The India injection moulders market value is anticipated to increase from US$ 310.5 million in 2023 to US$ 525.3 million by 2033. In 2022, India injection moulders industry was valued at US$ 293.0 million and it is set to exhibit Y-o-Y growth of 6.0% in 2023.
Over the projection period from 2023 to 2033, injection moulder demand in India is likely to rise at a CAGR of 5.4%. A new estimation predicts that injection moulder sales will rise steadily with the target market generating an attractive incremental growth opportunity of US$ 232.3 million.
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.
Holding a share of around 70%, hot runner mould segment dominates India injection moulders industry. For the projection period, hot runner mould segment is expected to thrive at a CAGR of around 5.4%.
Key Factors Shaping Market Dynamics
Injection moulders are equipment used in the injection moulding process to produce plastic objects. These moulders are used to shape molten plastic material into a certain shape. They are utilized in a wide range of sectors, including medical devices, automotive, consumer goods, and others.
Injection moulders have the capability to produce complex and precise parts in large quantities while maintaining constant quality. As a result, their popularity is increasing day by day across several sectors.
Rising usage of injection moulding process in various sectors is expected to drive India injection moulders industry during the assessment period.
Robust growth of medical device sector is emerging as a key factor boosting the injection moulders industry in India.
In recent years, India has emerged as one of the leading manufacturers of injection moulders. For instance, as per the India Brand Equity Foundation (IBEF), India is among the top 20 medical device markets worldwide. The medical device sector in India is anticipated to reach a valuation of US$ 50 Billion by 2025.
A wide variety of medical devices, ranging from implantable medical devices and disposables to consumables are being manufactured in India. The main medical devices manufactured in India are disposables such as syringes, catheters, perfusion sets, and feeding tubes as well as implants like intraocular lenses and cardiac stents.
For producing most of these medical devices, manufacturers use injection molding technology which in turn is creating a high demand for injection moulders in the country.
The growing demand for intricate and compact metal injection molded parts from various sectors along with increasing usage of metal injection moulding (MIM) is another key factor expected to fuel market expansion in India.
Manufacturing companies can take advantage of MIM, which is a cost-effective technology, to produce components with proven advantages.
Compared to other injection moulding processes, MIM offers several benefits, such as supporting mass production with high production volume while reducing production costs.
Metal injection moulding can create complex geometries with fewer manufacturing processes, reducing finishing time in secondary operations. It is an ideal solution for parts with intricate shapes, low mass, and moderate to large production volumes.
MIM finds extensive use in structural materials for applications in medical, military, hardware, electronic, and aerospace industries.
MIM is compatible with difficult-to-machine metals, such as stainless steels, cobalt-chromium alloys, and titanium alloys. Therefore, MIM technology plays a significant role in industrial transformation by facilitating the production of intricate and precise components with minimal waste, faster production times, and reduced costs.
India government is also implementing various policies and initiatives such as ‘Make in India’ and ‘Atmanirbhar Bharat’ to promote manufacturers in the country. These initiatives are expected to further drive injection molders demand during the assessment period.
Booming automotive sector and rising need for lightweight & sustainable materials such as bioplastics are likely to improve India injection moulders market share.
| Attributes | Key Insights |
|---|---|
| Estimated India Injection Moulders Market Size (2023) | US$ 310.5 million |
| Projected Market Value (2033) | US$ 525.3 million |
| Value CAGR (2023 to 2033) | 5.4% |
| Collective Value Share: Top 5 Companies (2022A) | 20% to 25% |
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As per Future Market Insights (FMI), the sales of injection moulders in India market grew at around 3.3% CAGR during the historical period from 2017 to 2022. Total market valuation increased from US$ 249.5 million in 2018 to US$ 293.0 million by 2022.
Looking forward, injection moulder demand in India is forecast to rise at 5.4% CAGR during the projection period. By 2033, total market valuation is anticipated to reach US$ 525.3 million.
Injection molds are tools used in the manufacturing process of plastic parts through injection molding. They are made up of two halves, a core and a cavity, which are separated to eject the finished product.
