The global Plastic Injection Molding Machine Market size is expected to reach USD 11.73 Billion in 2028 registering a CAGR of 3.1% over the forecast period. The major driving factor behind this growth is the increasing demand for plastic injection molding machines from the packaging, medical, and electronics sectors, along with the rising need for replacements in the automotive industry.
Plastic injection molding machines are used to create pieces by pumping molten materials into a mold. Injection molding is a crucial part of the plastic processing industry, as it is a good way to mass produce complex shapes. The most widely utilized materials are metals (also known as die-casting), glasses, elastomers, and confections, with thermoplastic and thermosetting polymers being the most common. Injection molding machines can produce a wide range of product sizes, from the smallest component to the full car body. Injection molding is the most widely used modern way of producing plastic parts.
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Some of the top companies operating in the market include:
- Ferromatik Milacron India
- JH-Welltec Machines
- Arburg GmbH Co.
- Haitian International Holdings Limited
- Chen Hsong Holdings Limited
- Milacron Holdings Corp.
- Nissei Plastic Industrial Co. Limited
- Husky Injection Molding Systems Ltd.
The Notable Innovation of Plastic Injection Molding Machine Market:
These innovations are primarily aimed at improving the efficiency, reliability, and sustainability of injection molding machines.
One of the most significant innovations in this field is the development of electric injection molding machines. Unlike traditional hydraulic machines, electric machines are more energy-efficient, precise, and reusable. They also require less maintenance and have a lower risk of fluid leakage or misting, which decreases the risk of material and surface contamination.
Another notable innovation in the plastic injection molding machine market is the use of servo motors. These motors offer faster injection speeds, precise control, and increased repeatability, leading to improved production efficiency and reduced cycle times.
Manufacturers are also increasingly using advanced materials and coatings to enhance the durability and performance of injection molding machines. For instance, some machines now use specially designed coatings to reduce wear and tear, while others incorporate advanced polymers to improve strength and toughness.
The Key Factors of Plastic Injection Molding Machine Market:
- Increasing demand from the packaging, medical, and electronics sectors is driving market growth for plastic injection molding machines.
- The need for replacements in the automotive industry is also a major factor driving demand for plastic injection molding machines.
- Plastic injection molding is an important part of the plastic processing industry, allowing for mass production of complex shapes.
- Thermoplastic and thermosetting polymers are the most commonly used materials in injection molding machines, but metals, glasses, elastomers, and confections are also utilized.
- Electric injection molding machines are becoming more popular due to their numerous benefits, including energy savings, enhanced precision and reusability, inexpensive maintenance, and high speed.
- Electric injection molding machines are more efficient, reliable, and cost-effective than hydraulic machines and can save up to 70% of energy compared to traditional hydraulic machines.
- All-electric injection molding machines offer additional advantages, such as improved repeatability, decreased noise, and superior acceleration performance.
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