Industrial Mold Market Business Opportunity And Key Trends Forecast 2020 - 2023
Posted by vamshi1 on August 28th, 2020
The Business Research Company published its Industrial Mold Global Market Report 2020 which provides strategists, marketers and senior management with the critical information they need to assess the global Industrial Mold market. The report provides in-depth analysis of the impact of COVID-19 on the market, along with revised market numbers due to the effects of the coronavirus.
The report covers the Industrial Mold market’s segments-
Industrial Mold Global Market Report 2020 is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies. The chapter on the impact of COVID-19 gives valuable insights on supply chain disruptions, logistical challenges, and other economic implications of the virus on the market. The chapter also covers markets which have been positively affected by the pandemic.
The global industrial mold market is expected to decline from .2 billion in 2019 to .6 billion in 2020 at a compound annual growth rate (CAGR) of -2.3%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 8% from 2021 and reach .3 billion in 2023.
Conformal cooling designs are increasingly being used by manufacturing companies in 3D-printed molds as they provide better cooling to the molded products. Conformal provides better cooling molds with complicated geometric design and overcomes issues like uneven cooling which adds warp, intricate curves, thin walls, and tight tolerances. Mold manufacturing companies provide inbuilt conformal cooling design in their 3D-printed molds that reduces energy consumption and cooling cycle time from 15-60%.
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