In terms of value, the plastic injection molding machine market is estimated to grow from USD 9.5 billion in 2022 to USD 11.6 billion by 2028, at a CAGR of 3.4%. A plastic injection molding machine is a type of machinery used in the manufacturing industry to produce plastic parts or products through the process of injection molding. Injection molding is a manufacturing process in which molten plastic material is injected into a mold cavity, where it cools and solidifies to form the desired shape. There are two main parts, one is injection unit and the other is clamping unit.
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The key players profiled in the report include Haitian International Holdings Limited (China), Chen Hsong Holdings Ltd. (China), Engel Austria GmbH (Austria), Sumitomo Heavy Industries Limited (Japan), Hillenbrand, Inc. (US), Japan Steel Works Ltd. (Japan), Arburg GmbH (Germany), Nissei Plastic Industrial Co., Ltd. (Japan), Husky Injection Molding Systems Ltd. (Canada), and KraussMaffei Group GmbH (Germany). The Plastic injection molding machine market is witnessing growth in the past few years; new technologies drive the growth of this market. Market players are introducing new technologies and features to acquire larger market shares.
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Haitian International Holdings Limited is one of the largest manufacturers of plastic injection molding machines across the globe. The company exports its products worldwide as well as caters to the domestic demand by engaging in new and advanced product development. It has a strong product portfolio and serves various industries across various regions. The company is majorly fovcused on the expansion of its business in various regions. Zhafir Plastics Machinery, a subsidiary of Haitian International Holdings Limited, opened a new plant in Ningbo, China. The plant has a production area of around 120,000-meter square and the capacity to manufacture 5,000 all-electric injection molding machines per year. This expansion helped the company expand its presence in China.
Chen Hsong Holdings Limited is one of the leading plastic injection molding machine manufacturers across the globe. The company has a customer base in 90+ countries, including China, Taiwan, the US, Canada, France, the UK, Germany, Turkey, India, Brazil, Argentina, and Mexico. Chen Hsong Holdings Limited is engaged in expanding its presence across the globe and caters to potential markets. The company opened its new subsidiary, Chen Hsong Europe B.V., in the Netherlands in 2016. This expansion helped them strengthen its position in Europe and significantly expand the agency network.
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The Asia Pacific region stands as the largest and most rapidly expanding market for plastic injection molding machines. It’s fueled by the widespread utilization of plastic packaging, particularly in countries like China and India, where the food and beverage industries play pivotal roles. Recent years have witnessed a surge in innovation and technological advancements within the packaging sector, bolstering various production segments such as agriculture and fast-moving consumer goods (FMCG). With a growing emphasis on energy efficiency and environmental sustainability, industries are increasingly embracing all-electric machines to adhere to stringent regulations. These machines not only align with sustainability objectives but also enable companies to meet the standards mandated by regulatory bodies and certifications. These converging factors propel the demand for plastic injection molding machines across the Asia Pacific region.
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