According to a study conducted by Future Market Insights (FMI), the multi-component injection molding technology market is expected to grow at a CAGR of 9% from 2022 to 2032. The market is projected to be valued at US$ 3 billion in 2022 and is estimated to reach US$ 7.1 billion by 2032.
Multi-component injection molding has witnessed significant development in the market since the beginning of the 21st century. This innovative manufacturing process offers flexibility and the ability to produce multifunctional plastic parts, making it increasingly popular among plastic manufacturers. It finds applications in various industries such as packaging, consumer goods, and automotive, particularly in the production of soft-touch overmoulded products.
Despite its popularity, computer simulation software for the multi-component molding process is not yet possible due to the challenges in mapping the boundaries between the substrate and the overmold. Consequently, engineers still rely on trial and error rather than computer-aided engineering. However, the multi-component injection molding technique allows the combination of diverse materials or dyes, enabling the production of high-quality plastic products.
- The multi-component injection molding technology market is projected to grow at a CAGR of 9% from 2022 to 2032.
- The market is expected to be valued at US$ 3 billion in 2022 and reach US$ 7.1 billion by 2032.
- Multi-component injection molding offers flexibility and the ability to produce multifunctional plastic parts.
- The technology finds applications in industries such as packaging, consumer goods, and automotive for soft-touch overmoulded products.
- Despite the challenges in computer simulation, the technique allows the combination of diverse materials or dyes.
- Sustainable multi-component technologies enable the use of recycled materials without compromising surface quality.
- Fully automated production through multi-component injection molding reduces manufacturing costs and improves efficiency.
- Multi-component injection molding is widely utilized in various sectors of the economy, including automotive, electronics, and communications.
Global Multi Component Injection Molding Technology Market: Dynamics
Multi component injection moulding technology is used for manufacturing articles made with different materials. Multi component injection moulding technology has witnessed rapid development in recent years and so growth rate of traditional moulding came to a pause. These rapid developments include new variants of processes, plastics and material combinations which have been added for new applications in various fields.
The technology is evolving in new directions and its technical developments include machines with four to six barrels, thermoplastic/thermosets combinations, combinations of materials with gas or water assists and many more. Since many multi shots or co injections presses are customized, moving to multi component can be expensive.
However, the versatility it provides compensates the high cost. Multi component injection moulding technology is used to produce a finished portion in the mould without using a downstream equipment which is expensive to use, buy and maintain.
Applications of multi component injection moulding technology are barrier products, shielding against electromagnetic interference, recycling of thermoplastic materials and many more. Numerous applications in some of the most lucrative industries in the market are expected to drive the global multi component injection moulding technology market, owing to its cost effective nature, reliability, and quality.
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Few of the key players operating in the global multi component injection moulding technology market are:
Sumitomo (SHI) Demag Plastics Machinery GmbH, Milacron LLC, Wittmann Kunststoffgerate Ges.m.b.H, Haitian International Holdings Ltd., and Mold Hotrunner Solutions Inc., among others.
Global Multi Component Injection Molding Technology Market: Segmentation
On the basis of moulding type, multi component injection moulding technology market has been segmented as:
- Multi material injection moulding
- Multi-colour injection moulding
On the basis of technology type, multi component injection moulding technology market has been segmented as:
- Two-shot moulding
- Co-injection moulding
- Hard-soft combinations of thermoplastics
On the basis of end use, multi component injection moulding technology market has been segmented as:
- Automobile industry
- Medical Industry
- Electronics and Communication Industry
- Sports Industry