#Injection Molded Plastics Market Size

[researchrealmblog]

Injection Molded Plastics Market Is on Track To Hitting USD 409.2 Billion by 2030

The word "injection molding" covers a wide range of processes, including the molding of metals, ceramics, polymers, and several other substances. Plastics and injection molding are frequently used together. Plastics can also be formed using a variety of different methods, such as extrusion and blow molding. But the most used method of forming plastics worldwide is injection molding.

It is predicted that the need for injection molded plastics would be driven by the rising demand for plastic components from a variety of end-use sectors, including consumer goods and electronics, packaging, and automotive and medical devices.

In addition, injection molding developments are also being focused on by businesses to reduce the rate of defective manufacturing, which has had a substantial effect on the demand for injection-molded plastic components globally. Thus, the injection molded plastics market is set to reach USD 409.2 billion by 2030, according to P&S Intelligence.

Application in Packaging Contributes Majority of Revenue

With a market share of 30% across all applications, packaging will continue to rule the market; as a result, the expansion of the packaging industry will be a major market driver.

The gradual transition away from glass and metals in the consumer packaging market in favor of polymers is driven by the latter's reduced space need, decreasing weight, durability, adaptability, and cost-effectiveness.

Moreover, polypropylene holds the majority of the market share, at about 40%, as a result of its lightweight properties, moisture resistance, shock resistance, cheap cost, high molding capacity, and outstanding compatibility with food applications, particularly in terms of package safety.

Furthermore, it may be used in injection molding to create components and goods of all different sizes and forms. Due to its semi-crystalline structure and strong flexural strength, polypropylene also has this property.

Demand for Polymers Is Growing in Automotive Applications

One of the end markets for injection-molded plastics with the quickest growth is the automobile sector. The need for such materials would be boosted throughout the projected period by the expansion of the Asian automotive market, notably in China and India.

Thermoplastic elastomers and other injection-molded polymers are discovering new uses in the vehicle sector because of technological advancements in the production of automotive components. The majority of car parts up until recently were composed of steel. To lighten the total weight of cars, plastic is now quickly replacing steel.

In addition, as automotive manufacturing methods continue to advance, high-performance materials—such as thermoplastic elastomers, which combine the properties of rubber and plastic while also being lighter than steel and other polymeric materials—are replacing traditional polymers in an expanding number of applications.

APAC Is a Major Consumer of Injection Molded Plastics

With a 40% revenue share, APAC now holds the top spot in the market for polymers used in injection molding and will continue to do so until the year 2030. Demand for injection-molded plastics is anticipated to rise in the Asia-Pacific area as a result of rising infrastructure investment and rising vehicle sales in Indonesia, India, China, and Malaysia.

Due to its low cost of producing a variety of goods, China has the greatest revenue in the area, which will increase at a CAGR of over 5%. The important drivers driving the market's growth are China's vast population and its quick urbanization.

Source: P&S Intelligence

[medicaldevicesindustrynews]

Injection Molded Plastics Market Is Led by Polypropylene

The word “injection molding” covers a wide range of processes, including the molding of metals, ceramics, polymers, and several other substances. Plastics and injection molding are frequently used together. Plastics can also be formed using a variety of different methods, such as extrusion and blow molding. But the most used method of forming plastics worldwide is injection molding. It is…

[research-89]

https://cynochat.com/read-blog/185825_plastic-injection-molding-for-medical-device-market-size-analysis-and-forecast-2.html

[coldpenguintaco]

The Growing Role of Automotive Plastics in Vehicle Design and Manufacturing

Automotive plastics are materials used for the construction of parts and components in automobiles, including the body, interior, and powertrain. These plastics are designed to be lightweight, durable, and cost-effective. Common types of automotive plastics include polypropylene, polyurethane, ABS, and polycarbonate. Automotive plastics are used in many areas of the vehicle, including interior…

[june-gdprototyping]

What Industries Is Injection Molding(Moulding) Applicable To?

Injection moulding is a common manufacturing process by injecting molten plastic material into a mould so that it can be formed into the desired product shape upon cooling.

Injection moulding process has the advantages of low cost, high production efficiency and stable product quality to make it widely used in various industries. In this vast injection moulding market, there are three industries are particularly eye-catching, which are extensively used for production and manufacturing due to their specific needs and product characteristics.

1.Household Appliance Manufacturing Industry

As an indispensable part of people's daily life, the market demand for household appliances is stable and continuously growing. The injection moulding process plays a pivotal role in the manufacturing of household appliances, from the outer shell to the internal components, injection moulding technology provides key support. Most of the exterior and structural components of home appliances, such as TV remote controls, refrigerators, TV sets, air-conditioning panels, and washing machine shells, are manufactured by injection molding process.

2.Automotive Components Industry & Transportation Sector

With the booming development of the automotive industry, the auto components and parts market has ushered in unprecedented development opportunities. Components and parts such as automotive dashboards, door interior panels, bumpers, and lamp housings as well as a wide range of pipework and connections are made through the injection moulding process. These parts require not only high precision and good mechanical properties, but also need to meet the strict appearance requirements, which injection moulding process is precisely by virtue of its unique advantages, in this field to occupy a place. In addition, with the rise of new energy vehicles, injection moulded parts play an important role in the manufacturing of key components such as battery packs and motor housings.

3.Medical Device Industry

With the increasing emphasis on health, the market demand for medical devices continues to grow. In medical device manufacturing, the injection moulding process is used to produce disposable medical devices such as syringes, infusion tubes and surgical instruments. These products require strict quality control and hygiene standards, and injection moulding process ensures product safety and effectiveness.

In addition, the injection moulding process is also widely used in the electrical and electronic industry, consumer electronics, packaging industry, toy manufacturing, construction materials, industrial parts, furniture and household furnishings and agriculture, among many others.

4.Electrical & Electronic Industry

In the manufacturing process of electronic products, many components such as housings, cases, sockets, connectors, cables, switches and holders for electronic circuit boards need to be manufactured by injection moulding process. Injection moulding process can achieve precise control of product appearance, size and structure, to meet the requirements of electronic products for appearance quality, functionality and reliability.

5.Consumer Electronics Industry

In the electronics industry, injection moulded parts are equally widely used. From mobile phone housings, computer components including keyboards and mice to remote controls and battery cases, the injection moulding process offers a wide variety of appearance and structure options for electronic products. These components not only need to have good mechanical properties and appearance, but also need to have excellent electrical insulation properties to ensure the stable operation of electronic products. Injection moulding technology occupies an important position in the manufacture of electronic products due to its advantages of high precision and low cost.

