Plastic Injection Molding Machine Market To Reach $17.1 Billion By 2030

Plastic Injection Molding Machine Market Growth & Trends

The global plastic injection molding machine market size is anticipated to reach USD 17.1 billion by 2030, growing at a CAGR of 4.8% from 2023 to 2030, according to a new report by Grand View Research, Inc. The increasing adoption of plastic injection molding machines in the automotive, electronics, and packaging industries is likely to be the key driver for the growth of the industry over the forecast period.

Plastic injection molding is suitable for producing various exterior automotive components such as mudguards, door panels, wheel arches, grilles, trunk trims, front and rear covers, and outside car door trims. Automotive injection molding is an important manufacturing process in the automotive industry, where safety, consistency, and quality are critical.

The automobile end-use category accounts for a sizable portion of the injection molding machine market. A variety of automobile parts, such as outer body panels, bumpers, spoilers, dashboards, and electrical housings, are made using plastic injection molding machines. Many automotive interior parts are manufactured using plastic injection molding as well as the instrumentation components, interior surfaces, glove boxes, dashboard faceplates, air vents, and other items. Rapid growth in demand for automotive components has boosted global automobile production, resulting in a high demand for injection-molded parts in the automotive industry.

Plastic injection molding is utilized for the formation of plastic packaging for a variety of applications and in a variety of forms. The injection method is used to manufacture food and beverage containers, creatively designed body care packaging, and even packaging for household chemicals. The plastic injection molding technique solves problems related to barrier protection, handling, product visibility, salability, and aesthetics.

The packaging industry occupies a major part of the plastic injection molding material industry. The manufacturing process of dairy juice & water packaging, thin wall containers, beverage caps & closures, and specialty closures are a few applications for plastic injection molding in the market. Over the forecast period, an increase in the use of packaging products in the healthcare, cosmetics, personal care, and consumer goods industries is anticipated to drive the growth of the packaging market.

Manufacturers of plastic injection molding machines are looking for product launches, mergers & acquisitions, and expansions to develop new products. For instance, in February 2023, Engel shipped 8000-ton dual combi machines to Advanced Drainage Systems' subsidiary Infiltrator Water Technologies in Winchester, Kentucky, making them the two largest injection moldings it has ever produced for the U.S.

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Plastic Injection Molding Machine Market Report Highlights

• Based on technology, the hydraulic segment led the market with the largest revenue share of 52.5% in 2022. The automotive industry is expected to have a high demand for hydraulic technology because manufacturing large & heavy parts requires a strong clamping force. In fields like aerospace, defense, and marine, hydraulic plastic molding machines are frequently used to manufacture heavy parts

• Based on technology, the electric segment is anticipated to grow at the fastest CAGR of 5.5% from 2023 to 2030. Electric plastic injection molding machines are highly efficient and require less start-up time and run-time compared to hydraulic injection molding machines. Electric plastic injection molding machines use 50% to 75% less energy on average than their hydraulic equivalents because they are tighter, faster, cleaner, and have a repeatable process production equipment with little waste

• In terms of end-use, the automotive segment led the market with the largest revenue share of 29.2% in 2022 owing to factors such as material compatibility, high precision, repeatability, and surface finish. Furthermore, increasing demand for lightweight automotive components and rising automotive production are expected to propel market growth

• In terms of end-use, the electronics segment is anticipated to grow at a significant CAGR of 5.6% over the forecast period. Electronics is one of the fastest-growing segments considering the wide application scope of plastic injection molding machines in the manufacture of smartphones, tablets, laptops, connectors, and sensors. These parts require high levels of accuracy and quality. The injection molding machine fulfills all the requirements and thus finds a variety of applications in the electronics industry

• In terms of end-use, the medical segment is anticipated to grow at the fastest CAGR of 5.9% over the forecast period. Plastic injection molding is used in the medical industry for manufacturing small and complex items such as dental implants, prosthetic replacements, endoscopic tools, tweezers, scissors, implantable components, orthopedics, and drug delivery equipment

• In terms of region, the Asia Pacific region dominated the market in 2022 with the largest share of 38.7% in terms of revenue owing to the massive investments by the governments of different countries in the region for the development of public infrastructure and expansion of residential construction

Plastic Injection Molding Machine Market Segmentation

Grand View Research has segmented the global plastic injection molding machine market based on technology, end-use, and region:

Plastic Injection Molding Machine Technology Outlook (Revenue, USD Billion, 2018 - 2030)

• Hydraulic

• Electric

• Hybrid

Plastic Injection Molding Machine End-use Outlook (Revenue, USD Billion, 2018 - 2030)

• Automotive

• Consumer Goods

• Packaging

• Electronics

• Construction

• Medical

• Others

Plastic Injection Molding Machine Regional Outlook (Revenue, USD Billion, 2018 - 2030)

• North America

• U.S.

• Canada

• Mexico

• Europe

• Germany

• France

• Italy

• UK

• Asia Pacific

• China

• India

• Japan

• Australia

• Central & South America

• Brazil

• Argentina

• Middle East & Africa

• Saudi Arabia

• South Africa

List of Key Players in the Plastic Injection Molding Machine Market

• Arburg GmbH + Co KG

• HAITIAN INTERNATIONAL

• KraussMaffei

• Milacron

• NISSEI PLASTIC INDUSTRIAL CO., LTD.

• ENGEL AUSTRIA GmbH

• Chen Hsong Holdings Limited

• UBE Machinery Inc.

• Husky Technologies

• WITTMANN Technology GmbH