ALBANY, New York, January 19, 2017 /PRNewswire/ --
Transparency Market Research has released a new market report titled "2-shot Injection Molding (Polypropylene, Polycarbonate, Acrylonitrile Butadiene Styrene (ABS), Polystyrene, Other Plastics, Silicones, Styrene-Butadiene Rubber (SBR), Thermoplastic Elastomers (TPE) and Other Elastomers) Market for Medical, Automotive, Consumer Goods, Electrical & Electronics, Industrial, Packaging and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016-2024." According to the report, the global 2-shot injection molding market was valued at US$ 6.60 Bn in 2015 and is projected to reach US$ 11.58 Bn by 2024 at a CAGR of 6.5% from 2016 to 2024.
2-shot injection molding is defined as the molding process, wherein a single injection molding machine and a single injection mold is used to form a part with two or more polymer resins within one cycle. 2-shot injection molding is sometimes also called as 2-k injection molding and double injection molding. There are several variants of the 2-shot molding process with the most common being the core back and rotating tool processes. This molding technique is typically used to combine hard plastics with a softer material. Some of the common combinations of materials are PP/ABS, PC/ABS, Silicones/Thermoplastics, TPE/Thermoplastics, Nylons/Elastomers etc.2-shot injection molding is used to improve the aesthetic and ergonomic functionality of plastic and rubber molding products. 2-shot molding is usually to manufacture multi-colored parts, soft-touch handles & grips, articulated parts such as joints and hinges and technical parts for dampening vibrations.
In terms of application, automotive applications was the largest segment of the 2-shot injection molding market, accounting for more than 20% volume share in 2015. However, the medical segment was projected to overtake the automotive segment by 2024 boosted by a fast CAGR of more than 7% from 2016 to 2024. The consumer goods and the electrical & electronics segments were also anticipated to witness growth due to increasing number of applications of 2-shot injection molding in these segments. The packaging and industrial segments were forecasted to witness below average growth rates during the forecast period. The opportunity for molders to differentiate and add value to their products through 2-shot injection molding was the prime driver for the market. In terms of product volume, PP was the leading product segment in the 2-shot injection molding market. Silicones, TPE, Nylons and Polycarbonate are one of the fastest growing polymers used in 2-shot injection molding. SBR, which is one of the most widely used elastomers, is rarely used in 2-shot molding as it is incompatible with most other polymers used in this molding process.
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Demand for plastics used in 2-shot injection molding is estimated to be high in developed nations. Europe dominated the 2-shot injection molding market accounting for more than 30% of the total market share in 2015.North America was another major consumer of plastics used in 2-shot injection molding. Asia Pacific is projected to grow at the fastest rate between 2016 and 2024. The major technological trends in this market is the development of 2-shot molding machines for manufacturing products requiring high tonnage as well as for products in micro dimensions.
The global 2-shot injection molding market is dominated by a large number of companies each having a small share of the market. Some players in the market include Rogan Corporation, Bemis Manufacturing Company, Nyloncraft, Inc., Gemini Group, Inc. Biomedical Polymers Inc., Carclo Technical Plastics, Yomura Technologies and Evco Plastics.
The global 2-shot injection molding market has been segmented as follows:
2-shot Injection Molding Market - Product Analysis
- Acrylonitrile Butadiene Styrene (ABS)
- Other Plastics (Nylons, PBT etc.)
- Styrene Butadiene Rubber (SBR)
- Thermoplastic Elastomers (TPE)
- Other Elastomers (Nitrile Rubber, Natural Rubber etc.)
2-shot Injection Molding Market - Application Analysis
- Consumer Goods
- Electrical & Electronics
2-shot injection molding Market - Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- South Africa
- Rest of MEA
Related Research Reports:
- Molded Plastics Market: http://www.transparencymarketresearch.com/molded-plastics-market.html
- High Strength Steel Market: http://www.transparencymarketresearch.com/high-strength-steel-market.html
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