The industrial mold industry consists of the sale of industrial molds by businesses (corporations, sole proprietors or partnerships) that produce industrial molds for the distribution of metals or the manufacture of other materials such as plastic, glass or rubber. Molds are rolled blocks filled with liquid or other materials such as glass, plastic, metal, or raw materials made of clay. The liquid is hardened or deposited inside the mold, using its composition. Mold is a cement partner. The standard bi-valve process of molding uses two molds, one on each part of the object.
Market Scope and Structure Analysis
The rise in demand for the molded product is a key driver for the growth of the industrial molding market. Another key factor contributing toward the molding market growth is the flexibility of the process. Therefore, it is widely used in the automotive, packaging, medical, and other industries. Expanding the molding in the food & beverage industry to make a variety of processing and packaging materials such as containers, water, and cold drink bottles, processing equipment, and distribution system systems boosts the market growth. Other important drivers are its low labor costs and mass production capacity. The growing technological advances in the molding machine are expected to provide new beneficial opportunities leading to the rapid growth of the machine molding market. Proper design improvements and technological advances can be made to blast the molding machine to take care of the needs and styles in the end user categories. In addition, the development of equipment that can reduce production at minimal maintenance costs and reduce waste and lead time will also provide opportunities for the growth of the molding market. Other opportunities lie in the invention by leading market players to develop energy-efficient and reliable equipment with features such as gas assist, foam molding. Therefore, there are many opportunities for market growth. However, there are other obstacles such as the huge threat from intruders and the high initial costs associated with the use of tools and equipment. These could have a negative impact on the growth of the industrial molding market.
COVID-19 Impact Analysis
- COVID-19 has closed the manufacturing of many products in the industrial mold market due to the lockdown. This has hampered the growth of the industrial mold market in the last few months and is likely to continue during 2021.
- COVID-19 has so far impacted the sales of the industrial mold market in the first 4 months of 2021 and is expected to create a negative effect on the growth of the market all over the year.
- The negative impact created by COVID-19 on the industrial mold market led to a decline in the shipping of industrial mold products as well as revenue received from them by 2020. Due to this, market growth declined in the first half of 2020.
- Industrial mold companies rely heavily on the supply of raw materials, components, and materials from different countries around the world. With so many governments limiting exports, manufacturers had to stop production due to a shortage of raw materials.
- The CORONA epidemic has a devastating effect on Industrial mold market prices. India, U.S., China, and Japan have been hit hard by the epidemic, are the key players in the production of industrial mold products that are being promoted worldwide. The electronics & semiconductor, automotive, energy & power, industrial, medical, military & defense see little hope, which is expected to continue for a brief period due to land recession.
Top Impacting Factors
Conformal cooling design is used by producing industry in 3D-printed molding so that it gives superior cooling to molded products. Conformal gives more complex geometric construction and overcomes issues such as lumpy cooling add warp, complex curves, strong tolerance, and thin walls. Mold production companies offer built-in cooling designs made inside their 3D-printed molds that reduce cooling cycle time and energy consumption from 10–60%. The widespread use of rubber in health care, aerospace, automotive, electronics, transportation, sports and recreation, and sound management, has been driven by low energy and carbon consumption. In addition, synthetic rubber is used in many applications in the healthcare industry because of its capabilities such as avoiding excessive reactions while transferring fluid into the arteries. The constant use of car dealerships will lead to an increase in tire replacement rates. Therefore, developments in the automotive industry accelerate the growth of the industrial mold market during the forecast period.
- North America is the huge area in the world industrialized mold market, responsible for 35% of the market in 2018. Asia-Pacific is the second largest area with a 30% share in the global manufacturing market. Africa was the smallest region in the global industrialized mold market.
- Technological advances in the molding machine are expected to provide new beneficial opportunities leading to the rapid growth of the machine molding market. Proper design improvements and technological advances can be made in the molding machine to take care of the needs and styles in the end user categories
- Five axis machines launched by DMG MORI a U.S. company automated production in June 2021. DMG MORI fills a portion of high-speed equipment centers with the new DMP. Based on the same quality certified components as DMP 70, which enables DMG MORI to produce complex workpieces from a variety of materials from aluminum to titanium very efficiently, reliably, and directly - even in the smallest area. At 3.15 m² with a minimum dislocation of 2,280 mm, the DMP 35 makes good use of solid production facilities.
Key Benefits of the Report
- This study presents the analytical depiction of the industrial mold market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the industrial mold market share.
- The current market is quantitatively analyzed to highlight the industrial mold market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed industrial mold market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the Mobile Cranes Report
- Who are the leading global players in the "industrial mold market" market?
- What are the current trends and predicted trends?
- What is "industrial mold market"?
- What is "industrial mold" market prediction in the future?
- What are the challenges faced in the "industrial mold" market?
- What are the driving factors and opportunities in the market?
- What are the key benefits of the "industrial mold" market report?
Industrial Mold Market Report Highlights
By Mold Type
Key Market Players
NetShape Technologies, TRUMPF, Amada, DMTG, U.S. Industrial Machinery, DMG Mori, Dynacast International, Smith Metal Products, Indo-MIM, ARC Group Worldwide