Multi Component Injection Moulding Technology Market Outlook (2022-2032)
A recent study on the multi component injection moulding technology market by Future Market Insights projects that the industry is slated to exhibit a CAGR of 9% from 2022 to 2032. As per the study, the market is expected to be valued at US$ 3 Billion in 2022, and will eventually reach US$ 7.1 Billion by 2032.
Data Points
Key Statistics
Expected Market Value in 2022
US$ 3 Billion
Projected Market Value in 2032
US$ 7.1 Billion
Growth Rate (2022-2032)
9% CAGR
Since the beginning of the 21st century, injection molding has undergone rapid development in the market. A multi-component molding process can involve a wide range of technologies and techniques. Because of its flexibility and ability to produce multifunctional plastic parts, this innovative manufacturing process is gaining popularity among plastic manufacturers.
This technology is used in many industries, such as packaging, consumer goods, autos, and others to make soft-touch overmoulded products in the market.
Due to the difficult mapping of the boundaries between the substrate and the overmold, it is currently not possible to create computer simulation software for this process, despite the growing popularity among engineers. The conventional injection molding practice uses computer-aided engineering while multicomponent molders still use trial and error.
As a means of producing high-quality plastic products, the multi-component injection molding technique involves the combination of diverse materials or dyes.
Sustainable multi-component technologies can also increase the proportion of recycled materials without compromising surface quality. With the use of these technologies, manufacturers have the ability to create innovative design solutions and optimize product features effectively, as well as incorporate functional features into their products.
The costs of manufacturing units are further minimized when all assembly steps and rework are eliminated through fully automated production.
Injection molding machines that mold multiple components are capable of producing multiple products in the same production cell without needing additional injection-molding machinery. Thus, the initial investment can be reduced, time and materials can be saved, as well as ongoing operating costs can be decreased.
Various industries, including automobile, electronics, and communications, are utilizing multi-component injection molding technology as a result of these beneficial factors.
Multi-component technology is already unthinkable in the automotive industry. This product is used by nearly one out of two European manufacturers who manufacture injected parts. Experts believe that multi-component machines will become increasingly popular as their application in automobiles has expanded considerably.
Injection molding technology that uses multiple components has the advantage of being able to be mastered 100% at any time, leading to parts that can be precisely reproduced over and over again.
Recent advances in industrial technology have led to the widespread adoption of multi-material injection molding technologies, which are used in a wide variety of products, from construction materials to consumer goods in the market. The method and technology of multi-injection molding are used in almost every sector of the economy.
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Global Multi Component Injection Molding Technology Market: Overview
Multi component injection moulding technology involves combination of different materials to produce high quality of plastic components. Multi component injection moulding technology covers all the processes involving the stages, which more than one plastic components undergo, during their treatment to achieve a particular functionality.
With the help of this technology, one can improve design and functionality of products, in a cost effective manner. It is the technique of manufacturing custom plastic parts with two or more plastic resins. Multi material moulding processes can be classified in multi component injection moulding technology, multi shot moulding and over moulding.
This technology or technique is used for manufacturing of multi-colour and soft touch over moulding products for different markets such as packaging, automotive, consumer and others. In addition, the global multi component injection moulding technology is expected to enjoy high preference over the forecast period, which can be attributed to process reliability and increased applications in various fields.
Multi component injection moulding technology is now applied extensively in the electronics, packaging, and sports industries, in addition to integration with automotive, medical and communication technologies.
Global Multi Component Injection Molding Technology Market: Dynamics
Multi component injection moulding technology is used for manufacturing articles made with different materials. Multi component injection moulding technology has witnessed rapid development in recent years and so growth rate of traditional moulding came to a pause. These rapid developments include new variants of processes, plastics and material combinations which have been added for new applications in various fields.
The technology is evolving in new directions and its technical developments include machines with four to six barrels, thermoplastic/thermosets combinations, combinations of materials with gas or water assists and many more. Since many multi shots or co injections presses are customized, moving to multi component can be expensive.
However, the versatility it provides compensates the high cost. Multi component injection moulding technology is used to produce a finished portion in the mould without using a downstream equipment which is expensive to use, buy and maintain.
Applications of multi component injection moulding technology are barrier products, shielding against electromagnetic interference, recycling of thermoplastic materials and many more. Numerous applications in some of the most lucrative industries in the market are expected to drive the global multi component injection moulding technology market, owing to its cost effective nature, reliability, and quality.
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Global Multi Component Injection Molding Technology Market: Regional Overview
Geographically, the global Multi Component Injection Molding Technology market can be segmented as:
North America
Latin America
Western Europe
Eastern Europe
Asia-Pacific (excluding Japan)
Japan
Middle East & Africa (MEA)
The North America and Western Europe region are expected to witness increase in applications of multi component injection moulding technology, over the forecast period, owing to a large and mature industry and high quality standards.
Multi component injection moulding technology machinery demand in North America accounts for a small portion of net sales However, the region is expected to witness rise in market share. Western Europe is expected to outdo North America in terms of multi component injection moulding technology demand.
For instance, over 20% of Ferromatik Milacron's sales in Germany is multi-component presses. The APAC region is also expected to witness healthy growth in the multi component injection molding technology market, over the forecast period.
Global Multi Component Injection Molding Technology Market: Key Players
Few of the key players operating in the global multi component injection moulding technology market are:
Sumitomo (SHI) Demag Plastics Machinery GmbH, Milacron LLC, Wittmann Kunststoffgerate Ges.m.b.H, Haitian International Holdings Ltd., and Mold Hotrunner Solutions Inc., among others.
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Regional analysis includes
North America
Latin America
Europe
Asia Pacific
Middle East & Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Global Multi Component Injection Molding Technology Market: Segmentation
On the basis of moulding type, multi component injection moulding technology market has been segmented as:
Multi material injection moulding
Multi-colour injection moulding
On the basis of technology type, multi component injection moulding technology market has been segmented as:
Two-shot moulding
Co-injection moulding
Hard-soft combinations of thermoplastics
On the basis of end use, multi component injection moulding technology market has been segmented as:
