Overview and Scope
The industrial mold refers to a matrix or cavity, in which a plastic substance or fluid is shaped into a desired finished product.
Sizing and Forecast
The industrial mold market size has grown strongly in recent years. It will grow from $48.49 billion in 2023 to $52.2 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth in the historic period can be attributed to manufacturing growth, automotive industry expansion, globalization and supply chain dynamics, consumer electronics boom, plastic injection molding advances, increased adoption of precision machining.
The industrial mold market size is expected to see strong growth in the next few years. It will grow to $68.42 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to advanced materials and alloys, sustainability and eco-friendly molding, precision mold design and simulation, global shifts in manufacturing hubs, high-performance aerospace materials. Major trends in the forecast period include micro-molding technology, industry 4.0 integration, mold simulation and virtual prototyping, customization and rapid tooling, robotics and automation integration.
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Segmentation & Regional Insights
The industrial mold market covered in this report is segmented –
1) By Type: Metal Molds, Other Material Molds
2) By Material: Plastics, Glass, Rubber
3) By Application: Manufacturing, Automotive, Other Applications
North America was the largest region in The industrial mold market in 2023. Western Europe was the second largest region of the industrial mold market. The regions covered in the industrial mold market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The growing manufacturing and production industry is expected to fuel the growth of the industrial mold market going forward. The manufacturing and production industry encompasses a wide range of activities related to the creation and assembly of goods and products. Industrial molds are versatile tools that enhance the manufacturing and production processes by enabling the cost-effective, precise, and scalable production of a wide range of products across multiple industries. For instance, in July 2023, according to the Office for National Statistics, a UK-based statistics authority, UK manufacturers achieved a total product sales value of approximately $579.5 billion (£429.8 billion) in 2022, reflecting a growth of $38.3 billion, or a 7% increase compared to the $541.2 billion (£401.5 billion) recorded in 2021. therefore, The expansion of the manufacturing and production sectors will drive the growth of the industrial mold market.
Key Industry Players
Major companies operating in the industrial mold market report are BASF SE, The Dow Chemical Company, Qingdao Haier Technology Co. Ltd., The Cannon Group Inc., Toshiba Machine Co. Ltd., Berry Global Inc., Amcor PLC, Eastman Chemical Company, HyundaiWia Co.Ltd., Sumitomo Heavy Industries Ltd., Silgan Holdings Inc., The TRUMPF Group, UbeIndustries Ltd., AptarGroup Inc., VitroS.A.BdeC.V., DMG Mori Co. Ltd., ENGEL Austria GmbH, Haitian International Holdings Ltd., Milacron Holdings Corp., MaxellHoldings Ltd., Stratasys Ltd., Proto Labs Inc., Nissei Plastic Industrial Co. Ltd., Takween Advanced Industries, Husky Injection Molding Systems Ltd., ALPLA India Pvt. Ltd., Dalian Machine Tool Group Corporation, Amada Pvt. Ltd., US Industrial Machinery, Arburg GmbH + Co KG, KraussMaffei Group GmbH, StackTeck Systems Ltd., Rosti Group AB, Sino Mould Co. Ltd., Apex Plastics
The industrial mold market report table of contents includes:
1. Executive Summary
2. Industrial Mold Market Characteristics
3. Industrial Mold Product/Service Analysis -Product/Service Examples
4. Industrial Mold Market Trends And Strategies
5. Industrial Mold Market – Macro Economic Scenario
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68. Global Industrial Mold Market Competitive Benchmarking
69. Global Industrial Mold Market Competitive Dashboard
70. Key Mergers And Acquisitions In The Industrial Mold Market
71. Industrial Mold Market Future Outlook and Potential Analysis
72. Appendix
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