Transparency Market Research observes that the global
2-shot injection molding market is highly fragmented due to the
strong presence of a large number of players present in the market.
As each player holds a small share, the market is witnessing stiff
competition. Some of the leading players in the global 2-shot
injection molding market are Rogan Corporation, Nyloncraft, Inc.,
Paragon Rapid Technologies Limited, and Gemini Group, Inc. “These
players are expected to focus on reducing the lead time to remain
competitive in the market and increasing the production volume to
remain relevant to the market,” states the lead author of this
research report.
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The research report states that the global 2-shot
injection molding market is was worth US$6.6 bn by the end of 2015
and is projected to reach US$11.5 bn by the end of 2024. During the
forecast years of 2016 and 2024, the global market is projected is
rise at a CAGR of 6.5%.
Europe to Dominate Global Market as OEMs Focus on
Reducing Production Costs
Geographically, the global 2-shot injection molding
market is segmented into North America, Europe, Asia Pacific, Latin
America, and the Middle East and Africa. Of these, Europe is expected
to show indomitable dominance in the global market in the coming
years. Despite a minor slip, the region is poised to acquire a share
of 33.9% by the end of 2024. The emerging trend of large scale
adoption of 2-shot injection molding process to reduce the cost of
production and labor costs across Europe has kept the region in the
lead.
On the basis of applications, the global 2-shot
injection molding market is segmented into automotive, medical,
consumer goods, electrical and electronics, packaging, and
industrial. Of these, the medical segment held the dominant share in
the overall market in 2015. The report estimates that this segment
will acquire a share of 25.8% by the end of 2024.
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Precision in Production to Drive Global Market
2-shot injection molding ensures production of
exceptionally precise parts with accurate repeatability with just a
single tool. This advantage has encouraged OEMs to develop and design
increasing more of products by using 2-shot injection molding,
thereby increasing the adoption of this process and products across
the globe. The considerable cost reduction by using 2-shot injection
molding process, as it enables the production of two component parts
in a single operation has also boosted the growth of this market.
The report also suggests that the global market is
being driven by the increasing pressure from the governments to
recycle plastics. Stringent governmental regulations compelling
industries to recycle materials has played a significant role in
convincing OEMs to adopt 2-shot injection molding processes. The key
advantage of using 2-shot injection molding process is that the core
of any two-component parts is derived from the recycled plastic,
without changing its look or property. Thus the increasing uptake of
recycled plastics is expected to have a positive impact on the global
market.
High Initial Investment Estimated to Hamper Market
Growth
The high cost of tooling and equipment of 2-shot
injection molding as compared to traditional molding is the chief
restraint in the global market. The significantly higher initial
investment costs has discouraged manufacturers from opting for 2-shot
injection molding for their production processes. The market is also
being stymied by the limited choice of material pairs that can be
used for 2-shot injection molding. Furthermore, the long lead time of
2-shot molding machines is also estimated to hamper the growth of the
market in the coming years.
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This review is based on Transparency Market
Research’s report, titled “2-shot Injection Molding Market -
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast
2016 - 2024.”
The global 2-shot injection molding market has
been segmented as follows:
2-shot Injection Molding Market - Product Analysis
- Polypropylene
- Polycarbonate
- Acrylonitrile Butadiene Styrene (ABS)
- Polystyrene
- Other Plastics (Nylons, PBT etc.)
- Silicones
- Styrene Butadiene Rubber (SBR)
- Thermoplastic Elastomers (TPE)
- Other Elastomers (Nitrile Rubber, Natural Rubber etc.)
2-shot Injection Molding Market - Application
Analysis
- Medical
- Automotive
- Consumer Goods
- Electrical & Electronics
- Industrial
- Packaging
- Others
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