Yet, behind the scenes, the advancement of manufacturing processes, notably plastic injection moulding and rubber moulding, plays an equally critical role in bringing these innovations to life. With their evolution, these moulding technologies have not just boosted production efficiency but have also facilitated the creation of intricate designs and durable products, remarkably simplifying everyday life.
It’s imperative to recognise that the growth and advancement of other industries are intricately linked to the progress made within the mould industry. Projections indicate substantial growth prospects for both the plastic injection moulding and rubber moulding markets. The plastic injection moulding market, valued at USD $ 175.02 billion in 2021, is anticipated to experience significant expansion, potentially exceeding USD $ 266.1 billion by 2030, with a notable Compound Annual Growth Rate (CAGR) of 4.8 percent from 2021 to 2030. Similarly, the rubber moulding market is forecast to witness remarkable growth, with projections suggesting its value could rise to US $ 54.2 billion by 2024 and soar to US$ 109.3 billion by 2034, driven by a robust CAGR of 7.3 percent during the forecast period. As plastic injection moulding and rubber moulding continue to innovate and broaden their capabilities, they serve as catalysts for advancements across various sectors, fostering innovation, driving economic growth, and contributing to societal progress.
What exactly is Moulding?
This story is from the Efficient Manufacturing - April 2024 Issue edition of EM - Efficient Manufacturing.
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This story is from the Efficient Manufacturing - April 2024 Issue edition of EM - Efficient Manufacturing.
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