Plastic Molds Market: An Overview
Plastic mold is a production tool used for manufacturing various plastic products such as bottles & jars, pails, caps & closures, tubes etc. The shape of the plastic mold highly influence the shape of the finished product. Plastic molds are usually made of metals and its alloys such as aluminum, stainless steel etc. the global plastic molds market is driven by its variety of applications in wide range of end-use industries and need to change after the specific usage. The primary focus of the plastic product manufacturers is to produce precise products. The demand for plastic molds is going to flourish owing to its key application in beverage bottle manufacturing. Packaging products made of plastic are preferred owing to its ease in availability, cost effective, light in weight etc. Furthermore, plastic molds can be of different configurations such as single component and multi-components.
Plastic Molds Market: Drivers & Restraints
The global plastic molds market is anticipated to flourish as plastic bottles expected to face a substantial demand from packaging industry. One of the key advantages of plastic mold is the customizability. The packaging industry has witnessed a significant changes in the last decade, creating a need for customization. Plastic molds are used in a wide range of applications to cater to various end-use industries such as food & beverages, chemicals, petroleum & lubricants, automotive industry, healthcare & pharmaceuticals, homecare & personal care. Plastic mold manufacturers focus on precision for producing plastic packaging products. The designing of the plastic molds is being integrated with the various software for accurate product manufacturing. Plastic mold can be molten and can be redesigned for manufacturing the new specification of the desired product. For the tight-tolerance, molds are manufactured using steel for durable performance. These factors are expected to further propel the demand for plastic mold in the global plastic mold market during the forecast period.
Despite the positive outlook, some factors might hamper the growth of the global plastic mold market during the forecast period. One of key factor for the plastic mold is the high production cost as the number of cavities increases the cost of the plastic mold increases. More cavities in the plastic mold may lead to maintenance issues.
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Plastic Molds Market: Segmentation
The global plastic molds market has been categorized on the basis of product type, material type, and end-use.
On the basis of material type, the global plastic molds market has been segmented as:
- Other metals & alloys
On the basis of packaging technology, the global plastic molds market has been segmented as:
- Injection Molding
- Blow Molding
- Compression Molding
- Rotational Molding
On the basis of configuration, the global plastic molds market has been segmented as:
- Single Component
On the basis of application, the global plastic molds market has been segmented as:
- Bottles & Jars
- Pails & Buckets
- Boxes & Folding Cartons
- Caps & closures
On the basis of end use, the global plastic molds market has been segmented as:
- Food & Beverages
- Petroleum & Lubricants
- Healthcare & Pharmaceuticals
- Home care & Personal care
- Electrical & Electronics
- Other Consumer Goods
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Plastic Molds Market: Regional Outlook
Globally, the market for Plastic Molds is divided into seven key regions – North America, Western Europe, Latin America, Eastern Europe, the Asia Pacific excluding Japan, Middle East & Africa, and Japan.