6.Construction Sector

In the construction field, injection moulded parts also have a wide range of applications, the drainage systems, door and window frames, pvc pipes, valves, wire troughs, insulation materials and other construction materials and accessories are mostly manufactured by injection moulding process. These components are not only high-strength and corrosion-resistant, but also weather-resistant and easy to install, meeting the construction industry's requirements for material performance and ease of use and improve construction efficiency and aesthetics. The application of injection moulding technology in the construction field not only improves the performance and quality of construction materials, but also promotes the sustainable development of the construction industry.

7.Packaging Industry

The packaging and container industry is also one of the key application areas for injection moulding processes. Plastic bottles, food boxes, cosmetic bottles, plastic bags and other packaging containers are mostly manufactured by injection moulding process to meet food safety and aesthetic requirements. These containers need to be well-sealed, drop-resistant, retain freshness and recyclable to ensure that the products are safe and environmentally friendly. Injection moulding processes can offer flexible design and manufacturing options to adapt to different packaging needs and provide strong support for the development of the packaging industry.

These areas above are just a few examples of the application areas of the injection moulding process. In the toy industry, injection moulded parts are used to manufacture a variety of plastic toys; In the textile and clothing industry, injection moulded parts are used to manufacture accessories such as zips and buttons; In the agricultural sector, injection moulded parts are used to manufacture agricultural tools and equipment such as sprayers and watering cans; Even in the aerospace sector, injection moulded parts are also used to manufacture parts for aircraft and spacecraft. It can be said that injection moulded parts have penetrated into almost every corner of our life.

In summary, injection moulded parts play an important role in several industries by virtue of their high precision, low cost and wide applicability. The application of injection moulding process in these areas not only improves production efficiency, but also meets the needs of product diversification and individualisation. With the continuous progress of science and technology and the continuous improvement of people's requirements on product quality, injection moulding technology will continue to be widely used and developed in various fields.

[viratsteelspecial-blog]

Are you looking for DIN 2738 ( P20 + Ni) Steels in India ? Have you understand the advantages of using DIN 2738 Steel (P20 +Ni)?

Virat Special Steels announced as the largest stockiest of DIN 2738 ( P20 + Ni) which is supposed to be an upgraded version of the plastic mold steel 2311. Just like plastic mold steel 2311, DIN 2738 is also supplied in a pre hardened condition. The most specific use of DIN 2738 is that for the purpose of making plastic injection die molds.

Besides the fact that DIN 2738 is supplied in pre hardened condition, some of the other important characteristics of this steel are s follows:

In the state, when the same is supplied to the customers, the level of hardness of the steel is at 280-320 HB. The nickel content in the steel increases by 0.8% – 1.5% on further hardening.

This steel is micro alloyed. The best characteristic of this steel, which makes it perfect for the making of plastic injection die molds, is the fact that it is very good in machining. As a result of this, it becomes absolutely suitable for various purposes like Texturing, polishing of the outsides of various products, provides excellent corrosion resistance to the products, etc.

Other than the making of plastic injection die molds, there are many other applications of this steel. Some of those applications have been discussed below:

This steel can be used for making dies for many different industries like the automotive industry, domestic goods industry, etc.

Plastic molds of various sizes, big as well as small, can be easily made from the use of DIN 1.2738 (AISI P20).

It is useful in the manufacturing of numerous dies and products like high finishing plastic die, Boaster plates used in presses, shoe / Sow blocks and die hammers, which are used for the making of drop hammers, press cassetes, forging dies, Upsetter blockers, and various other dies and molds made for different plastic products.

This steel has a very high demand in the market for the simple reason that this modern and upgraded version of plastic mold steel 2311, offers increased alloy element, which not only increases its hardness, but it also provides extra life. Thus, the parts manufactured through the use of this steel last for a much longer duration.

At the same time, the quality of polishing that is done on this steel is also very good. The hardness present in the steel is also uniform throughout the product. Almost all Leading steel company like Virat Special Steels is Stocking and supplying this product and the demand for the same is increasing on a constant basis.

Virat Special Steels is the largest stockist and supplier of P20 + Ni and P20 tool steel in flat, square and round bars. We provide steel in all sizes as your requirements. P20 Steels is available in flat, square and round shape.

Consult our team who will assist you for the PlasticMouldSteels query.

Learn more : https://www.viratsteels.com/plastic-mould-steel.html

Any queries feel free to contact us : info@viratsteels.com or on mobile number +91-9814021775

[industrynewsupdates]

Medical Component Manufacturing Market Key Players, Revenue And Growth Rate

The global medical component manufacturing market size is expected to reach USD 15.93 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 4.4% from 2021 to 2030. The rising demand for 3D printed parts in the medical industry is projected to contribute to market growth.

Penetration is the adoption of medical component manufacturing in various applications in the market. The penetration of medical component manufacturing is likely to be the highest in the 3D printing segment. The benefits of 3D printing such as improved productivity, cost-effectiveness, personalization, and customization of medical products, applications in complex operations, and rapid medical prototyping are projected to benefit the growth of the 3D printing market.

The plastic injection molding process segment accounted for the largest revenue share of over 65.0% in 2020. The segment is projected to grow due to the development of efficient products using better-engineered resins. Moreover, the process can help component manufacturers produce cost-effective products in various sizes and shapes. Some of the low-cost products include disposable gloves, syringes, plastic instruments, and different one-time products for healthcare facilities.

The rising geriatric population is projected to remain an indirect contributor to market growth. There has been a change in the pattern of the aging population across the globe in the recent past owing to the decreasing levels of fertility and rising life expectancy. This has led to a longer lifespan of people, wherein the share of old people or geriatric population is growing at a rapid pace. As per the United Nations, there are over 727 million people globally who are aged 65 or above as of 2020.

