Press release
Global Trends Overview: The Rapid Evolution of the Industrial Mold Market
Industrial Mold
Industrial Mold Market Size and Growth Outlook Through 2029
The industrial mold market is predicted to reach a valuation of $70.42 billion by 2029, growing at a compound annual growth rate (CAGR) of 6.8%. This expansion is supported by the integration of advanced materials and alloys, a rising focus on sustainability and eco-friendly molding techniques, precision mold design and simulation technologies, the global realignment of manufacturing hubs, and the use of high-performance materials in aerospace applications. Key trends shaping this market include micro-molding technology, the adoption of Industry 4.0 practices, the use of mold simulation and virtual prototyping, customization and rapid tooling innovations, plus the incorporation of robotics and automation systems.
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Leading Companies Driving the Industrial Mold Market
Several prominent companies play a crucial role in the industrial mold sector. These include BASF SE, The Dow Chemical Company, The Cannon Group Inc., Toshiba Machine Co. Ltd., Berry Global Inc., Amcor PLC, Eastman Chemical Company, Sumitomo Heavy Industries Ltd., Silgan Holdings Inc., The TRUMPF Group, Ube Industries Ltd., Aptar Group Inc., Vitro S.A.B. de C.V., DMG Mori Co. Ltd., ENGEL Austria GmbH, Haitian International Holdings Ltd., Milacron Holdings Corp., Stratasys Ltd., Proto Labs Inc., Nissei Plastic Industrial Co. Ltd., Takween Advanced Industries, Husky Injection Molding Systems Ltd., ALPLA India Pvt. Ltd., Amada Pvt. Ltd., US Industrial Machinery, Arburg GmbH + Co KG, KraussMaffei Group GmbH, StackTeck Systems Ltd., Rosti Group AB, Sino Mould Co. Ltd., and Apex Plastics.
Significant Market Moves Reflecting Strategic Growth
A notable transaction took place in July 2024, when Blackford Capital, a US investment firm, acquired Industrial Molding Corporation. Terms of the deal were not disclosed. This acquisition underlines Blackford Capital's strategic intent to strengthen its injection molded plastics capabilities, especially within the automotive sector. Industrial Molding Corporation, based in the US, specializes in providing industrial molds for various applications.
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Collaboration Trends Driving Innovation in Industrial Mold
Partnerships and collaborations are becoming increasingly important in the industrial mold market, as companies seek to expand their technological capabilities and competitive positioning. One example is the partnership formed in September 2022 between X2F, a US molding technology company, and Covestro AG, a German plastic component manufacturer. Together, they developed a thermally conductive automotive heat sink featuring in-mold electronics, leveraging X2F's advanced controlled viscosity molding technology. This innovative product offers automotive OEMs and processors a lightweight, cost-effective alternative to traditional cast aluminum heat sinks. The process allows delicate electronics to be molded in place, enabling integrated functionality, improved heat management, modularity, and miniaturization.
Industrial Mold Market Segmentation Explained
The industrial mold market report also categorizes the market based on several key segments, including manufacturing technology, form, and application. The manufacturing technologies identified are the Siemens Process, Fluidized Bed Reactor (FBR) Process, and Upgraded Metallurgical-Grade Silicon (UMG) Process. Forms covered in the report include chips, chunks, and rods. The main applications are solar photovoltaic and electronics.
Further, each manufacturing technology is broken down into subcategories. The Siemens Process is divided into Traditional Siemens Process, High-Temperature Siemens Process, and Modified Siemens Process. The Fluidized Bed Reactor Process subsegments include Direct Silane Deposition, High-Purity FBR Process, and Low-Temperature FBR Process. The Upgraded Metallurgical-Grade Silicon Process includes Silicothermic Process, Electrochemical Reduction Process, and High-Efficiency UMG Silicon Process.
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