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Injection Molding Market Size By Material (Metals, Plastics, and Others), By Technology (Electric, Hydraulic, and Hybrid), By Application (Building & Construction, Packaging, Medical, Consumables & Electronics, Automotive & Transportation, and Others), Regions, Segmentation, and Projection till 2030

CAGR: 5.10%Current Market Size: USD 262 BillionFastest Growing Region: North America

Largest Market: APACProjection Time: 2023-2030Base Year: 2022

Global Injection Molding Market- Market Overview:

The global injection molding market is expected to grow from USD 262 billion in 2022 to USD 390.0 billion by 2030, at a CAGR of 5.10% during the Projection period 2023-2030. The growth of the injection molding market is mainly driven by the rise in production.

The demand for mass production of thousands of identical components at lower costs, together with design flexibility and precision, is anticipated to increase, especially from various end-user industries like packaging, medical, and electronics. The rapid rise of the omicron strain in 2021 has shaken the world's economic recovery. High transmissibility and the capacity to infect those who have received vaccinations could result in the imposition of a lockdown and disrupt the supply chain. Additionally, nations like China, India, and South Korea are concentrating on bolstering local manufacturing as a way to protect themselves against future disruptions that are anticipated to increase market demand. Due to the COVID-19 epidemic, the U.S. injection molding market saw a change as the players increased their capacity to satisfy the expanding demands of the market. The need for medical equipment increased healthcare spending in the nation, and an increase in the number of manufacturers using medical injection moulding technology are all predicted to have a beneficial impact on the growth. The three crucial processes in injection moulding services are mass production, bridge tooling, and prototype creation. In order to evaluate the shape and form of the components before moving forward with their manufacturing with the actual designs, prototypes are essential for the creation of parts.

Sample Request: - Global Injection Molding Market

Market Dynamics:

Drivers:                          

  • Increase Demand

North America accounts for the maximum share of the injection molding market and is anticipated to increase at a significant rate over the course of the Projection period as a result of the recent rise of e-commerce and retail. A sizable portion of the injection molding business comes from Europe. In addition, the Asia-Pacific region is anticipated to increase at the fastest rate and provide the largest amount to the market for injection molding due to the growth in the number of consumers and the need for food and beverage products. Latin America, the Middle East, Africa, and Oceania are predicted to have consistent expansion in the Injection molding market and enhance their market dominance involvement during the Projection period.

Restraints:                                             

  • Availability of Alternatives

The availability of alternatives, such as paper and bioplastics that are disposable and recyclable, as well as the trend toward using biodegradable polymers rather than plastic to reduce the carbon footprint produced by both suppliers and consumers, are the factors that limit the market for injection molding.

Opportunities:

  • Technological Advancements

With new designs and packaging innovations made possible by plastic material, the application of the injection molding technique is expanding. The factors affecting the injection molding market include affordability, durability, convenience of handling and transportation, excess supply of food and beverage goods, resilience, durability, and lightweight. A diverse method for producing plastic products and components is injection molding. This technology is frequently chosen because it has clear advantages over other fabrication processes. Injection molding is not only trustworthy and easy to use, but it is also quite effective.

Challenges:

  • Rise in OEMs

Bridge tools are excellent for process optimization, project ROI estimation, and testing prior to launch. It is anticipated that the expanding packaging and medical device industries will fuel expansion. From an efficiency, cost, and quality standpoint, manufacturing injection molded components in-house by OEMs might prove to be a substantial problem.

Segmentation Analysis:

The global injection molding market has been segmented based on material, technology, application, and region.

By Material

The material segment is metals, plastics, and others. The plastics segment led the largest share of the injection molding market with a market share of around 45% in 2022. Because plastic offers a low-cost technology that is suited for high-volume production runs, applications that demand uniformity in design, and applications that require tight tolerances. Mass production of complex plastic shapes has been encouraged by recent advances to reduce the rate of defective production, especially in packaging, consumer products, and construction, supporting industry growth. Due to characteristics like high tensile strength, higher metal tolerance, and high-temperature endurance, the need for plastic resins in injection molding is increasing. A reduction in manufacturing waste, product weight, and total manufacturing costs is also made possible by these resins, which supports industry growth.

