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Keywords of this article:  injection molding 
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automotive 
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packaging 
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injection mold 
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Global IMM market share, by end use.
Global IMM market share, by end use.
Photo: 12

The global injection molding machine (IMM) market size accounted for US$ 17.05 billion in 2017 and is estimated to expand at a CAGR of 3.5% by 2025, according to a report by Grand View Research.

Growing demand for lightweight and durable products coupled with increasing adoption from automotive and packaging industries is likely to driver this growth over the forecast period (2018 – 2025).

Manufacturers are focusing on developing equipment that reduce production and maintenance costs, provide production flexibility, and reduce wastage and production time. Introduction of new processes, such as gas assisted, foam, co-injection, and multiple component is anticipated to create demand.

Plastics IMM dominates revenue share

On the basis of materials, IMM market is segmented into plastics and metals. Plastics emerged dominant in terms of revenue share and was valued at US$ 12.99 billion in 2017. Plastic molded products have numerous applications in industries, such as, electronics, healthcare, consumer goods, and packaging.

Hydraulic IMM holds the highest market share

On the basis of technology, IMM are segmented into hydraulic, electric, and hybrid.

Hydraulic IMM segment held the highest market share in 2017. The equipment is best suitable for applications requiring high clamping force to hold the mold at high pressure. They are mostly preferred in automobile, mining, and construction industries where large and heavy parts are manufactured.

Electric IMM is likely to gain momentum over the forecast period. These machines are digitally controlled by high speed servo motors, have high precision, are faster and highly energy efficient in operations. In terms of revenue, this segment is estimated to expand at the fastest CAGR of 5.7% from 2018 to 2025.

Hybrid machines combine the advantages of both hydraulic and electric molding. It allows high clamping force with high precision, productivity, and energy efficiency.

Automotive: The major end use segment

Based on end use, the industry has been segmented into automotive, consumer goods, packaging, and electronics. The automotive is the major application segment, holding the highest market share. Rising importance of lightweight materials in automotive industry is expected to boost use of plastic materials in automotive component manufacturing, which, in turn, will drive the market.

In 2017, consumer goods were valued at US$ 3.50 billion. Rising application for manufacturing convenience goods, cosmetics products, houseware, and personal hygiene products is anticipated to bode well for segment growth in near future.

In terms of revenue, electronics was valued at US$ 2.79 billion in 2017, and is predicted to expand at a CAGR of 3.84% over the forecast period.

Asia Pacific to lead the global market

Asia Pacific is estimated to lead the global market over the forecast period. The region accounted for 36.81% market share in terms of revenue, in 2017. China and India are among the largest regional markets anticipated to influence the global IMM industry during the forecast period. Growing urban and rural population, rapid pace of urbanization, and foreign investments have propelled regional demand for automotive, consumer goods, and electronics industries.

Europe comprises major countries including Germany, France, Italy, Spain, Denmark, and Austria. Europe was the second largest region in terms of revenue, with 29.01% market share in 2017, owing to high demand from numerous end-user industries.

In the global IMM market, the US is one of the major consumers. Demand from import of machinery is majorly driven by automotive industry, owing to inclination towards producing advanced and aesthetically improved products.

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