The new report by Expert Market Research titled, ‘Global Hot Runner Market Size, Share, Price, Trends, Report and Forecast 2023-2028’, gives an in-depth analysis of global hot runner market, assessing the market based on type, application and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2020): USD 2860 million
- Forecast CAGR (2023-2028): 7%
Increased use of injection molding for plastics production is fueling the rise of hot runner and is securing new customers. The use of plastics is rising in many industries including construction, automotive, electronics, and medical due to the long shelf life afforded using plastics. Molded plastic items are used in several product and packaging applications.
Hot Runner Industry Definition and Major Segments
Hot runner systems enable molten plastic flow from the machine nozzle to the cavity. Hot runner systems reduce plastic waste during injection molding. The systems have nozzles, manifolds, flow controllers, connectors, and hot valves.
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Types:
- Valve Gate Hot Runner
- Open Gate Hot Runner
Applications:
- Automotive Industry
- Electronic Industry
- Medical Industry
- Packaging Industry
- Others
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Hot Runner Market Trends
The automotive industry sector held the greatest market share and is predicted to grow at the fastest rate throughout the forecast period. Although due to continued pandemic and rising medical spending, medical industry will experience significant increase.
North America is the largest market, with Asia-Pacific coming in second. Hot runner systems have seen significant adoption in such areas as packing and electronics. The recent developments include the fabrication of electric valve gate hot runners, which ensures efficiency, responsiveness, and precision. The market in Asia Pacific is anticipated to grow at a rapid pace during the forecast period.
Key Market Players
The major players in the market are Barnes Group Inc. (NYSE: B), Caco Pacific Corporation, EWIKON Molding Technologies Inc., Fast Heat UK Ltd, FISA Corporation, GÜNTHER Heisskanaltechnik GmbH, Husky Injection Molding Systems Ltd. and among others. The report covers the market shares, capacities, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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