Injection molds are used in a variety of sectors, including automotive, consumer products, medical devices, and more. Hence, growth of these sectors will eventually create growth opportunities for injection mold manufacturers.
Plastic mould manufacturers in India are adopting reinforced plastics, which have high growth prospects in the global market.
The automotive sector is replacing metal with glass, carbon, metal, and graphite plastics due to their design flexibility, durability, and lightweight. The use of reinforced plastics is also gaining popularity in defense and medical applications.
Advancements in injection moulding technology, such as 3D printing and automation, are making it easier and more cost-effective to produce complex parts and customized products. This could increase demand for injection moulds as manufacturers seek to capitalize on these technologies.
India's defense sector presents a promising market for injection moulder manufacturers. With the world's 3rd leading military and the 5th defense expenditure giant, India spends almost 30% of its defense budget on capital acquisitions, and about 60% of its defense requirements are met through imports.
The Indian government has committed to spending US$ 130 billion over the next five to seven years to equip the army with modern defense equipment. This is expected to create a high demand for metal injection moulding (MIM) as well as injection moulders.
MIM technology is emerging as a suitable solution for advanced defense applications. This is due to its ability to produce parts with complicated shapes, low mass, and moderate to large production volumes while reducing waste.
Growing popularity of MIM technology in the defense sector is anticipated to bolster injection moulder sales over the assessment period.
Principal Consultant
High Cost-effectiveness Fueling Cold Runner Mould Demand in India
A cold runner mould is a form of injection mould in which the material injected into the mould hardens in the runner, which is the route through which the material is delivered to the various cavities in the mould.
Because the runner in a cold runner mould is not heated, the material in the runner must be removed after each cycle, resulting in waste and extended cycle times. Cold runner moulds are frequently utilized for low-volume manufacturing runs or when the material used is costly.
Cold runner moulds offer various advantages that are making them popular. These include very high cost-effectiveness, less complexity, exceptional process flexibility, and low maintenance costs. They are becoming ideal for a wide array of engineered and commodity thermoplastics.
According to Future Market Insights (FMI), cold runner mould segment is anticipated to hold a volume share of 55.2% by 2033, advancing at a CAGR of 4.6%.
Plastic Segment to Lead the Target Market Through 2033
Based on material, plastic segment is expected to dominate India injection moulders industry during the assessment period. As per the latest analysis, plastic segment is projected to hold around 64.2% of the market in 2023. It is set to create an incremental opportunity of US$ 122.5 million. during the forecast period.
Increasing demand for plastic moulds is driven by factors such as the growth of the healthcare sector and rapid industrialization in emerging economies.
In EVs, automobile manufacturers are utilizing engineered thermoplastics in battery enclosures to keep the weight low while ensuring occupant safety.
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:
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| Attribute | Details |
|---|---|
| Estimated Market Value (2023) | US$ 310.5 million |
| Projected Market Value (2033) | US$ 525.3 million |
| Anticipated Growth Rate (2023 to 2033) | 5.4% CAGR |
| Historical Data | 2017 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in US$ Million, Volume in Units and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered |
Mould Type, Material, End Use |
| Key Companies Profiled | 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 |
The market is forecast to register a CAGR of 5.4% through 2033.
Asia-Pacific region is the leading region in the market.
The projected market value of the market for 2033 is US$ 525.3 million.
Key players are developing the market by investing in research and development.
China, India, the United States, Japan, and Germany are the major countries in this market.
1. Executive Summary
1.1. Market Outlook
1.2. Market Analysis
1.3. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Sustainable Trends
3.3. Technological Trends
3.4. Product Innovation / Development Trends
4. Key Success Factors
4.1. Product Adoption / Usage Analysis
4.2. Product USP’s / Features
4.3. Strategic Promotional Strategies
4.4. Go-to-market Strategies
5. Market Demand Analysis 2017 to 2022 and Forecast, 2023 to 2033
5.1. Historical Market Volume (Units) Analysis, 2017 to 2022
5.2. Current and Future Market Volume (Units) Projections, 2023 to 2033
5.3. Y-o-Y Growth Trend Analysis
6. Market - Pricing Analysis
6.1. Pricing Analysis
6.2. Average Pricing Analysis Benchmark
7. Market Demand (in Value or Size in US$ Million) Analysis 2017 to 2022 and Forecast, 2023 to 2033
7.1. Historical Market Value (US$ Million) Analysis, 2017 to 2022
7.2. Current and Future Market Value (US$ Million) Projections, 2023 to 2033
7.2.1. Y-o-Y Growth Trend Analysis
7.2.2. Absolute $ Opportunity Analysis
8. Market Background
8.1. Manufacturing Industry Outlook
8.2. Forecast Factors - Relevance & Impact
8.3. Value Chain
8.3.1. Exhaustive List of Component Suppliers
8.3.2. Exhaustive List of Injection Moulder Manufacturers
8.3.3. Exhaustive List of Brand Owners/ Customer Base
8.4. Case-based Scenario – Impact Assessment
8.4.1. Current Statistics
8.4.2. Short-Mid-Long Term Outlook
8.4.3. Likely Rebound
8.5. Market Dynamics
8.5.1. Drivers
8.5.2. Restraints
8.5.3. Opportunity Analysis
8.6. Supply Demand Analysis
8.6.1. Import /Export Analysis
9. Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Mould Type
9.1. Introduction / Key Findings
9.2. Historical Market Size (US$ Million) and Volume (Units) Analysis, By Mould Type, 2017 to 2022
9.3. Current and Future Market Size (US$ Million) and Volume (Units) Analysis and Forecast, By Mould Type, 2023 to 2033
9.3.1. Cold Runner Mould
9.3.1.1. Two Plate Mould
9.3.1.2. Three Plate Mould
9.3.2. Hot Runner (Runnerless) Mould
9.3.2.1. Externally Heated Hot Runner
9.3.2.2. Internally Heated Hot Runners
9.3.2.3. Insulated Hot Runners
9.4. Market Attractiveness Analysis, By Mould Type
10. Market Analysis 2017 to 2022 and Forecast 2023 to 2033, Material
10.1. Introduction / Key Findings
10.2. Historical Market Size (US$ Million) and Volume (Units) Analysis, By Material, 2017 to 2022
10.3. Current and Future Market Size (US$ Million) and Volume (Units) Analysis and Forecast, By Material, 2023 to 2033
10.3.1. Plastic
10.3.2. Metal
10.3.3. Rubber
10.3.4. Ceramic
10.4. Market Attractiveness Analysis, By Material
11. Market Analysis 2017 to 2022 and Forecast 2023 to 2033, End Use
11.1. Introduction / Key Findings
11.2. Historical Market Size (US$ Million) and Volume (Units) Analysis, By End Use, 2017 to 2022
11.3. Current and Future Market Size (US$ Million) and Volume (Units) Analysis and Forecast, By End Use, 2023 to 2033
11.3.1. Automotive
11.3.2. Packaging
11.3.3. Electronics
11.3.4. Healthcare
11.3.5. Consumer Goods
11.3.6. Aerospace & Defense
11.3.7. Building & Construction
11.4. Market Attractiveness Analysis, By End Use
12. Market Structure Analysis
12.1. Market Analysis by Tier of Companies (Injection Moulder)
12.2. Market Share Analysis of Top Players
12.3. Market Presence Analysis
13. Competition Analysis
13.1. Competition Dashboard
13.2. Competition Benchmarking
13.3. Competition Deep Dive (Injection Moulders)
(based/ operating Key Market Players)
13.3.1. Ravi Plast Mold Private Limited
13.3.2. GENERAL PLASTIC INDUSTRIES
13.3.3. Miltech Industries Pvt Ltd
13.3.4. TECH PLAASTIC INDUSTRIE
13.3.5. Sunshine Industries (India)
13.3.6. Elin Electronics Ltd.,
13.3.7. Laxmi Micro Industries.
13.3.8. Tooling Temple
13.3.9. Pragati Plasst Moulds
13.3.10. Precision Technoplast Pvt.Ltd.
13.3.11. Metaplast
*The above list is indicative in nature and is subject to change during the course of research
14. Assumptions and Acronyms Used
15. Research Methodology
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India Injection Moulders Market
