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Jacob Williams
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Jacob Williams   My Press Releases

The Growth of Injection Molding is Creating a New Asian Market

Published on 1/24/2019
For additional information  Click Here

Global plastic injection molding industry is growing exponentially. It is expected that the industry will grow substantially in the near future. We spoke to the director of HQ Mould to find out how the market is behaving and how China can bring any notable difference in the industry.

HQ Mould for the last 40 years has been in the forefront of the injection molding industry and we have always tried to give the best technology and better designs according to the end-user requirements and industry needs, he said.

The demand for injection molding is highly prevalent in electronic, consumer goods, packaging industry and automotive industry and goods producers are looking towards Asian market because of low labor cost and tax benefits offered by the government to attract international client.

Automotive and electronic industries are the two major industries that found China suitable, the Asia Pacific contributed 37 percent of the total volume of injection molding components in the year 2016 and it is expected to grow further, he added.

Since injection-molding plastic components are subjected to the various guidelines, it demands high-tech tools and robust technical team to get it perfect. The whole production process can be categorized into various segments that include design, production and quality testing. Each phase must be organized, monitored and defined to get the best components, he said.

The automotive industry is going through a rapid transformation process as the governments have placed stringent laws against use of materials like steel and iron. Now, at this juncture, plastic seems to be the only option and automotive manufacturers are highly keen on improving the efficiency by offering light-weight plastic components and that is where the highly skillful craftsmanship of HQ Mould comes into the scene, he said.

Plastic molding market is highly fragmented. In fact, there is this constant competition between Asian and Latin American countries. And China is trying to beat the completion through economies of scale and manufacturing excellence, it is also about giving a competitive price and having great distribution channels and HQ Mould is leading as far price and distribution channel are concerned.

You cannot ignore Europe because it’s estimated that by the end of 2025, the European plastic industry will be 122 billion dollar industry. The competition is extremely fierce and we need to have excellence through our technological deployment and strategy.

It should be combined effort of the marketing team and technical team to get the best out of the industry and we have been doing well on that front. However, time will tell the rest of the story but at present, we are doing well and will continue to provide the best quality components to the market. He said.

The plastic injection molding market is something that the industry leaders would be looking at in the future and Asian countries must gear up to the challenge and respond adequately. It seems that HQ Mould has already got the foothold and will continue to provide better grade injection molding components to stay out in the market. Perhaps, the rest of the story will unfold how things would be in the future. 



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