What is the current situation of the injection molding machine industry? What are the development prospects of Chinese injection molding machine manufacturers? In the context of the COVID-19 pandemic, how has the status quo changed? This article takes you to understand the latest developments in the injection molding machine industry.
About the industrial structure of injection molding machines
Injection molding machine is the main molding equipment that uses plastic molding molds to make thermoplastic or thermosetting materials into various shapes of plastic products.
On the whole, my country's injection molding machine industry has a relatively complete industrial chain. The upstream of the industrial chain is the supplier of mechanical parts, hydraulic parts and electrical parts, the main body of the midstream is the manufacturer of injection molding machines, and the downstream of the industrial chain is mainly used in industries such as general plastics, automobiles, home appliances, and packaging.
The development status of the world's injection molding machine industry
The market size of injection molding machines in 2020 is expected to be 10.3 billion U.S. dollars, and it is expected to reach 12.3 billion U.S. dollars by 2025, with a compound annual growth rate of 3.6% from 2020 to 2025. Demand for injection molding machines is in end-use industries such as automobiles, consumer products, packaging, healthcare, electrical and electronics. Increasing demand from the healthcare industry, the rapid industrialization of economies such as Southeast Asia, and the growing demand for plastic molds for electric vehicles will drive the injection molding machine market and give birth to a large number of injection molding machine manufacturers. In terms of quantity and value, the Asia-Pacific region is the main market for global injection molding machines, followed by Europe and North America.
The impact of COVID-19 on the injection molding machine market
The Asia-Pacific region is the largest market in the injection molding machine market. The injection molding machine market was adversely affected during the COVID-19 epidemic, but this opened up new opportunities for the injection molding machine market. Recently, the demand for medical supplies in temporary hospitals and medical institutions around the world has been increasing, and the demand for injection molding machines for medical supplies has soared. The global outbreak of the coronavirus has highlighted the importance and weaknesses of the healthcare industry. Due to the surge in the number of Covid-19 cases, the demand for medical equipment such as syringes, air systems and other medical equipment has grown exponentially. With the outbreak of the epidemic in India out of control, China has become the center of manufacturing and meeting the global demand for all these equipment.
Development status of China's injection molding machine industry
China is the world's largest producer of injection molding machines. Data show that the market size of China's injection molding machine industry in 2016 was 21.159 billion yuan. By 2019, the industry market scale reached 23.302 billion yuan, an increase of 2.72% year-on-year.
China is not only a major producer of plastic molding equipment, but also a major consumer and exporter. According to statistics from the General Administration of Customs of China, from January to November 2020, my country exported 66,834 injection molding machines and imported 5,189.
Global injection molding machine industry competition
The global plastic machinery market can be divided into three levels of competition, showing a pyramid structure. Representative companies in the high-end market include international brands such as KraussMaffei, Engel, and Sumitomo; in the mid-end market, leading domestic companies such as Haitian International, Kebida, and Chen Hsong Group; while companies in the low-end market are small in scale and difficult to develop.
At present, the high-end market for injection molding machines is mainly occupied by European and Japanese companies. After a long-term focus on innovation and long-term development accumulation, the injection molding machines produced by Europe, America and Japan have advantages in the high-end market. However, China's injection molding machine industry is developing rapidly and is closing the gap with Japan and Europe. Chinese companies basically occupy the mid-end market share. In the high-end market, leading companies are narrowing the gap with import companies.
Development Trend of Injection Molding Machine
As the production equipment of plastic products, injection molding machine is one of the industrial parent machines. Its downstream is relatively scattered and covers a wide range of industries. Therefore, many different types of special machines have been produced. From 2003 to 2019, the injection molding machine output value industry has shown a cyclical change of 2-3 years of growth, 1-2 years of decline or flat. After the industry surged in 2017, the industry continued to decline in 2018-2019 due to the weak downstream of automobiles, home appliances, and 3C. In 2020, affected by the new crown pneumonia epidemic, the proportion of packaging materials such as demand-side drugs and plastic products may increase. Traditional downstream does not necessarily contribute to demand growth, but it may be replaced by 2021.
Trends of China's injection molding machine industry
Under the new situation, Chinese injection molding machine brands are ushering in opportunities. There are still many high-end injection molding machines of foreign brands in the Chinese market. For example, KraussMaffei (KM), Engel, Milacron, Husky, etc. all have production bases in China, and the price of their products is also higher than that of Chinese companies. Considering that the domestic supply chain may be less affected by the new crown pneumonia epidemic than overseas, Chinese brands such as Haitian International may enter the high-end market. At the same time, in the domestic market, second-tier brands are also trying to catch up with Haitian International. (View China Top 10 Vertical Injection Molding Machine Manufacturers)
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