Injection Molding Market to be Worth $397.6 Billion by 2030: Grand View Research, Inc.

SAN FRANCISCO, March 30, 2022 /PRNewswire/ -- The global injection molding market size is anticipated to reach USD 397.6 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 4.8% from 2022 to 2030. The market is driven by the rising demand for injection-molded components from various end-user industries since it offers cost-effective and efficient methods for manufacturing high-volume production of parts and products.

Key Insights & Findings from the report:

• The plastics segment accounted for a revenue share of 98.3% in 2021 owing to its low cost and suitability for high-volume production runs and applications that require consistency in design and strict tolerances.
• The medical application segment is expected to witness a CAGR of 5.7% from 2022 to 2030 owing to growing accessible treatment for surgical and diagnostic procedures used to prevent, treat, and rehabilitate illness.
• In Asia Pacific, the market is expected to witness a CAGR of 5.5% over the forecast period on account of expanding healthcare infrastructure, automobile, packaging industry coupled with growing research and availability of skilled labor.
• In February 2022, Beacon Medtech Solutions announced a partnership with Sumitomo Demag to increase its molding press capacity to expedite the manufacturing and delivery of precision plastic and silicone components.
• In February 2022, Comar, a medical device and packaging solution provider acquired Automatic Plastics Ltd. Through this acquisition, the company aims to strengthen its presence in the pharmaceutical and medical sectors.

Read 152-page market research report, "Injection Molding Market Size, Share & Trends Analysis Report By Material (Plastics, Metals), By Application (Packaging, Medical), By Region (North America, Europe, APAC, CSA, MEA), And Segment Forecasts, 2022 - 2030", published by Grand View Research.

Injection Molding Market Growth & Trends

The market has witnessed growth especially from the medical industry, with the emergence of the COVID-19 pandemic, as this product can offer accuracy, a high range of operation, repeatability, and cleanliness. Furthermore, packaging manufacturers leverage injection molding with robotics to run faster production rates with cost-effectiveness.

The market has witnessed surged adoption in recent years on account of the manufacturing technology employed for producing complex products. Players incorporate industry 4.0 in their process, thereby optimizing the requirement of raw materials, lowering costs, increasing automation, flexibility among other things. COVID-19 pandemic had caused supply chain disruptions in 2020 resulting in losses for the service providers as demand from various end-user industries was halted. However, with the infusion of economic stimulus packages, manufacturers have adopted automation to shorten production cycle time, thereby increasing productivity and profits. 

The demand for plastic injection molding is witnessing significant growth due to high tensile strength and high-temperature endurance that have led to the surged usage of engineering-grade plastic resins for molded products. Moreover, plastic resins enable a reduction in manufacturing waste, product weight, and overall manufacturing costs. Companies providing molding services are engaged in acquiring the latest technologies to meet the changing demands from the medical industries and increase manufacturing capacity. For instance, in August 2021, HTI Plastics installed a new 420-ton injection molding press with an integrated Engel Viper 20 robot to advance its machinery capabilities.

Injection Molding Market Segmentation

Grand View Research has segmented the global injection molding market on the basis of material, application, and region:

Injection Molding Material Outlook (Revenue, USD Million, 2017 - 2030)

• Plastics
• Metals
• Others

Injection Molding Application Outlook (Revenue, USD Million, 2017 - 2030)

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

Injection Molding Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• France
• Italy
• U.K.
• Spain
• Asia Pacific
• China
• India
• Japan
• South Korea
• Australia
• Central & South America
• Brazil
• Argentina
• Middle East & Africa
• Saudi Arabia
• UAE

List of Key Players of Injection Molding Market

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

Check out more related studies published by Grand View Research:

• Polymer Microinjection Molding Market - The global microinjection polymer molding market is expected to reach USD 897.3 million by 2020; according to a new study by Grand View Research, Inc. Growing demand for small sized components mainly from the medical industry is expected to be a key driving factor for the market.
• Metal Injection Molding Market - The global metal injection molding market size is anticipated to reach USD 6.52 billion by 2025, at a registering a CAGR of 11.9% over the forecast period. The growing demand for small components in the automotive, consumer products, and medical equipment industry is projected to propel market demand over the coming years.
• Medical Injection Molding Market - The global medical injection molding market size is expected to reach USD 2.59 billion by 2027, expanding at a CAGR of 8.2%, over the forecast period. Increasing demand for medical products and devices owing to the COVID-19 pandemic is anticipated to drive the market.

Browse through Grand View Research's Advanced Interior Materials Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519 
Email: [email protected] 
Web: https://www.grandviewresearch.com 
Grand View Compass | Grand View Pipeline 
Follow Us: LinkedIn | Twitter

SOURCE Grand View Research, Inc.