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Injection Molding Machine Market Size, By Type (Plastic IMM, Rubber IMM, Metal IMM), By Position (Horizontal, Vertical), By Mechanism (Hydraulic, Mechanical, Electrical, Hybrid), By End-user (Automotive & Transportation, Construction, Consumer Goods, Packaging, Electrical & Electronics), Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Landscape & Forecast, 2021 – 2027

  • Report ID: GMI4467
  • Published Date: Apr 2021
  • Report Format: PDF

Industry Trends

Injection Molding Machine Market size was valued at USD 4.4 billion in 2020 and is estimated to exhibit a CAGR of over 4.8% from 2021 to 2027. Packaging and medical technology sectors to proliferate the demand will fuel the business growth during the forecast period.

An injection molding machine is used to produce parts by injecting molten materials into a mold. Injection molding is a suitable method to mass manufacture complex shapes and plays an important role in the plastic processing industry.

Materials that are mainly used include metals (which is also referred to as die-casting), glasses, elastomers & confections and the most commonly used are thermoplastic and thermosetting polymers. An injection molding machine is capable of fabricating the sizes of different products from the smallest part to the entire body of the car. Additionally, injection molding is the most common modern method of manufacturing plastic parts.

Injection Molding Machine Market Overview

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Proliferating machine demand from the packaging, medical, and electronics sectors along with the rising need for replacements in the automotive industry will drive the injection molding machine market share in the coming years. The packaging industry has been witnessing tremendous growth in recent years, especially in Asia Pacific. The sector has been ordering an increasing number of machines, especially for low and medium-injection speed applications.

Changing regional demographics, such as shrinking houses, in conjunction with the adoption of a fast-paced life by millennials are significantly influencing the packaging trend in the region and stimulating the demand for lighter, portable, small & on-the-go consumption pack types. Moreover, in 2020, the market witnessed a more than 50% increase in demand for injection molding machines from the medical sector. This can be attributed to the sudden rise in the requirement for medical equipment due to the ongoing coronavirus pandemic.

Furthermore, manufacturers are focused on the development and production of all-electric injection molding machines. Key industry players are taking several efficiency measures to improve their production capabilities for this forward-looking technology. Companies are benefitting from the shifting preference to all-electric machinery. For instance, Sumitomo (SHI) Demag Plastics Machinery GmbH, a major market player, has been witnessing substantial demand from this machinery segment.

In 2020, Europe accounted for 50% of the company’s revenue in small & medium-sized machines. Moreover, manufacturers are introducing new generations of injection molding machines to coup up more market share from different industry verticals. For instance, Sumitomo (SHI) Demag expanded its portfolio by including modern multi-component machinery designed to suit specific applications of each industry.

However, emerging technologies, such as 3D printing, may pose a threat to market development in the coming years. Besides, the COVID-19 outbreak has been a major barrier to market growth. The disrupted industry value chain, raw material shortage, and plummeted demand have negatively influenced the nosiness profitability and restricted market expansion. The demand for injection molding machines observed a severe downfall from the automotive and construction industries.

On the other hand, the COVID-19 health crisis has catalyzed the product demand from the medical sector. Nevertheless, the world has now entered a phase of recovery and is likely to create a positive outlook for the injection molding machine market growth.

High plastic consumption will drive the demand for plastic injection molding machines

Injection Molding Machine Market by Type

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The plastic injection molding machine accounted for over 70% market share in 2020 as these are used to manufacture plastic parts for multiple industries. In recent times, plastic injection molding machines are essential to every manufacturing sector including automotive, electronics, housewares, and home appliances, among others. Plastic provides durable, high-quality production runs, affordable, and corrosion-resistant products; hence, has emerged as one of the most crucial materials in modern manufacturing.

Additionally, the segment is anticipated to showcase promising growth during the forecast timeline. The growth trend of plastic IMMs is underpinned by the packaging and automotive industries coupled with bolstering demand from the manufacturing sector, which is expected to further drive the injection molding machine market size.

Horizontal injection molding machine to dominate the product demand

Injection Molding Machine Market by Position

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Horizontal injection molding machines held over 80% share in 2020. Horizontally-oriented machines are easy to maintain, offer simple operation, and are more easily favored by the public. This type of machine is generally chosen to manufacture pure plastic products, in addition to parts with larger surface areas. Horizontal machines are suitable to manufacture cylindrical products, such as silicone baby nipples, silicone baby bottles, and LSR breast pumps, among others.

One of the major advantages of horizontal machines over vertical machines is that they can attain automatic production to save both labor & time and improves production efficiency along the way. It is estimated that horizontal injection molding machines will become conventional, and many manufacturers will prefer them over vertical machines.

