The plastic injection molding market in China is expected to grow from Ansel Rockefeller's blog

The plastic injection molding market in China is expected to grow at a compound annual growth rate of 6% through 2024. The ongoing construction boom, as well as building codes that promote environmentally friendly construction, all contribute to this expansion.

Although the automotive industry has traditionally been one of the most lucrative and revenue-generating end markets for injection molders in Germany and elsewhere, the impact of economic factors and technological change is changing that dynamic. Global demand is being driven down by a combination of factors including declining Chinese demand, environmental concerns in Europe, and a shift toward electric vehicles. Despite the fact that new car sales in the United States have declined from historic highs, the country continues to be something of an economic oasis in the world, which has helped to boost vehicle sales in 2018, which increased by 0.3% over the previous year.

Research Content Developer at Global Market Insights (Selbyville, DE), despite some speed bumps in the automotive sector, the global plastic injection molding market is poised for sustained growth. An injection molded plastics market report has been published by the market research and management consulting firm, and it is available for purchase on its website. PlasticsToday spoke with Iyer about some of the most important findings from her research.

According to forecasts, the global plastic injection molding market will reach a value of $345 billion by 2024. The automotive industry, which is driven by lightweighting to improve fuel efficiency and electric vehicle range; packaging, which includes thin-wall and rigid bulk products; and electronics, where plastic injection molding results in more consumer-friendly designs and lower manufacturing costs are the key contributors to this growth.
The German market, which was worth $11 billion in 2018, is expected to grow to $14.5 billion by 2024, according to forecasts. Historically, the automotive industry has been a significant customer of injection molding services, but it is currently experiencing a downturn.

Stringent CO2 emission regulations in Europe will force automakers to incur an additional cost of approximately €1000 per vehicle in order to comply with the new standards, according to a recent report. However, as automotive OEMs strive to improve fuel efficiency through lightweighting, the demand for injection molded plastic parts is expected to continue to increase. Molded plastic parts are widely used in automobiles, and can be found everywhere from wiring harnesses and light covers to dashboards and door handles.

Companies such as Tesla are experiencing revenue growth in the double-digit percentage range. In 2018, the company reported revenue growth of 82.5% when compared to the previous year. The volume of electric vehicle sales is creating significant profit pools for upstream players and distributors, as follows:Sales of electric vehicles increased to more than two million units worldwide in 2017, representing a 63% year-on-year increase, but only a 2.2% market penetration rate.

For materials such as Nylon, ABS, and PET, a dryer unit may be used to dry the plastic before it is processed and to keep any external moisture from getting into the material during the process. Small magnets may also be installed in the hopper to prevent any potentially harmful metallic particles from entering the machine. It is common for the plastic that is placed in the hopper to be in a granular form of some sort. Once the plastic material has been melted with the help of heater bands, it is forced into the mold cavity through the use of an injection nozzle. 

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By Ansel Rockefeller
Added Sep 24 '21



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