PUBLISHER: Roots Analysis | PRODUCT CODE: 1771412
PUBLISHER: Roots Analysis | PRODUCT CODE: 1771412
As per Roots Analysis, the global injection molding market size is estimated to grow from USD 304.4 billion in the current year to USD 481.6 billion by 2035, at a CAGR of 4.26% during the forecast period, till 2035.
The opportunity for injection molding market has been distributed across the following segments:
Type of Material
Type of Application
Type of End User
Geographical Regions
Injection molding is a widely utilized technique for producing molded items by injecting heated, molten plastics or other materials into a mold. In this process, small pellets or granules are introduced into a heated chamber where they melt. The liquefied material is then injected under pressure into a mold, where it solidifies as it cools. Typically, thermoplastic polymers that can be colored and mixed with other additives are used in injection molding. These plastic components are frequently employed across various sectors, including automotive parts, electronic components, toys, kitchen appliances, and more.
Moreover, the considerable benefits of injection molding, such as high production efficiency, the capability to create intricate shapes, and reduced material waste, drive demand from key end-use industries that heavily depend on these molded parts. Injection molding is particularly favored for its low production cost per unit when manufacturing large quantities of products. As a result, industries like consumer goods and packaging significantly contribute to the growth of the injection molding market. Additionally, it is increasingly utilized for producing containers, packaging for food and dairy items, and closures for beverage bottles.
This trend has encouraged more companies to invest in the injection molding market and focus on strategic acquisitions. Owing to the rising demand for automotive components and plastic products, along with the expansion of the packaging sector, the injection molding market is expected to increase during the forecast period.
Based on type of material, the global injection molding market is segmented into elastomers, metals and plastics. According to our estimates, currently, plastics segment captures the majority share of the market. The growth of this segment is driven by polypropylene's versatility, light weight, and cost-effectiveness, making it widely used in various applications ranging from packaging and consumer products to automotive components.
However, the metal segment is expected to grow at a relatively higher CAGR during the forecast period, due to the ability of metals to produce complex and detailed parts necessary for industries such as aerospace, automotive, medical, and electronics.
Based on type of application, the injection molding market is segmented into containers, construction materials, electronics & appliances, engines, exterior components, interior components, medical devices, toys, and others. According to our estimates, currently, container applications captures the majority of the market. This can be attributed to their crucial role in the packaging industry, and the increased demand from the food and beverage sector.
However, the interior components, such as dashboards, door panels, seat frames, consoles, and others are expected to grow at a relatively higher CAGR during the forecast period, due to the high demand in the automotive sector.
Based on type of end user, the injection molding market is segmented into aerospace and defense, agriculture, automotive, building & construction, consumer goods, electronics, healthcare, packaging, and others. According to our estimates, currently, packaging segment captures the majority share of the market. This can be attributed to the high demand for mass production of items in large quantities from the packaging industry. Additionally, the need for customization and design flexibility in a cost-efficient manner contributes to the growth of this segment.
Based on geographical regions, the injection molding market is segmented into North America, Europe, Asia, Latin America, Middle East and North Africa, and the rest of the world. According to our estimates, currently, North America captures the majority share of the market. However, market in Asia Pacific is expected to grow at a higher CAGR during the forecast period, primarily due to swift industrialization and the increasing adoption of Industry 4.0 across various sectors within the region.
The report on the injection molding market features insights on various sections, including:
4.2.2. Currency Coverage