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Its features include great production efficiency, reproducibility, and the capacity to generate complicated geometries, making it one of the most preferred processes for producing plastic parts.

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By region, Injection Molding market is segmented into North America, Europe, Asia-Pacific, Latin America, the Middle East & Africa. The Asia-Pacific dominated the global Injection Molding market in 2023 with a market share of 44% and is expected to keep its dominance during the forecast period 2024-2033.

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Injection moulding provides low-cost, customizable options for creating high-quality packaging components that satisfy varied market demands effectively.

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The chemicals titan is selling the business to Knauf Industries, a manufacturer of complex molded parts made of expanded polypropylene foam.

“According to the latest research study, the demand of global Injection Molding Market size & share was valued at approximately USD 278.3 Billion in 2023 and is expected to reach USD 285.5 Billion in 2024 and is expected to reach a value of around USD 431.6 Billion by 2033, at a compound annual growth rate (CAGR) of about 5.1% during the forecast period 2024 to 2033.”

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Furthermore, there is an increasing desire for product customization and personalization, which is driving the introduction of technologies such as 3D printing and digitalization in injection molding processes. Furthermore, there is a noticeable move towards durable and lightweight materials in industries including automotive and aircraft to increase fuel economy and performance.

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By material, the plastics segment held the highest market share in 2023 and is expected to keep its dominance during the forecast period 2024-2033. Plastics are the key material driving the injection moulding market because of their versatility, low cost, and wide range of applications in sectors like as automotive, packaging, electronics, and consumer products, resulting in strong demand for injection moulding services.

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EVCO Plastics, located in De Forest, Wisconsin, is a well-known manufacturer of injection moulded plastics goods and services. Having a strong focus to quality, innovation, and client satisfaction, have proven a dependable partner for organizations looking for plastic options.

In conclusion, the Asia Pacific region’s robust manufacturing ecosystem, cost advantages, growing consumer demand, and supportive policies collectively underpin its significant contribution to driving the injection moulding market forward.

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To lessen the environmental effect of injection molding operations, manufacturers are progressively adding biodegradable and recyclable materials. Another trend is the use of modern technologies like automation, robots, and artificial intelligence to improve efficiency, accuracy, and productivity in industrial operations.

Austin, TX, USA, April 23, 2024 (GLOBE NEWSWIRE) -- Custom Market Insights has published a new research report titled “Injection Molding Market Size, Trends and Insights By Material (Plastics, Metals, Others), By Application (Packaging, Consumables & Electronics, Automotive & Transportation, Building & Construction, Medical, Others) and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033” in its research database.

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Injection moulding is a high-volume production method for plastic components and products. It entails injecting molten material, usually thermoplastic polymers, into a mould cavity at high pressure.

BASF has entered into an agreement to divest its Neopolen expanded polypropylene (EPP) business to Knauf Industries GmbH. Neopolen enables the manufacturing of lightweight molded parts for the automotive industry, as well as for heating and air conditioning applications. Knauf Industries is a leading European manufacturer of complex molded parts made of EPP foams and other materials and employs more than 2,000 people in eight countries. Its customer base is primarily in the automotive, air conditioning, and sports & leisure industries.

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The competitive landscape includes key innovators, after market service providers, market giants as well as niche players are studied and analyzed extensively concerning their strengths, weaknesses as well as value addition prospects. In addition, this report covers key players profiling, market shares, mergers and acquisitions, consequent market fragmentation, new trends and dynamics in partnerships.

Asia Pacific’s thriving manufacturing sector is powered by the existence of a wide range of sectors, including automotive, electronic devices, consumer products and packaging. These sectors rely extensively on injection moulding to produce a wide range of components and products, including sophisticated car parts and electronic housings.

Browse the full “Injection Molding Market Size, Trends and Insights By Material (Plastics, Metals, Others), By Application (Packaging, Consumables & Electronics, Automotive & Transportation, Building & Construction, Medical, Others) and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033” Report at https://www.custommarketinsights.com/report/injection-molding-market/

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April 23, 2024 13:30 ET | Source: Custom Market Insights Custom Market Insights Austin, TX, USA

The Asia-Pacific region dominates the injection moulding market because of its strong production sector, cost-effectiveness, skilled labour pool, rising consumer demand, and supporting government policies that foster industry expansion and innovation.

Furthermore, the region’s fast growing middle-class population and rising disposable incomes have boosted demand for consumer items and automobiles, increasing the need for injection-moulded components. This rising consumer base has led firms to increase production capacity, driving up demand for injection moulding machines and services.

Furthermore, the Asia Pacific area provides a competitive edge in terms of cost-effectiveness and labour availability, making it a desirable location for industrial operations such as injection moulding. Lower labour costs, along with technological improvements, have resulted in the growing usage of automation and robots in injection moulding operations, hence increasing efficiency and lowering production costs.

By application, the packaging segment held the highest market share in 2023 and is expected to keep its dominance during the forecast period 2024-2033. Packaging drives the injection moulding market since it is widely used in a variety of sectors, including food, beverage, healthcare, and consumer products.

CMI has comprehensively analyzed the Global Injection Molding market. The driving forces, restraints, challenges, opportunities, and key trends have been explained in depth to depict an in-depth scenario of the market. Segment wise market size and market share during the forecast period are duly addressed to portray the probable picture of this Global Injection Molding industry.

“With Knauf Industries we have found an excellent partner who will strategically continue the Neopolen business,” said Mia Pettersson, head of the global specialty polymers business unit at BASF. “The future of the EPP business can best be secured by selling it to a company that offers synergies with other foams and a forward integration into component production. Under the ownership of Knauf Industries — a leading player in the foam industry — the Neopolen business will be well positioned to realize its full potential,” said Pettersson.

The transaction includes, among other things, a production plant at the BASF site in Schwarzheide, Germany, along with the products, intellectual property, customer and supplier contracts, and trademark rights. About 40 employees at the site are affected. Pending potential approvals by relevant merger control authorities, closing of the transaction is expected by March 31, 2024.

Several worldwide factors are influencing the injection molding market’s future trajectory. One noticeable trend is the growing need for sustainable and eco-friendly products and procedures, which is being driven by increased environmental awareness and laws.

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“The Schwarzheide site is an attractive location with an integrated infrastructure and dedicated employees with great experience and a lot of know-how, especially in our Neopolen plant,” said Anne Francken, managing director and director of industrial relations at BASF Schwarzheide GmbH. “It was important for us to secure jobs in the Neopolen plant in the long term and to preserve synergies at the site. We are very much looking forward to working with Knauf Industries at our site.”The acquisition of the BASF EPP business expands Knauf’s foam portfolio for different industries by adding technical expertise and experienced employees and fits perfectly into its growth strategy, said Knauf.

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Moreover, supporting government efforts and favourable regulatory policies aimed at fostering manufacturing and industrial growth have helped to grow the injection moulding market in the Asia Pacific region. These measures include incentives for foreign investment, infrastructure development, and talent building programmes, all of which help the injection moulding business prosper.

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