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

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.

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

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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.

During the celebration, Milacron India’s Managing Director, Shirish Divigi, thanked Alpla India for their business and loyalty over the almost two-decade partnership. “As India’s plastics industry continues to grow, Milacron’s Indian operations will continue to excel and offer the industry’s most complete plastics offering.” Divigi added, “The entire Milacron organization is focused on a customer first mentality. We continue to add new value added products and services to better serve our customers in India and across the world. Our customers feel fully supported and connected with our team.”

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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Established in 1995, the Indian plant offers a full range of injection moulding machines from 50-ton to 3200-ton clamping force, with capacity to manufacture 2000 machines per annum.

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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Milacron Holdings Corp. marked a milestone recently with the shipment of the 12,501st injection molding machine from its Ahmedabad, India manufacturing facility.

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.

“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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Milacron India’s Ahmedabad facility completed its most recent expansion in 2016. The expansion allowed Milacron to increase its annual output of 1,500 injection and blow molding machines to 2,100 machines per annum, a 40% increase.

In other news, Milacron’s Mold-Masters product brand recently celebrated its 10th anniversary. Mold-Masters started its Indian operations in 2007 as an engineering center along with a dedicated sales and service team to provide better support to domestic market. The India hot runner operations expanded in 2010 adding a manufacturing plant to become the first global hot runner brand to do so in India. In recent years the Coimbatore, India facility has undergone a number of expansions to better serve the rapidly growing market demands in India and grown over 350 employees. The anniversary was celebrated with a special customer event.

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.

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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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Further, at Plastivision 2017 in January Milacron Extrusion launched the TC Conical Twin Screw extrusion system in the Indian market. The TC’s customized screw designs are matched specifically to the customer process requirements for optimal performance. The TC uses advanced materials of construction, including tungsten coated screws and tungsten clad barrels for maximum wear protection and the lowest possible life cycle costs. Milacron’s breadth of extrusion offerings is all encompassing, from extruders, to new and rebuilt extrusion barrels and screws, to pipe heads, dies and downstream equipment, providing powerful, reliable solutions that meet customers’ unique needs. Milacron’s extrusion solutions are highly customizable and increase productivity, output and accuracy, while reducing costs.

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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.

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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 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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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.

On March 22nd, Milacron’s India manufacturing team presented its 12,501st India manufactured machine. The Milacron Magna Toggle 450 ton 2K machine was handed over  to Vagish Dixit – Managing Director, Alpla India Company, a manufacturer of caps and closures and affiliate of Austria’s Alpla Werke Alwin Lehner GmbH & Co KG.

(Please note that the sample of the Injection Molding report has been modified to include the COVID-19 impact study prior to delivery.)

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/

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.

CMI provides a one-stop solution for data collection to investment advice. The expert analysis of our company digs out essential factors that help to understand the significance and impact of market dynamics. The professional experts apply clients inside on the aspects such as strategies for future estimation fall, forecasting or opportunity to grow, and consumer survey.

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.

Custom Market Insights is a market research and advisory company delivering business insights and market research reports to large, small, and medium-scale enterprises. We assist clients with strategies and business policies and regularly work towards achieving sustainable growth in their respective domains.

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Stephen has been with PlasticsToday and its preceding publications Modern Plastics and Injection Molding since 1992, throughout this time based in the Asia Pacific region, including stints in Japan, Australia, and his current location Singapore. His current beat focuses on automotive. Stephen is an avid folding bicycle rider, often taking his bike on overseas business trips, and is a proud dachshund owner.

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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During the celebration at the Ahmedabad facility, Vagish Dixit stated, “Milacron is a progressive organization with innovation in engineering design and manufacturing. We’re extremely pleased with our partnership with Milacron in India.” Dixit added, “Milacron has fostered our relationship over the last 17 years, when we bought our first injection molding machine. The enthusiasm towards their work and commitment towards customers are the key strengths behind the consistent success of Milacron. The technologies Milacron provides us increase our productivity and the competitiveness of our products.”

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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.

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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.

Milacron CEO Tom Goeke stated, “India is a vital market for Milacron and it continues to impress. Milacron places great importance in the Indian market and we’re uniquely positioned to serve it in ways our competition simply cannot with our ability to deliver the entire spectrum of services to the plastics industry.”

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.

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.