Korean Injection Innovations- The South Korea Injection Molding Machinery Market
. The South Korea Injection Molding Machinery Market industry is projected to grow from USD 10.68 Billion in 2024 to USD 13.95 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 3.40% during the forecast period (2024- 2032).
Market Research Future Insights
The South Korea injection molding machinery market focuses on the sales, production, and utilization of injection molding machines within the United Kingdom. Market growth is driven by factors such as the demand for plastic packaging solutions, advancements in machinery technology for energy efficiency and process optimization, and the increasing adoption of automation and robotics in manufacturing. Injection molding machines are essential for producing a wide range of plastic products and components across industries in the South Korea.
According to MRFR analysis, South Korea Injection Molding Machinery Market Size was valued at USD 10.28 Billion in 2023. The South Korea Injection Molding Machinery Market industry is projected to grow from USD 10.68 Billion in 2024 to USD 13.95 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 3.40% during the forecast period (2024- 2032).
Injection molding is a technique used for making parts of several shapes and sizes, having a low wall thickness. Automotive components, plumbing fittings, toys, containers, and containers are a few of the generally made products from the injection molding process. Injection molding machines perform the injection molding process, which is generally used to manufacture plastic parts. The global South Korea Injection Molding Machine Market is driven by increasing awareness about energy saving and an increase in the adoption of injection molding machines in the packaging industry, and the demand for large-tonnage injection molding machines is anticipated to create a growth opportunity for the South Korea Injection Molding Machine Market players.
Exploring the Dynamics of the South Korea Injection Molding Machine Market
In the realm of manufacturing, injection molding machines reign supreme as indispensable tools for producing a wide array of plastic products. From automotive components and consumer electronics to medical devices and household appliances, these machines serve as the backbone of modern mass production. As industries worldwide continue to evolve and innovate, the South Korea Injection Molding Machine Market is witnessing dynamic shifts and unprecedented growth.
Driving Forces Behind Market Expansion
The Injection Molding Machine Market owes its robust growth to a confluence of factors, chief among them being technological advancements and the increasing demand for customized and lightweight products. Manufacturers are constantly investing in research and development to enhance machine efficiency, speed, and precision.
Furthermore, the rise of additive manufacturing and 3D printing technologies has spurred innovation within the injection molding sector. Hybrid machines combining additive manufacturing capabilities with traditional injection molding processes are gaining traction, enabling manufacturers to produce complex geometries and prototype iterations with unparalleled speed and cost-efficiency.
Regional Analysis
In South Korea , the market growth is relatively reasonable, due to the existence of well-established machine manufacturing companies. However, the smaller number of laborers in the manufacturing sector is expected to restrain the market during the imminent years, as the demand for injection type of molding machines is growing.
In Asia Pacific, there is a large existence of registered and non-registered companies that are manufacturing a wide variety of machines and equipment and as an outcome, the region is anticipated to dominate the South Korea Injection Molding Machine Market share.
In South Korea , the market growth is relatively low because of the adoption of new rules and regulations to decrease industrial pollution. Over the past few years, the number of molding companies has compacted. This is owed to the several challenges faced by the manufacturers such as increasing raw material costs, OEMs, and several other factors.
Market Segmentation
The Global South Korea Injection Molding Machinery Market has been segmented into Type, Clamping Force, Material, and End-User
Based on type, The Global South Korea Injection Molding Machinery Market has been segmented into electric, hydraulic, and hybrid machines. The hydraulic segment accounted for the largest market share of 43.69% in 2020 and the electric is anticipated to register the highest CAGR of 5.31% during the estimated period.
Based on clamping force, The Global South Korea Injection Molding Machinery Market has been segmented into less than 200 tons force, 200 to 500 tons force, and more than 500 tons force. The 200-500 tons segment accounted for the largest revenue market share of 55.38% in 2020 whereas the above 500 tons segment is anticipated to register the highest CAGR of 5.00%.
Based on material, The Global South Korea Injection Molding Machinery Market has been segmented into rubber, metal, plastic, and ceramics. The Injection Molded Plastics segment accounted for the largest revenue market share of 38.52% in 2020 and it is anticipated to register the highest CAGR of 5.01% during the forecast period.
Based on end use, The Global South Korea Injection Molding Machinery Market has been segmented into automotive, packaging, consumer goods, health care, electricals & electronics. The automotive segment accounted for the largest revenue market share of 30.54% in 2020 whereas the healthcare segment is anticipated to register the highest CAGR of 5.64%.
Key Companies in the South Korea Injection Molding Machinery Market include
HAITIAN International (China)
SUMITOMO Heavy Industries (Japan)
JAPAN Steel Works (Japan)
Chen Hsong Holdings (Hong Kong)
Hillenbrand Inc.(US)
Dongshin Hydraulic (South Korea)
Injection Molding Machinery Industry Developments
Japanese company Sumitomo Heavy Industries Ltd. (SHI) has unveiled the 20-ton iM18E tiny hybrid injection Molding Machine Market, which has a small 88 by 30 in. footprint. The iM18E has a maximum injection speed of 600 mm/sec and was specifically created for molding connections, precise gears, and other electronic parts. According to a business spokeswoman, the equipment will currently only be available in Japan and other Asian markets.
According to SHI, the iM18E takes up about 21% less space than the SE18DUZ, the company's similar model. Thanks to a redesigned injection unit and a machine frame that enables auxiliary equipment to be stored under the machine, the iM18E requires significantly less floor space.
The iM18E has an electronic plasticizing unit with a low-inertia servomotor and a hydraulic direct-pressure clamp. SHI claims that the iM18E's shot-to-shot weight variance is reduced to around one-third of that of an equivalent hydraulic machine when driven by the ISCII direct-drive system. According to reports, the hybrid design uses 50% less energy than identical hydraulic machinery.
JSW has introduced the JLM3000-MGIIeL, the largest magnesium injection molding machine in the world, following the 1,300-tonne mold clamping force of the JLM-MGIIe series, which uses the Thixomolding technology,
The third generation of JSW's magnesium injection molding machines is the JLM-MGIIe series. Four models—the JLM280-MGIIe, JLM650-MGIIe, JLM850-MGIIe, and JLM1300-MGIIeL—have been introduced, delivered, and warmly welcomed by customers. This time, we created a larger model in response to the needs of the market.
JLM3000-MGIIeL utilizes the electrification technology acquired in plastic injection molding machines in addition to the extensive expertise in magnesium injection molding machines amassed over the course of 30 years and introduces a new electric mold clamping device in pursuit of environmental performance.
The new technology aids the customers in keeping their production line clean and environmentally friendly by enabling high-precision, high-quality molding of big magnesium parts, which had previously been challenging to use the Thixomolding method.
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