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Industrial Mold Market by Type (Metalware, Glass, Ceramic, Plastic/fiberware) by Application (Household, Commercial) by Sales Channel (Offline, Online)- Growth, Future Prospects And Competitive Analysis, 2016 - 2028

The industrial mold industry is involved in selling molds to manufacture goods made of metal, rubber, glass, and plastic. The increased demand for molded products will expand the growth of the industrial mold market. Another vital factor that will contribute to market growth is process flexibility. Since molding is a highly flexible manufacturing process, it finds applications in medical, packaging, automotive, and several other industries. Mold manufacturing is significant for the food and beverage industry, which needs to make packaging and processing materials for edible goods like bottles and containers.

The Global Industrial Mold market is expected to witness a CAGR of 4.25% during the forecast period. The revenue generated by the global Industrial Mold market in 2021 was over USD 83,862 million and is expected to generate revenue worth USD 113,024 million in 2028. Therefore, the incremental growth opportunity offered by the global Industrial Mold is estimated to be USD 702 billion between 2022 and 2028.    

industrial-mold-market

Interesting Facts about Industrial Mold Industry

  • China dominates the production as well as consumption of industrial mold
  • Automotive is the single largest market for industrial mold
  • Metal & Alloy is the most preferred material for the manufacturing of industrial mold
  • The Industrial Mold market is likely to present a growth opportunity of over USD 700 billion between 2022 and 2028
  • The Industrial Mold market is highly fragmented with the presence of a large number of players

Huge Installed Capacity and Technological Advancement

Other important drivers for the industrial mold manufacturing market include the high production capacity and lower labor costs. In addition, rapid technological advances in molding technology will fuel the growth of the industrial mold manufacturing market. Due to technological advances and improved design, molding machines can make products of all shapes and sizes. Hence, it is easier to manufacture goods according to end-user requirements.

Also, molding equipment development can significantly improve productivity while keeping maintenance costs low. This reduces waste and the required lead time, which present further opportunities for industrial mold manufacturing growth.

There are other opportunities for the growth of the market. This includes the development of reliable and energy-efficient equipment that can assist with various kinds of molding processes.

Market Greatly Affected Due to COVID 19

However, there are also restraining factors like high tooling and equipment costs. Due to covid-19, the industrial mold manufacturing industry has been hit hard. The outbreak closed production activities in many sectors and thus reduced the demand for industrial mold manufacturing, consequently adversely affected. These factors will continue to slow down the market throughout 2021.

Industrial mold manufacturing heavily relies on the logistics of materials, components, and raw materials from across the globe. Since exports have fallen in the wake of covid-19, this has adversely affected the industrial mold manufacturing market.

Metal Molding to Drive Demand

Metal & Alloy, Rubber, Plastic, Glass, and Others are significant types of industrial mold market. Metal molds are widely preferred in industrial applications. Molding is a manufacturing process where a liquid raw material is shaped by pouring it into a fixed frame called a mold and allowing it to cool. The mold is a cavity made of metal into which molten glass, ceramic, metal, or plastic may be poured. The mold is made using a template made out of the end object. The prime objective of a mold is to generate identical copies of the same product.

Automotive Application to Lead the Demand

Automotive, Packaging, Medical, and Manufacturing are major industrial applications of mold. The automotive industry dominates with the vast majority of the revenue generation share in 2021. The final shape is formed as the liquid cools and solidifies inside the mold. The removal of the end product is achieved using ejection pins or some other release agent. Objects all around us are often made with the help of molding. There are several molding processes such as insert molding, over molding, liquid silicone rubber molding, and plastic injection molding. In addition, customized parts may be made using plastic injection molding. Injection molding is a typical manufacturing process. As the name suggests, the material is injected into the mold to make the final part. TRUMPF GmbH + Co. KG, Amada Machine Tools Co. Ltd., Dalian Machine Tool Group Corporation, DMG Mori AG, and U.S. Industrial Machinery are leading global industrial mold market.

Frequently asked questions about global Industrial Mold industry

Likewise other industries, COVID 19 also taken a toll on Industrial Mold market with around 14.55% decline in its revenue in 2020 as compare to 2019

Asia Pacific is the largest regional market with highest share in the total volume of Industrial Mold consumed in 2021

Strong growth of automotive segment in turn driving demand for industrial molds

Metal & Alloy segment dominated the Industrial Mold market in 2021 with over 40% share

Automotive segment was the largest application of Industrial Mold in 2021 with over 35% share

Industrial Mold Report Scope

Report Attribute Details
Market Value in 2021 USD 83,862 million
Market Value in 2028 USD 113,034 million
CAGR 4.25% between 2021 and 2028
Benchmarking Year 2021
Past data 2016 – 2021
Forecast period 2022 – 2028
Report coverage Market Size Valuation, Share Analysis and Growth Rate by Segments such as Type and Application, Company Share, Competitive Landscape and Trends Analysis
Segments covered

Type

Metal & Alloy

Rubber

Plastic

Glass

Others

Application

Automotive

Packaging

Medical

Manufacturing

Major Players Analysed TRUMPF GmbH + Co. KG, Amada Machine Tools Co. Ltd., Dalian Machine Tool Group Corporation, DMG Mori AG and U.S. Industrial Machinery
Cost of the Report Write us at [email protected]
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Executive Summary - Brief Global Market Size - Current & Forecast
Regional Market Size - North America
Country Market Size - US
Company Profile – 1
Trusted By
Godaddy
Published Date:  Mar 2022
Category:  Building & Construction
Report ID:   60514
Report Format:   PDF
Pages:   132
Rating:    4.2 (55)
Delivery Time: 24 Hours to 48 Hours   
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