Albany, NY -- (SBWIRE) -- 04/09/2018 -- The global 2-shot injection molding market has been prognosticated to demonstrate a vastly fragmented character. This could be on account of a substantial number of industry players operating in the market. A report prepared by Transparency Market Research (TMR) has envisaged a stiff competition to take shape in the market, owing to a small share held by each player.
By the end of 2024, the global 2-shot injection molding market could arrive at a valuation of around US$11.5 bn from US$6.6 bn in 2015, according to TMR. Between 2016 and 2024, the market could expand at a 6.5% CAGR. As per application analysis, the medical market for 2-shot injection molding has been envisioned to rise with an approximate 25.8% share by the concluding forecast year after having acquired a dominant share in 2015. Geographically, Europe could be at the helm of the market with a 33.9% share expected to be achieved by the same year.
Among top players, Gemini Group, Inc., Paragon Rapid Technologies Limited, Nyloncraft, Inc., and Rogan Corporation could secure a leading position in the global 2-shot injection molding market. As per the analysis of the report's lead author, players have been projected to take to improving their production volume for staying relevant in the market. Moreover, there could a high focus on shortening the lead time to showcase competitiveness.
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Accurate Repeatability, Precise Production Using Single Tool Enhance Adoption
The production of remarkably precise parts could be ensured with the implementation of 2-shot injection molding warranting exact repeatability using merely a single tool. With this advantage in view, 2-shot injection molding could prove to be vital for encouraging original equipment manufacturers (OEMs) to design and develop an increasingly more count of products. As a result, there could be an augmenting adoption of the process across the world. The growth of the world 2-shot injection molding market has been forecasted to be boosted significantly on the back of another advantage, i.e. cost reduction. This could be achieved with execution of a single operation for producing two component parts.
Expensive Equipment Cost, Initial Investments Dampen Demand
One of the main impediments of growth in the international 2-shot injection molding market has been anticipated to be the exorbitant cost of tools and equipment in comparison with that of those used in conventional molding. Furthermore, manufacturers could be discouraged to adopt 2-shot injection molding in their production processes due to considerably extortionate initial investment costs. The restricted choices of material pairs that could be used for 2-shot injection molding have been predicted to stymie the market.
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However, the analysts have expected some unswerving prospects to show face in the international 2-shot injection molding market. These could be in the form of rising government pressure to recycle plastics. OEMs could be encouraged to increase the adoption of 2-shot injection molding as tight government regulations compel industries to recycle materials. A chief advantage of implementing 2-shot injection molding is that the core of any two component parts could be derived from recycled plastic while doing away with any change in its property or appearance. In this regard, the elevating uptake of recycled plastic has been prophesied to bode well for the market.
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