By Technology

The technology segment is electric, hydraulic, and hybrid. The electric segment led the largest share of the injection molding market with a market share of around 40.3% in 2022. The electric machine uses energy only when it is moving, is quicker to start up, and is energy-efficient. Because these machines are digitally controlled, a quick procedure is achieved without the need for supervision. The molding state may be stabilized since the electric section includes extremely precise control and monitoring systems. The independent motors manage the entire process from injection to extruder to clamping and ejection, allowing the electric injection molding market to be digitally controlled, operate at a high speed, and be more productive throughout the entire manufacturing process. There is less start-up scrap with this machine.

By Application

The application segment is building & construction, packaging, medical, consumables & electronics, automotive & transportation, and others. The packaging segment led the largest share of the injection molding market with a market share of around 30.3% in 2022. The evolving consumer habits, sustainability, and the growth of e-commerce are all factors contributing to the rising need for injection molding in the packaging industry. Additionally, rising investments in the pharmaceutical, personal care, and food processing industries are driving up demand for packaging services. The development of the injection molding market is anticipated to be significantly influenced by the development of smartphones, artificial intelligence, and voice recognition technologies as well as the presence of technology-driven businesses. The expansion is anticipated to be fueled by increasing demand for connections, plug connectors, sensors, electronic components, and other electronics.

Global Injection Molding Market - Sales Analysis.

The sale of the injection molding market expanded at a CAGR of 4% from 2016 to 2022.

It is projected that more industries, including those in automotive, electronics, consumer goods, and packaging, will embrace injection-molded components. Important enterprises were negatively impacted by the Covid-19 pandemic, which prevented investments in cutting-edge technologies like robots and job expansion. As a result of the pandemic, fewer people were employed in industrial facilities, which hurt businesses. Following the outbreak, there will be a rise in the demand for medical equipment injection molded products. Over the Projection period, it is expected that this would enhance demand for this equipment. Due to consumers' growing purchasing power and active lifestyles, the demand for on-the-go packaged goods is predicted to increase in the United States, which is expected to benefit the country's packaging business.

Over the Projection period, it is anticipated that the United States' thriving packaging sector and increasing use of injection-molded packaging items will fuel demand for these goods. Numerous industries' increasing need for additional floor space has increased the number of new construction and renovation projects nationwide. The demand for injection molded components used in the construction industry will likely be driven by an increase in the number of large-scale infrastructure investment projects, such as hotels and hospitals in Missouri, New York, and Los Angeles. This is anticipated to have a favorable effect on the country's market expansion.

Thus, owing to the aforementioned factors, the global injection molding market is expected to grow at a CAGR of 5.10% during the Projection period from 2023 to 2030.

By Regional Analysis:

The regions analyzed for the injection molding market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. Asia Pacific region dominated the injection molding market and held a 38.2% share of the market revenue in 2022.

  • The Asia Pacific region witnessed a major share. Due to the significant investments made by the governments of various nations in the region in the expansion of the residential building and the development of public infrastructure.
  • North America is anticipated to experience significant growth during the Projection period. Due to rising individual disposable income and increased antidepressant demand brought on by the high frequency of anxiety disorders. The factors boosting the expansion of this regional segment furthermore include developing healthcare infrastructure in emerging nations and rising knowledge of better treatment choices.

Global Injection Molding Market - Country Analysis:

  • Germany

Germany's injection molding market size was valued at USD 0.75 billion in 2022 and is expected to reach USD 1.19 billion by 2030, at a CAGR of 6% from 2023 to 2030. Because of innovation, an increase in investment stimulus, and the promotion of technology in a variety of end-use industries, including packaging, automobiles, and medicine. Positive growth is anticipated as end-user demand for smart packaging that is recyclable and sustainable grows.

  • China

China’s injection molding market size was valued at USD 0.78 billion in 2022 and is expected to reach USD 1.26 billion by 2030, at a CAGR of 6.2% from 2023 to 2030. China's economy is expanding and has been helped by the numerous improvements in the residential and commercial construction industries. Hong Kong's housing authority in China started a number of initiatives to speed up the development of affordable housing. By 2030, the authorities hope to have 301,000 public housing units available. By 2025, the Chinese packaging market is anticipated to increase significantly, with a CAGR of around 6.8%, to reach CNY 2 trillion (or USD 282.11 billion). The market demand for injection molding in the nation is anticipated to be ignited by this encouraging momentum in the packaging sector.

