Information and Facts regarding Global trade of injection molding machine
Injection moulding machines have a role play in producing multidimensional Complex products through plastics and other raw materials. The plastic Polymers are widely used as the raw material by the injection moulding machines. Not to mention, injection moulding machinery acquires a significant part in the plastic processing industry.
During 2016, the Global trade for injection molding machines was unstable because of certain factors that included Currency exchange rate and political disturbances. Also, China and other developing economies contributed to the low pressure on injection moulding machinery. Luckily, by the end of 2016, there was a remarkable growth in the demand of plastic injection moulding machines. The demand specifically rose from packaging and the automobile industry. This resulted in a positive growth Trend.
Global trade for injection molding machines in numbers :
In 2017 alone, the injection moulding machine market had a value of USD 16.7 to billion . It is expected to reach USD 19.68 billion by the end of 2023. Injection moulding machines have a role play in manufacturing products made out of ceramic, rubber, metal and plastic. There are two main parts that include the injection unit and the clamping unit.
Injection moulding machines are all about great accuracy during the manufacturing of different products. They offer great flexibility and low consumption of energy during the entire process. The machines are quite worthwhile in producing a wide range of products using different methods.
Different varieties of injection molding machines include –
- Hydraulic injection
- All electric injection moulding machine
- Hybrid injection molding machine
Heightened demand from packaging industry:
As there is higher demand for consumer goods, the Packaging industry is exponentially rising. This further induces the demand for different packaging Technology. Different industries are regularly demanding sustainable packaging methods to keep their product safe. As People are spending more on packaged goods, there is a natural increase in the demand for injection moulding machines. Injection moulding is commonly used for packing plastic products such as containers and cups. China and India are receiving higher demand for plastic pakaging
Uneconomical for small scale production
When we talk about Global trade of injection moulding machine, we must remember that the process is economical specifically when it comes to large production capacity. The higher cost of the moulds require Steel for production. A single unit of injection moulding machine is used to manufacture tiny polymer components having differentiated shapes. The process involves expensive tooling which needs the users to go for large scale production in order to reduce the price of per unit production.
Growth in automotive industry:
One of the main reasons why injection moulding machines are in significant demand nowadays is because they are used in the construction of bumper, rear bumper, still cover, lighting systems and different Automotive parts. Higher demand for automobiles contributes to the consecutive sale of injection moulding machines.
The current scenario:
Global trade of injection molding machines continues to increase. It is expected to reach USD 21.4 billion by 2026. Using an injection molding machine is not a new concept. It has always existed and catered the user demands. However, recently the trend increased to higher levels as a result of globalization. Different machines will operate electrically and hydraulically. With different varieties of injection machines available, they serve a large variety of industries which lead to their significant growth.
Higher demand from developing countries, technological advancement and energy efficient methods of packaging contribute to the rising demand and Global trade of injection molding machines.
After qualitative and quantitative research, it is finally derived that the growth rate of Global trade of injection molding machines will continue to rise in the upcoming years as well. Manufacturers need to reduce packaging cost by focusing on mass production.