MARKET ANALYSIS
2-Shot Injection Molding, also known as double shot or dual shot injection molding, is a process of molding plastic so that two different kinds of plastic resins are molded into one machining cycle. Some benefits of injection molding machines are superior quality, augmented appearance, and increased robustness of the components. During the production of 2-shot injection molding, the companies are enhancing their focus on sharpening their automation and mold-making skills. Surging demand for electronic products, automotive parts, medical devices, and consumer goods are driving the growth of the 2-shot injection molding market.
GROWTH DRIVERS AND CHALLENGES
The increasing industrialization and growth of many end-user industries in developing economies invigorate the market's growth. Application of 2-shot injection in the pharmaceutical sector has increased to a large extent, and this further bolsters the growth of the market. In addition, the injection molding technique enables the mass manufacture of plastic goods with less resource waste. Consequently, the low production costs and good reproducibility are growing its industry share. Many technological advancements in the process of manufacturing will drive the expansion of the market. The awareness of the benefits of 2-shot injection molding compared to the traditional one has increased, which leads to augmentation in the market's growth. However, the maintenance of 2-shot injection molding is quite expensive, which can hamper the growth of the market. The firm regulations on the use of plastics coupled with variations in raw materials prices can decline the growth of the 2-shot injection molding market.
REPORT SEGMENTATION AND SCOPE
The "Global 2-Shot Injection Molding Market Analysis to 2030" is a specialized and in-depth study with a major focus on the global market trends and growth opportunities. The report aims to provide an overview of the global market with detailed market segmentation by product, application, and geography. The global 2-shot injection molding market has been witnessing high growth over the recent past and is expected to continue this trend during the forecast period. The report provides key statistics on the consumption of 2-shot injection molding worldwide along with their demand in major regions and countries. In addition, the report provides the qualitative assessment of various factors affecting the 2-shot injection molding market performance in major regions and countries. The report also includes a comprehensive analysis of the leading players in the 2-shot injection molding market and their key strategic developments. Several analyses on the market dynamics are also included to help identify the key driving factors, market trends, and lucrative opportunities that would, in turn, aid in identifying the major revenue pockets.
Further, ecosystem analysis and Porter’s five forces analysis provide a 360-degree view of the global 2-shot injection molding market, which helps understand the entire supply chain and various factors affecting the market growth.
SEGMENTAL ANALYSIS
The global 2-shot injection molding market is segmented on the basis of product and application. Based on product, the soil treatment market is segmented as polypropylene, polycarbonate, ABS, polystyrene, silicone, styrene-butadiene rubber (SBR), and others. On the basis of application, the market is classified as medical, automotive, consumer goods, electrical and electronics, packaging and others.
Based on the product, the polypropylene segment witnesses the highest growth. Polypropylene finds its wide application in electrical contacts and food packaging. This is attributed to the electrical insulation and corrosion resistance properties of polypropylene. The high response of polypropylene to injection speed and pressure enables it to set up in the mold quickly; thus, the molders can attain a high rate of production. This versatility further drives the segment's growth during the predicted timeframe.
REGIONAL ANALYSIS
The report provides a detailed overview of the global 2-shot injection molding market with respect to five major regions, namely, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. Asia Pacific will dominate the 2-shot injection molding market in the predicted timeframe owing to the surging demand from end-use verticals such as electronics, medical, consumer goods, and automotive. The low labor costs and excessive availability of raw materials in China lead to its large capacity of production, thus predicting it to be one of the major economies driving regional growth. The availability of robust and largely structured consumer goods is increasing by the companies in the China 2-shot injection molding market. The popularity of handle 2K injection molding and cover shell 2K Injection molding is increasing. Further, hiring business development engineers by the manufacturers of the market to find if the pre-designs of the client are moldable or not is accelerating the market's growth in the region.
INDUSTRY DEVELOPMENTS AND FUTURE OPPORTUNITIES
Partnership, acquisitions, and new product launches were found to be the major strategies adopted by the players operating in the global 2-shot injection molding market.
- March,2022: Westec Plastics announced the addition of three new Arburg two-shot injection molding machines—two 550-ton presses and one 275-ton press—with each machine featuring indexing platens to rotate molds to receive multiple shots.
- September,2020: -Dymotek Corp., a custom molder focused on the demanding niche of liquid silicone molding, has hired well-known industry veteran Daniel Schölmberger to help it further develop its next-generation LSR and two-shot molding technologies.
IMPACT OF COVID/IMPACT OF GEOPOLITICAL SCENARIO/IMPACT OF RECESSION
Covid-19 has spread worldwide to a large extent since 2019. The US, Brazil, Russia, India, Italy, Spain, and others were badly affected regarding reported deaths and confirmed cases. The ever-evolving COVID-19 strains have affected the growth of the 2-shot injection molding market. Business shutdowns, lockdowns, travel bans, and many such issues have affected the manufacturing, sales of products worldwide, and supply chains at global levels. The substantial government interference, variations in the behavior of customers, and market forces dynamics will cumulatively affect the growth of the 2-shot injection molding market. However, the production of test kits has bolstered the market after the second wave of the coronavirus pandemic. During the pandemic, plastic production peaked due to the increasing demand for personal protective equipment. Such high demands from the healthcare sector have fueled the growth of the market to a large extent.
The economy worldwide is at a turning point as a number of interconnected crises occur concurrently. The issue on the inflation front is still present due to the uncertainty about Russia and Ukraine conflict, which ultimately leads to cause global instability. Inflation of gasoline and food will continue to be a significant economic issue. Consumer confidence and spending will be impacted by higher retail inflation. As businesses delay investments due to concerns about inflation and less demand, capital expenditure will likely reduce. There is the possibility that the globe could experience more severe manufacturing interruptions and a decline in the supply chain. Rising trade tensions and volatile financial markets can together hamper the growth of the 2-shot injection molding market.
COMPETITIVE LANDSCAPE AND KEY COMPANIES
Some of the key players operating in the 2-shot injection molding market include, Gemini Group, Inc, Techniplas, SIMTEC Silicone Parts, LLC, Carclo plc, YOMURA, CMG Plastics, Bemis Manufacturing Company, Biomedical Polymers Inc., BMP Medical, Girard Rubber Corporation, CM International Industries Corp., Paragon Rapid Technologies, Season Group, Evco Plastics, Rogan Corporation, and Nyloncraft, Inc. among others.
REGIONAL FRAMEWORK
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
The List of Companies
1. Gemini Group, Inc.
2. YOMURA
3. Bemis Manufacturing Company
4. EVCO Platics
5. Rogan Corporation
6. SIMTEC
7. Season Group
8. DONGGUAN SINCERE TECH CO.LTD
9. Dymotek
10. Techniplas US, LLC
11. Laszeray Technology, LLC
12. Paragon Rapid Technologies
13. Fast Radius, Inc
14. HAFO MOULD
15. Spark Mould
16. Baytech Plastics Inc.
17. HiTech Plastics and Molds
18. VIKING PLASTICS
19. Trelleborg Group.
20.Wabash Plastics
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
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For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
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- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
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Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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