Global Plastic Injection Molding Market Growth 2024-2030
Plastic Injection Molding market size was valued at US$ 32270 million in 2023 and is estimated to reach US$ 43200 million by 2030 with a CAGR of 4.3% during review period.
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According to Publisher’s latest study, the global Plastic Injection Molding market size was valued at US$ 32270 million in 2023. With growing demand in downstream market, the Plastic Injection Molding is forecast to a readjusted size of US$ 43200 million by 2030 with a CAGR of 4.3% during review period.
Market Overview
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A Bonafide Research industry report provides in-depth market analysis, trends, competitive insights, and strategic recommendations to help businesses make informed decisions.
The research report highlights the growth potential of the global Plastic Injection Molding market. Plastic Injection Molding are expected to show stable growth in the future market. However, product differentiation, reducing costs, and supply chain optimization remain crucial for the widespread adoption of Plastic Injection Molding. Market players need to invest in research and development, forge strategic partnerships, and align their offerings with evolving consumer preferences to capitalize on the immense opportunities presented by the Plastic Injection Molding market.
Plastic injection molding is an extremely versatile method of mass production, and it has numerous benefits that make it an invaluable tool for creating working prototypes at scale. For the medical industry, the range of benefits for plastic injection molding are far-reaching.
In today’s day and age, medical technology is advancing at an enormous rate. With this rapid increase comes a need for companies to match this rapid growth in complexity of design as well. With these advances have come intricately designed machines and tools such as pacemakers, imaging machines, and surgical tools, all of which need prototypes for testing and monitoring. Due to the extremely high pressure used in the process, plastic injection molding allows for a large amount of detail within the cast.
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Manmayi Raval
Research Consultant
Once the designs and injection mold model are created and the presses are pre-programmed, the actual process of plastic injection molding is faster than other methods. With a high production output rate, ability to craft complex designs, and an ease of creation of the initial mold, plastic injection molding is a wonderfully efficient manufacturing option that can help us pave the way to the future of medical technology.
Key Features:
Market Drivers: Growing End-Use Industry Demand: One of the main factors propelling the plastic injection molding market is the rising need for plastic components in the consumer goods, automotive, electronics, packaging, and medical industries.
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Developments in Molding Technologies: Plastic injection molding is becoming more capable and efficient thanks to advancements in molding technologies including 3D printing, multi-component molding, and micro-injection molding.
Efficiency and Cost-Effectiveness: Injection molding is a preferred method of manufacturing due to its rapid production rates, precision in producing complex shapes, and affordability.
Sustainability Trends: The use of eco-friendly injection molding techniques is being driven by the growing emphasis on sustainability and the usage of recycled and biodegradable plastics.
Fast Urbanization and Industrialization: These two factors are driving up demand for plastic products and, as a result, plastic injection molding, especially in emerging economies.
Technological Integration: By incorporating cutting-edge technology like automation, robots, and the Internet of Things into injection molding operations, productivity is increased, labor costs are decreased, and product quality is improved.
Challenges: Environmental Concerns: The sector has many obstacles due to the environmental effects of plastic manufacture and waste management, necessitating investments in sustainable materials and procedures.
High Initial Costs: For small and medium-sized businesses in particular, the high initial costs of sophisticated injection molding equipment and molds can be a deterrent to market expansion.
Complexity of Design and Manufacturing: Creating and producing high-precision molds involves a great deal of skill and money.
Variable Raw Material Prices: Production costs and profitability may be impacted by swings in the price of raw materials, such as plastics derived from petroleum.
Regulatory Compliance: It can be difficult for producers to navigate the complicated regulatory framework for plastic products, which includes safety, quality, and environmental criteria.
Market Forecasts and Future Outlook: From 2024 to 2030, the global plastic injection molding market is anticipated to expand rapidly due to rising demand from a variety of end-use sectors, developments in molding technologies, and an increased focus on sustainability. Sustained growth will need addressing issues like high starting costs and environmental concerns. There are plenty of chances in this sector to innovate, grow into new markets, and create eco-friendly and sustainable products.
Opportunities: Eco-Friendly and Sustainable Materials: Developing eco-friendly and sustainable materials, such bioplastics and recycled plastics, can draw in customers who care about the environment and meet legal requirements.
Entry into Emerging Markets: There is a lot of room for growth when entering emerging markets, where there is a rising demand for plastic products and an increase in industrial activity.
Technological Innovations: The performance and capacities of plastic injection molding can be improved by utilizing advances in molding technology, such as multi-material and micro-injection molding.
Emphasis on Personalization and Customization: Creating plastic components that are personalized and customizable to meet particular client needs can improve both customer satisfaction and market distinctiveness.
Strategic Alliances: Establishing alliances with suppliers of raw materials, technological companies, and final consumers can improve market share and spur innovation.
Improved Aftermarket Services: Long-term market growth and customer happiness can be increased by providing full aftermarket services, which include maintenance, repairs, and technical support.
