Publication Month: Sep 2021 | Report Code: TIPRE00024896 | No. of Pages: 160 | Category: Electronics and Semiconductor | Status: Published
Plastic is transformed from a raw material to a proper form using hot runner controllers. Demand for hot runner temperature controller Market has increased with surge in the need for molded plastic in the automotive, home appliance, electrical, and electronics industries. Due to the suitability of versatile plastic components in flexible packaging, pipelines, insulation and coatings, and medical devices, customers’ demand for hot runner temperature controller devices is on rise. Furthermore, increased demand from the construction industry due to the widespread use of injection-molded plastics in flooring, roofing, pipelines, walls, insulation, and windows has boosted the demand.
Injection molding is one of the most widely used plastics manufacturing processes, as it is capable of providing a realistic solution for the mass production of high-quality injection automobile parts from various polymers. Automotive plastic injection molding is a critical production technique in the automotive sector, where consistency, safety, and quality are crucial. Medical plastic parts are subjected to rigorous quality checks in all the phases, ranging from the prototype phase through high-volume production phase. Disposable packaging, syringes, petri dishes, and test tubes are among the medical products available, as are parts for sensors, diagnostic equipment, and plastic implants. Medical-grade plastics feature a wide range of properties; a majority of these are delicate and can only be manufactured within a narrow processing window. Mold Hotrunner Solutions Inc., for instance, offers high-performance hot runner systems named Rheo-Pro for producing medical parts. Thus, the use of hot runners significantly reduces production costs by eliminating the requirement of cold runners, and related part handling and regrind materials.
Furthermore, plastic injection-molded parts are subject to stringent regulations in the packaging business. Thin-walled, lightweight molded parts, as well as the maximum manufacturing capacity, are examples of this. MHS offers a variety of plastic injection molding options, including thin-walled containers and closures as well as PET bottle preform molds, for high-volume packaging. Plastics play a significant role in the building industry's evolution; items made from this material are increasingly being used by architects, engineers, and developers due to their material properties, strength, appearance, manufacturability, and durability. MHS provides injection molding solutions for various applications, including flooring systems, roofing, siding, fence, irrigation, plumbing, fittings, fasteners, and machines.
Thus, the growing use of molded plastics in automotive, medical devices, construction, and packaging industries is boosting the hot runner temperature controller market growth.
The COVID-19 pandemic hit almost all industries across the world in FY 2020 due to lockdown measures imposed by various countries, which disrupted supply chain of different industries as well as generated a demand & supply gap in different industries. The packaging industry in North America has faced many challenges due to suspended or disturbed operations in the food & beverages, automotive, and medical industries. Assembly plants and supplier facilities in different countries in North America were closed in March and May 2020. Moreover, restrictions enacted on transportation and logistics operations created further challenges for industrial operations. Slowdown in industrial manufacturing and delays in scheduled periodic equipment maintenance activities across different facilities further caused a stir in the industrial sector, further lowering the demand for hot runner temperature controller systems.
Further, consumer habits have changed during the COVID-19 pandemic owing to a surge in preference for home delivery of food and other products that has led to a great requirement of packaging materials such as plastics. Therefore, the requirement of the large amount of plastic production is increasing across the region. Also, decline in investments across industrial facilities, amid the industrial crisis, has hindered the growth of the industrial automation technologies.
Industry 4.0 and the Internet of Things (IoT) play a vital role in the automation and plastic molding processes. Technological enhancements such as integrating linked devices with the Internet of Things (IoT) and smart sensors are among the key factors contributing to the hot runner temperature controller market growth. These cutting-edge technologies aid real-time data collection and analysis for the plastic molding process, lowering the risk of production flaws and errors. In molding, temperature controllers are utilized to modify valve pin timing, and monitor and manage the molding process. The incorporation of temperature and pressure sensors in molds maximizes molding efficiency, and it further indicates the ongoing innovations for improving the quality of various parts. Moreover, new electric valve gate technologies allow a faster response to valve pin opening. Furthermore, improved controller technologies make communication between the press and the valve pin working sequence easier. In-cavity sensor technologies also enable hot runner systems to adjust to differences between the viscosities of various materials. As the industry transitions to bio-resins, these viscosity variances may become much more pronounced, necessitating the use of closed-loop communication to regulate temperatures inside the hot runner system, thereby bringing more stability in the process.
The features of profiTEMP+ hot-runner temperature controller offered by Meusburger make the setup more accessible and enable the Industry 4.0 capability on the back of a new connection for a radio-frequency identification (RFID) reader; a new setup wizard makes system configuration easier. The RFID reader and connection allow enhanced communication and information-sharing capabilities to numerous equipment and devices, which helps firms in transition toward Industry 4.0. Other factors, including the introduction of Industry 4.0 and favorable government regulations for the use of lightweight plastic molding systems, are expected to further propel the industry growth in the coming years.
Based on type, the hot runner temperature controller market is bifurcated into valve gate hot runner and open gate hot runner. In 2020, the valve gate hot runner segment led the market, accounting for a larger market share.
Based on application, the hot runner temperature controller market is segmented into automotive industry, electronic industry, medical industry, packaging industry, and others. In 2020, the packaging industry segment accounted for the largest market share.
Based on control zone, the hot runner temperature controller market is segmented into up to 12 zones, 12–48 zones, 48–72 zones, 72–108 zones, 108–144 zones, 144–180 zones, 180–216 zones, and above 216 zones. In 2020, the 12–48 zones segment accounted for the largest market share.
|Market Size Value in||US$ 124.31 million in 2021|
|Market Size Value by||US$ 203.17 million by 2028|
|Growth rate||CAGR of 7.3% from 2021-2028|
|No. of Pages||160|
|No. of Tables||80|
|No. of Charts & Figures||87|
|Historical data available||Yes|
|Segments covered||Type, Application and Control Zone|
|Regional scope||North America, Europe, Asia Pacific, Middle East & Africa, South & Central America|
|Country scope||US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Free Sample Copy Available|
The players operating in the hot runner temperature controller market adopt strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market. A few developments by key players are listed below:
The List of Companies - Hot Runner Temperature Controller Market