Markets – The mould industry is predicted to grow further in the near future according to Business Research Company.
The mould industry is predicted to grow further in the near future owing to factors such as growing population, exploration of shale oil, investment in the manufacturing industry and low fuel prices. Moreover, in this scenario, countries such as China, USA, Japan and Germany are leading this specialised sector.
The industrial mould manufacturing market size is expected to reach a higher value by 2022, significantly growing at a steady CAGR during the forecast period, according to a recent report by market research firm, The Business Research Company. The report also notes factors for growth in the industrial mould manufacturing market are the growing population, exploration of shale oil, investment in the manufacturing industry and low fuel prices.
Another report by Wise Guy Reports mentions that sectors such as automotive, consumer electronics, infrastructure development, mass engineering projects and national energy development road maps will support the global die and mould industries' growth in the years to come. Through this, we understand that the global mould market is poised for growth.
According to ISTMA's Statistical Yearbook, which ISTMA recently released and has numbers and graphs about the latest information on international trade in the tooling industry, the major global producers of tools, moulds and dies are China, USA and Japan with a combined production value of 49 billion dollars. Germany from Europe holds the fourth position. ISTMA President Bob Williamson said at the Mex Conference in Slovenia in March this year: “There is no production without our industry! Zero! Well over 60% of potential cost efficiency, irrespective of the product, depend directly on the choice of the right tools and moulds for the production process.”
In China, the consumption value of die and mould is 230 billion Yuan (34 billion dollars) and the total import amount accounts for less than 10% of China’s die and mould consumption. The core reason behind this scenario is that China’s die and mould industry is stable and well-equipped.
The countries with the greatest exports all come from Asia: China exports products worth 4,557 million dollars, the Republic of Korea 2,599 million dollars and Japan 2,398 million dollars. Combined, these countries represent the most important competitors to European tool and mould-makers.
This first appeared on www.maschinenmarkt.international.