2-shot Injection Molding Market Plying for Significant Growth During 2024
The
global 2-shot injection molding market has been prognosticated to
demonstrate a vastly fragmented character. This could be on account
of a substantial number of industry players operating in the market.
A report prepared by Transparency Market Research (TMR) has envisaged
a stiff competition to take shape in the market, owing to a small
share held by each player.
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By
the end of 2024, the global 2-shot injection molding market could
arrive at a valuation of around US$11.5 bn from US$6.6 bn in 2015,
according to TMR. Between 2016 and 2024, the market could expand at a
6.5% CAGR. As per application analysis, the medical market for 2-shot
injection molding has been envisioned to rise with an approximate
25.8% share by the concluding forecast year after having acquired a
dominant share in 2015. Geographically, Europe could be at the helm
of the market with a 33.9% share expected to be achieved by the same
year.
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Among
top players, Gemini Group, Inc., Paragon Rapid Technologies Limited,
Nyloncraft, Inc., and Rogan Corporation could secure a leading
position in the global 2-shot injection molding market. As per the
analysis of the report’s lead author, players have been projected
to take to improving their production volume for staying relevant in
the market. Moreover, there could a high focus on shortening the lead
time to showcase competitiveness.
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Accurate
Repeatability, Precise Production Using Single Tool Enhance Adoption
The
production of remarkably precise parts could be ensured with the
implementation of 2-shot injection molding warranting exact
repeatability using merely a single tool. With this advantage in
view, 2-shot injection molding could prove to be vital for
encouraging original equipment manufacturers (OEMs) to design and
develop an increasingly more count of products. As a result, there
could be an augmenting adoption of the process across the world. The
growth of the world 2-shot injection molding market has been
forecasted to be boosted significantly on the back of another
advantage, i.e. cost reduction. This could be achieved with execution
of a single operation for producing two component parts.
Expensive
Equipment Cost, Initial Investments Dampen Demand
One
of the main impediments of growth in the international 2-shot
injection molding market has been anticipated to be the exorbitant
cost of tools and equipment in comparison with that of those used in
conventional molding. Furthermore, manufacturers could be discouraged
to adopt 2-shot injection molding in their production processes due
to considerably extortionate initial investment costs. The restricted
choices of material pairs that could be used for 2-shot injection
molding have been predicted to stymie the market.
However,
the analysts have expected some unswerving prospects to show face in
the international 2-shot injection molding market. These could be in
the form of rising government pressure to recycle plastics. OEMs
could be encouraged to increase the adoption of 2-shot injection
molding as tight government regulations compel industries to recycle
materials. A chief advantage of implementing 2-shot injection molding
is that the core of any two component parts could be derived from
recycled plastic while doing away with any change in its property or
appearance. In this regard, the elevating uptake of recycled plastic
has been prophesied to bode well for the market.
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