Analysis of COVID-19 Crisis-driven Growth Opportunities in 2-shot Injection Molding Market

Global 2-shot Injection Molding Market: Highlights

• The global 2-shot injection molding market is projected to grow at a CAGR of nearly 7% between 2019 and 2027. Rising demand for high precision parts in automotive & medical industry coupled with growing use of recycle plastics is likely to drive 2-shot injection molding market during the forecast period.
• 2-shot injection molding is defined as the molding process, wherein a single injection molding machine and a single injection mold is used to form a part with two or more polymer resins within one cycle. 2-shot injection molding is sometimes also called as 2-k injection molding and double injection molding.
• There are several variants of the 2-shot molding process with the most common being the core back and rotating tool processes. This molding technique is typically used to combine hard plastics with a softer material. Some of the common combinations of materials are PP/ABS, PC/ABS, Silicones/Thermoplastics, TPE/Thermoplastics, Nylons/Elastomers etc.
• 2-shot injection molding is used to improve the aesthetic and ergonomic functionality of plastic and rubber molding products. 2-shot molding is usually to manufacture multi-colored parts, soft-touch handles & grips, articulated parts such as joints and hinges and technical parts for dampening vibrations.

Global 2-shot Injection Molding Market: Segmental Trends

• In terms of application, automotive applications was the largest segment of the 2-shot injection molding market, accounting for more than 25% share in 2018. However, the medical segment was projected to overtake the automotive segment by 2027.

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• The consumer goods and the electrical & electronics segments were also anticipated to witness growth due to increasing number of applications of 2-shot injection molding in these segments. The packaging and industrial segments were forecasted to witness below average growth rates during the forecast period.
• The opportunity for molders to differentiate and add value to their products through 2-shot injection molding was the prime driver for the market. In terms of product volume, PP was the leading product segment in the 2-shot injection molding market.
• Silicones, TPE, Nylons and Polycarbonate are one of the fastest growing polymers used in 2-shot injection molding. SBR, which is one of the most widely used elastomers, is rarely used in 2-shot molding as it is incompatible with most other polymers used in this molding process.

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Global 2-shot Injection Molding Market: Regional Highlights

• Germany was one of the first countries to adopt the 2-shot injection molding and the market penetration rate of the process is high in this country. However, the 2-shot injection molding market in Western Europe is at a relatively mature stage and is set to expand at a moderate pace during the next few years. Growth in the medical industry due an ageing population and increasing applications of 2-shot injection molding products in the well-established automobile industry in this Europe is likely to be the driver for growth in this market during the next decade.
• North America is anticipated to be a lucrative market for 2-shot injection molding with a large number of contract manufacturers operating in this region. The U.S is the leading consumer of polymers used in 2-shot injection molding accounting for around 25% of the total global consumption in 2018.

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• Asia Pacific is projected to be the fastest growing region for the 2-shot injection molding market during the forecast period. Growing key end-use industries and the need for manufacturers to differentiate their products is expected to boost the demand for polymers used for 2-shot injection molding in this region.
• The 2-shot injection molding market in Middle East & Africa and Latin America is anticipated to witness moderate growth during the forecast period. Brazil is expected to be highly lucrative in the forecast period mainly due to increasing use in medical and automobile applications. Mexico is also anticipated to witness growth due to nearshoring of 2-shot injection molding sites by several U.S companies.

Key Developments in Global 2-shot Injection Molding Market

• In April 2019, Carclo Technical Plastics Ltd (CTP) announced that its manufacturing facility in Doddaballapur near Bangalore, India, has been recommended by BSI for accreditation to the international standard ISO13485:2016 for medical applications.
• In February 2019, Carclo Technical Plastics Ltd (CTP) announces that it continues to develop its medical/optical manufacturing facility in Brno, Czech Republic. CTP’s strategy is to continue the manufacturing scale-up of components for drug delivery and diagnostic devices and eyecare disposables.
• In 2019, BMP Medical, a division of Biomedical Polymers opened a new facility located in Sterling, Mass for injection molding, blow molding, two-short, insert molding, and other packaging & assembly manufacturing services.
• In March 2018, Carclo Technical Plastics Ltd (CTP) announced the official opening of its new manufacturing facility in Mitcham, Surrey. The new 1,000m2 facility is dedicated to the manufacture BD Vystra ™ disposable pen which is used for delivery of liquid pharmaceuticals.
• In 2018, Rogan Corporation purchased a new Sodick TR Series 450-ton liquid silicone rubber ultra-precision injection molding machine to add to its current array of state-of-the-art molding presses.
• In 2018, Pycom, an innovative Internet of Things (IoT) technology company, entered into a strategic partnership with Season Group, a leading Global Electronics Manufacturing Service (EMS) provider, to provide end-to-end development, integration and manufacturing services for aspiring small to medium size enterprises (SME) companies.

Global 2-shot Injection Molding Market: Competition Landscape

• The global 2-shot injection molding market is dominated by a large number of companies each having a small share of the market. Some players in the market include Rogan Corporation, Bemis Manufacturing Company, Nyloncraft, Inc., Gemini Group, Inc. Biomedical Polymers Inc., Carclo Technical Plastics, Yomura Technologies and Evco Plastics.
• The global 2-shot injection molding market is highly fragmented with presence of a large number of players in the market, each holding a small share in the global 2-shot injection molding market.
• The primary strategy adopted by molders to remain competitive is decreasing the lead time and increasing the production volume.