Jul 2, 2019 SOURCE: BusinessWire

Latin America Injection Molding Machines Market 2019-2024: The Market is Dominated by Haitian International - ResearchAndMarkets.com

The "Latin America Injection Molding Machines Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.

The Latin America injection molding machines market is expected to grow at a CAGR of 4.06 % during the forecast period of 2019 - 2024.

Major factors driving the market studied are increasing demand in the automotive industry in Brazil and high demand from the packaging industry. High initial cost and economic crisis in Latin America are expected to majorly hinder the growth of the market studied.

Technological advancement in the injection molding machine is expected to offer various opportunities for the growth of the Latin America injection molding machine market during the forecast period.
By machine type, the hydraulic injection molding machine is estimated to have the largest share, with about 60% of the overall value of Latin America injection molding machine market in 2019.

Key Market Trends

High Demand from the Packaging Industry

All of the packaging products used in day-to-day life, such as mobile phone housings, 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 packaging industry in Brazil has shown moderate growth during previous downturns, owing to the sales of packaged foods, beverages, beauty, and personal care, and home care products.
Additionally, the retail e-commerce business has been growing rapidly in the country, which is further adding to the demand for the packaging material providing market.
The packaging industry in Mexico is very dynamic. The industry offers a wide range of opportunities with food processing. However, new opportunities have also opened up in the pharmaceutical, cosmetics, and personal care industries.
Many multinational packaging companies have successfully entered Mexico. Increasing demand from consumer goods has enabled packaging manufacturers for the expansion of packaging in Mexico.
Thus, the growth in the packaging sector is likely to boost the demand for injection molding machines in Latin America, during the forecast period.

Brazil to Dominate the Market

Brazil plays 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.
Brazil is Europe's most important trading partner in Latin America. In 2018, the export of plastics and rubber machinery from the EU to Brazil is valued at EUR 169 million.
Events like the International Plastic Trade Fair (FEIPLASTIC) and Plstico 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 in this sector with a large volume of business deals and leading technologies. The event happened in March 2019 and there were more than 800 national and international exhibition brands that presented their products.
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 technology.
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, in turn, are expected to increase the demand for injection molding machines during the forecast period.

Competitive Landscape

Latin America injection molding machines market is a consolidated market.
The injection molding machine market in the Latin American region is dominated by Haitian International.
Other major players in the market include Arburg GmbH & Co. Kg, KraussMaffei Group, and INDSTRIAS ROMI SA, among others.

Key Topics Covered:

1 INTRODUCTION

1.1 Study Deliverables

1.2 Study Assumptions

1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Drivers

4.1.1 Growing Demand in Automotive Industry in Brazil

4.1.2 High Demand from Packaging Industry

4.2 Restraints