3D Printing Materials Are Fastest Growing Segment Fueling The Growth Of Injection Molding Materials Market

 


The global Injection Molding Materials Market is estimated to be valued at US$ 286.73 Billion in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Injection molding materials are polymers that are loaded into an injection molding machine where they are heated, forced into a mold, and then cooled to solid shape. Common injection molding materials include thermoplastics like acrylonitrile butadiene styrene (ABS), nylon, polycarbonate, and polystyrene.

Market key trends:
One of the key trends driving the growth of the market is the rising demand for 3D printing materials. 3D printing technology has significantly advanced in recent years and materials compatible for 3D printing have also evolved. Thermoplastic materials like acrylonitrile butadiene styrene (ABS) and polycarbonate that are commonly used in injection molding are now available in filament form for 3D printing. This has boosted the demand for these injection molding materials from the 3D printing industry.

Segment Analysis

The global injection molding materials market is segmented on the basis of material type, application, and region. Based on material type, the market is segmented into plastics, metals, elastomers, and others. The plastics segment dominated the market in 2022 and is projected to register the highest CAGR during the forecast period. Plastics like polypropylene, polyethylene, polycarbonate, polyamide, and polyvinyl chloride are widely used in injection molding owing to their low cost and versatility in molding complex parts.

Key Takeaways

The Global Injection Molding Materials Market Size is expected to witness high growth, exhibiting CAGR of 5.5% over the forecast period, due to increasing demand from automotive and packaging industries.

Regional analysis:
Asia Pacific region dominated the global market in 2022 and is expected to maintain its dominance during the forecast period. Rapid industrialization and growing manufacturing sector in China, India, Japan, and South Korea are driving the growth of the regional market.

Key players:
Key players operating in the injection molding materials market include ExxonMobil, BASF, Dow, Huntsman, Eastman, INEOS, SABIC, Magna International, Newell Rubbermaid, Beckton Dickinson, and IAC group. ExxonMobil is one of the leading players focusing on expanding its product portfolio and building partnerships with molder companies.

For More Insights, Read: https://www.newsstatix.com/injection-molding-materials-market-size-share-and-growth-forecast-2023-2030/

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