The report “Injection Molding Machine Market by Machine Type (Hydraulic, All-electric, and Hybrid), Clamping Force (0-200, 201-500 and Above 500), Product Type (Plastic, Rubber, Metals), End-Use Industry (Automotive, Packaging) and Region – Global Forecast to 2027″, Injection molding machine market size is projected to reach USD 12.4 billion by 2027 from USD 10.4 billion in 2022 growing at a CAGR of 3.6%.
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• 275 Market data Tables
• 56 Figures
• 290 Pages and in-depth TOC on “Injection Molding Machine Market – Global Forecast to 2027″
Some of the prominent key players are:
- Haitian International Holdings Limited (China)
- Sumitomo Heavy Industries Limited (Japan)
- The Japan Steel Works Ltd. (Japan)
- Chen Hsong Holdings Limited (China)
- Hillenbrand, Inc. (U.S.)
Opportunities: Demand from the healthcare industry
The demand for injection molding machines is growing significantly in the healthcare industry, which is mainly driven by their use in products such as drug-delivery systems for respiratory care and diabetes and improved blood-glucose test strips. These products offer mobility and convenience to the aging population. Injection molding is generally used to manufacture medical parts in large quantities with consistency. The use of injection molding process helps develop lightweight, durable, and cost-effective medical devices. The injection molding machine market in the healthcare industry is expected to grow, owing to the increased use of disposableand durable medical products. Although injection-molded disposable products are majorly used in hospitals, they are also used in over-the-counter products such as permethrin, pyrethrins, and piperonyl butoxide shampoo. The growing demand from the healthcare industry offers opportunities for injection molding machine manufacturers
Healthcare is projected to be the fastest growing end-use industry in injection molding machine market between 2022 and 2027
Since injection molding machines offer high precision and accuracy for complex injection molded parts, these machies are preferred for manufacturing medical products. Due to the outbreak of coronavirus across the globe, the demand for medical equipments witnessed an explosive surge, driving the market for injection molding machines in healthcare industry. In addition, the technological advancements in the medical industry towards micro parts is further fuelig the demad for high precision molded parts.
Asia Pacific projected to be fastest growing region for the injection molding machine market during the forecast period
Asia Pacific region is offering lucrative opportunities for the growth of the injection molding machine market. Growing economies like China, India, Thailand and Vietnam are offering favourable investment opportunities in major end-use industries like automotive, healthcare, electronics and consumer goods. Rise in population in the region is driving the domestic demand for all these sectors, fueling the injection molding machine market.
