According to recent market research, the global injection molding machines market is expected to grow at a steady rate, reaching over $14 billion by 2023. The main drivers will be the increasing demand for plastic parts from the electronics, automotive and packaging industries, with a focus on technological advancements and automation. The global injection molding machine market research report show a compound annual growth rate (CAGR) of 4.6% is expected over the forecast period 2023 ~ 2030.
Injection Molding Machine Technology Trends
Many reports were all shows that the hydraulic type of injection molding machine is still leading the industry in 2022. But there is not so much difference between hydraulic injection molding machines and full electric injection molding molder.
Automotive, marine, aerospace industries are mostly need large injection molding machines. It means that hydraulic injection molding machine playing very important roles in these applications. As hydraulic driven is the advantage of big size of plastic injection molding machine.
The electric injection molding machine is growing very fast in recent years. As it have many advantages comparing to traditional hydraulic injection machines. All-electric injection machine is digital controlled, high speed, and more efficient during the whole injection molding process. And it has highly accurate controlling and monitoring system. So the injection molding manufacturing process is much more stable and good for long time automatic running without manual intervention.
Full electric injection machine is mostly small injection molding machine due to the high cost. As there are about 4 or more servo motors on these all-electric injection molder. So it is welcomed by high value products manufacturing. Electronic component manufacturing like smartphones, tablets, laptops, connectors, and sensors are play key role in the global injection molding machine market. Packaging and medical care industry is keeping a high growth rate due the busy lifestyle of consumers and the concept of health is keep rising.
Hybrid injection molding machine seems the second fastest-growing machine in the plastic injection molding market. Hybrid injection moulding machines combined the advantages of hydraulic injection machine and all-electric injection moulder. The hybrid injection machine is design with hydraulic clamp, injection and injection which requires high power , torque and pressure. And 1 – 3 servo motors for other driven systems.
Injection Molding Industry Trends
The growing demand from the consumer goods and healthcare industries drives the plastic injection molding machine market. Asia Pacific is the largest and fastest growing market for the plastic injection molding machines market. It means injection molding industry trends is moving the countries around China but still in Asia Pacific.
Below industry types are leading plastic injection molding industry trends:
1. Consumer Goods
2. Packaging Industry
3. Automotive
4. Healthcare
5. Electrical & Electronics
China is a major player in the injection molding machines market, both as a manufacturer and an exporter. China exported approximately $4.8 billion worth of injection molding machines in 2022 and share about 33% of the global injection plastic molding machine market. The country is expected to continue to be the largest plastic injection molding machine market in the coming years.
The top five countries that imported the most plastic injection molding machine from China in 2023 were:
1. United States – 16,807 units
2. Vietnam – 11,036 units
3. India – 9,593 units
4. Mexico – 9,206 units
5. Thailand – 8,249 units
In 2023, China is expected to export around 80,000 units of injection molding machines, generating over $5 billion in export revenue.
• The top export destinations for Chinese injection molding machines will continue to be the U.S., European countries, and Southeast Asian nations. The U.S. will remain the largest importer of Chinese machines, importing around 15,000-20,000 units per year. China is the largest producer and exporter of injection molding machines, accounting for over 50% of global output.
• Over the next few months in 2023, the demand for injection molding machines is expected to remain stable. The real growth in the market will likely come in the second half of the year as plastics demand picks up, especially from the packaging & automotive industry.
As for trends in the following months in 2023, there are a few key areas to watch. First, the demand for eco-friendly and sustainable materials is likely to continue to grow, which could drive innovation in the injection molding industry. Additionally, the trend towards automation is likely to continue, as manufacturers look to increase efficiency and reduce costs.
It is expected that the injection molding machines market will continue to grow in the coming months, driven by factors such as increasing demand from end-use industries and technological advancements in the field of injection molding machines. In addition, the increasing focus on sustainability and energy efficiency is expected to create new opportunities for the market players in the coming years.
In terms of technology trends, all-electric machines will continue to gain market share as they offer improved energy efficiency and performance. Also, high-pressure molding systems above 3000 bar will see increased adoption to enable thinner-walled and complex part production.
Overall, the injection molding machines market outlook for 2023 remains fairly positive, driven mainly by demand from the automotive and packaging sectors. However, some economic slowdown, particularly in Europe and China, could pose challenges for machine manufacturers.
Top Branded Plastic Injection Molding Machine Manufacturers Worldwide 2023