Gather more insights about the market drivers, restrains and growth of the Medical Component Manufacturing Market

Medical Component Manufacturing Market Report Highlights

• The 3D printing process segment is anticipated to register the fastest CAGR of 20.8% from 2021 to 2030. Suitability to produce complex and customized products, along with cost efficiency in low volume production, is projected to drive the segment over the forecast period

• The plastic injection molding process segment held the largest revenue share of over 65.0% in 2020. Advantages such as durability, strength, ease of handling, and improved sterilization make the process comply with stringent regulations set by different government bodies

• North America accounted for the largest revenue share of over 40.0% in 2020. The Increasing geriatric population, along with a rise in lifestyle diseases, is projected to benefit the growth of the medical device industry in the region, thus benefiting the demand for various medical components

• Leading companies in the industry are focused on the development of advanced processes such as 3D printing and are likely to increase their R&D expenditure over the coming years. The merger & acquisition activities are anticipated to rise over the coming years as companies are focused on improving their market share

Medical Component Manufacturing Market Segmentation

Grand View Research has segmented the global medical component manufacturing market on the basis of process and region:

Medical Component Manufacturing Process Outlook (Revenue, USD Billion, 2017 - 2030)

• Forging

• Metal Injection Molding

• 3D Printing

• Ceramic Injection Molding

• Investment Casting

• Plastic Injection Molding

Medical Component Manufacturing Regional Outlook (Revenue, USD Billion, 2017 - 2030)

• North America

o U.S.

• Europe

o Germany

o France

o U.K.

o Spain

• Asia Pacific

o China

o India

o Japan

Order a free sample PDF of the Medical Component Manufacturing Market Intelligence Study, published by Grand View Research.

[keanchee]

Custom Plastic Pallets: The Competitive Edge of Malaysian Manufacturers

In the fast-paced world of global logistics and supply chain management, businesses are constantly seeking innovative solutions to enhance efficiency and reduce costs. Custom plastic pallets, known for their durability, adaptability, and sustainability, have emerged as a game-changer. Malaysia, with its growing manufacturing capabilities and strategic location, is becoming a hub for producing these high-quality pallets. But what sets Malaysian manufacturers apart in this competitive industry?

The Growing Demand for Plastic Pallets

The shift from traditional wooden pallets to plastic alternatives has been driven by several factors. Plastic pallets offer superior durability, are resistant to moisture, pests, and chemicals, and are lighter in weight, making them ideal for international shipping. Furthermore, their ability to be customized to specific dimensions and load requirements gives businesses greater flexibility in their operations.

As industries like automotive, pharmaceuticals, food and beverage, and e-commerce expand, the demand for custom plastic pallets is skyrocketing. These sectors require pallets tailored to meet stringent hygiene, safety, and logistical standards, making customization a necessity rather than a luxury.

Why Malaysian Manufacturers Stand Out

Malaysia has become a prominent player in the global plastic pallet manufacturing scene for several compelling reasons:

Strategic Location: Positioned at the heart of Southeast Asia, Malaysia offers excellent connectivity to major global markets. This strategic advantage reduces shipping times and costs, making Malaysian-made plastic pallets an attractive option for international businesses.

Advanced Manufacturing Capabilities: Malaysian manufacturers have heavily invested in cutting-edge technology, including injection molding and thermoforming processes. These advanced techniques enable the production of high-quality pallets with precision and consistency.

Customization Expertise: The ability to provide tailored solutions is a hallmark of Malaysian plastic pallet manufacturers. Whether it’s specific size requirements, weight capacities, or unique design features, these manufacturers excel at delivering products that align with their clients' exact needs.

Focus on Sustainability: With growing concerns about environmental impact, Malaysian manufacturers are leading the charge in creating eco-friendly solutions. Many companies use recycled materials in their production processes and offer recyclable plastic pallets, aligning with global sustainability goals.

Cost-Effectiveness: Despite their high quality and customization capabilities, Malaysian plastic pallets remain competitively priced. Lower operational and labor costs contribute to this affordability, allowing businesses to achieve excellent value without compromising on quality.

Key Advantages of Custom Plastic Pallets

Custom plastic pallets offer numerous benefits that cater to diverse industries. These advantages underscore why businesses are increasingly turning to Malaysian manufacturers for their pallet needs:

Enhanced Durability: Unlike wooden pallets, plastic pallets are resistant to wear and tear, ensuring a longer lifespan. This reduces replacement costs and enhances overall operational efficiency.

Hygiene Compliance: Plastic pallets are non-porous and easy to clean, making them ideal for industries with strict hygiene requirements, such as pharmaceuticals and food processing.

Lightweight and Stackable: Their lightweight design reduces shipping costs, while their stackable nature optimizes storage space.

Custom Features: Businesses can request specific features like anti-slip surfaces, RFID tags for tracking, or reinforced structures for heavy loads.

Sustainability: Many custom plastic pallets are designed to be reusable and recyclable, contributing to a circular economy and reducing environmental waste.

Malaysian Manufacturers Leading the Way

Several leading manufacturers in Malaysia are setting benchmarks in the industry. Companies such as Midpack Industries and other renowned brands are consistently pushing the boundaries of innovation. They not only produce standard pallets but also work closely with clients to develop bespoke solutions that address unique challenges.

For example, in the e-commerce sector, Malaysian manufacturers have developed pallets equipped with RFID technology for real-time inventory tracking. Similarly, for the automotive industry, they’ve created heavy-duty pallets capable of withstanding immense weight while ensuring safety and efficiency.

Overcoming Challenges

Despite their many strengths, Malaysian plastic pallet manufacturers face challenges, including fluctuating raw material costs and increasing competition from neighboring countries. However, their focus on innovation, quality, and customer-centric solutions continues to give them a competitive edge.

Additionally, government support through incentives for sustainable manufacturing and trade agreements has bolstered the industry’s growth. Initiatives like these ensure that Malaysian manufacturers remain resilient and forward-thinking in the face of global challenges.

The Future of Custom Plastic Pallets in Malaysia

As global trade continues to expand, the demand for efficient and sustainable logistics solutions will only grow. Malaysian manufacturers are well-positioned to capitalize on this trend. By embracing advancements in automation, digitalization, and sustainable practices, they can further solidify their position as leaders in the plastic pallet industry.

Moreover, with an increasing emphasis on environmental responsibility, manufacturers are likely to invest even more in producing recyclable and biodegradable pallet options. Such innovations will not only cater to evolving consumer preferences but also set new standards in the industry.

Conclusion

Custom plastic pallets are revolutionizing the logistics landscape, offering unparalleled advantages in terms of durability, hygiene, and sustainability. Malaysian manufacturers, with their strategic advantages and commitment to excellence, are at the forefront of this transformation. By continuously innovating and addressing the unique needs of diverse industries, they provide businesses with a competitive edge in the global market.

