Injection Molding Materials Market, By Material Type (Plastics, Metal, Ceramics, Rubber, Others), By Machine Type (Hydraulic Injection Molding Machine, All-Electric Injection Molding Machines, Hybrid Injection Molding Machines), By End Use Industry (Automotive, Consumer Goods, Packaging, Healthcare, Electrical & Electronics, Building & Construction, Furniture, Others), By Region (North America, Latin America, Europe, Asia Pacific, Middle East, Africa)- Size, Share, Outlook, and Opportunity Analysis, 2023 - 2030
The global injection molding materials market was valued at US$ 271.6 Billion in 2022 and is expected to exhibit a CAGR of 5.57%, in terms of revenue and expected to reach at US$ 419.1 Billion over the forecast period (2023 – 2030).
The manufacturing process for producing parts by inserting a material into a mold, which allows creation of varied shapes and sizes of an object is known as injection molding process. Injection molding can be achieved with a host of components consisting of metals, elastomers, glasses, confections and polymers. Injection molding is used to produce a wide range of products made from various raw materials, including plastics, metals such as iron, aluminum, copper, precious metals, and carbide.
Market Dynamics
Asia Pacific was the largest market for injection molding materials in 2022 and is expected to retain its dominance during the forecast period. The high demand for vehicles is expected to result in an increase in demand for injection molding, thus, leading to growth of the global injection molding materials market. Foreign and domestic investments in various sectors is a major driving factor for the market growth in Asia Pacific.
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