Plastic Injection Molding Machine Market size was over USD 12.85 billion in 2024 and is poised to exceed USD 23.06 billion by 2037, witnessing over 4.6% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of plastic injection molding machine is evaluated at USD 13.32 billion. The growth of the market is driven in particular by the packaging industry. In the packaging of plastic products, such as cups and containers, injection molding is used extensively. The plastics injection molding machines allow manufacturers in the packaging industry to choose the most appropriate materials for their particular applications, which can be processed from a variety of thermoplastics. The production of plastic packaging accounts for almost 40% of the demand.
As public awareness of the large levels of plastic waste pollution is increasing, sustainability in the plastics sector continues to be a major debate topic. As a result, demand for sustainable products has increased and companies have been encouraged to include plastics that can be recycled or biodegradable, such as PLA or bio-PET, in their products. Moreover, the adoption of all electric injection machines has also increased due to their potential for considerable energy savings.
Growth Drivers
Challenges
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
4.6% |
|
Base Year Market Size |
USD 12.85 billion |
|
Forecast Year Market Size |
USD 23.06 billion |
|
Regional Scope |
|
Machine Type (Hydraulic, Electric, Hybrid)
In terms of machine type, hydraulic segment share in the plastic injection molding machine market is set to cross 53% by the end of 2037. Since the demand for medium-sized molded parts from industries like automotive, packaging, and consumer goods has grown, hydraulic plastic injection molding machines have become increasingly popular. These machines are well-suited to producing medium-sized plastic components because of their high clamping forces. Historically, the most common type of injection molding machine has been a hydraulic machine, which uses hydraulic systems to generate the necessary pressure for the injection process.
Application (Automotive, Consumer Goods, Packaging, Electronics)
The automotive segment share in the plastic injection molding machine market is anticipated to surpass 37% during the anticipated time period. The automobile industry's growing need for injection molding equipment is partly due to the increasing use of plastic components in cars due to its cost-effectiveness, lightweight, and flexible design. Furthermore, the need for plastic injection molded parts—which are utilized in EV components like battery housings, connections, and interior components—is increasing as more people switch to electric cars. The growing need for injection molding machines in the automobile sector is further fueled by this trend. In just three years, the percentage of electric vehicles in overall sales has more than quadrupled, rising from 4% in 2020 to 14% in 2022.
Our in-depth analysis of the global market includes the following segments:
|
Machine Type |
|
|
Application |
|
Asia Pacific Market Forecasts
The market share in the Asia Pacific is poised to reach 58% by the end of 2037. The Asia Pacific is home to some of the most important growth countries, such as China and India. Because of this, the region has enormous potential for growth in a number of sectors. The Asia Pacific region is home to around 61% of the world's population, and manufacturing and processing industries are expanding quickly. The Asia Pacific region is the world's largest market for injection moulding machines, with China accounting for the highest growth prospects. Rising disposable income and increasing living standards in developing Asia Pacific countries are the key drivers of this sector.
North American Market Statistics
The North America plastic injection molding machine market is set to register significant growth during the forecast period. The growth of the packaging industry in this region is expected to be positively influenced by growing demand for on-the-go packaged products, due to increased purchasing power and a busy lifestyle in North America. For the production of different packaging products including containers, bottles, caps & closures and cases, a plastic injection molding machine shall be used. The market growth is expected to be driven by the growing demand for packaging products in this region, coupled with increasing use of plastic injection molders.
Author Credits: Richa Gupta
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?