Whether it’s reducing operational costs, enhancing supply chain efficiency, or contributing to environmental sustainability, Malaysian-made custom plastic pallets are proving to be an indispensable asset for businesses worldwide. The future holds immense potential for this thriving industry, cementing Malaysia’s reputation as a trusted leader in custom plastic pallet manufacturing.

[marketsndata]

Japan Thermoset Plastics Market Analysis 2032

Japan thermoset plastics market is expected to observe a CAGR of 5.38% during the forecast period FY2025-FY2032, rising from USD 5,107.88 million in FY2023 to USD 8,204.15 million in FY2032F. The growth of the market can be attributed to the quick development of the utilization of engineering plastics.

By FY2032, the thermoset plastics market in Japan is anticipated to grow due to the application of thermoset plastics market in Japan, driven by the nation’s ongoing development of its bio-based phenolic resins utilizing lignin and the quick development of integrated molding technology for carbon fiber-reinforced plastic. Therefore, it’s predicted that these developments would raise the need for thermoset polymers in several industries including steel, fertilizers, and the automobile industry.

Due to Japan’s stringent waste management and recycling laws, recycling technology and sustainable thermoset polymers are developing. NIPPON STEEL Chemical & Material Co., Ltd. supplies thermoset resin materials to enhance the durability and corrosion resistance of coatings applied to industrial facilities, bridges, and pipelines. This helps increase the demand for thermoset plastics.

For instance, Mitsui Chemicals Inc. and Microwave Chemical Co., Ltd. are developing chemical recycling technology using microwaves. Microwaves, used as household ovens and telecommunications, can directly and selectively transfer energy to materials, making conventional chemical processes more energy efficient. Environmentally friendly technology can reduce CO2 emissions and generate energy from renewable sources.

Saturated polyester resins, epoxy resins, and polyurethane foam manufacturing have increased significantly in the market, indicating a persistent need for these materials. Recent business changes that may affect the direction of thermoset plastic market in the future include advancements in manufacturing technology and the emergence of eco-friendly alternatives.

For instance, Daicel Corporation, specialist in innovative thermoset plastics solutions, is serving several industries including automotive, electronics, construction, and healthcare. Automotive parts, electrical components, building materials, and medical devices employ phenolic resins, epoxy resins, and polyurethane systems. Due to its concentration on these areas, Daicel is a reliable partner for companies looking for high-performance thermoset plastics solutions. It helps to propel innovation and sustainable growth in Japan’s industrial sector.

Thermoset Plastics Revolutionize Vehicle Lightweighting in EVs

Advance development in lightweight electric vehicles (EVs) has surged Japan’s thermoset plastic market. Players in Japan’s thermoset market are collaborating to develop advanced thermoset resin molding, while companies such as Nissei Plastic aim to optimize the injection pressure, which can help manufacturers create parts with tighter tolerances and improved quality. Overall, Japan’s automotive sector shows a bigger trend towards lightweight vehicles and sustainability, which can significantly impact the EV manufacturing while increasing the demand for thermoset plastics.

For instance, Celanese Corporation has launched two new polyamide solutions for electric vehicle powertrain components and battery applications. The Frianyl PA W-series flame-retardant polyamide solutions enable the production of large, thick-walled components for EV batteries. These solutions improve safety, design, and manufacturing efficiency. Applications include battery module housings and electronic box housings. The Frianyl PA W Series solutions have an excellent relative tracking index even after 1,000 hours of aging at 125 degrees Celsius. They offer remarkable long-term color stability, without visible changes to the naked eye or color laboratory measurements.

Wind Energy Industry Fuels Japan Thermoset Plastics Market Size

Wind energy generation promotes sustainability and economic progress by accelerating income creation through sophisticated recycling techniques in the thermoset plastics market. For instance, according to the Japan Wind Power Association (JWPA), by the end of FY2023, Japan’s total installed wind power capacity reached 5,213.4 MW. Due to breakthrough methods in small-molecule assistance, it is now possible to recycle wind turbine blades with up to 100% resin degradation yield for waste composite materials. Furthermore, as Japan and other countries increase their investments in wind power, using carbon fiber composites may generate economic growth while supporting sustainability in the market.

Increasing Utilization of Epoxy in Thermoset Plastics Dominates Japan Thermoset Plastics Market

Epoxy resins are essential thermoset polymers with unique characteristics and can be used in a wide temperature range. Epoxy has the highest contribution in Japan thermoset plastics market due to increasing use of epoxy in electrical components, paintbrush manufacturing, adhesives for structural usage, metal coatings, and high-tension electrical insulators increasing the demand of epoxy in thermoset plastics market in Japan. For instance, DIC’s epoxy resin curing agent, which can withstand temperatures up to 200 degrees Celsius and is recyclable, makes it easier to remold thermoset plastics, which were previously difficult to recycle.

Adoption of Injection Molding Technology in Japan Thermoset Plastics

As per the processing type, injection molding holds dominant market share due to its increasing usage in thermoset plastics leading to chemical crosslinking and hardening of polymer. Thermoset injection molding equipment generally includes a hydraulically driven clamping device for mold closure and an injection device for conveying materials, producing thermoset plastics used in the automobile industry and medical devices. Injection moldings offer advantages such as high production efficiency, intricate design capabilities, and consistent quality, making it a favored option among manufacturers for a wide range of applications.

South Japan Become the Highest Contributor in the Market

In 2024, the southern region of Japan has the highest share in Japan thermoset plastics market, followed by the north region. Japan’s regions are expected to experience a rise in power generation sector which will fuel the advancement of thermoset plastics. Thermoset plastics are successively employed in numerous applications, significantly contributing to the efficiency and reliability of power generation processes. For instance, NIPPON STEEL Chemical & Material Co., Ltd operates manufacturing plants across Japan, including Tokyo, Osaka, and Nagoya. The company continuously develops advanced technology and production capabilities to meet the demand for thermoset plastics.