Electric machines will witness a significant rise in demand

Injection Molding Machine Market by Mechanism

In 2020, electrical segment generated around USD 1.5 billion in injection molding machine market and is expected to observe substantial demand in the coming years. The increasing demand from the packaging, electronics, and medical sectors is backing up the market growth. Compared to hydraulics, all-electric IMMs are controlled with servo motors that allow a repeatable, faster, energy-efficient, and more precise operation.

The digital control of electric injection molding machines allows them to be operated virtually unattended, boosting profits by lowering labor costs. Due to their high precision, these types of machinery are suitable for manufacturing small to medium products and medical parts such as syringes and Petri dishes.

Automotive sector to generate major revenue for the market

The automotive end-use sector contributed significant revenue to the injection molding market and acquired over a 10% portion of the industry share. Injection molding machines offer a feasible solution for producing large and high-quality auto parts in abundance. The automotive sector where quality, consistency, and safety are of the utmost importance considers injection molding machines a preferred choice. This machine is highly adopted in the industry owing to its ability to produce identical parts in mass quantity with relatively low operating costs. Many metal auto parts have been transitioned into plastics and are significantly driving the requirement for injection molding machines to achieve production targets.

The Asia Pacific will dominate the product consumption

Injection Molding Machine Market by Region

Asia Pacific is the leading revenue-generating region and will witness around 5% CAGR in the injection molding machine market by 2027. The robust product demand can be attributed to the growing end-use industries. The automotive industry is one of the verticals substantially contributing to this growth. The region has the least number of cars per thousand people. Therefore, the demand for cars is improving in Asia Pacific with the improving economic condition. Since many Asian countries have low car penetration, the automotive industry is yet to grasp the full potential of the market in the region.

The price-conscious nature of the population and high mileage demand are further compelling auto manufacturers to use plastic parts in vehicles, which will significantly drive the demand for plastic injection molding machines within the region.

Key players are focused on strategic developments to strengthen their market foothold

Injection molding machine industry manufacturers are adopting strategic initiatives, such as product launches, production capacity expansion, mergers, and acquisitions, to siphon more market share and increase their business profitability. For instance, Sumitomo (SHI) Demag is focused on the production of all-electric machines tailored to the needs of the end-use industry. Additionally, the company is expanding its production capacity in Germany to manufacture an increasing number of electric injection molding machines.

Some of the key players operating in injection molding machine industry include ENGEL Group, ARBURG GmbH + Co KG, Haitian Plastics Machinery Group, Sumitomo (SHI) Demag Plastics Machinery GmbH, Husky Injection Molding Systems Ltd., KraussMaffei Technologies GmbH, Milacron LLC, Nissei Plastic Industrial Co., Ltd., The Japan Steel Works, Ltd., Ube Machinery Corporation, Ltd., Polymechplast Machines Ltd., Electronica Plastic Machines Ltd., Multiplas Enginery Co., Ltd., Supermac Machinery, Borch Machinery Co., Ltd., MICRO, and Wittmann Battenfeld GmbH.

The injection molding machine market report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Units and revenue in USD Million from 2017 to 2027 for the following segments:

By Type

  • Plastic IMM
  • Rubber IMM
  • Metal IMM
  • Others

By Position

  • Horizontal
  • Vertical

By Mechanism

  • Hydraulic
  • Mechanical
  • Electrical
  • Hybrid

By End-user

  • Automotive & transportation
  • Construction
  • Consumer goods
  • Packaging
  • Electrical & electronics
  • Others

The above information is provided on a regional and country basis for the following:

By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • Italy
    • Spain
    • U.K
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Indonesia
    • Thailand
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • UAE
    • Kuwait
Authors: Kiran Pulidindi, Akshay Prakash

Frequently Asked Questions (FAQ) :

Injection molding machine industry share exceeded USD 4.4 billion in 2020 and will grow at a CAGR of 4.8% between 2021 and 2027.

Plastic injection molding machines recorded more than 70% of the total industry revenue in 2020 and will expand, driven by extensive product usage in the manufacturing of plastic parts for numerous industries.

Horizontal injection molding machines held more than 80% of the overall injection molding machine market share in 2020 and will grow owing to simple operation and ease of maintenance.

Electric machines accounted for a revenue of USD 1.5 billion in 2020 and will register considerable growth due to the rising demand from electronics, medical, and packaging industries.

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Premium Report Details

  • Base Year: 2020
  • Companies covered: 17
  • Tables & Figures: 315
  • Countries covered: 20
  • Pages: 200
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