Invention of plastic drastically changed the way the global consumer lived, before it. The worldwide rapid penetration of plastic products led to the invention of sophisticated high-end plastic moulding technologies. Injection moulding is the method by which almost all plastic products and parts are manufactured, which vary greatly by size, shape and application. Generally the injection moulding process requires injection moulding machine, plastic raw material and a mold.
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Low cost, flexibility in production, lightweight and high durability are the factors drove the rapid plastic penetration into almost all the applications and end-use industries. The injection moulding solutions market is expected to witness the lucrative growth rate in coming years. The higher demand for plastic products from increasing applications influences the growth of injection moulding solutions market. This market has stakeholders such as injection moulding machine designers and manufacturers, consultants and injection moulding service providers.
Injection Moulding Solutions: Market Dynamics
Injection moulding machine manufactures dominate the overall injection moulding solutions market. Injection moulding solutions market has both organized machine manufacturers as well as unorganized machine manufacturers. The growing demand for plastic products and increasing applications of plastic is stimulating the growth of demand for injection moulding machines. As the processes getting complex and higher need for improving the manufacturing processes and technologies the injection moulding consultancy services market is also growing.
Over the years the growing demand from end users of high-end products like aircrafts, automobiles, medical devices, pharmaceutical and building and construction are influencing the demand for injection moulding consultancy service providers. The market entry of new injection moulding consultancy service providers has grown in last few years. This trend can be largely found in U.S, Germany, Italy, France, U.K, China, Japan and Korea. The need to improvement of manufacturing processes or methods to increase the throughput and efficiency is greatly driving this market.
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The higher completion between injection moulding service providers is the major influencing factor behind this. Even end-use industries also in the greater need of sophisticated injection moulding processes or technologies, which can enhance their production efficiency and improve the quality of end products.
Injection Moulding Solutions: Market Segmentation
The global injection moulding solutions market is segmented on the injection moulding machine type, consultancy services, and end use industries. On the basis of end-use, the global injection moulding solutions market is segmented into aerospace, automotive & mechanical, electronics & semiconductor, medical devices, pharmaceutical, food & beverages, agricultural products, Chemicals, building & construction and others.
On the basis of injection moulding machine type, the global injection moulding solutions market is segmented into hydraulic, all-electric, and hybrid. On the basis of consultancy services the global injection moulding solutions market is segmented into design and development, manufacturing, marketing & distribution, and others. Automobile & mechanical and Medical devices end-use segments are expected to grow at a healthy CAGR over forecast period. By machine all electric type machines are expected to dominate the overall market.