Injection Molding Machine Market worth $19.68 Billion - Global Forecast to 2023

[165 Pages] Injection Molding Machine Market categorizes the global market by Product Type (Plastic, Rubber, Metal), Machine Type (Hydraulic, All-Electric, Hybrid), End-Use Industry (Automotive, Packaging, Consumer Goods), Clamping Force (0-200, 201-500,

(EMAILWIRE.COM, November 15, 2018 ) According to the new market research report “Injection Molding Market by Product Type (Plastic, Rubber, Metal), Machine Type (Hydraulic, All-Electric, Hybrid), End-Use Industry (Automotive, Packaging, Consumer Goods), Clamping Force (0-200, 201-500, Above 500) - Global Forecast to 2023”, published by MarketsandMarkets™, the injection molding machine market is projected to reach USD 19.68 billion by 2023 from an estimated USD 17.08 billion in 2018, at a CAGR of 2.9% between 2018 and 2023.

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Emerging economies are expected to witness a rise in demand for injection molding machines in the near future due to the rising demand for injection-molded parts from the packaging, automotive, and consumer goods end-use industries. The need for lightweight automotive components to attain fuel efficiency and the rising demand for all-electric injection molding are expected to support the injection molding machine market during the forecast period. Rapid economic growth, improved infrastructure, and rising middle-class population in emerging economies have led to an increase in vehicle production and sales, which, in turn, has increased the demand for injection molding machines. The rapidly growing automotive industry in the Asia Pacific region is one of the major factors driving the growth of the injection molding machine market.

The plastic segment is estimated to be the largest product type segment of the injection molding machine market in 2018.

The plastic segment is estimated to account for the largest share of the injection molding machine market in 2018, in terms of value. The dominance of the plastic segment is expected to continue during the forecast period due to the increasing demand from the automotive, consumer goods, and packaging end-use industries. Injection molding machines are used to make a wide range of plastic products, including automotive parts, chairs, toys, syringes, bottles, and construction kits. Thermoplastics are the most prominent and widely used plastics in this segment due to their low melting point, flexibility, excellent dimensional stability, and good chemical resistance.

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The automotive segment is estimated to be the largest end-use industry segment of the injection molding market in 2018.

The automotive segment is estimated to be the largest application segment of the injection molding machine market, in terms of both, value and volume, in 2018. The growth of this segment can be attributed to the increasing production of vehicles and rising demand for lightweight automotive components in developed and emerging regions.

The hydraulic machine segment is estimated to be the largest machine type segment of the injection molding market in 2018.

The hydraulic machine type segment is estimated to be the largest application segment of the injection molding machine market, in terms of both, value and volume, in 2018. The dominance of hydraulic injection molding is expected to continue during the forecast period owing to its enhanced performance and low maintenance cost. Also, the increasing demand from the automotive, consumer goods, and packaging end-use industries is fueling the growth of the hydraulic injection molding machine market during the forecast period.

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Asia-Pacific to be the fastest-growing market for industrial lubricants during the forecast period

The Asia-Pacific industrial lubricants market is expected to grow at the highest CAGR during the forecast period. The high growth of the emerging economies and the increasing disposable income in the region make Asia-Pacific an attractive market for industrial lubricant manufacturers. The tremendous growth of industrial production and increased trade are primarily responsible for the high consumption of industrial lubricants.

Currently, the global industrial lubricants market is led by various market players such as ExxonMobil Corporation (U.S.), Royal Dutch Shell Plc. (Netherlands), Chevron Corporation (U.S.), BP p.l.c. (U.K.), Total S.A. (France), Petrochina Company Limited (China), Sinopec Limited (China), LUKOIL (Russia), Fuchs Petrolub AG (Germany), Idemitsu Kosan Co. Ltd (Japan), and others.