Market Segmentation:
Plastic Injection Molding market is split by Type and by Application. For the period 2019-2030, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value.
1. Segmentation by type
• Drug Delivery Products
• Diagnostic Drug Test Kits
• Package and Container
• Surgical Consumables
• Others
2. Segmentation by application
• Hospitals
• Clinics
• R & D
Regional Insight: North America: With substantial expenditures in technology, sophisticated production facilities, and robust demand from the electronics and automotive industries, North America dominates the industry. With a strong need for highly precise plastic components, the United States makes a significant contribution.
Europe: Europe is right behind, led by nations like Germany, France, and the United Kingdom. The use of cutting edge injection molding technology is fueled by the region's emphasis on innovation, sustainability, and compliance with regulations.
Asia-Pacific: As a result of its quick industrialization, rising consumer demand, and developing electronics and automotive sectors, this area is predicted to grow at the fastest rate. India, China, and Japan are important markets with significant room for expansion.
Latin America: Economic growth, rising urbanization, and increased investments in the manufacturing and packaging sectors are all contributing to the region's market's steady expansion. The two largest markets are Mexico and Brazil.
Middle East and Africa: Due to economic diversification, urbanization, and rising investments in industrial projects, the Middle East and Africa region offers growth prospects. Notable markets with substantial potential are South Africa and the United Arab Emirates.
North America is the largest market of plastic molding for medical device currently, with a revenue market share of 40%. The second place is Europe, following North America with the revenue market share of 21%. Asia Pacific is the third largest market of plastic molding for medical device.
1. Americas
• United States
• Canada
• Mexico
• Brazil
2. APAC
• China
• Japan
• Korea
• Southeast Asia
• India
• Australia
3. Europe
• Germany
• France
• UK
• Italy
• Russia
4. Middle East & Africa
• Egypt
• South Africa
• Israel
• Turkey
• GCC Countries
Competitive Landscape: BD, Teleflex, BBRAUN, Terumo and Edwards are the top 5 players of Plastic Injection Molding, with about 23% market shares.
The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
• BD
• Teleflex
• BBRAUN
• Terumo
• Edwards
• C. R. Bard
• Flextronics
• Smith's Medical
• Wego
• Phillips Medisize
• Nipro
• ICU
• Boston Scientific
• SMC Plastics Ltd.
• C&J Industries
• Eastek International
• Kindly
• Merit Medical
• JunoPacific Inc.
• Freudenberg
• QFC Plastics
• PCE Inc
• Spectrum Plastics Group, Inc
• Electroplast
Table of Contents
1 Scope of the Report
1.1 Market Introduction
1.2 Years Considered
1.3 Research Objectives
1.4 Market Research Methodology
1.5 Research Process and Data Source
1.6 Economic Indicators
1.7 Currency Considered
1.8 Market Estimation Caveats
2 Executive Summary
2.1 World Market Overview
2.1.1 Global Plastic Injection Molding Annual Sales 2019-2030
2.1.2 World Current & Future Analysis for Plastic Injection Molding by Geographic Region, 2019, 2023 & 2030
2.1.3 World Current & Future Analysis for Plastic Injection Molding by Country/Region, 2019, 2023 & 2030
2.2 Plastic Injection Molding Segment by Type
2.2.1 Drug Delivery Products
2.2.2 Diagnostic Drug Test Kits
2.2.3 Package and Container
2.2.4 Surgical Consumables
2.2.5 Others
2.3 Plastic Injection Molding Sales by Type
2.3.1 Global Plastic Injection Molding Sales Market Share by Type (2019-2024)
2.3.2 Global Plastic Injection Molding Revenue and Market Share by Type (2019-2024)
2.3.3 Global Plastic Injection Molding Sale Price by Type (2019-2024)
2.4 Plastic Injection Molding Segment by Application
2.4.1 Hospitals
2.4.2 Clinics
2.4.3 R & D
2.5 Plastic Injection Molding Sales by Application
2.5.1 Global Plastic Injection Molding Sale Market Share by Application (2019-2024)
2.5.2 Global Plastic Injection Molding Revenue and Market Share by Application (2019-2024)
2.5.3 Global Plastic Injection Molding Sale Price by Application (2019-2024)
3 Global Plastic Injection Molding by Company
3.1 Global Plastic Injection Molding Breakdown Data by Company
3.1.1 Global Plastic Injection Molding Annual Sales by Company (2019-2024)
3.1.2 Global Plastic Injection Molding Sales Market Share by Company (2019-2024)
3.2 Global Plastic Injection Molding Annual Revenue by Company (2019-2024)
3.2.1 Global Plastic Injection Molding Revenue by Company (2019-2024)
3.2.2 Global Plastic Injection Molding Revenue Market Share by Company (2019-2024)
3.3 Global Plastic Injection Molding Sale Price by Company
3.4 Key Manufacturers Plastic Injection Molding Producing Area Distribution, Sales Area, Product Type
3.4.1 Key Manufacturers Plastic Injection Molding Product Location Distribution
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