Asia-Pacific Injection Molding Machine Market by Product Type (Plastic, Rubber, Metal, Ceramic, and Others), by Machine Type (Hydraulic, All-electric, and Hybrid), by Clamping Force (Below 200 Tons, 200–500 Tons, and Above 500 Tons), by Business Type (New Sales and Aftersales), by End-User (Automotive, Packaging, Electronics, Healthcare, Consumer Goods, Toy Making, Building and Construction, Home Appliances, and Others) – Global Opportunity Analysis and Industry Forecast, 2024–2030
Industry: Semiconductor & Electronics | Publish Date: 18-Mar-2024 | No of Pages: 278 | No. of Tables: 254 | No. of Figures: 219 | Format: PDF | Report Code : N/A
Market Definition
Asia-Pacific Injection Molding Machine Market size was valued at USD 8.33 billion in 2023, and is predicted to reach USD 11.40 billion by 2030, with a CAGR of 4.3% from 2024 to 2030.
An injection molding machine, also referred to as an injection molder, is a sophisticated industrial apparatus designed for the precise and controlled injection of molten plastic material into a mold cavity. It melts the plastic resin and forces it into a mold under high pressure. Injection molding machines are essential tools for producing various plastic parts and products across various sectors, including automotive, consumer goods, electronics, medical devices, and others.
The Injection Molding Machines Industry is Experiencing significant growth due to Economic Diversification and Innovation Initiatives
Asia Pacific region benefits from its robust industrial landscape, with a strong emphasis on economic diversification and self-sufficiency. Policies aimed at encouraging domestic manufacturing, fostering innovation, and attracting foreign investments are creating an environment conducive to the growth of the injection molding machines industry. As industries such as automotive and electronics continue to expand and diversify, the demand for advanced injection molding solutions remains steadfast, contributing significantly to the region's growth.
Technological Advancement in Response to Changing Consumer Preferences and Sustainability Goals Drives Market Growth
The changing consumer preferences, rising disposable incomes, and the need for innovative and cost-effective packaging solutions are leading to increased adoption of injection molding technology. This trend aligns with the region's commitment to sustainability and efficiency, further fueling the demand for advanced machinery, including injection molding machines.
Emergence of Alternative Manufacturing Technologies Hinders the Market Growth
Emergence of alternative manufacturing technologies, such as 3D printing and additive manufacturing also restrains growth of the injection molding machines market. These innovative methods offer unique advantages that are drawing attention away from conventional injection molding. Industries that prioritize customization, rapid prototyping, and waste reduction are increasingly turning to 3D printing and additive manufacturing.
This diversion of demand impacts the injection molding machines market, particularly in sectors where these alternatives better suit the production requirements. As a result, injection molding machine manufacturers face the challenge of adapting to changing market dynamics and finding ways to remain competitive, as manufacturing technologies continue to evolve.
Customized Products from Diverse Industries Offer a Prime Opportunity for Growth and Innovation
The rise in demand for customization and personalized products is expected to create ample growth opportunities for the market in the future. This trend is becoming evident across various industries, ranging from consumer goods to electronics. Injection molding machines are at the forefront of catering to this trend. Machines that possess the ability to quickly switch between different molds and efficiently produce small batches play a pivotal role in enabling manufacturers to respond to this demand for customization.
These machines empower manufacturers to produce items that are tailor-made to suit specific requirements and preferences. Whether it's creating custom-designed consumer goods or producing electronics with unique features, injection molding machines equipped for such versatility are crucial for fulfilling consumers’ demand.
China Holds the Dominant Market Share in the Asia-Pacific Injection Molding Machine Market
One of the primary driving forces behind China's injection molding machine industry is the strategic expansion of manufacturing facilities by renowned players within the country. These established manufacturers recognize the significance of the Chinese market and are responding by enhancing their local production capabilities.
For instance, in February 2023, Sumitomo (SHI) Demag China announced the construction of its new 43,000-ft2 facility to double injection molding machine production in China. Moreover, as a global manufacturing hub, China's industrial landscape covers a wide range of sectors, from automotive and electronics to consumer goods and beyond. According to the TAKE-Profit Organization, manufacturing production in China increased by 3.9 % in July 2023 over the same month in the previous year. The confluence of these exclusive factors contributes to the remarkable growth of the injection molding machines industry in China.
India is Expected to Show Steady Growth in the Asia-Pacific Injection Molding Machine Market
India is witnessing a surge in adoption of injection molding machines, with various indicators pointing towards its accelerated growth. One of the key driving forces is the substantial investments being made by global market players in the Indian market. Global manufacturers are establishing their presence in India, setting up production facilities, and introducing advanced technologies.
For example, in November 2022, Shibaura Machine India Pvt Ltd, the subsidiary of Japan’s Shibaura Machine, leading manufacturer of high-precision injection molding machine in the world, announced its plans to invest in India, which subsequently to expanded its manufacturing capacity in the country.
Moreover, partnerships and collaboration strategies by various local and global players have also emerged as significant drivers in India's injection molding machines industry. For instance, in December 2022, SOLIZE India Technologies, a subsidiary of SOLIZE Corporation, announced a partnership with Toray Engineering D Solutions to supply 3D injection molding machines for the Indian market.
Competitive Landscape
The Asia-Pacific Injection Molding Machine industry includes several market players such as Hillenbrand, Inc., Sumitomo Heavy Industries, The Japan Steel Works, NISSEI, Ube Industries, Ltd., ENGEL, ARBURG, Haitian International, Husky Injection Molding Systems, and KraussMaffei Group.
Asia-Pacific Injection Molding Machine Market Key Segments
By Product Type
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Plastic
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Thermoplastics
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Thermosets
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Rubber
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Metal
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Powder
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Liquid
-
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Ceramic
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Others
By Machine Type
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Hydraulic
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All-electric
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Hybrid
By Clamping Force
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Below 200 Tons
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200–500 Tons
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Above 500 Tons
By Business Type
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New Sales
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Aftersales
By End-User
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Automotive
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Interior
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Trim
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Exterior
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Others
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Packaging
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Caps and Closures
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Thin-wall Containers
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Lids
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Personal Care
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Containers
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PET Preforms
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Others
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Electronics
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Healthcare
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Consumer Goods
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Toy Making
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Building and Construction
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Flooring
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Windows
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Doors
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Others
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-
Home Appliances
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Others
By Country
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China
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Japan
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India
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Australia
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South Korea
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Thailand
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Singapore
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Rest of Asia-Pacific
REPORT SCOPE AND SEGMENTATION:
|
Parameters |
Details |
|
Market Size in 2023 |
USD 8.33 billion |
|
Revenue Forecast in 2030 |
USD 11.40 billion |
|
Growth Rate |
CAGR of 4.3% from 2024 to 2030 |
|
Analysis Period |
2023–2030 |
|
Base Year Considered |
2023 |
|
Forecast Period |
2024–2030 |
|
Market Size Estimation |
Million (USD) |
|
Growth Factors |
|
|
Countries Covered |
7 |
|
Companies Profiled |
10 |
|
Market Share |
Available for 10 companies |
|
Customization Scope |
Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope. |
|
Pricing and Purchase Options |
Avail customized purchase options to meet your exact research needs. |
KEY PLAYERS
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Hillenbrand, Inc.
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Sumitomo Heavy Industries
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The Japan Steel Works
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NISSEI
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Ube Industries, Ltd.
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ENGEL
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ARBURG
-
Haitian International
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Husky Injection Molding Systems
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KraussMaffei Group
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