  • India

India's injection molding market size was valued at USD 0.60 billion in 2022 and is expected to reach USD 0.96 billion by 2030, at a CAGR of 6.1% from 2023 to 2030. With a 9% GDP contribution, the construction sector is India's second-largest industry. Due to increased end-user expenditures and escalating government initiatives for the building industry's rehabilitation post-COVID-19, the construction sector experienced substantial growth in 2021. By 2030, it is expected that India's construction business would grow to approximately USD 1 trillion, making it the third-largest market in the entire globe. In addition, the Government of India projects that the Indian pharmaceutical industry's market will grow to USD 130 billion by 2030. More than 200 countries have received pharmaceutical products from India, and this practice may continue in the future. ​

Key Industry Players Analysis:

To increase their market position in the global injection molding market business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.   

  • C&J INDUSTRIES
  • Biomerics
  • All-Plastics
  • The Rodon Group
  • HTI Plastics
  • Majors Plastics, Inc.
  • EVCO Plastics
  • Currier Plastics, Inc.
  • Proto Labs, Inc.
  • Tessy Plastics
  • H&K Müller GmbH & Co. KG
  • Formplast GmbH
  • TR PLAST GROUP
  • Hehnke GmbH & Co KG
  • D&M Plastics, LLC

Latest Development:

  • October 2022, In Wisconsin, the United States, Evco Plastics proposed a production capacity expansion with USD 11 million in October 2022. The business currently runs 183 injection moulding machines.
  • July 2022, ALPLA invested USD 850,000 in India's mould shop in July 2022. After Austria and Germany, the company's third such plant is anticipated to be the mould shop in India. The Indian mould shop might use cutting-edge technology to provide regional solutions. With this investment, ALPLA's total stake in Pashamylaram, India, might reach USD 61 million.

Report Metrics

Report Attribute 

Details

Study Period

2022-2030

Base year

2022

CAGR (%)

5.10%

Market Size

262 billion in 2022

Projection period

2023-2030

Projection unit

Value (USD)

Segments covered

By Material, By Technology, By Application, and By Region.

Report Scope

Revenue Projection, competitive landscape, company ranking, growth factors, and trends

Companies covered

C&J INDUSTRIES, Biomerics, All-Plastics, The Rodon Group, HTI Plastics, Majors Plastics, Inc., EVCO Plastics, Currier Plastics, Inc., Proto Labs, Inc., Tessy Plastics, H&K Müller GmbH & Co. KG, Formplast GmbH, TR PLAST GROUP, Hehnke GmbH & Co KG, and D&M Plastics, LLC.

By Material

  • Metals
  • Plastics
  • Others          

By Technology

  • Electric
  • Hydraulic
  • Hybrid     

By Application

  • Building & Construction
  • Packaging
  • Medical
  • Consumables & Electronics
  • Automotive & Transportation
  • Others                 

Regional scope

  • North America
  • Europe
  • Asia-Pacific
  • South America
  • Middle East and Africa

Scope of the Report

Global Injection Molding Market By Material:

  • Metals
  • Plastics
  • Others

Global Injection Molding Market By Technology:

  • Electric
  • Hydraulic
  • Hybrid

Global Injection Molding Market By Application:

  • Building & Construction
  • Packaging
  • Medical
  • Consumables & Electronics
  • Automotive & Transportation
  • Others

Global Injection Molding Market By Region:

  • North America
    • USA
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • UK
    • Italy
    • Spain
    • Russia
  • Asia-Pacific
    • Japan
    • China
    • India
    • Korea
    • Southeast Asia
  • South America
    • Brazil
    • Peru
  • Middle East and Africa
    • UAE
    • South Africa
    • Saudi Arabia

Frequently Asked Questions

What will be the expected market size of the injection molding market in 2030?

Global injection molding market is expected to reach USD 390.0 billion by 2030.

What is the CAGR of the injection molding market?

The injection molding market is projected to have a CAGR of 5.10%.

What are the key factors for the growth of the injection molding market?

North America accounts for the maximum share of the injection molding market and is anticipated to increase at a significant rate over the course of the Projection period as a result of the recent rise of e-commerce and retail. A sizable portion of the injection molding business comes from Europe. In addition, the Asia-Pacific region is anticipated to increase at the fastest rate and provide the largest amount to the market for injection molding due to the growth in the number of consumers and the need for food and beverage products.

Which are the leading market players active in the injection molding market?

Leading market players active in the global injection molding market are Berry Global Inc, Silgan Holdings Inc., AptarGroup, Inc., Amcor PLC, and ALPLA. among others