The India injection moulders market is poised for significant expansion, with the market value expected to surge from US$ 310.5 million in 2023 to a promising US$ 525.3 million by 2033. Notably, in 2022, the Indian injection moulders industry boasted a valuation of US$ 293.0 million, and it is primed to exhibit robust year-on-year (Y-o-Y) growth, particularly by an impressive 6.0% in the year 2023. This growth projection underscores the increasing demand for injection moulding solutions in India, driven by diverse industrial applications and the country’s thriving manufacturing sector.
As per Future Market Insights (FMI), automotive segment by end use held a share of about 24.9% in 2022 within the India market. This is attributable to increasing application of injection molding in the automotive sector.
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Here is an overview of the India injection moulders market:
- Market Size and Growth:
- The injection moulders market in India is substantial and has been experiencing steady growth.
- India’s manufacturing sector, including automotive, packaging, and consumer goods, drives the demand for injection moulders.
- Applications:
- Injection moulders are used in various industries, including automotive, packaging, healthcare, electronics, and consumer goods.
- In the automotive sector, injection moulding is employed for manufacturing components such as dashboards, bumpers, and interior parts.
- The packaging industry relies on injection moulders for producing plastic containers, caps, and closures.
- Plastic Consumption:
- India’s growing population and rising consumerism contribute to increased plastic consumption, boosting the demand for injection moulded plastic products.
- Regulatory Environment:
- The injection moulding industry in India is subject to regulatory standards, particularly in terms of product quality and safety.
- Environmental regulations are also becoming more stringent, encouraging the adoption of eco-friendly materials and processes.
- Technological Advancements:
- Advancements in injection moulding technology, including automation and Industry 4.0 integration, have been witnessed in the Indian market.
- Manufacturers are focusing on improving energy efficiency and reducing production costs.
- Export Opportunities:
- India has emerged as an exporter of injection moulded products to various international markets, benefiting from its cost-effective production capabilities.
- Challenges:
- The injection moulding industry in India faces challenges related to the availability of skilled labor, fluctuating raw material prices, and infrastructure constraints.
- Sustainability Initiatives:
- Increasing awareness of environmental sustainability has led to a shift toward using recycled and biodegradable materials in injection moulding processes.
- Market Expansion: – The market is expanding beyond traditional industries to include sectors like medical devices, aerospace, and construction.
- COVID-19 Impact: – The COVID-19 pandemic had varying effects on the injection moulders market, with disruptions in supply chains but increased demand for certain medical and packaging products.
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Competitive Landscape:
Leading injection moulder manufacturers in India are concentrating on developing novel products to meet growing demand from several sectors. They are also investing in research & development as well as adopting strategies such as mergers, partnerships, alliances, agreements, and acquisitions:
- To supply 3D injection moulding machine for the Indian market, SOLIZE India Technologies partnered with Toray Engineering D Solutions in 2022.
- In February 2023, ChenHsong Group unveiled its latest range of high-efficiency injection moulding machines at PLASTINDIA 2023 trade fair.
- Ravi Plast Mold Private Limited has developed more than 1500 products and offers a full range of precision injection molding technologies.
Key Players:
- Ravi Plast Mold Private Limited
- General Plastic Industries
- Miltech Group Of Industries
- Tech Plaastic Industrie Pvt Ltd
- SSI Molds/ Sunshine Industries (India)
- Elin Electronics Ltd.
- Tooling Temple Company
- Laxmi Micro Industries
- Pragati Plast Mould
- Precision Technoplast Pvt. Ltd.
- Metaplast Engineering
Segmentation:
By Mould Type
- Cold Runner Mould
- Two Plate Mould
- Three Plate Mould
- Hot Runner (Runnerless) Mould
- Externally Heated Hot Runner
- Internally Heated Hot Runners
- Insulated Hot Runners
By Material
- Plastic
- Metal
- Rubber
- Ceramic
By End-use
- Automotive
- Packaging
- Electronics
- Healthcare
- Consumer Goods
- Aerospace & Defense
- Building & Construction
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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