“The acquisition of PMT allows us to expand our footprint within the injection molding sector,” said group CEO Michael Engler. “We now can serve customers from multiple strategic locations, each with a highly skilled workforce and 95 total molding machines ranging from 20 to 500 tons. PMT diversifies our customer base, and also provides the platform for continued growth.”

Editor in chief of PlasticsToday since 2015, Norbert Sparrow has more than 30 years of editorial experience in business-to-business media. He studied journalism at the Centre Universitaire d'Etudes du Journalisme in Strasbourg, France, where he earned a master's degree.

Tide Rock Holdings has added another asset to its plastics manufacturing portfolio with the acquisition of Plastic Molding Technology (PMT). A full-service precision injection molding company located in El Paso, TX, PMT joins Pikes Peak Plastics and Altratek, which the San Diego–based holding company purchased in November 2021, in a new plastics injection molding group that serves the industrial, energy, electronics, medical, telecommunications, and automotive industries.

A vital characteristic of the injection-molding process is its capacity to use many types of plastic to make plastic things simultaneously. Manufacturers may use thermoplastics, thermosetting, or a combination of elastomers in injection molding to get the needed properties. This technique allows for producing more complicated objects with various forms and motifs. In addition, once the mold is prepared, the manufacturer can adjust the component's material and color. This factor is projected to drive the global market for injection molding machines. In addition, injection molding helps to reduce manufacturing waste. The majority of polymers produced by injection molding are recyclable.

In addition to the aforementioned companies, Tide Rock’s plastics manufacturing and electro-mechanical contract manufacturing portfolio includes Interconnect Solutions Co. and Plastics Design and Manufacturing.

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New York, United States, March 12, 2024 (GLOBE NEWSWIRE) -- Injection molding is a mechanism that allows for the mass production of components. It operates by injecting molten materials into a mold. It is typically employed in mass production to manufacture thousands of similar things. Components produced by injection molding include metals, glassware, elastomers, and confections. Although thermoplastic and thermosetting polymers are the most common, other polymers exist. The real benefit of injection molding is its mass manufacturing capability. After initial costs are accounted for, the unit cost of injection-molded items is extraordinarily cheap. The ingredients, such as synthetic resins (plastics), are heated and melted before they are put into the mold and cooled to form the desired shape. This process is referred to as injection molding because it resembles the injection of fluids using a syringe. Materials are melted and poured into the mold, where they solidify before being removed and completed.

Straits Research is a market intelligence company providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision-makers. Straits Research Pvt. Ltd. provides actionable market research data, especially designed and presented for decision making and ROI.

Europe will hold the second largest market share and is expected to grow at a CAGR of 4.9% during the forecast period. Due to their high quality and energy efficiency, there has been a surge in the usage of all-electric injection molding machines in Europe. In addition, major market participants are spending considerable effort to deliver injection molding machines that fulfill the requirements of their clients by supplying customized and machine-type-based machines. Europe's economic expansion has led to a larger consumer market, indirectly benefiting the injection-molded plastics industry. In addition, the growth of the packaging, automotive, and electrical appliance industries is expected to increase the need for injection-molded plastics, boosting the market for injection molding equipment in Europe.

During the past couple of years, PMT has made considerable investments in its business and, as of September, forecast a double-digit increase in sales in 2021. Last year, it took delivery of 10 new injection molding machines — an outlay of close to $1 million — to support key customers in the telecommunications, medical device, and electrical sectors. In 2020, it expanded its footprint in El Paso by 39,000 square feet for a total of almost 100,000 square feet. The previous year it made a million-dollar investment in new vertical and horizontal presses.

March 12, 2024 10:35 ET | Source: Straits Research Private Limited - Reed Intelligence Straits Research Private Limited - Reed Intelligence

Asia-Pacific's injection molding machines market share will grow at a CAGR of 6.3% during the forecast period. Due to the region's expanding demand for injection-molded plastics, it is projected that China, India, and Indonesia will contribute to expanding the Asia-Pacific injection molding machine market. This is due to the expansion of the packaging industry. In addition, significant companies such as NISSEI Plastic Industrial Co. Ltd. and Japan Steel Works Ltd. are employing various strategies, such as cooperation, acquisition, and others, to accelerate the expansion of the market.

Advantage of Low Labour Cost and Mass Production Along with Material Flexibility and Low Production Waste to Drive the Global Injection Moulding Machines Market

The acquisition joins Pikes Peak Plastics and Altratek in a new plastics injection molding company serving the industrial, energy, electronics, medical, telecommunications, and automotive industries.

Tide Rock said in the news release announcing the acquisition of PMT that it will continue to actively invest across sub-component manufacturing industries, in addition to other manufacturing, distribution, business services companies.

Certified to ISO 9001, ISO 14001, and IATF 16949, PMT manufactures precision-engineered, injection-molded plastic components and provides single-source molding from initial customer design to high-volume production. The company has nearly 50 years of experience serving an array of markets, including electrical, telecommunications, medical device, and automotive. Charles A. Sholtis, former owner and CEO of PMT, will stay on as an advisor to the company, said the announcement.

Increasing production rates and rapid injection molding output are predicted to boost global injection molding machines market growth. In addition, injection molding allows for producing plastic components with various finishes, including light texture, medium texture, pad printed, smooth, and screen printed. Consequently, it is projected that cheap labor costs and mass manufacturing associated with injection molding machines will promote market growth.

Utilizing injection molding machinery permits the actual mass production of injection-molded plastic components. The injection molding machine is the most effective and energy-efficient way of mass-producing plastic products. The rise of the global injection molding machines market is propelled by the multiple qualities of injection molding machines, such as their durability, user-friendliness, higher manufacturing rates and rapid production, and high quality. Rapidly increasing industrial investment and robust demand for injection-molded polymers in the automotive and healthcare industries are driving the expansion of the global injection molding machine market. In addition, industry leaders' manufacturing of energy-efficient, fully automated injection molding equipment stimulates the expansion of the injection molding market. Market participants provide injection molding machines in numerous sizes and designs to meet customers' needs.

According to Straits Research, “The global injection molding machines market size had a market share of USD 10,724 million in 2021, expected to advance to USD 16,964 million with a CAGR of 5.9% during the forecast period.” Injection molding is an automated process in which an automatic tool operates efficiently on an injection molding machine. Machines and robots perform the majority of injection molding. These persons are solely accountable for overseeing and managing the process. This automation reduces the labor costs of the process. This drop in labor expenditure is predicted to reduce the cost of manufacturing plastic components. In addition, injection molding can make many identical components every hour.

“PMT built a solid foundation as a solutions provider over nearly five decades,” said Sholtis. “I look forward to having the ability to expand our capabilities and capacity as a made-in-USA manufacturer. We have a longstanding reputation as a leading technical injection molder, from our beginnings as a family-founded business in New England to our relocation in 2003 to the US/Mexico border region. We decided to partner with Tide Rock to be able to achieve the next level of growth,” said Sholtis.