Metal Molds Market for Plastic Injection Molding size to exceed $6.5Bn by 2032

Metal Molds Market for Plastic Injection Molding size is expected to be worth USD 6.5 billion by 2032, according to a recent research report announced by Global Market Insights Inc.
 

Booming healthcare industry and increasing demand for automobiles as the chief drivers of the metal molds industry for plastic injection molding. In addition, an upsurge in efforts by the government towards infrastructural development has propelled the demand for metal molds for plastic injection molding in the construction industry. Also, the COVID-19 pandemic presented lucrative opportunities for the medical equipment market which boosted product penetration.
 

Ability to balance machinability to increase steel material industry share

With respect to material, study classifies the metal molds market for plastic injection molding into aluminum, steel, and others. The steel injection mold segment size is poised to reach USD 5 billion by 2032. The steel molds offer a balance of machinability, cost, and strength, which is speculated to fuel the demand for steel molds for plastic injection molding in the coming years. Additionally, pre-alloyed or elementally blended stainless steel including austenitic, ferritic, and precipitation hardening grades is bolstering steel metal injection molding further.
 

Soaring demand for lightweight automotive vehicles to push electric discharge machining segment

Electric discharge machining segment is slated to witness growth at a 3.5% CAGR over 2023-2032. The surging demand for lightweight automotive vehicles is anticipated to boost the utilization of electric discharge machining for manufacturing metal molds market for plastic injection molding and propel industry growth. Furthermore, limited contact between the tool and the workpiece in the process is encouraging the preference for electric discharge machining for plastic injection molding.
 

Browse key industry insights spread across 350 pages with 547 market data tables and 27 figures & charts from the report “Metal Molds Market for Plastic Injection Molding Size, By Material (Steel, Aluminum), By Manufacturing Process (Standard/CNC Machining, Electric Discharge Machining), By Application (Packaging [Pharmaceutical, Beauty & Personal Care, Food & Beverage], Automotive, Medical, Electronics, Construction), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trend, Competitive Market Share & Forecast, 2023 – 2032”, in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/metal-molds-market-for-plastic-injection-molding
 

Rising use of metal molds to augment construction segment progress

The deployment of metal molds for the formation of plastic injection molding in the construction industry is expected to remain high through the coming years. The metal molds market for plastic injection molding from the construction application segment is foreseen to garner more than USD 1 billion by 2032. The soaring production of windows and door parts, fasteners, heating, and air-conditioning components, anchors, and anchor and plumbing parts is projected to push product adoption. The segment growth is driven by positive efforts by the government to augment infrastructural development in emerging nations.
 

Growing demand for automobiles to help MEA industry expansion

Middle East & Africa metal molds market for plastic injection molding is estimated to depict more than 4% CAGR between 2023 and 2030. The region may emerge as a major hub for this industry owing to the growing demand for beauty products as a result of shifting trends in beauty standards. Moreover, changing consumer choices have pushed the growth of the construction industry in the MEA region.
 

Portfolio diversification to remain a key growth strategy

The strategic landscape of the metal molds market for plastic injection molding is expected to witness a series of rigorous R&D initiatives and growth partnerships, coupled with the expansion of the portfolio by industry players to fuel their market position. Some of the key metal molds industry for plastic injection molding players profiled in the report include The Rodon Group, ERMO S.A., Enko AS, Bunty LLC, Michiana Global Mold, Inc., MSI Mold Builders Inc., Colonial Machine, Bericap GmbH & Co. KG, GENSINI S.R.L., and more.