The Latin American injection molding machines market is estimated to witness a healthy growth, at an estimated CAGR of over 4%, over the forecast period. Major factors driving the market’s growth include the increasing demand from the packaging industries. However, high initial costs and economic crisis in Latin America are expected to hinder the growth of the market studied.
- Technological advancements in the injection molding machine are expected to offer various growth opportunities to the Latin American injection molding machine market
- By machine type, the hydraulic injection molding machine is expected to account for the largest share of about 60% of the overall value of the Latin American injection molding machine market.
Key Market Trends
High Demand from the Packaging Industry
- All of the packaging products used in day-to-day life, such as mobile phone, lunch boxes, mouse housing, bottle caps, etc., are produced using an injection molding process.
- In packaging, the most required properties are functionality, material savings, convenience, and best technical properties. Injection molding technologies are used to meet these properties.
- The Brazilian packaging industry witnessed moderate growth, owing to the sale of packaged foods, beverages, beauty and personal care, and home care products.
- Additionally, the retail e-commerce business has been witnessing rapid growth. This is augmenting the demand for packaging materials.
- The Mexican packaging industry is dynamic. The industry offers a wide range of opportunities. However, the market is witnessing new opportunities in the pharmaceutical, cosmetics, and personal care industries.
- Many multinational packaging companies have successfully entered the Mexican market. Increasing demand from the consumer goods sector enabled manufacturers of packaging materials to expand in the Mexican market.
- Thus, the packaging industry’s growth is likely to boost the demand for injection molding machines in Latin America, during the forecast period.
Brazil to Dominate the Market
- Brazil is playing a leading role in the plastic industry and serves as an important bridge between South America and other regions of the world, such as North America, Central America, Europe, and Asia.
- Events, like the International Plastic Trade Fair (FEIPLASTIC) and Plástico Brasil, highlight the importance of Brazil, as a gateway to the South American market.
- Plastico Brasil (International Plastic and Rubber Exhibitions) confirmed its position as the largest exhibition in Latin America, with a large volume of business deals and leading technologies.
- In Brazil, economical hydraulic injection molding machines for technical injection molding are as much in demand as efficient automation and high-speed machines for the packaging industry and medical technologies.
- In addition to the sophisticated applications that require tailor-made injection molding solutions, there is a strong demand in Brazil for injection molding machines that handle standard applications.
- All the aforementioned factors are expected to increase the demand for injection molding machines in the region during the forecast period.
The Latin American injection molding machines market is consolidated. The market studied is mainly dominated by HAITIAN INTERNATIONAL. Furthermore, other major market players include Arburg GmbH & Co. Kg, KraussMaffei, and INDÚSTRIAS ROMI S.A., among others.
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