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Future Market Scenario (FY2025 – FY2032F)

As per Japan thermoset plastic market analysis, the demand for thermoset plastics will significantly increase over the forecast period, owing to rising demand from key End-use industries, including transportation, automotive, marine, aviation, power generation, oil, refinery, and others. Thermoset materials play a crucial role in the rising research and development activities for construction of wind turbine blades, solar panels, and other renewable energy infrastructure. For instance, the expansion of wind power generation capacities has expanded from 6.5 GW in FY2018 to 8.2 GW in FY2021 and solar power capacity has increased from 15.9 GW in FY2018 to 27.9 GW in FY2021. Additionally, thermoset plastics are heavily utilized for tanks, corrosion-resistant pipes, and insulation materials in the oil and refinery industries. As Japan continues to invest in infrastructure development and modernization of its oil and refinery facilities the demand for thermoset materials is expected to rise. Also, thermoset polymers are preferred within the maritime and aviation sectors because of their high strength-to-weight ratio and resistance to corrosion. Japan is predicted to become a maritime and aerospace-focused nation, which will increase demand for thermoset composites in shipbuilding, aircraft interiors, and structural components.

For instance, Daicel Corporation and Polyplastics Co., Ltd. partnered together to innovative thermoset plastic products with improved mechanical strength, flame retardancy, and heat resistance. The collaboration helps strengthen the companies’ competitive positions and differentiation in thermoset plastics market through technological leadership and product innovation, which will enhance their competitive standing in the thermoset plastics industry by means of technological leadership and product innovation.

Similarly, Microwave Chemical Co., Ltd. and Mitsui Chemicals Inc. are creating chemical recycling technology that can lower CO2 emissions and increase the energy efficiency of existing chemical operations using microwaves. The firm is engaged in the chemical recycling of plastics, including thermosetting sheet molding compound, flexible polyurethane foam, and waste from car shredders. Both businesses want to begin demonstration testing shortly following verification testing at a bench facility since early tests have yielded encouraging findings. The objective is to transform difficult plastic waste streams into premium materials that won’t sacrifice quality and are appropriate for delicate applications.

Report Scope

“Japan Thermoset Plastics Market Assessment, Opportunities and Forecast, FY2018-FY2032F”, is a comprehensive report by Markets and Data, that provides an in-depth analysis and qualitative and quantitative assessment of the current state of Japan thermoset plastics market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, opportunities, and forecast between FY2025 and FY2032. Additionally, the report profiles the leading players in the industry, mentioning their respective market share, business model, competitive intelligence, etc.

Click here for full report- https://www.marketsandata.com/industry-reports/japan-thermoset-plastics-market

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Contact

Mr. Vivek Gupta 5741 Cleveland street, Suite 120, VA beach, VA, USA 23462 Tel: +1 (757) 343–3258 Email: info@marketsandata.com Website: https://www.marketsandata.com

[researchrealmblog]

How Does Research and Development Boost Medical Injection-Molded Plastics Industry?

The medical injection-molded plastics industry has garnered $23,014.7 million revenue in 2021, and it is projected to rise at a rate of 5.7% from 2021 to 2030, to generate $37,899.5 million in 2030. It is ascribed to the rising consumption of plastic in various healthcare applications, including medical devices, mobility aids, and implant packaging.

Moreover, the surging research & development expenditure, and technological advancements in the healthcare sector propels the requirement for medical-grade injection-molded polymers.

Medical components capture the substantial industry revenue, of approx. 25% and it is further projected to follow the same trend from 2021 to 2030. It is attributed to the massive usage of high-grade plastics for medical equipment manufacturing, including catheters, syringes, containers, and medical bags.

Furthermore, the rising requirement for light and durable medical products, easy to sterilize is projected to propel the industry.

Additionally, the implants generate significant industry revenue, and their sales are projected to rise at a faster rate in the near future. It is ascribed to the rising elderly population, and the growing prevalence of dental implants, orthopedic disorders, endovascular disorders, and cardiovascular diseases.

In addition, the technological advancements in medical implants, led by extensive R&D to provide better results of medical procedures, cause industry propulsion.

Furthermore, mobility aids have experienced the highest CAGR, and it is projected to rise at the fastest rate in the future. It is ascribed to the worldwide rising elderly population, various technological advancements, and increasing healthcare expenses in developing countries.

Moreover, the rising usage of mobility aids, such as drinking aids, wheelchairs, and bath chairs, propels the market expansion.

Injection-molded plastics play a greater role in the transformation of the healthcare sector. These materials are used in the manufacturing of blood sample analysis cuvettes, pregnancy test devices, needle housing, and other medical components. It ensures their lightweight, easy sterilization, and higher affordability.

In addition, these polymers can be utilized in the production of disposable plastic syringes, and blood bags, by molding them. These plastics are used to create antibacterial contact interfaces that can kill bacteria and other pathogens, and reduce infection spread.

Moreover, these plastics can be customized to cater to the requirements of specific applications. They hold the potential to adapt to the smallest and most-delicate molds. Plastics are massively used in the production of surgical equipment, and products, including contemporary pacemakers, stents, catheters, and joint replacement systems.

North America holds the largest industry revenue, of over 40%, and it is projected to follow the same trend in the near future. It is ascribed to growing per capita income, surging healthcare costs, and a rising elderly population.

The U.S. captures a substantial share of the region-based industry, ascribed to highly advanced technology, growing demand for implantable devices, rising health awareness, healthcare policies, and government support.

APAC is projected to experience the fastest growth in the coming future, rising at a rate of over 6%. It is led by the growing application of injection-molded plastics in medical implants, components, and mobility aids.

In addition, the increasing consumer awareness of affordable medical products developed by molded products, rising concern on research and development of medical devices, and growing adoption of cutting-edge technologies in healthcare is projected to propel the industry growth.

Therefore, the medical injection molded plastics industry is projected to rise due to the increasing elderly population.

Source: P&S Intelligence

[dongguanjeek]

Learn more about Jeek Precision

Dongguan Jeek Precision Technology Co., Ltd. is a company specializing in precision machining and customization services, committed to providing customers with high-quality, high-precision component solutions. The company is located in Dongguan City, Guangdong Province. With advanced technical equipment and rich industry experience, it has become an important partner in many fields.Jeek Precision provides a variety of customized services such as CNC machining, injection molding, plastic molding, etc., which are widely used in electronics, automobiles, medical, aerospace and other industries.

Core Technology and Services:

CNC Machining (CNC Machining) CNC machining technology is one of the core advantages of Dongguan Jeek Precision. The company has a number of high-precision CNC machine tools from three to five axes, which can process parts with complex shapes and high precision requirements according to customer needs. Whether it is mass production or small batch customization, Jeek Precision can provide high-efficiency and high-precision machining services to meet customers' strict requirements in shape, size and precision. Five-axis machining is particularly suitable for complex parts that require simultaneous processing at multiple angles and directions.

