2-Shot Injection Molding Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

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 2031" 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,2021: -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 2021. 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.

2-Shot Injection Molding Report Scope