According to the new market research report by MarketsandMarkets, the Injection Moulding Machine Market is projected to reach USD 12.3 billion by 2025, at a CAGR of 3.6 percent from USD 10.3 billion in 2020.
An injection moulding machine is used for manufacturing products made up of plastics, rubber, metal, and ceramic. It consists of two main parts – an injection unit and a clamping unit. The injection unit is like an extruder, whereas the clamping unit is concerned with the operation of the mould. Injection moulding machines can fasten the moulds either at the horizontal or the vertical position. There are three types of injection moulding machines – hydraulic injection moulding machines, all-electric injection moulding machines, and hybrid injection moulding machines.
Hydraulic injection moulding machine is the largest type segment of the injection moulding machine market. APAC was the largest market for synthetic leather in 2019, in terms of both volume and value. Factors such as growing demand from healthcare industry, rapid industrialisation in growing economies like China, India & Thailand and increasing demand for plastic moulds in electric vehicles will drive the injection moulding machine market.
Healthcare is projected to be the fastest growing end-use industry in the market between 2020 and 2025
Injection moulding machines are preferred for manufacturing medical products, as these machines offer high precision, accurate, and complex injection moulded parts. These machines have application in surgical and medical devices such as syringes, vials, medical instruments, inhalers, cannulated, medicinal connectors, air systems, and prescription bottles. The outbreak of coronavirus across the globe has highlighted the healthcare industry. Due to explosive surge in the number of Covid-19 cases, the demand for medical equipment like syringes, air systems, and other medical instruments increased exponentially. Countries such as India and China became the hub for manufacturing and meeting the demand for all these equipment across the globe.
APAC is projected to be fastest growing region for the market during the forecast period
The APAC comprises major emerging nations such as China and India. Hence, the scope for the development of most industries is high in this region. The injection moulding machine market is growing significantly and offers opportunities for various manufacturers. The APAC region constitutes approximately 61.0 percent of the world’s population, and the manufacturing and processing sectors are growing rapidly in the region. The APAC is the largest injection moulding machine market with China being the major market which is expected to grow significantly. The rising disposable incomes and rising standards of living in emerging economies in the APAC are the major drivers for this market.
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