Plastic Injection Molding Machine Market Size, Share, Industry, Forecast and outlook (2024-2031)

Global Plastic Injection Molding Machine Market is Segmented By Machine Type(Hydraulic, All-Electric, Hybrid), By Clamping Force(0-200 Tons Force, 201-500 Tons Force, Above 500 Tons Force), By End-User(Automotive, Consumer Goods, Packaging, Healthcare, Electricals & Electronics, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031

Plastic Injection Molding Machine Market Overview

The Global Plastic Injection Molding Machine Market reached USD 8.2 billion in 2022 and is expected to reach USD 11.2 billion by 2030, growing with a CAGR of 4.0% during the forecast period 2024-2031. The electronics industry is one of the key sources of demand in the upcoming years. Electronics manufacturing, which suffered due to a semiconductor shortage in the aftermath of the pandemic, is expected to make a strong recovery. 

The Global Plastic Injection Molding Machine Market trends are expected to be highly positive during the forecast period. The rising demand and production of electric vehicles (EVs) are mainly if fueling the growth of the plastic injection molding machine market as automakers are increasingly using plastic components to reduce vehicle weight and extend battery mileage.

During the forecast period, the increasing usage of recycled and bioplastics will drive the demand for plastic injection molding machines, especially by manufacturers shifting towards sustainable manufacturing practices. In July 2022, Green Dot Bioplastics, a U.S.-based bioplastics developer, launched a new line of nine compostable resins for various injection molding applications. 

Plastic Injection Molding Machine Market Scope

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Plastic Injection Molding Machine Market Dynamics

Increasing Industrialization of Emerging Economies

Emerging economies, particularly in Asia-Pacific and Latin America, are experiencing rapid industrialization and infrastructure development. It has led to a surge in manufacturing activities across various industries, such as automotive, consumer goods, packaging, and electronics. The industrialization of emerging economies has prompted a shift towards local manufacturing to reduce costs, promote domestic industries, and create employment opportunities. 

Plastic injection molding machinery allows local manufacturers to produce plastic components in-house, reducing import dependence and promoting domestic production capabilities. As emerging economies become manufacturing hubs, they cater to domestic demand and export products to global markets. The industrialization of emerging economies is a key driver of global plastic injection molding machine market growth.

High Capital Investment

The initial investment required for purchasing and setting up plastic injection molding machines can be significant, especially for small and medium-sized enterprises (SMEs). Furthermore, the devices require skilled technicians for operation, further driving up the cost of operation. The workforce needs to be well-versed in the process and maintenance of the machinery. 

Technical diploma-level education is required to grasp the fundamentals of the machinery. The machines also require periodic maintenance according to exacting manufacturer standards, increasing costs. The cost of the devices, molds, auxiliary equipment and other infrastructure needed can pose a barrier to entry for small and medium-scale manufacturers as they struggle to raise the required capital. 

Plastic Injection Molding Machine Market Segment Analysis

The Global Plastic Injection Molding Machine Market is segmented based on machine type, clamping force, end-user and region.

Increasing Global Demand Gives Consumer Goods A Major Share In The Global Market

Consumer goods occupy a share of nearly 28% in the end-user segment of the global plastic injection molding machine market. The consumer goods segment covers various products, including household appliances, electronic devices, toys, kitchenware, packaging materials, and personal care items. Most modern-day consumer goods are manufactured with plastic since it is a durable, versatile and economical material.

Plastic injection molding machines manufacture plastic parts and components for these products, such as casings, housings, handles, buttons, closures, and containers. Plastic injection molding machines offer high design flexibility, allowing manufacturers to produce intricate and customized plastic parts. In the consumer goods industry, where aesthetics and design play a vital role, injection molding enables the production of complex shapes, textures, and colors that meet consumer preferences. 

Source: DataM Intelligence Analysis (2023)

Global Plastic Injection Molding Machine Market Geographical Penetration

A Strong Manufacturing Base Helps To Propel Market Growth In Asia-Pacific 

Asia-Pacific accounts for nearly 44% share in the Global Plastic Injection Molding Machine Market. Asia-Pacific has emerged as a major global manufacturing hub in recent years. With economic liberalization and free trade agreements, many multinational companies began to outsource production to developing countries in the region. It has allowed countries such as China, Vietnam, Thailand and India to emerge as major manufacturing centers. 

