A recent report has predicted that the injection molding industry will continue to grow over the next six years, which will have several potential impacts on engineers and product developers.Globally, a report by Research and Markets predicts that the injection molding machine market will be valued at $22.45 billion by 2025. This will mean a Compound Annual Growth Rate (CAGR) expansion of 3.5% over the next few years.

As the growth of the sector skyrockets, what effect will there be on the work of manufacturers and product engineers?

What is causing the market growth?

The report cites continuing growth in the mass production of automotive, consumer goods and electronics as the main reasons for the continued growth in injection molding.

A growing automotive sector, particularly in the US, and its demands for interior and exterior injection molded parts will mean there will be a continued need for injection molded machinery. As will the growth in consumable goods such as personal hygiene products, housewares and cosmetics.

Is metal or plastic the biggest market?

According to the report, the plastic market was valued at $12.99 billion in 2017 and will continue to grow along with the injection molded market up until 2025. This growth is predicted despite the environmental impact of plastic parts and is likely to be caused by consumer and manufacturer demand for a variety of material capabilities.

Is growth different across the world?

Within the report, the US, Germany and China are predicted to be the growth markets in this industry, with similar sectors cited to drive the same level of revenue across the three countries. A demand for lightweight consumer products and complex automotive parts is predicted to drive 1.10% of CAGR growth up until 2025.

In contrast, advanced infrastructure and technology and a highly skilled workforce will drive $2.23 billion worth of growth in the same period. Similarly, the automotive and electronics sector in China is predicted to reach $3.71 billion by 2025.

What does this mean for engineers?

Although the growth of the market will attract more manufacturers to injection molding production, continuing consumer demand for higher quality products will mean that materials and processes will also have to be of a higher standard.

It may also have an impact on the competitiveness of the market, meaning that engineers and product developers will have a greater choice of the manufacturers they can select their parts from, making prioritizing quality and value for money even more important. By recognizing these trends in the market, we’ve worked with our customers to give them high-quality products and customer service, meaning that we’re future-ready for changes in the market.