in the growth of residential construction and the development of public infrastructure.

Country Analysis

• Germany

Germany's injection molding market size was valued at USD 0.75 billion in 2022 and is expected to reach USD 1.19 billion by 2030, at a CAGR of 6% from 2023 to 2030. Due to technological advancements, an increase in investment stimulus, and the promotion of technology across a range of end-use industries, including packaging, autos, and medicine. As end-user demand for intelligent packaging that is recyclable and sustainable rises, positive development is projected.

• China

China's injection molding market size was valued at USD 0.78 billion in 2022 and is expected to reach USD 1.26 billion by 2030, at a CAGR of 6.2% from 2023 to 2030. The significant advancements in the residential and commercial construction sectors have aided China's economy's expansion. The housing administration of Hong Kong in China launched a variety of steps to hasten the construction of affordable housing. The government wants to have 301,000 public housing units accessible by 2030. With a CAGR of almost 6.8%, it is predicted that the Chinese packaging market will grow dramatically by 2025 and reach CNY 2 trillion (or USD 282.11 billion). This promising momentum in the packaging industry is expected to spark demand for injection molding across the nation.

• India

India's injection molding market size was valued at USD 0.60 billion in 2022 and is expected to reach USD 0.96 billion by 2030, at a CAGR of 6.1% from 2023 to 2030. The second-largest industry in India is construction, which contributes 9% to the country's GDP. The construction sector had significant growth in 2021 as a result of rising end-user spending and intensifying government programs for the building industry's rehabilitation following COVID-19. The Indian construction sector is anticipated to reach USD 1 trillion by 2030, making it the third-largest market in the world. The Indian government also expects the market for pharmaceutical products to reach USD 130 billion by 2030. India has exported pharmaceutical items to more than 200 nations, and this trend may continue in the future. ​
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.

Furthermore, the growth of the injection molding market is mainly driven by the rise in healthcare sector..

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GreyViews
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