Industrial Mold Market

A three-dimensional object used to create things, surfaces, or parts is known as a mold. The term "industrial mold" refers to plastic molds used in producing products such as toys, automotive parts, and medical devices. The industrial mold market is rapidly expanding as more businesses invest in molding technology to improve their manufacturing processes.

During the forecast period of 2018–2031, the industrial mold market is expected to grow at a CAGR of **%. The increased demand for castings, plastics, and composites is attributed to their various advantages, such as their lightweight nature, high strength and stiffness, low heat resistance, and dimensional stability.

The industrial mold market is segmented by product type (food and beverage, pharmaceuticals, oil and gas, electronics), end-use industry (manufacturing, construction, engineering), and region.

Geographically, North America is expected to have the highest revenue share in the industrial mold market, followed by Europe. However, during the forecast period, Asia-Pacific is expected to have the fastest growth rate.

Some of the major factors driving the growth of this market include increased demand for engineered products, an increase in the number of enterprises adopting manufacturing technologies, and an increase in company R&D investments. In addition, the introduction of new products and the expansion of product lines also help the growth of this market.

3M Company, Eaton Corporation, Schreiber Incorporated, E.I. DuPont de Nemours and Company (DuPont), Mitsubishi Heavy Industries Ltd., NTNU Norsk Teknologisk Naeringsmiddel AS (NTNU), and IMI plc are some of the key players in the industrial mold market.