Global 2-shot Injection Molding Market: Highlights
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The
global 2-shot injection molding market is
projected to grow at a CAGR of nearly 7% between 2019 and 2027.
Rising demand for high precision parts in automotive & medical industry
coupled with growing use of recycle plastics is likely to drive 2-shot
injection molding market during the forecast period.
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2-shot
injection molding is defined as the molding process, wherein a single injection
molding machine and a single injection mold is used to form a part with two or
more polymer resins within one cycle. 2-shot injection molding is sometimes
also called as 2-k injection molding and double injection molding.
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There are
several variants of the 2-shot molding process with the most common being the
core back and rotating tool processes. This molding technique is typically used
to combine hard plastics with a softer material. Some of the common
combinations of materials are PP/ABS, PC/ABS, Silicones/Thermoplastics,
TPE/Thermoplastics, Nylons/Elastomers etc.
·
2-shot
injection molding is used to improve the aesthetic and ergonomic functionality
of plastic and rubber molding products. 2-shot molding is usually to
manufacture multi-colored parts, soft-touch handles & grips, articulated
parts such as joints and hinges and technical parts for dampening vibrations.
Global 2-shot Injection Molding Market: Segmental
Trends
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In terms
of application, automotive applications was the largest segment of the 2-shot
injection molding market, accounting for more than 25% share
in 2018. However, the medical segment was projected to overtake the
automotive segment by 2027.
·
The
consumer goods and the electrical & electronics segments were also
anticipated to witness growth due to increasing number of applications of
2-shot injection molding in these segments. The packaging and industrial
segments were forecasted to witness below average growth rates during the
forecast period.
·
The opportunity
for molders to differentiate and add value to their products through 2-shot
injection molding was the prime driver for the market. In terms of product
volume, PP was the leading product segment in the 2-shot injection molding
market.
·
Silicones,
TPE, Nylons and Polycarbonate are one of the fastest growing polymers used in
2-shot injection molding. SBR, which is one of the most widely used elastomers,
is rarely used in 2-shot molding as it is incompatible with most other polymers
used in this molding process.
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Global 2-shot Injection Molding Market: Regional
Highlights
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Germany
was one of the first countries to adopt the 2-shot injection molding and the
market penetration rate of the process is high in this country. However, the
2-shot injection molding market in Western Europe is at a relatively mature
stage and is set to expand at a moderate pace during the next few years. Growth
in the medical industry due an ageing population and increasing applications of
2-shot injection molding products in the well-established automobile industry
in this Europe is likely to be the driver for growth in this market during the
next decade.
·
North
America is anticipated to be a lucrative market for 2-shot injection molding
with a large number of contract manufacturers operating in this region. The U.S
is the leading consumer of polymers used in 2-shot injection molding accounting
for around 25% of the total global consumption in 2018.
·
Asia
Pacific is projected to be the fastest growing region for the 2-shot injection
molding market during the forecast period. Growing key end-use industries and
the need for manufacturers to differentiate their products is expected to boost
the demand for polymers used for 2-shot injection molding in this region.
·
The
2-shot injection molding market in Middle East & Africa and Latin America
is anticipated to witness moderate growth during the forecast period. Brazil is
expected to be highly lucrative in the forecast period mainly due to increasing
use in medical and automobile applications. Mexico is also anticipated to
witness growth due to nearshoring of 2-shot injection molding sites by several
U.S companies.
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Key Developments in Global 2-shot Injection Molding
Market
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In April
2019, Carclo Technical Plastics Ltd (CTP) announced that its
manufacturing facility in Doddaballapur near Bangalore, India, has been
recommended by BSI for accreditation to the international standard
ISO13485:2016 for medical applications.
·
In February
2019, Carclo Technical Plastics Ltd (CTP) announces that it continues to
develop its medical/optical manufacturing facility in Brno, Czech Republic.
CTP’s strategy is to continue the manufacturing scale-up of components for drug
delivery and diagnostic devices and eyecare disposables.
·
In 2019,
BMP Medical, a division of Biomedical Polymers opened a new facility located in
Sterling, Mass for injection molding, blow molding, two-short, insert molding,
and other packaging & assembly manufacturing services.
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In March
2018, Carclo Technical Plastics Ltd (CTP) announced the official opening of
its new manufacturing facility in Mitcham, Surrey. The new 1,000m2
facility is dedicated to the manufacture BD Vystra ™ disposable pen which is
used for delivery of liquid pharmaceuticals.
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In 2018,
Rogan Corporation purchased a new Sodick TR Series 450-ton liquid silicone
rubber ultra-precision injection molding machine to add to its current array of
state-of-the-art molding presses.
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In 2018,
Pycom, an innovative Internet of Things (IoT) technology company, entered into
a strategic partnership with Season Group, a leading Global Electronics
Manufacturing Service (EMS) provider, to provide end-to-end development,
integration and manufacturing services for aspiring small to medium size
enterprises (SME) companies.
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Global 2-shot Injection Molding Market: Competition
Landscape
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The
global 2-shot injection molding market is dominated by a large number of
companies each having a small share of the market. Some players in the market
include Rogan Corporation, Bemis Manufacturing Company, Nyloncraft,
Inc., Gemini Group, Inc. Biomedical Polymers Inc., Carclo Technical Plastics,
Yomura Technologies and Evco Plastics.
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The
global 2-shot injection molding market is highly fragmented with presence of a
large number of players in the market, each holding a small share in the global
2-shot injection molding market.
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The
primary strategy adopted by molders to remain competitive is decreasing the
lead time and increasing the production volume.
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