Metal Molds Market Analysis

Metal Molds Market Analysis

In terms of material, metal molds market for plastic injection molding is categorized into aluminum, steel, and others. Aluminum segment is speculated to register more than USD 1 billion in revenue by 2032. The segment is projected to witness notable growth in the coming years as aluminum molds have high thermal heat transfer ability as well as excellent conductivity, which is foreseen to bolster segment expansion.
 

Based on the manufacturing process, metal molds market for plastic injection molding is classified into standard/CNC machining and electric discharge machining. Standard/CNC machining segment size is foreseen to reach USD 5 billion in revenue by 2032. The high degree of axis in CNC machining is benefitting the growth of the segment. Furthermore, CNC machining can also control complex machinery, such as laths, grinders, and turning mills, which are utilized in cutting, shaping, and forming different parts and prototypes.
 

In terms of application, metal molds market for plastic injection molding is segregated into packaging, medical, construction, electronics, automotive, and others. Packaging application segment is primed to grow at a 3.5% CAGR from 2023 to 2032. The segment growth is attributable to various benefits of packaging products, including flexibility, lightweightness, durability, handling efficiency, and low carrying cost. Along with these, packaging products also find extensive usage in the food & beverage, consumer products, and chemicals sectors, which is poised to fuel the demand for metal molds for plastic injection molding for packaging purposes.
 

Asia Pacific metal molds market for plastic injection molding is set to reach a valuation of USD 3 billion by 2032. The booming infrastructure spending, together with the surging domestic automotive production and the rising demand for automobiles in the APAC region.