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Metal Molds Market for Plastic Injection Molding Size, By Material (Steel, Aluminum), By Manufacturing Process (Standard/CNC Machining, Electric Discharge Machining), By Application (Packaging [Pharmaceutical, Beauty & Personal Care, Food & Beverage] Automotive; medical, Electronics, Construction), Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Landscape & Forecast, 2021 – 2027

  • Report ID: GMI4904
  • Published Date: Jan 2021
  • Report Format: PDF

Industry Trends

Metal Molds Market for Plastic Injection Molding size was valued at USD 4.16 billion in 2020 and is estimated to exhibit a CAGR of over 3.4% from 2021 to 2027. A hollow metal block into which molten plastic is injected to form a particular fixed shape is known as a mold. Growing product penetration in automotive sector will be a chief driver augmenting the product consumption in coming years.

In light of strict environmental regulations, automobile OEMs are shifting from metals to plastics as an effective solution to minimize automotive weight and increase fuel efficiency. Replacing metal components with identical lightweight injection molded plastic parts that are just as durable as metal components will help with fuel efficiency, operational cost reductions, and emission requirements. Injection molding is generally used in the production process of plastics due to its ability to mass produce high-quality and consistent parts from a board range of plastics. Plastic injection molding has become a staple in the automotive industry.

Metal Molds Market Statistics

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Various advantages associated with injection molding specifically for automotive applications include repeatability, scale & cost and fast prototype with rapid tooling. In the automotive industry, the capability to develop identical parts is very crucial. As plastic injection molding usually relies on metal molds, the components produced using metal molds are virtually identical. If these metal molds are well designed and developed, the injection molding process can be easily repeated.

The injection mold making procedure is quite expensive. It is a highly scalable process where the overall cost reduces as more parts are manufactured. For the mass production of automotive plastic components, injection molding is important to manufacturers as its tools can minimize the cost efficiency of the process.

On the other hand, fluctuating raw material prices coupled with growing environmental regulations may hinder the metal molds market demand for plastic injection molding in near future. Preventive measures such as restrictions on international trades and mobility of people, partial shutdown of manufacturing facilities, supply chain disruption resulted due to the ongoing COVID-19 pandemic will also hamper the product consumption.

Steel will be the majorly used material

Metal Molds Market by Material

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In 2020, steel molds generated over USD 3 billion in metal molds market for plastic injection molding market size as these are able to produce millions of high-quality plastic parts. Hardened or pre-hardened grades of steel can improve longevity, primarily with abrasive materials. Complex features have a difficult time withstanding high forces involved in molding. Steel molds have an excellent balance of machinability, cost, and strength.

Steel molds have lower maintenance cost, thus increasing uptime and reducing operational cost. Traditionally, small plastic parts injection molding are performed basically with steel molds. Various grades of steel used in steel molding are hardened steel, pre-hardened steel, tool steel, and 420 stainless steel.

Standard/CNC machining g will be the most preferred process

CNC machining held over 75% share in 2020 metal molds market. These can used in plastic injection molding mold making or prototype mold making. CNC machining are sorted by its machining movement directions which includes 3-axis CNC machining, 4-axis CNC machining, 5-axis CNC machining, and 6-axis CNC machining. CNC machines with more axis can manufacture more complicated parts.

Most CNC machines provide accuracy of +/-0.05mm, while more accurate ones can provide with +/-0.02mm and even better. The machining stability, accuracy, and surfacing finish are important criteria for CNC machine. For most of the plastic injection mold making, 3-axis CNC machines are sufficient.

Packaging will be the leading application segment

Metal Molds Market by Application

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Packaging segment will witness over 3.5% CAGR owing to growing usage of plastic products. Packaging products are flexible, lightweight, durable, need low carrying cost and handling, and are extensively used for packaging products such as food & beverages, consumer products, and chemicals. Moreover, the demand for aseptic packaging is growing in the food industry due to the significant growth of the dairy market. Rapid urbanization, rising income levels, and the growing awareness of the health benefits of dairy products will further boost the metal molds market sales for food packaging products.

