According to FutureWise analysis the market for injection molding machine in 2023 is US$ 16.07 billion, and is expected to reach US$ 23.42 billion by 2031 at a CAGR of 4.82%.
Injection molding machines are mechanical systems that are used to produce a variety of plastic products at large volumes. Injection molding machines are available in a variety of sizes and specifications, making them suitable for various manufacturing industries. There are several types of materials used, including metal (also referred to as die casting), glass, elastomers, and confections, with the most commonly used being thermoplastic and thermosetting polymers. A machine for injection molding can create products in a variety of sizes, from the smallest part to the entire car body. Additionally, injection molding is the method used most often in modern times for making plastic products. Injection molding is a suitable method for manufacturing complex shapes and has a significant role in the plastic processing industry. The machine consists of two parts, namely an injection unit and a clamping unit. The molds can be mounted horizontally or vertically on injection molding machines. These machines can be classified into hydraulic, mechanical, and electric types. Population growth has resulted in an increase in the demand for processed foods and beverages, medicines, automobiles, and electronics. Due to its versatility and capability to be tailored according to specific requirements, plastic has become increasingly popular.
FutureWise Market Research has instantiated a report that provides an intricate analysis of Injection Molding Machine Market trends that shall affect the overall market growth. Furthermore, it includes detailed information on the graph of profitability, SWOT analysis, market share and regional proliferation of this business. Moreover, the report offers insights on the current stature of prominent market players in the competitive landscape analysis of this market.
According to the research study conducted by FutureWise research analysts, the Injection Molding Machine Market is anticipated to attain substantial growth by the end of the forecast period. The report explains that this business is predicted to register a noteworthy growth rate over the forecast period. This report provides crucial information pertaining to the total valuation that is presently held by this industry and it also lists the segmentation of the market along with the growth opportunities present across this business vertical.