Plastics Injection Molding Machine Market Size To Reach USD 11.73 Billion in 2028
The global plastic injection molding machine market size is expected to reach USD 11.73 Billion in 2028 registering a CAGR of 3.1% over the forecast period, according to a latest report by Reports and Data. Major factor driving market revenue growth are increasing plastic injection molding machine demand from the packaging, medical, and electronics sectors along with the rising need for replacements in the automotive industry.
By pumping molten materials into a mold, an injection molding machine creates pieces. Injection molding is an important part of the plastic processing industry since it is a good way to mass produce complex shapes. Metals (also known as die-casting), glasses, elastomers, and confections are the most widely utilized materials, with thermoplastic and thermosetting polymers being the most common. An injection molding machine can produce a wide range of product sizes, from the smallest component to the full car body. Furthermore, injection molding is the most widely used modern way of producing plastic parts.
Around the world, people are becoming more aware of the importance of conserving energy. As a result, demand for injection molding machines is expanding. Plastic injection molding machines that are powered by electricity are the most popular. The major reasons are its numerous benefits, which include energy savings, enhanced precision and reusability, inexpensive maintenance, and high speed. In terms of efficiency, dependability, cost savings, cycle time savings, and reusability, electric injection molding machines surpass hydraulic machines. When compared to traditional hydraulic machines, they can save up to 70% of energy. They use digital control methods to operate. As a result, mechanically powered components are used in electric injection molding machines. Because they use less power, they have a lower operational cost. In electric injection molding machines, there is no risk of fluid leakage or misting, which decreases the risk of material and surface contamination.
Read more: Plastics Injection Molding Machine Market Size To Reach USD 11.73 Billion in 2028