The global PIMM market is expected to reach US$10.87 billion in 2024, at a CAGR of 2.60%, for the duration spanning 2020-2024. The factor such as growing production of motor vehicles, rising demand for plastic packaging, increase in polyethylene (PE) production capacity, rapid urbanization, accelerating manufacturing of electrical and electronic products and growing uses of plastic in medical industry would drive the growth of the market. However, the market growth would be challenged by environmental concerns associated with plastic emission, problem of moulding micro sized plastic parts and high initial cost. A few notable trends may include, emergence of recycled plastics, growth in digital printing, growth in industrial automation and implementation of reinforced plastics.
The global PIMM market holds a very lucrative growth opportunity for the coming years, owing to the high adoption rates of injection moulding technologies in several end-use industries. Packaging industries around the world contribute to the high demand for injection mounding machines as a wide range of plastic shapes are used for packaging different classes of items. Injection moulding machines are highly used for thermoplastic and thermosetting materials in order to develop desired packaging shapes on a large scale, which is contributing to the growth of the PIMM market globally.
The fastest growing market is China, due to the presence of key players, who contributed to the development and introduction of advanced injection moulding technologies in the market. Further, the sudden outbreak of the COVID-19 pandemic, is leveraging the importance of plastic products in order to avoid the novel virus from transmission. The use of plastic is something that is allowed in various countries in view of the prevailing situation, which is providing a growth opportunity for the global PIMM market during the forecasted period.
Scope of the report:
The report provides a comprehensive analysis of the global PIMM (plastic injection moulding machine) market.
The major regional markets (China, Europe, Japan, North America, Southeast Asia, India and ROW) have been analyzed.
The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.
The competitive landscape of the market, along with the company profiles of leading players (Sumitomo Corporation, Shibaura Machine, Hillenbrand, Haitian International Holdings Limited and Arburg) are also presented in detail.
Key Target Audience:
Raw Material Suppliers
Target Audience (Automotive, Construction, Packaging, etc.)
Government Bodies & Regulating Authorities