Asia Pacific Hot Runner Temperature Controller Market

Market Introduction

The Asia Pacific hot runner temperature controller market is expected grow at a significant CAGR during the forecast period. Many countries in the region have become manufacturing hubs with the presence of diverse manufacturing industries. China, India, South Korea, Japan, and Australia are among the key countries in the hot runner temperature controller market in Asia Pacific. The automotive, medical, packaging, and other industries, especially in China, are procuring hot runner temperature controller to generate plastic molds for their products and solutions. China is continuously scaling up the manufacturing of electronics, auto parts, and medical equipment due to a continuous surge in demand for products. This has propelled the demand for hot runner temperature controllers among the OEMs. Furthermore, the region’s boosting economy has raised disposable income of individuals, which results in purchase of high-end products, including smartphones, laptops, wearables, and tablets. China, India, Indonesia, and Japan are emerging markets with a large number of consumer electronics users. This factor also boosts the hot runner temperature controller market in the region. In addition, several industries in the abovementioned countries are also incorporating Industry 4.0 to simplify the production processes and attain higher profits.

Asia Pacific includes most of the world’s highly populated countries, such as China, India, and Japan, which has led to a harsh impact of the COVID-19 pandemic on these countries. Also, the metal injection molding industry across countries such as China and India have witnessed adverse effects of the pandemic, which has been a major factor to lower the adoption of hot runner temperature controller systems across the region. Moreover, the temporary shutdown of industrial facilities has resulted in disruption in production of different industrial products due to reduction in demand. The pandemic has also raised the concerns regarding the shortage of molded plastics for different industries due to a widened demand and supply gap across Asian countries, caused by increased demand for plastics for food packaging, automobile components, and personal protective equipment. The demand for plastic molding has also increased due to adoption of plastics across multiple industries such as automotive, aerospace, medical, packaging, and electrical & electronics which will impact the industrial operations in the near future. This is expected to boost the demand for automation across the molding industry in Asia Pacific, further bolstering the demand for equipment such as hot runner temperature controllers.

Market Overview and Dynamics

The hot runner temperature controller market in Asia Pacific is expected to grow from US$ 36.09 million in 2021 to US$ 64.39 million by 2028; it is estimated to grow at a CAGR of 8.6% from 2021 to 2028. Plastic is transformed from a raw material to a proper form using hot runner controllers. Demand for hot runner temperature controller systems has increased with surge in the need for molded plastic in the automotive, home appliance, electrical, and electronics industries. Due to the suitability of versatile plastic components in flexible packaging, pipelines, insulation and coatings, and medical devices, customers’ demand for hot runner temperature controller devices is on rise. Furthermore, increased demand from the construction industry due to the widespread use of injection-molded plastics in flooring, roofing, pipelines, walls, insulation, and windows has boosted the demand. Injection molding is one of the most widely used plastics manufacturing processes, as it is capable of providing a realistic solution for the mass production of high-quality injection automobile parts from various polymers. Automotive plastic injection molding is a critical production technique in the automotive sector, where consistency, safety, and quality are crucial. Medical plastic parts are subjected to rigorous quality checks in all the phases, ranging from the prototype phase through high-volume production phase. Disposable packaging, syringes, petri dishes, and test tubes are among the medical products available, as are parts for sensors, diagnostic equipment, and plastic implants. Medical-grade plastics feature a wide range of properties; a majority of these are delicate and can only be manufactured within a narrow processing window. Mold Hotrunner Solutions Inc., for instance, offers high-performance hot runner systems named Rheo-Pro for producing medical parts. Thus, the use of hot runners significantly reduces production costs by eliminating the requirement of cold runners, and related part handling and regrind materials.  Furthermore, plastic injection-molded parts are subject to stringent regulations in the packaging business. Thin-walled, lightweight molded parts, as well as the maximum manufacturing capacity, are examples of this. MHS offers a variety of plastic injection molding options, including thin-walled containers and closures as well as PET bottle preform molds, for high-volume packaging. Plastics play a significant role in the building industry's evolution; items made from this material are increasingly being used by architects, engineers, and developers due to their material properties, strength, appearance, manufacturability, and durability. MHS provides injection molding solutions for various applications, including flooring systems, roofing, siding, fence, irrigation, plumbing, fittings, fasteners, and machines. Thus, the growing use of molded plastics in automotive, medical devices, construction, and packaging industries is boosting the hot runner temperature controller market growth.

Key Market Segments

In terms of type, the valve gate segment accounted for the largest share of the Asia Pacific hot runner temperature controller market in 2020. In terms of application, the packaging industry segment accounted for the largest share of the Asia Pacific hot runner temperature controller market in 2020. In term of control zone, the 12-48 Zones segment held a larger market share of the hot runner temperature controller market in 2020.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the hot runner temperature controller market in Asia Pacific are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Gammaflux; Husky Injection Molding Systems Ltd.; Meusburger Georg GmbH & Co KG; INGLASS S.P.A.; Hillenbrand, Inc.; GÜNTHER Heisskanaltechnik GmbH; and EWIKON HEIßKANALSYSTEME GMBH among others.

Reasons to buy report

• To understand the Asia Pacific hot runner temperature controller market landscape and identify market segments that are most likely to guarantee a strong return
• Stay ahead of the race by comprehending the ever-changing competitive landscape for Asia Pacific hot runner temperature controller market
• Efficiently plan M&A and partnership deals in Asia Pacific hot runner temperature controller market by identifying market segments with the most promising probable sales
• Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form Asia Pacific hot runner temperature controller market
• Obtain market revenue forecast for market by various segments from 2021-2028 in Asia Pacific region. 

Asia Pacific Hot Runner Temperature Controller Market Segmentation

Asia Pacific Hot Runner Temperature Controller Market – By Type

• Valve Gate
• Open Gate

Asia Pacific Hot Runner Temperature Controller Market – By Application

• Automotive Industry
• Electronic Industry
• Medical Industry
• Packaging Industry
• Others

Asia Pacific Hot Runner Temperature Controller Market – By Control Zone

• Up to 12 Zones
• 12-48 Zones
• 48-72 Zones
• 72-108 Zones
• 108-144 Zones
• 144-180 Zones
• 180-216 Zones
• Above 216 Zones     

Asia Pacific Hot Runner Temperature Controller Market – By Country

• Australia
• China
• India
• Japan
• South Korea
• Rest of APAC

Asia Pacific Hot Runner Temperature Controller Market – Companies Mentioned

• Gammaflux    
• Husky Injection Molding Systems Ltd.                                  
• Meusburger Georg GmbH & Co KG                                        
• INGLASS S.P.A.                                                                                                                             
• Hillenbrand, Inc.
• Mold Hotrunner Solutions Inc.
• GÜNTHER Heisskanaltechnik GmbH                                    
• EWIKON HEIßKANALSYSTEME GMBH                                  

Asia Pacific Hot Runner Temperature Controller Market Strategic Insights

Asia Pacific Hot Runner Temperature Controller Market Segmentation Analysis

Asia Pacific Hot Runner Temperature Controller Market Report Highlights

Asia Pacific Hot Runner Temperature Controller Report Scope

Asia Pacific Hot Runner Temperature Controller Market Country and Regional Insights