The latest report by IMARC Group, titled “Hot Runner Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, offers a comprehensive analysis of the industry, which comprises insights on the global hot runner market share. The global hot runner market size reached US$ 3.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 5.5 Billion by 2028, exhibiting a growth rate (CAGR) of 6.8% during 2023-2028.
A hot runner is a specialized device used in industrial settings to transfer molten plastic into mold tool cavities for producing plastic products. It comprises various components, including nozzles, manifold plates, flow control systems, and hot valves. The manifold system heats the plates, ensuring the plastic remains molten until it flows into the mold cavity. It is commonly available in two variants, including valve gate and open gate. It prevents plastic from solidifying, reducing cycle time, plastic waste generation, and the amount of trimming required to achieve a smooth final product compared to traditional cold runner systems. As a result, the hot runner finds extensive applications in the automotive, construction, electronics, medical, and packaging industries across the globe. High Speed Injection Molding
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Hot Runner Market Trends and Drivers:
The global hot runner market is primarily driven by increasing demand for injection-molded plastic products in the automotive and healthcare sectors. Moreover, the rising use of injection-molded exterior, interior, lighting, and under-hood components in the automotive industry to build lightweight vehicles with lower carbon emissions and improved energy efficiency is positively influencing the market growth. Additionally, numerous technological advancements, including the integration of connected devices with the internet of things (IoT) and smart sensors that allow real-time collection and analysis of data related to the plastic molding process while reducing the risk of manufacturing defects and errors, are propelling the market growth. Other factors, including the emergence of Industry 4.0, favorable government policies that encourage the use of lightweight plastic molding systems, and rapid industrialization, are also anticipated to drive the market further.
The report has segmented the market into the following categories:
Breakup by End Use Industry:
Competitive Landscape with Key Player:
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