Increase in investment in the industrial sector and the strong demand for injection molded plastics goods in the healthcare sector drive the market growth.
PORTLAND, OR, UNITED STATES, October 10, 2021 /EINPresswire.com/ — Medical injection molding is a method of producing plastic components and products out of thermoplastic and thermosetting materials for medical industry. It is the most common manufacturing technique for mass production of plastic materials, notwithstanding the high cost of tooling. The procedure is both quick and difficult. Polypropylene, polystyrene, polyethylene, and unsaturated polyesters are common plastics used in injection molding.
The global medical injection molding machines market size was valued at $685.9 million in 2020, and is projected to reach $1,128.9 million by 2030, registering a CAGR of 4.8% from 2021 to 2030.
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Plastic goods are made from high-grade raw materials, ensuring that they are of the highest possible quality. The injection molding method for plastic items entails heating the polymer until it becomes liquid, subsequently forcing it into the mold using pressure.
Asia-Pacific serves as a potential market for medical injection molding machines, owing to exponentially growing population and the development of new technologies and goods. However, fluctuation in foreign currencies influence profit margins, which is likely acts as a key challenge for industry participants.
Covid-19 Impact Analysis
However, due to a lockdown imposed in the countries such as China, the U.S., and India due to the outbreak of COVID-19, numerous manufacturers in the medical Injection molding machines market had to halt their business production. This disruption directly impacted the sales of injection molding machines. However, the introduction of coronavirus vaccines will lead to the reopening of the production facilities injection.
Key Market Players
China National Chemical Corporation Ltd.
Haitian International Holding Limited
Husky Injection Molding Systems Ltd
Shibaura Machine Co. Ltd.
Sumitomo Heavy Industries, Ltd.
The Japan Steel Works, Ltd.
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Key Market Segmentation
Cyclic Olefin Copolymer
Acrylonitrile Butadiene Styrene
By Machine Type
Standard Injection Molding Machine
Multi-component Injection Molding Machine
LSR Injection Molding Machine
By Mode Of Operation
By Clamping Force
Less than 200 Tons Force
200 to 500 Tons Force
More than 500 Tons Force
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