13-06-22 Mould market
Metal Molds Market for Plastic Injection Molding size was valued at USD 4.16 billion in 2020 and is estimated to exhibit a CAGR of over 3.4% from 2021 to 2027.
A hollow metal block into which molten plastic is injected to form a particular fixed shape is known as a mold.
Growing product penetration in automotive sector will be a main driver expecting the growth of the product consumption in coming years.
In light of strict environmental regulations, automobile OEMs are shifting from metals to plastics as an effective solution to minimize automotive weight and increase fuel efficiency. Replacing metal components with identical lightweight injection molded plastic parts that are just as durable as metal components will help with fuel efficiency, operational cost reductions, and emission requirements. Injection molding is generally used in the production process of plastics due to its ability to mass produce high-quality and consistent parts from a board range of plastics. Plastic injection molding has become a staple in the automotive industry.
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