Injection Molding Jeek Precision's injection molding service is suitable for large-scale production of plastic parts. The company has advanced injection molding machines and a professional mold design team, which can provide customers with high-precision and high-stability plastic parts. By continuously optimizing the injection molding process, the company can ensure that the products meet high standards in dimensional accuracy and surface quality to meet the different needs of customers.

Plastic molding (stamping, extrusion, etc.) In addition to CNC machining and injection molding, Jeek Precision also provides plastic molding services for metal and plastic materials. Whether it is stamping, hot stamping, or metal extrusion molding, the company can provide high-precision and efficient production processes, which are suitable for the production of various parts in the electronics, automotive, medical and other industries.

Customized services and engineering support Jeek Precision can not only provide conventional processing services, but also provide customized solutions according to customer needs. From product design, sample production to mass production, the company's team of engineers will participate in the whole process to ensure the smooth progress of each link, and provide necessary technical support and process optimization to help customers gain competitive advantages in the market.

Quality control and certification Quality control is a core competitiveness of Jeek Precision. The company strictly follows international quality standards for production and has advanced testing equipment, such as three-coordinate measuring machines, hardness testers, surface roughness testers, etc., to ensure the accuracy and quality of each batch of products. The company has passed the ISO9001 quality management system certification and provides other industry certifications according to customer needs, such as IATF16949 (automotive industry) and ISO13485 (medical industry).

Post-processing and assembly In order to further improve the quality and function of the products, Jeek Precision also provides a variety of post-processing services, such as surface spraying, electroplating, oxidation treatment, etc., to ensure the corrosion resistance, wear resistance and aesthetics of the products. In addition, the company's assembly team can provide customers with precise component assembly services to ensure the high reliability of the final product.

Application areas: Dongguan Jeek Precision's products are widely used in many industries. The following are some typical application areas:

Electronic industry: Provide precision components such as housings, connectors, circuit board brackets, etc. for electronic products to ensure the stability and functionality of electronic equipment. Automotive industry: Automobile manufacturing provides various precision parts, such as engine parts, body parts, chassis parts, etc., to meet the automotive industry's requirements for high precision and high strength. Medical equipment: The company provides high-precision parts for the medical device industry, including medical instrument housings, precision surgical tools, etc., to ensure that the products meet strict medical standards. Aerospace: Provide high-strength, high-precision parts for the aerospace field to ensure reliability and stability in extreme environments. Consumer goods: The company provides exquisite appearance design and high-functionality parts in the consumer goods industry, such as home appliances, smart hardware, etc., to meet the increasingly diverse market needs. Company advantages: Technological innovation: The company always pays attention to the update and innovation of technology, and continuously introduces advanced equipment and technology to ensure that it can meet the growing needs of customers. Lean production: By optimizing the production process, Jeek Precision has greatly improved production efficiency, reduced costs, and ensured the high quality of each product. Professional team: The company has an experienced and technically competent team of engineers who can provide customers with all-round technical support to ensure the smooth progress of the project. Dongguan Jeek Precision Technology Co., Ltd. has won wide recognition and trust from domestic and foreign customers with its excellent technology, rich industry experience and customer-oriented service concept. The company will continue to use innovation as a driving force to continue to provide customers with high-quality, high-precision products and solutions to help customers succeed in the competition in the global market.

Learn about Geek Precision Click.

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PVC Additives Market-Industry Forecast, 2024–2030

PVC Additives Market overview

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Report Coverage

The report: “PVC Additives Market- Forecast (2024–2030)”, by IndustryARC, covers an in-depth analysis of the following segments of the PVC Additives Industry.

By Type: Stabilizers, Impact Modifiers, Processing Aids, Lubricants, Plasticizers, Fillers, Others.

By Form: Granules, Powder, and Liquid.

By Fabrication Process: Extrusion, Injection Molding, Blow Molding and Others.

By Application: Pipes, Packaging, Furniture’s, Door and Windows, Cables, Medical Devices, Flooring, and Others.

By End Use: Building and Construction, Automotive industry, Textile Industry, Electrical and Electronics, Medical Industry, Food and Beverages, and Others.

By Geography: North America, South America, Europe, APAC, and RoW.

Key Takeaways

Asia Pacific dominates the PVC Additives market owing to rapid increase in building and construction sector.

Certain applications require higher impact strength than PVC would demonstrate normally.

The market drivers and restraints have been assessed to understand their impact over the forecast period.

The report further identifies the key opportunities for growth while also detailing the key challenges and possible threats.

The other key areas of focus include the various applications and end use industry in PVC Additives market and their specific segmented revenue.

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PVC Additives Market Segment Analysis — By Type

Stabilizers held the largest share in the PVC Additives market in 2019. This growth is mainly attributed to the increasing demand for stabilizers in varied applications such as pipes & fittings, rigid & semi-rigid films, and others. Due to their superior properties, such as UV resistance, weathering and heat-aging, stabilizers are increasingly favored over other types of additives. To avoid premature degradation, many polymers are vulnerable to environmental degradation and require the addition of a stabilizer such as an antioxidant or UV absorbent. Hampered phenols and obstructed amine light stabilizers (HALS) deactivate emerging radicals, like air-oxidated peroxy compounds. UV absorbers dissipate UV radiation through the material by a method that is non-destructive. Monomers are added to free radical inhibitors as stabilizers to prevent premature polymerization.

PVC Additives Market Segment Analysis — By Forms

Granules held the largest share in the PVC Additives market in 2019. Granules help to increase the density of the freshly synthesized polymer since it lacks the flowing properties required to be processed by an extruder. Due to their plasticity property, they can be molded or shaped by application of heat. Other characteristics of plastic are its low electrical conductivity, low density, transparency and toughness which allowed it to be used for the creation of different products. In addition, plastic’s versatility has led to its use in a wide array of industries. In order to produce normal and high-strength concretes, 10%, 20%, and 30% replacement ratios by volume of PVC granules and powder are used.

PVC Additives Market Segment Analysis — By Fabrication Process

Extrusion held the largest share in the PVC Additives market in 2019. Extrusion is used mainly for handling large plastic volumes. The pellets, granules, chips, or powders are fed into the extruder and melted under high temperatures. PVC compounding is a process where additives are mixed with the base resin in order to obtain a homogenous mix. The additives are used either to enhance process capabilities or to improve product efficiency. The use of sizing parts will generate any length of profiles to the desired length. Co-extrusion allows the manufacture of semi-finished multi-layer products with special barrier properties.

