Pune, Nov. 13, 2019 (GLOBE NEWSWIRE) -- Barnes Group announced the acquisition of one of the best suppliers of hot runner systems called Gammaflux. The company initiated this acquisition to expand its product portfolio of injection molding. Several manufacturers are planning to join hands with local players to expand their geographical reach and strengthen their market position. Such initiatives are expected to drive the global hot runner systems market. As per the report, the market was valued at USD 2.38 Billion in the year 2018 and is anticipated to be worth USD 4.08 Billion by 2026. Furthermore, the market is expected to exhibit a healthy CAGR of 7.0% between 2019 and 2026.
Fortune Business Insights in a new report, titled “Hot Runners Market Size, Share & Industry Analysis, By Type (Open Gate Hot Runner, Valve Gate Hot Runner), By Industry (Consumer Goods, Medical, Packaging, Automotive, Others) and Regional Forecast, 2019-2026” offers a detailed intelligent study on the overall scenario of the market. It analyzes different components of the market, having a greater influence on it. These components include segmentation, market overview, market chain analysis, competitive landscape, and others. The report further examines the market with the help of several qualitative and quantitative methods. This will further help readers to gain insights into opportunities, strengthens, challenges, and threats prevailing in the market. This report intends to help stakeholders understand the future growth of the market, thereby helping them to take well-versed decisions for their business.
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As per current hot runner technology market trends, the valve gate hot runner segment is expected to lead the market owing to its cost-effectiveness. As per industry, automotive is expected to emerge dominant owing to the rising preference towards lightweight vehicles among consumers worldwide. The hot runner market size is anticipated to increase owing to the rising demand from other industries such as medical, consumer goods, packaging, and others. As per the report, packaging industry exhibited a share of 23.2% in 2018 and is likely to expand in the market in the forecast years.
Affluent E-commerce Industry to Drive Market in Asia Pacific
In 2018, the market in Asia Pacific was worth USD 955.2 Million and is projected to lead the global hot runner market over the projected horizon. Increasing consumption of packaging and sustainable goods, along with the rise in the manufacturing industry, will drive the market in this region. The flourishing e-commerce industry is another factor responsible for the robust growth of the market in Asia Pacific. In 2018, e-commerce sales in this region were valued at USD 649 Billion. In addition to this, the rising adoption of technologically-advanced packaging techniques will further encourage growth in the market. For instance, now packaging is done with the help of radio-frequency identification to track movement and location of inventory. These factors are contributing to the growth of the market. Among countries, China manufacturers the highest number of hot runner system, which as a result, will increase the sales of these runners in the region.
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Apart from Asia Pacific, other regions such as Europe, Asia Pacific, and others are estimated to register considerable growth in the foreseeable future.
Milacron and Barnes Group to Adopt New Hot Runner Technologies to Meet the Rising Demand
The report offers a detailed overview of some of the key players operating in the market. These players are continuously putting efforts to adopt new strategies in order to maintain their global presence. Several companies are planning to focus on supply procurement with an aim to minimize the overall cost of the product without compromising on efficiency and quality. Furthermore, companies such as Barnes Group and Milacron are adopting new hot runner technologies to fulfil the increasing requirements and meet new demands.
List of Key Companies Profiled in the Hot Runner Market Research Report are:
- Milacron
- Barnes Group
- Husky Injection Molding Systems Ltd
- Incoe
- Seiki Corporation
- Gunther
- EWIKON
- Inglass S.p.A.
- Synventive
- THERMOPLAY S.p.A
Among these companies, Milacron announced the launch of upgraded and new molding solutions. One of them being Fusion-series G2 hot runner, which focusses on producing medium and large parts with high quality. These parts are primarily ideal for logistic, automotive, and other applications.
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Table of Contents
- Introduction
- Definition, By Segment
- Research Approach
- Sources
- Executive Summary
- Market Dynamics
- Drivers, Restraints and Opportunities
- Emerging Trends
- Key Insights
- Macro and Micro Economic Indicators
- Key Technological Developments
- Consolidated SWOT Analysis of Key Players
- Global Hot Runners Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Sizing Estimations and Forecasts – By Type (Value)
- Open Gate Hot Runners
- Valve Gate Hot Runners
- Market Sizing Estimations and Forecasts – By Industry (Value)
- Consumer Goods
- Medical
- Packaging
- Automotive
- Others (Transportation, etc.)
- Market Analysis, Insights and Forecast – By Region (Value)
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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