Singapore 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) –Opportunity Analysis and Industry Forecast, 2024–2030
Industry: Semiconductor & Electronics | Publish Date: 19-Mar-2024 | No of Pages: 88 | No. of Tables: 152 | No. of Figures: 117 | Format: PDF | Report Code : N/A
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Market Definition
Singapore Injection Molding Machine Market size was valued at USD 67.55 million in 2023, and is predicted to reach USD 101.22 million by 2030, with a CAGR of 5.6% 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.
Increasing Investments by Manufacturers Fuels the Injection Molding Machine Market Growth
The manufacturers in the country are increasingly investing in advanced injection molding technology to enhance production efficiency, product quality, and competitiveness. Also, the growth in the manufacturing output of the country has also influenced the injection molding machine industry.
For instance, Singapore manufacturing output for 2022 was USD 95.70 billion, an 8.64% increase from 2021. Moreover, Singapore has a growing aerospace industry, with the presence of leading aviation companies and maintenance, repair, and overhaul (MRO) facilities. Injection molding machines play a vital role in producing lightweight and durable components for aircraft, contributing to the industry's growth.
Growing Trend towards Customization Boosts Injection Molding Machine Market Expansion
The growing trend towards customized and personalized products across diverse industries is reshaping consumer preferences and driving manufacturers to adapt their production processes accordingly. This shift towards customization necessitates the use of flexible and versatile injection molding solutions that can efficiently accommodate varying design specifications and production requirements. Injection molding offers manufacturers the ability to create intricate and unique product designs with precision and consistency, meeting the evolving demands of discerning consumers. As businesses strive to differentiate their offerings in a competitive market landscape, the versatility of injection molding technologies enables them to swiftly respond to changing trends and customer preferences, thereby fueling the overall growth of the market.
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.
Competitive Landscape
The Singapore 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.
The Singapore 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
-
-
Home Appliances
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Others
REPORT SCOPE AND SEGMENTATION:
|
Parameters |
Details |
|
Market Size in 2023 |
USD 67.55 Million |
|
Revenue Forecast in 2030 |
USD 101.22 Million |
|
Growth Rate |
CAGR of 5.6% from 2024 to 2030 |
|
Analysis Period |
2023–2030 |
|
Base Year Considered |
2023 |
|
Forecast Period |
2024–2030 |
|
Market Size Estimation |
Million (USD) |
|
Growth Factors |
|
|
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
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Haitian International
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Husky Injection Molding Systems
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KraussMaffei Group
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