The growing demand for small packaging is delivering a strong push to the demand for packaging products in the food & beverage industry. The incorporation of active & intelligent systems into the food & beverage packaging is also expected to help the metal molds market in the coming years. The food industry is heavily regulated to ensure the adherence to safety standards in industrial process components, containers, and other parts.

Manufacturers usually use food-grade plastic products for part design & construction, including plastic injection molding. To produce packaging products with complex design and forms and identical products with low risk of error, plastic injection molding is used. The growing food & beverage packaging industry will further propel the metal molds market revenue for plastic injection molding.

Asia Pacific to dominate the industry size

Metal Molds Market by Region

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Asia Pacific metal molds market will generate over USD 2.5 Billion by 2027. The rise in infrastructure spending along with the increasing automobile demand in the emerging countries including India, China, Thailand, and Indonesia is estimated to drive the regional metal molds for the plastic injection molding industry in the region. Major end-use industries including automobile, electronics, and personal care are shifting their manufacturing base to the Asia Pacific region due to low labor costs and lenient labor laws.

Government incentives in the form of tax subsidies are offered to manufacturers in these regions. This factor increases the need for manufacturing various electrical parts and automotive, which is anticipated to drive the regional metal molds market growth for plastic injection molding over the forecast time frame.

Partnership, production capacity upgradation and geographical expansion to augment the industry foothold

Key participants in the metal molds industry for plastic injection molding are MSI Mold Builders Inc.; Enko AS; ERMO S.A.; Bunty LLC; The Rodon Group; Colonial Machine; Bericap GmbH & Co. KG; JBJ Technologies Ltd; Michiana Global Mold, Inc.; Wayken Rapid Manufacturing Limited; CS Tool & Engineering; GENSINI S.R.L.; Troqueles y Moldes de Galicia, S.A. (Tromosa); Forum Plastics LLC; Accede Mold & Tool Co., Inc.; Jade Group INTL; Intertech and Engel Austria GmbH. Key end-users prefers to enter in a long-term agreements with the product manufacturers for ensuring the efficient product supply.

Major industry players have adopted aggressive strategies such as geographical expansion, partnerships and production capacity upgradation to strengthen their market position. In August 2020, Engel Austria GmbH established a new sales & service office along with a training center located in Oostakker near Ghent, Belgium. The new office will deal with the increasing demand for products from European and North American clients. In August 2018, ERMO S.A. partnered with RK Ferramentaria, a Brazil-based company. This partnership enabled the company to meet the demands of after-sales service, maintenance, design, development, & manufacturing of new molds and quality & innovation requirements.

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

By Material

  • Steel
  • Aluminum
  • Others

By Manufacturing Process

  • Standard/CNC machining
  • Electric discharge machining

By Application

  • Packaging
    • Pharmaceutical
    • Beauty & personal care
    • Food & beverage
    • Others
  • Automotive
  • Medical
  • Electronics
  • Construction
  • Others

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

By Region

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

Frequently Asked Questions (FAQ) :

The global industry for metal molds from plastic injection molding was over USD 4.16 billion in 2020 and is anticipated to witness around 3.4% CAGR over the forecast period 2021-2027.

The steel molds segment in the market was valued at more than USD 3 billion during 2020 and will grow further due to the ability to produce millions of plastic components with improved longevity.

CNC machining segment accounted for more than 75% share 2020 owing to the accuracy, stability and enhanced surface finish provided.

The industry share from the packaging segment is expected to register over 3.5% CAGR up to 2027 with the increased demand for lightweight, durable, and flexible plastic packaging.

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Premium Report Details

  • Base Year: 2020
  • Companies covered: 18
  • Tables & Figures: 272
  • Countries covered: 22
  • Pages: 190

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