According to a new research report by the United States BCC Research Institute (located in Wellesley, Massachusetts, USA), as an important industry in the field of plastic processing-the injection molding industry shows no signs of slowing growth. In almost all market segments, from automotive and aerospace to toys and medical equipment industries, products are manufactured using injection molding.
According to this report entitled "Injection Molding: Global Markets and Technologies through 2023" (Injection Molding: Global Markets and Technologies in 2023), the global plastic injection molding market was valued at USD 117 billion in 2017; by 2023, this is expected to be A figure will reach US $ 233 billion, which is equivalent to a compound annual growth rate of 10.9%.
The report said that the growing demand for packaging, food and beverage and other vertical industries is expected to promote the development of the injection molding industry. One of the strong growth areas is the medical equipment field, which accounts for 18.7% of the plastic injection molding market. Strong growth is expected for some time to come, as health care will become an increasingly important part of household spending, especially for developed countries facing population ageing.
In terms of materials, because recycling of expanded polystyrene (EPS) products is becoming more and more popular, it is expected that the global demand for polystyrene will increase at a faster rate in the next few years.
In the coming years, innovations in the automotive sector and plastic substitutes for metal parts are expected to continue to develop. In addition, advances in technologies such as "smart surfaces" and 3D printing tools, as well as external autonomous driving sensors, will also help the development of the injection molding industry.
Christopher Maara, an analyst at BCC Research Institute and author of the report, said, "With the continued growth of the plastic injection molding market, innovations in resin selection, injection molding machinery and processing technology will continue to increase. As new resins with improved properties appear , Injection molding personnel can make new designs with different properties in a more energy-efficient and economical way. "