The report “Injection Molding Machine Market by Machine Type (Hydraulic, All-electric, and Hybrid), Clamping Force (0-200, 201-500 and Above 500), Product Type (Plastic, Rubber, Metals), End-Use Industry (Automotive, Packaging) and Region – Global Forecast to 2027″, Injection molding machine market size is projected to reach USD 12.4 billion by 2027 from USD 10.4 billion in 2022 growing at a CAGR of 3.6%.
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• 275 Market data Tables
• 56 Figures
• 290 Pages and in-depth TOC on “Injection Molding Machine Market – Global Forecast to 2027”
Some of the prominent key players are:
· Haitian International Holdings Limited (China)
· Sumitomo Heavy Industries Limited (Japan)
· The Japan Steel Works Ltd. (Japan)
· Chen Hsong Holdings Limited (China)
· Hillenbrand, Inc. (U.S.)
· Nissei Plastic Industrial Co., Ltd. (Japan)
· Engel Austria GmbH (Austria)
· Arburg GmbH & Co KG (Germany)
· Husky Injection Molding Systems Ltd. (Canada)
· KraussMaffei Group GmbH (Japan)
· Dongshin Hydraulic Co., Ltd. (South Korea)
Driver: High demand from the packaging industry
The packaging industry is growing at a rapid rate, owing to the developments in packaging technology and the rising demand for packaged goods and sustainable packaging. The adoption of packaged products in rural areas is increasing, and the growing middle-class population is generating demand for packaged products. These factors have increased the per capita spending on packaged products.
The increasing urban population, increased consumer spending on packaged goods, and the rise in e-commerce and organized retail are contributing to the growth of the packaging industry. The growing competition among packaging manufacturers has led to the adoption of different types of packaging. This is driving the market for rigid plastic packaging, and in turn, the demand for injection molding machines from the packaging industry. Injection molding is predominantly used in the packaging of plastic products such as cups and containers. Asia Pacific is one of the major regions driving the packaging industry.