PVC Additives Market Segment Analysis — By Application

Pipes is projected to witness highest share in PVC Additives market in 2019. This rise is mainly due to the growing demand for pipes & fittings in piping and plumbing, gas pipeline laying, and telecommunication and electrical cable sheathing. Due to the replacement of traditional concrete, iron, and steel-based pipes & fittings with PVC pipes in the building & construction industry, the market for PVC additives in the pipes & fittings segment is expected to witness significant development. The market for building materials is on high demand, with the continually growing population. The prerequisite for housing is pipes and fittings, which are a critical necessity. Urbanization with a large network of connections has contributed to an increase in drainage requirements. There is a growing demand for pipes and fittings to cope with advanced piping links, which in turn drives market growth. Globally, there has been a rising demand for rainwater harvesting system that has helped to heat up the pipe and fit market. In 2019, recently the commercial sector has slowed as the risk for a downturn in global construction increases due to COVID-19 pandemic which led to temporary lockdown of all economic activities across globe.

PVC Additives Market Segment Analysis — By End Use

Building and construction dominates the PVC Additives market growing at a CAGR of 6.00%. With the growing construction industry and its demand for PVC Additives particularly in the regions of Asia-Pacific, North America and Europe, the demand of PVC Additives for all kinds of buildings is expected to see an upsurge. Residential application segment is witnessing growth due to the rising penetration from untapped markets. First-mover advantage in untapped regions and relatively low acquisition costs remain key driving forces in this application market. Furthermore, R&D in PVC Additives will support the growth of the PVC Additives market.

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PVC Additives Market Segment Analysis — Geography

Asia-Pacific (APAC) dominated the PVC Additives market growing at CAGR of 41% followed by North America and Europe. APAC as a whole is set to continue to be one of the largest and fastest growing construction markets globally. Large and more developed markets such China, India, Japan, and South Korea are expected to grow more in the coming years. China is driving much of the PVC Additives market demand in Asia-Pacific region followed by India and Japan. Of the five fastest growing regions in construction sector, other than U.S. all are Asian countries including China and India who majorly drive the demand for construction investment in this regions. The strong and healthy growth in construction sector is associated with growing population and middle class economy, which tend to drive APAC residential construction market further and hence the PVC Additives market. The number of buildings that have illuminated PVC Additives is growing sharply in APAC region. The increasing number of new building constructions, along with the rise in the number of renovation projects has further propelled the market. Currently the construction industry has been affected due to COVID-19 pandemic where most of the industrial activity has been temporarily shut down. In in turn has affected the demand and supply chain as well which has been restricting the growth in year 2020.

PVC Additives Market Drivers

Replacement of conventional material with PVC will drive the market

PVC is replacing traditional building materials such as wood, metal, concrete and clay in many applications. Versatility, cost-effectiveness and excellent use record make it the most important polymer in the construction sector, accounting for 60%. These products are often lighter, less expensive and offer many performance advantages. Making it prominent material than conventional.

Rapid industrialization and infrastructure activity will augment the growth of PVC Additives

Improvement in economic climate along with boom in industrialization and infrastructure activity across the globe is leading the growth of PVC Additives. Oxford Economics has estimated global infrastructure investment needs to be $94 trillion between 2016 and 2040. This is 19 percent higher than would be delivered under current trends. With the increasing rate of industrialization and infrastructure activity, as a result of which PVC Additives growth is augmenting.

PVC Additives Market Challenges

Low R&D expenditure in the emerging markets and high maintenance cost will hamper the market to growth

Innovation is the key to developing new products, but most manufacturers are not investing much into R&D. Rather than cutting-edge technology, they invest in creating relevant technology. These factors are hampering the growth of the market. Because most of the pipes and fittings are located underground in the event of any malfunction or failure, the cost of repairs can be even greater.

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Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the PVC Additives market. In 2019 the PVC Additives market has been consolidated by the top five players accounting for xx% of the share. Major players in the PVC Additives market are BASF SE, Arkema SA, Akzo Nobel N.V, Adeka Corporation, Clariant AG and Others.

Acquisitions/Technology Launches/ Product Launches

In April 2017, Lanxess Corporation has completed acquisition of Chemtura. With this acquisition, Lanxess significantly expands its market position for PVC additives. A notable sampling includes: the sale of its proprietary OBS (organic-based heat stabilizers) for rigid PVC applications to Baerlocher; the sale of the rest of its PVC additives business to Galata Chemicals.

Key Market Players

The Top 5 companies in the PVC Additives Market are:

BASF SE

Arkema SA

Akzo Nobel N.V

Adeka Corporation

Clariant AG

For more Chemicals and Materials Market reports — Please click here

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The Versatility and Importance of Coil Heaters: A Guide to Their Applications and Benefits

Coil heaters are a vital component in various industrial processes, known for their compact design, exceptional heat transfer efficiency, and durability. These heating elements have revolutionized industries ranging from plastics and packaging to medical equipment manufacturing. Their ability to deliver consistent and precise heating makes them a preferred choice for applications demanding accuracy and reliability. As the demand for these heating solutions grows, Coil Heater Manufacturers in India are playing a significant role in meeting global requirements with innovative products and solutions.

What are Coil Heaters?

Coil heaters are high-performance heating elements designed to operate at elevated temperatures while maintaining excellent heat transfer and uniformity. They are usually constructed using nickel-chromium resistance wire encased in a protective sheath, often stainless steel, for durability and resistance to corrosion. These heaters are highly flexible and can be molded into various shapes, such as coils, spirals, or other custom configurations, to fit specific applications.

Applications of Coil Heaters

Coil heaters are indispensable in numerous industries due to their adaptability and efficient performance. Below are some key applications:

Plastic Injection Molding In plastic manufacturing, coil heaters are used to maintain precise temperatures in injection molds, ensuring high-quality outputs. Their uniform heating properties reduce the risk of material defects.

Packaging Industry The packaging industry relies on coil heaters for sealing machines, shrink wrapping, and other heat-based processes. Their reliability and efficiency make them an essential part of high-speed production lines.

Medical Equipment Manufacturing In the medical field, coil heaters are used in applications like sterilization and heating for diagnostic equipment. Their ability to deliver accurate heating ensures safety and precision.

Hot Runner Systems Coil heaters are integral to hot runner systems used in mold-making industries. They provide uniform heat to channels, enhancing the efficiency and quality of molded products.

