Precision plastic injection mold components and progressive die stamping have been used in fabricating and casting of constituent components used in areas such as industrial automation equipment, automotive parts, medical implant accessories and consumer goods. The components and tooling systems address a plethora of applications such as injection molding, metal stamping, munitions, medical –pharmaceutical accessories. The products involve standard as well as customized stamping parts to address specific requirements by end use industries. Emphasis on product quality by efficient design & accreditation of the same has been practised by the manufacturers as a standard norm.
In the competition scenario, the precision plastic injection molding components and stamping die market consists of large to small scale manufacturers based on manufacturing and supply of unit components as well as integrated tooling systems. The market has witnessed mergers and acquisitions, joint ventures/ collaborations and periodic strategic alliances in terms of business operations & market penetration purpose. In the supply chain, OEMs as well as distributors are the major participants. In terms of revenue generation, the high end application markets such as defence, mining and health care are the potential sectors which allow greater profitability margins compared to other end use sectors. Cost effective product development and innovation backed by marketing logistics have been the deciding factors for the cn spare parts manufacturers to go ahead of their competitors.