The corresponding demand for Japanese injection molding machine exports is highly similar to that of domestic injection molding machine companies. The increase in export orders from Japan indicates that demand in the entire injection molding machine industry is on an upward channel, and leading companies in the Chinese injection molding machine industry are expected to benefit simultaneously.
The Zhitong Finance App learned that Dongwu Securities released a research report saying that orders for the Japanese injection molding machine industry increased 24.3% year on year in June, and the injection molding machine industry boomed. According to statistics from the Japan Industrial Machinery Industry Association, major Japanese injection molding machine manufacturers reported an increase in automobile-related orders, mainly in China, and in the US market, demand and inquiries, mainly automobiles, are also increasing. Currently, leading domestic injection molding machine companies account for a relatively high share of overseas business revenue, and the general trend of trade globalization in the injection molding machine industry has matured. In this context, the corresponding demand for Japanese injection molding machine exports is highly similar to the corresponding demand of domestic injection molding machine companies. The increase in Japanese export orders shows that demand in the entire injection molding machine industry is on an upward channel, and leading companies in the Chinese injection molding machine industry are expected to benefit simultaneously.
Orders in the Japanese injection molding machine industry increased 24.3% year-on-year in June, and the injection molding machine industry boomed
According to the summary data of the Japan Industrial Machinery Industry Association and the Japan Plastics Machinery Industry Association, the number of orders for the Japanese injection molding machine industry in June 2024 was 1,017 units, up 24.3% year on year, achieving 6 consecutive months of year-on-year growth. Among them, orders for injection molding machines in Japan were 283 units, a year-on-year decrease of 4.1%; however, export orders still achieved a considerable increase of 40.3% year-on-year to 734 units. Although the number of injection molding machine orders in Japan in June decreased by 11.4% compared to the May data, the year-on-year performance maintained a good growth trend, and overseas demand supported the upward trend in the injection molding machine industry.
Demand trends for injection molding machines of different tonnages are diverging, and China is contributing the main export demand
Looking at models by tonnage, the growth rate of 20-99 ton injection molding machines and 500-999 ton injection molding machines was outstanding in Japanese injection molding machine export orders in June 2024. Among them, overseas orders for 22-99 ton injection molding machines increased 220% year on year. Small-tonnage injection molding machines mainly correspond to the civilian daily necessities industry, overseas orders for 500-999 ton injection molding machines increased 80% year on year, and large tonnage injection molding machines mainly correspond to the automobile manufacturing industry. According to statistics from the Japan Industrial Machinery Industry Association, major Japanese injection molding machine manufacturers reported an increase in automobile-related orders, mainly in China, and in the US market, demand and inquiries, mainly automobiles, are also increasing.
The injection molding machine industry is already highly globalized, and domestic injection molding machine companies are benefiting simultaneously
Currently, leading domestic injection molding machine companies account for relatively high overseas business revenue. Take Haitian International and Terry Machinery as examples. In 2023, the two will account for 39.42% and 42.84% of overseas revenue respectively, proving that the general trend of trade globalization in the injection molding machine industry has matured. In this context, the corresponding demand for Japanese injection molding machine exports is highly similar to the corresponding demand of domestic injection molding machine companies. The increase in Japanese export orders shows that demand in the entire injection molding machine industry is on an upward channel, and leading companies in the Chinese injection molding machine industry are expected to benefit simultaneously.
Investment suggestions: We recommend [Haitian International] and [Yizumi], the leaders in the injection molding machine industry; it is recommended to pay attention to [Terry Machinery].
Risk warning: Demand in the injection molding machine industry is declining seasonally, and the main downstream capital expenses and procurement of the injection molding machine industry fall short of expectations.