Food and Beverage Industry In food processing, coil heaters are used in equipment like coffee machines, heating tanks, and pasteurizers. They are valued for their durability and sanitary construction.

Advantages of Coil Heaters

Coil heaters offer numerous advantages that contribute to their widespread use in industrial applications:

High Performance: They can operate at high temperatures with exceptional efficiency and durability.

Customizability: Their flexible design allows manufacturers to create heaters tailored to specific industrial requirements.

Energy Efficiency: Coil heaters deliver precise and consistent heat, reducing energy wastage.

Longevity: With robust construction and corrosion-resistant materials, they ensure a long service life even in harsh environments.

Compact Design: Their small size and flexible configuration make them suitable for applications with space constraints.

The Role of Coil Heater Manufacturers in India

India has emerged as a global hub for manufacturing advanced industrial heating solutions, including coil heaters. Coil Heater Manufacturers in India are recognized for their commitment to quality, innovation, and cost-effectiveness. Leveraging cutting-edge technology and adhering to international quality standards, these manufacturers cater to both domestic and international markets.

Innovation and Customization: Indian manufacturers excel in providing customized solutions that meet the unique needs of various industries. From design to material selection, they ensure heaters are tailored for optimal performance.

Cost-Effective Solutions: By utilizing local resources and expertise, Indian manufacturers offer high-quality coil heaters at competitive prices, making them a preferred choice worldwide.

Export Excellence: With an increasing focus on exports, many Indian companies supply coil heaters to countries across Europe, North America, and Asia, showcasing the nation’s manufacturing prowess.

Choosing the Right Manufacturer

When selecting a coil heater manufacturer, consider the following factors:

Experience: Opt for manufacturers with proven expertise and a track record of delivering reliable products.

Certifications: Look for companies that adhere to international quality standards such as ISO and CE certifications.

Customization: Ensure the manufacturer offers tailor-made solutions for your specific requirements.

Support Services: Reliable customer support and after-sales services are crucial for long-term satisfaction.

Conclusion

Coil heaters have transformed the industrial landscape by offering efficient and versatile heating solutions. As industries continue to evolve, the demand for high-quality coil heaters will only grow. Indian manufacturers, with their innovative approach and dedication to quality, are well-positioned to meet this demand. If you’re in search of top-notch coil heaters, partnering with Coil Heater Manufacturers in India is a strategic choice for reliable and cost-effective heating solutions. Whether for plastic molding, packaging, or medical applications, coil heaters are a cornerstone of modern industry, ensuring precision, efficiency, and durability in every process they support.

[research-fusion]

3D Printing Materials Industry: Global Forecast on Size, Share, and Growth 2024-2032

The global 3D printing materials market size was USD 1.53 billion in 2018 and is projected to reach USD 3.78 billion by 2026, exhibiting a CAGR of 12.1% during the forecast period. The increasing application of 3D printing in various end-user industries such as aerospace, automotive, military, and healthcare will have a positive impact on the 3D printing materials market revenue during the forecast period. Moreover, one of the major 3D printing materials market trends include the increasing knowledge of 3D printing as a faster manufacturing process than conventional manufacturing processes such as injection molding, and subtractive production.

As per the published report by Fortune Business Insights, titled “3D Printing Materials Market Size, Share & Industry Analysis, By Type (Plastics, Metals, Ceramics, and Others), By End-Users (Automotive, Aerospace & Defense, Industrial, Medical, and Others), and Regional Forecast, 2019-2026” the market size stood at USD 1.53 billion in 2018. The 3D printing materials market report focuses and elaborates the definition, types, applications and major players in detail. Deep analysis about 3D printing materials market outlook, competition pattern, enterprise, advantages and disadvantages of enterprise products, industry development trends, regional industrial layout characteristics and macroeconomic policies, industrial policy has also been studied and provided within the synopsis. From raw materials to downstream buyers of this industry has been analyzed scientifically, the feature of product circulation and sales channel is presented as well. This report is aimed at helping companies, investors and potential shareholders along with venture capitalists establish a bird’s eye view prospect of industrial development and characteristics of the market. The report also benefits its readers by providing the unrivalled data in well-organized manner.

The Report Lists the Key Companies in the 3D Printing Materials Market:

Stratasys Ltd.

3D Systems, Inc.

Materialise NV

Markforged, Inc.

EOS GmbH

Höganäs AB

Arkema

Royal DSM N.V.

ExOne

GE Additive

Evonik Industries AG

Höganäs AB

BASF SE

Covestro AG

Market Driver:

Growing Adoption of 3D Printing Technology to Spur Opportunities

The rising shift from conventional printing to 3D printing technology will bolster healthy growth of the market in the foreseeable future. 3D printing offers properties including, reduced waste, complexity in designs, cost-effectiveness, and improved design modification. Moreover, the increasing awareness regarding the proven benefits of 3D printing has attracted manufacturers from various sectors. Food, footwear, music, jewelry, and medical sectors are implementing the technology for the manufacturing and development of new products at lower cost. This, factor uplift the 3D printing materials market share in the forthcoming years. In addition, the growing utilization of 3D printed parts in aerospace, automotive, and military applications will enable speedy growth of the market during the forecast period. Nonetheless, 3D printing enables designers to create complex parts at low cost along with production feasibility. For instance, components created from titanium in aerospace industry are usually 3D printed as it offers high dimensional accuracy, and great mechanical properties.

Get More Information: https://www.fortunebusinessinsights.com/3d-printing-material-market-102296

Regional Analysis:

Booming Aviation Industry to Propel Growth in North America

The market in North America generated a revenue of USD 0.58 billion in 2018 and is predicted to witness high growth during the forecast period owing to the rising demand from aerospace, military, and medical industry. The burgeoning aviation industry will create growth opportunities for the market in the region in the forthcoming years. The growing requirement for aircrafts and stellar demand for metal in the defense will boost the market in North America. Europe is predicted to grow rapidly during the forecast period owing to the increasing adoption of 3D printing technology in healthcare. 3D printing is extensively used to manufacture implants and prosthetics at a very low cost. Thus, the rising demand for 3D printing technology in various sectors will contribute positively to the growth of the market in Europe.

Key Development:

November 2019: The acquisition of Sculpteo by BASF, a German chemical company and the second largest chemical producer in the world. BASF aims to enhance its position in the 3D printing industry and expand its sales channel with the new development.