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Industrial Mold Global Market Report 2024 - By Size, Demand, Outlook, Forecast BY 2033
The Business Research Company presents an extensive market research report on the Industrial Mold Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The industrial mold market size has grown strongly in recent years. It will grow from $48.49 billion in 2023 to $52.2 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth in the historic period can be attributed to manufacturing growth, automotive industry expansion, globalization and supply chain dynamics, consumer electronics boom, plastic injection molding advances, increased adoption of precision machining.
The industrial mold market size is expected to see strong growth in the next few years. It will grow to $68.42 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to advanced materials and alloys, sustainability and eco-friendly molding, precision mold design and simulation, global shifts in manufacturing hubs, high-performance aerospace materials. Major trends in the forecast period include micro-molding technology, industry 4.0 integration, mold simulation and virtual prototyping, customization and rapid tooling, robotics and automation integration.
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Key Market Players:
Major companies operating in the industrial mold market report are Asia Technical Gas Co. Pte. Ltd., Universal Industrial Gases Inc., BASF SE, Mitsubishi Chemical Holdings Corporation, Linde GmbH, Air Liquide S.A.S., Praxair Inc., Air Products and Chemicals Inc., Showa Denko K.K., Taiyo Nippon Sanso & Co. Ltd., Air Water Inc., Airgas Inc., Iwatani Corporation, Messer Group GmbH, Matheson Tri-Gas Inc., SOL S.p.A., Nippon Gases, Ellenbarrie Industrial Gases, Yingde Gases Group Co. Ltd., SIAD Group, Blue Star Limited, Standex International Corporation, Gulf Cryo, Frigoglass SAIC, nexAir LLC, Arneg S.p.A., Sapio Group, PT Samator Indo Gas TBK, SIG Gases Berhad, Gases Plus, Bhuruka Gases Limited
Market Drivers:
The growing manufacturing and production industry is expected to fuel the growth of the industrial mold market going forward. The manufacturing and production industry encompasses a wide range of activities related to the creation and assembly of goods and products. Industrial molds are versatile tools that enhance the manufacturing and production processes by enabling the cost-effective, precise, and scalable production of a wide range of products across multiple industries. For instance, in July 2023, according to the Office for National Statistics, a UK-based statistics authority, UK manufacturers achieved a total product sales value of approximately $579.5 billion (£429.8 billion) in 2022, reflecting a growth of $38.3 billion, or a 7% increase compared to the $541.2 billion (£401.5 billion) recorded in 2021. therefore, The expansion of the manufacturing and production sectors will drive the growth of the industrial mold market.
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The industrial mold market covered in this report is segmented -
1) By Type: Metal Molds, Other Material Molds
2) By Material: Plastics, Glass, Rubber
3) By Application: Manufacturing, Automotive, Other Applications
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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