A hot runner system is a combination of heated components that are injected into the cavities of mold through plastic injected molds. A hot runner system can efficiently deliver liquid plastic to several mold cavities to create a plastic product. The heated plastic moves from the molding machine nozzle through internal channels called runners, and can be transferred directly into multiple cavities at the same time. The hot runner systems are increasing in popularity, as it never lets the plastic to solidify in the runners. This reduces the cycle time supporting faster processing. Another advantage of this system is a decrease in plastic waste, as the material does not harden until the mold is loaded. The lack of a sprue system considerably cuts down on the quantity of trimming needed to smooth the final product. Hot runners work through an added manifold, which is bolted to the mold assembly. These features are contributing to the upcoming growth in the demand for the hot runner temperature controller market.
Using hot runner temperature controllers (HRTC) usually make the mold more expensive to produce. However, it also helps to save by dropping the plastic waste and decreasing the cycle time. The hot runner controllers can efficiently perform the functions of fully integrated controllers at a reasonable price. The operation of hot runner controllers is user-friendly with high reliability and accurate temperature control. Moreover, the hot runner controllers allow stable temperature control for hot sprue bushings, machine nozzles, runners/spineless injection molds, and other applications with a requirement of the thermocouple to analyze the temperature. Furthermore, manufacturers are increasingly investing in R&D activities to innovate and expand their portfolio of hot runner temperature controllers. The worldwide hot runner temperature controller market has previously witnessed a rising demand from automotive and healthcare sectors.
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Markets Heavy Reliance on Manufacturing Industries Faced Difficulties Amid Pandemic
The COVID-19 pandemic has resulted in a slowdown in various economic activities across the world. Almost all the industries came to a halt due to strict guidelines to contain the spread of coronavirus. The manufacturing sector faced closure and suspension of several projects due to inadequate workforce, insufficient raw materials, and restricted trade activities globally. Various businesses were shut due to heavy losses and dependence on the supply chain. However, many leading and developing companies made adjustments and business strategies to overcome the economic effects of the pandemic. Many major organizations were found collaborating with local industries to fulfill the incomplete projects. Moreover, several brands in multiple sectors are heavily dependent on projects outsourced in South Asian countries. Very strict restrictions for production and trade in this region due to the heavy spread of coronavirus have affected the production rate impacting the businesses and their finances. Thus, the global hot runner temperature controller market witnessed a massive hindrance in growth amid the pandemic.
Mass inoculation projects are expected to revive the growth of the global hot runner temperature controller market. Stakeholders are proportionately reliant on fully operational production plants in Asia Pacific countries. Due to the unpredictability of events, businesses are adopting contingency planning to predict possible outcomes, owing to delay in the recovery of the market and global economy. As such, businesses in the value chain are being pressured to meet emission targets, especially for high-energy consumption applications. With pandemic nearing its end in various nations, rapid vaccination drives, extending limitations the markets are expected to restore to normal very shortly. With various players planning their post-COVID-19 practices, the market is projected to overcome the present restraints in the near future.
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Automobile Industry Most Likely to Dominate End-use Segment
A hot runner system is designed to be user-friendly and can operate in any given arrangement without a dedicated temperature controller. However, better quality products are designed to last long with enhanced features. Some major leading products are expanding their product portfolios to expand the hot runner temperature controller market. Systems with constant temperature in the molds can help to ensure that the plastic is held at the ideal temperature during the injection molding process. Besides, when components are heated gradually, the system can produce more even heat distribution. This is crucial for creating the best quality product. Hot runner systems with temperature controllers can work with minimum operator interference. Moreover, they can be kept within the most productive temperature ranges. This interprets more mold uptime and productivity.
The market is witnessing an increased demand for plastic components in the production of flexible packaging, pipes, insulation, and coatings, and medical devices. The automotive sector has been growing at a constant rate with replacing metals with plastic, resulting in decreased car weight. The automotive segment is projected to dominate the end-use segment due to the increasing demand for lightweight vehicles. The automobile industry is expected to witness a surge in demand in the upcoming years, which is most likely to influence the global hot runner temperature controller market during the forecast period.
The hot runner temperature controllers are trending due to their decreased defection in products, meaning less scrap. In addition, controllers are proven to use plastics most efficiently. The constant temperatures ensure that wear is carefully managed. There is also a reduced likelihood of clogging. All these factors are contributing toward increasing demand for the hot runner temperature controller market during the forecast period.
Increased Efficiency in Energy, Time, Reliability Boosts Market Demand
The expanding usage of high-quality injection-molded plastic products in end-use applications is the principal factor driving the hot runner controller market. The growing adoption of a hot runner controller due to various advantages, such as energy saving, efficiency, and productivity, thus driving the hot runner controller market. Steady economic growth and promising government regulations related to advancements in the industrial sector are positively influencing the growth of the hot runner controller market. Furthermore, technical advancements and uniformity in components, analysis tools, and modular design advancements are likely to create lucrative growth opportunities for key players of the hot runner controller market in the upcoming years. The hot runner temperature controller market is expected to exceed the value of US$ 1 Bn by 2031, at a CAGR of 8% during the forecast period.
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