Demand of plastic injection molding machine in China grew steadily in 2009

Plastic injection molding machine (also known as injection molding machine or injection machine) is a type of equipment accounting for the largest share in the total output of plastic processing machinery at 40% in China and 50-80% in Germany, Japan and USA as per researchandmarkets.com. The global plastic injection molding machine market has developed at an annual average rate of 3.5% in recent years with the output in 2006 reaching 91,480 and in 2007 hitting approximate 97,250. However, the output experienced continuous downslide in both 2008 and 2009 by 10% and 5% respectively because of global financial crisis. In 2009, the domestic demand market of plastic injection molding machine in China grew steadily yet, the output was increased by 9.2% and the sales volume was raised by 9.0%. The major reasons can be divided as follows: The market slowed down in 2008 and the cardinal number of the industry was relatively low; The demand of downstream industries such as building materials, home appliances and electronic communication was on the increase; Chinese government adopted a series of significant measures like domestic demand expansion, economic development promotion, industrial revitalization planning, etc.; The nation practiced value added tax reform so as to encourage the equipment investment of enterprises. On the contrary, the import & export market of Chinese plastic injection molding machine in 2009 was not so optimistic, the import and export volumes throughout the year were declined by 49.1% and 39.3%, respectively. The production of plastic injection molding machine in China takes on conspicuous regional characteristics, Ningbo (Zhejiang) and Dongguan (Guangdong) turn out to be the major production bases of plastic injection molding machine in China and even across the world. Especially Ningbo (Zhejiang), the output of plastic injection molding machine of which occupies a half of Chinese market and enjoys 1/3 of global market shares. Beilun Plastic Injection Molding Machine Industry Base as the core production area in Ningbo is home to dozens of key enterprises including Haitian International, The Chen Hsong Group, L.K. Group, Germany's Demag and Japan's Sumitomo Heavy Industries. The sales of plastic injection molding machine in Beilun District, Ningbo in 2009 reached RMB6.4 billion, accounting for 45% of the total sales nationwide, while the profit hit 50% or so of the national total.