Global Hot Runner Market size was valued at USD 3.38 billion in 2021 and is predicted to reach USD 6.11 billion by 2030 with a CAGR of 6.8% from 2022-2030. Hot runner is an industrial device used for transferring molten plastic into mold tool cavities for manufacturing various plastic products. It consists of flow control systems, nozzles, manifold plates, and hot valves. Size of the hot runner channel depends on injection speed, type of resin, fill rate, and molded part. The molds may vary from having 1 to 150 nozzles depending on the plastic part in molding automation. There are various advantages of hot runner such as lower processing costs, improved molding system efficiency, design flexibility, and balanced melt flow. Owing to these advantages and its capability of producing highly complex parts in various sizes, it finds applications in various industries.
Market Segmentations and Scope of the Study:
The hot runner market has been segmented based on type, gate, application, and geography. Based on type, the market is bifurcated into insulated runner, heated runner, externally heated, and internally heated. Based on gate, the market is bifurcated into valve gate hot runner and open gate hot runner. Based on application, the market is classified into automotive industry, electronic industry, medical industry, packaging industry, and others. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising of North America, Europe, Asia-Pacific, and RoW.
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Geographical Analysis
Asia-Pacific region holds the lion share of hot runner market and is expected to continue dominating the market during the forecast period. The growing shift towards automated plastic processing and packaging to improve productivity and efficiency as well as surge in population in this region, which in turn raises the demand for plastic products drives the hot runner market in Asia-Pacific. North America, on the other hand is expected to show a steady rise in the hot runner market as hot runners prevent the material from solidifying, thereby reduce the cycle time, generation of plastic waste and significantly minimize the time required to smoothen the final product.
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Competitive Landscape
The market comprises of various players such as Barnes Group Inc., CACO PACIFIC Corporation, Milacron, Husky Injection Moulding Systems Ltd, EWIKON Molding Technologies, Inc., Fast Heat UK Limited, Fisa Corporation, Yudo Hot Runner India Pvt. Ltd., HASCO, INCOE Corporation, and Seiki Corporation. These manufacturers are actively indulging in R&D initiatives, product & technology innovations, and industrial collaborations to enhance their product and increase their growth as well as geographical reach. For instance, in January 2021, Husky Injection Molding Systems Ltd. launched ‘UltraShot Injection System’. UltraShot Injection System uses lesser high-pressure injection cycles, conserving the original resin properties and boosting product’s quality.
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