The automotive industry in countries like Japan, South Korea, and China is one of the largest plastic injection molded components consumers. Additionally, the region has a growing electronics industry and a significant consumer goods market. Industries require plastic parts for various products, including appliances, electronics, toys, and packaging.

The Asia-Pacific region has a rapidly expanding middle-class population with increasing disposable incomes. The demographic shift leads to higher consumer spending on various products, including consumer goods and electronics. Growing local demand has led to an increase in production by companies, which has in turn, increased demand for plastic injection molding machines in the market. 

Source: DataM Intelligence Analysis (2023)

Plastic Injection Molding Machine Market Key Players

The major global players include Haitian International Holdings Limited, Sumitomo Heavy Industries, Ltd, The Japan Steel Works, LTD, Chen Hsong Holdings Limited, ENGEL AUSTRIA GmbH, ARBURG GmbH + Co. KG, Nissei Plastic Industrial Co. Ltd, Coperion GmBH, Husky Technologies and KraussMaffei Group GmBH.
 

COVID-19 Impact on Plastic Injection Molding Machine Market

COVID-19 Impact

The COVID-19 pandemic disrupted global supply chains and manufacturing operations, including the plastic injection molding industry. Lockdown measures, travel restrictions, and workforce shortages affected production and logistics, leading to delays and disruptions in the supply of raw materials, equipment and finished products. It also created shortfalls in investment and capital expenditure on research and development of new products. 

However, the pandemic also highlighted the importance of plastic products, particularly in the healthcare sector for medical equipment, disposable medical tools and personal protective gear. As a result, there was an increased demand for various plastic injection molded products from the healthcare and pharmaceutical industries during the pandemic period.

AI Impact

AI is transforming the plastic injection molding industry by optimizing production processes, improving quality control, and enhancing operational efficiency. AI-powered systems can analyze real-time data from sensors, machines, and production lines to identify patterns, predict maintenance requirements, and optimize settings for improved productivity. 

AI algorithms can also enhance product design and simulation, reducing the time and cost associated with prototyping. Furthermore, AI-enabled quality control systems can identify defects, reduce waste, and improve the overall quality of injection molded products. The integration of AI technologies in the plastic injection molding market can lead to increased productivity, cost savings, and improved product quality.

Ukraine-Russia War Impact

The Ukraine-Russia war has geopolitical and economic implications that can indirectly affect the global plastic injection molding market. The conflict has disrupted regional supply chains, affecting the availability of raw materials, components and equipment. Europe, which manufactures many injection molding machines, witnessed a sharp rise in production costs due to increased energy prices. 

Moreover, fluctuations in currency exchange rates of major manufacturing economies have influenced the pricing and competitiveness of plastic injection molded products in the global market. The long-term impact on the plastic injection molding market will depend on the duration and intensity of the conflict and the region's geopolitical developments.

By Machine Type

• Hydraulic
• All-Electric
• Hybrid

By Clamping Force

• 0-200 Tons Force
• 200-500 Tons Force
• Above 500 Tons Force

By End-User

• Automotive
• Consumer Goods
• Packaging
• Healthcare
• Electricals & Electronics
• Others

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • The UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
• Middle East and Africa

Key Developments

• In February 2023, Engel, an Austrian company specializing in making injection molding machinery, announced that it had delivered two large 8000-ton capacity injection molding machines to an unmanned client in Winchester, Kentucky, U.S. 
• In May 2023, KraussMaffei GmBH, a German industrial machines manufacturer, announced that it was providing extra paid features on its CX series of injection molding machines for free on account of the company’s 185th anniversary. 
• In November 2022, Shibaura Machine India Private Limited (SMI), the Indian subsidiary of the Japanese industrial machinery maker Shibaura Machine, announced that it was investing ₹225 crore (USD 27.2 million) in expanding its plastic injection molding machine production facility in Chennai, India. The expansion will allow the company to cater to increasing demand from the Indian market. 

Why Purchase the Report?

• To visualize the Global Plastic Injection Molding Machine Market segmentation based on machine type, clamping force, end-user and region and understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development. 
• Excel data sheet with numerous plastic injection molding machine market-level data points with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The Global Plastic Injection Molding Machine Market Report Would Provide Approximately 57 Tables, 60 Figures And 192 Pages.

Target Audience 2023

• End-User Companies
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies