Global Mold Market to Reach USD 56.4 Billion by 2025 with 5% CAGR

According to a report by MarketsandMarkets, the global mold market size is expected to reach USD 56.4 billion by 2025, growing at a CAGR of 5.0% during the forecast period. The report cites factors such as increasing demand for molded plastic products in various industries, technological advancements in the manufacturing process, and the rising adoption of mold simulation software as key drivers of this growth.
The report also highlights some of the key players in the mold market, including Husky Injection Molding Systems Ltd., Milacron Holdings Corp., and Schöttli AG.
In addition, the report notes that the Asia Pacific region is expected to be the fastest-growing market for molds during the forecast period, due to factors such as the growing automotive and packaging industries in the region.