Vietnam Molds and Dies Market By Product Type (Plastic Molds; Sheet Metal Dies; Die Casting Dies; Forging; Jigs, Fixtures, and Gauges; Others), End User (Plastics, Electrical & Electronics, Automotive, Others) -Forecast to 2020

Molds and dies are one of the most important machine tools used by various industries to carry out mass production. Molds are used when the products that are being manufactured, need to be hollow in the middle. Dies are used to stamp solid products out of media such as steel. Molds are being used across various industries, owing to increased demand for high-precision tools for mass production. Plastics, electrical & electronics, and automotive are the major end users of molds and dies in Vietnam.

The Vietnam molds and dies market was valued at USD 575.3 million in 2014 and is expected to reach USD 944.1 million by 2020, at a CAGR of 8.2% from 2015 to 2020. Key factors that drive the growth of the market include the rising FDI in the electronics industry, increasing exports by the plastics industry, and growing support from the Japanese molding companies.

This study aims to estimate the market size of the Vietnam molds and dies market in 2015, and project its value by 2020. This market research study provides a detailed qualitative and quantitative analysis of the Vietnamese molds and dies market. Various secondary sources, such as directories, industry journals, and databases have been used to identify and collect information useful for the extensive, commercial study of the Vietnam molds and dies market. The primary sources, which include experts from related industries and suppliers, have been interviewed to obtain and verify critical information as well as to assess the future prospects of the Vietnam molds and dies market.

The key players in the Vietnamese molds and dies market have not carried out any strategic developments over the past few years, due to lack of technology and skilled workforce. Some of the key players of molds and dies include Misumi Group Inc. (Japan), Nagase & Co. Ltd. (Japan), VS Industry Vietnam Joint Stock Company (Vietnam), Fujipla Engineering Vietnam Co., Ltd. (Vietnam), Hirota Precision Vietnam Co., Ltd. (Vietnam), Mo Tien Mold Co., Ltd. (Vietnam), Phuc Anh Precision Mechanical JSC (Vietnam), Takahata Precision Vietnam Co., Ltd. (Vietnam), Vietnam Kanzaki (Vietnam), Vietnam Precision Mechanical, Service And Trading Co., Ltd (Vietnam), and Vina Mold & Metal Products Co., Ltd. (Vietnam).

Scope of the Report

The Vietnam molds and dies market has been covered in detail in this report. In order to provide an overall scenario of the current market demand and forecasts have also been included. The market has been segmented as follows:

Based on End Users:

• Plastics
• Electrical & Electronics
• Automotive
• Others

Based on Product Type

• Plastic Molds
• Sheet Metal Dies
• Die Casting Dies
• Forging
• Jigs, Fixtures, and Gauges
• Others

The Vietnam molds and dies market was valued at USD 575.3 million in 2014 and is expected to reach USD 944.1 million by 2020, at a CAGR of 8.2% from 2015 to 2020

The Vietnamese molds and dies market witnessed high growth in the recent years and the trend is expected to continue in coming years. The rising FDI in the electronics industry, increasing exports by the plastics industry, and growing support from the Japanese molding companies are some of the factors driving the growth of the molds and dies market in Vietnam. The increased competition from molds manufacturers in China, need for increased investments to carry out large-scale production in various manufacturing industries, and need to impart trainings for high-skill jobs in molds and dies industry are some of the key challenges faced by companies operational in this market.

Molds range from a simple single cavity/small volume use type to complex multi-cavity/large-volume use type. Certain molds may incorporate heating elements or features that change their physical structure. Dies and molds are important tools, which are required by various end use manufacturing industries to carry out mass production process. The demand for the production of dies and molds emerges independently wherein the end use manufacturing industry or its local vendor acquires machine tools as process equipment for building molds.

The demand and supply of molds and dies is expected to increase in Vietnam, owing to the growth in various end user industries, such as electronics and plastics in the country. The plastic end user segment is expected to contribute the largest share of 42.9% to the market in 2014; the plastics industry in Vietnam is expected to witness significant growth in the coming year, thereby leading to growth in the molds and dies market in the country. The automotive industry contributed a share of 19.1% to the market in the same year.

The machinery and technologies used by the companies manufacturing molds and dies in Vietnam are imported from Japan, South Korea, and China. Based on product type, the plastic molds is the largest segment of the market. This segment is expected to grow at the highest CAGR of 9.0% from 2015 to 2020. This segment is projected to be followed by the die casting dies and sheet metal dies segments.

Key molds and dies manufacturers and suppliers in Vietnam include Misumi Group Inc. (Japan), Nagase & Co. Ltd. (Japan), VS Industry Vietnam Joint Stock Company (Vietnam), Fujipla Engineering Vietnam Co., Ltd. (Vietnam), Hirota Precision Vietnam Co., Ltd. (Vietnam), Mo Tien Mold Co., Ltd. (Vietnam), Phuc Anh Precision Mechanical JSC (Vietnam), Takahata Precision Vietnam Co., Ltd. (Vietnam), Vietnam Kanzaki (Vietnam), Vietnam Precision Mechanical, Service And Trading Co., Ltd. (Vietnam), and Vina Mold & Metal Products Co., Ltd. (Vietnam).