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In 2023, The Global Injection Molding Market Is Expected To Reach $233 Billion
Nov 18, 2018

In 2023, the global injection molding market is expected to reach $233 billion

A new report from the British Chamber of Commerce Research Center shows that the injection molding industry has not shown signs of slowing down as a leading player in the plastics processing industry. From automotive, aerospace to toys and medical devices, injection molding processes are used in almost every market segment.

In 2017, the global injection molding market was valued at US$117 billion; according to the “Injection: Global Markets and Technologies to 2023” report, it is expected to reach US$233 billion by 2023, with a compound annual growth rate of 10.9%.

Rising demand from multiple vertical industries such as packaging, food and beverages is expected to drive growth. According to the report, the medical device sector is a strong field, accounting for 18.7% of the plastic injection molding market. As healthcare continues to become an important part of household spending, especially in developed countries with an aging population, the field is expected to be in the future. There will be strong growth during the time.

In terms of materials, the demand for polystyrene is expected to increase at a higher rate in the next few years due to the increasing popularity of recyclable expanded polystyrene products.

Automotive innovation and replacement of metal parts with plastic parts is expected to continue in the coming years. In addition, advanced technologies such as “smart surfaces”, 3D printing dies and external autopilot sensors will also help the growth of the injection molding industry.

“As the plastic injection molding market continues to grow, innovations in resin selection, injection molding machinery and processing guidelines will continue,” said Christopher Maara, an analyst and report author at the British Chamber of Commerce Research Center. “A new resin with improved performance. With the advent of molders, they can process polymers to create new designs with different properties in a more energy-efficient and economical way."