Injection Molding Market Research
Global injection molding machine market is expected to reach $ 4.86 Billion by 2021 with a CAGR of 2.2% for (2016-2021). Increasing demand from end-user segments such as automotive, consumer goods and packaging are key drivers of injection molding market.
This market is segmented by product type namely, plastic, rubber, metal ceramic, and others (includes micro-injection molding, gas injection molding, and liquid silicone rubber injection molding). Plastic is the most preferred product type of injection molding machine and has the major share in Global Market share.
Key Players- Leading Market players for injection molding market are Haitian International Holdings Limited (China), Chen Hsong Holdings Limited (China), Sumitomo Heavy Industries (Japan), Milacron Holdings Corp. (U.S.), Engel Austria GmbH (Austria), Nissei Plastic Industrial Co., Ltd, (Japan), Arburg GmbH & Co. KG (Germany), Husky Injection Molding Systems Ltd. (Canada), Dongshin Hydraulic Co., Ltd. (Korea), The Japan Steel Works Ltd. (Japan), KraussMaffei Group GmbH (Germany), Negri Bossi S.P.A. (Italy), and others.
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The import of injection moulding machine stood at US$5.864bn in 2016. The import of injection machine decreased slightly from 2015 in which the value of import was US$5.985bn. The downfall in import was attributed to decrease in demand from China and other developing countries.
As seen from the Figure the United States was the largest importer of injection moulding machine. It imported injection processing machine worth of US$858.9 mn. The second largest importer was China which imported molding machine worth of US$590.6mn followed by Mexico (US$573mn), Germany (US$292.8mn), Vietnam (US$283.2mn) and others.
The United States was the largest market for the imported molding machine. Being the largest market most of the leading injection moulding machine manufacturer exported machine to the United States. The leading exporter of plastic injection moulding machine to the United States was Japan in 2016. It exported injection machine worth of US$242.5 mn followed by Germany (US$186 mn), China (US$116.4), Austria ($US109.5 mn) and others. The growth in import of injection moulding machine is primarily driven by demand in the automotive sector.
The United States is the leading country housing major automotive manufacturer across the globe. Due to trend shift is producing innovative and aesthetically improved products is increasing the demand for exterior and interior automotive products
As the plastic injection moulding machine market is becoming more competitive there is pressure on injection machinery manufacturer to increase profit and gain market share. This has made the plastic molding machinery companies focus on product innovation with new market strategy. The major strategy shift seen is
1-Plastic injection moulding machine manufacturers are shifting the small injection molding machine to full electric models
2-Large tonnage injection machines are in more demand with two platen plastic injection moulding machine.
3-Further injection machinery companies are focusing on building their brand awareness and consistent after sales services.
4-Further companies are focusing on the value of consumables for injection moulding machines as they are driving the profits for the companies. As seen the consumption of consumable is one to four times the value of the plastic injection moulding machine during their entire shelf life.
5-Focusing on providing after-market services such as overhauling and technologically upgrading the injection machine to increase the shelf life. CONTINUE READING
The production of PET polymer is dominated by few companies. Indorama Ventures was the largest producer of PET polymer globally with an installed production capacity of 4.2 million tons in 2017. The other leading companies are MG Chemical with an installed capacity of 2.7 million tons, Zhejiang Yisheng Petrochemical Co. (2.5 million tons), Sang Fang Xiang (2.1 million tons) and DAK America (1.8 million tons).
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