As now all countries gradually lift their COVID-19 restrictions, the dampened global economy is slowly recovering. Among them, the development of the global automotive market is particularly anticipated. President Hsiao, the Executive Director of the Taiwan Machinery Association and the President of Forwell Group, stated that the demand in the automotive market is gradually heating up. In particular, with the easing of the shortage of automotive chips, the market share of electric vehicles is expected to grow rapidly. The rubber and plastic molding market is also expected to experience exponential growth due to the significant increase in global demand for vehicles.
President Hsiao of Forwell Group stated that the global automotive market is currently heating up, and the electric vehicle market in mainland China is also gaining momentum. currently, the leading electric vehicle manufacturer Tesla reduced its prices, stimulating demand. Whether other electric vehicle brands will follow suit remains to be seen. However, this move has indeed successfully boosted the electric vehicle market. As a result, both the electric vehicle and automotive markets have become more active. In order to pursue higher product value and enhance product features, the related automotive parts and car electronics industries are striving to create a stronger market competitiveness. One of the most direct and effective ways is to reduce production costs reasonably and meet market trends and demands.
President Hsiao also mentioned that many automotive metal components are gradually being replaced by injection-molded components made of dual-color or multi-color rubber and plastic materials, or composite molded components combining rubber and plastic with materials such as iron and aluminum. This is primarily because these components meet the requirements of strength, hardness, appearance, color, and are comparable to full metal components. They also offer the advantages of low cost and lightweight. Now, their application has expanded to the field of 3C products in the market.
Furthermore, Hsiao further explained that with the advancement of materials formulation, dual-color and multi-color injection molding technology, as well as equipment improvement in materials such as plastic steel, the development and utilization of rubber and plastic injection molding products have become increasingly widespread. The applicability and substitutability of these products in terms of their characteristics have also increased. Furthermore, with the advantages of low cost, lightweight, and ease of molding, along with advancements in vacuum electroplating surface treatment technology, there are more options and variations in product appearance and color. These products also meet the demand for easy recycling and environmental friendliness. As a result, the application and potential of injection molding products in automotive components and 3C products are expanding, creating promising business opportunities in the industrial sectors.
President Hsiao also stated that in order to meet the high precision requirements and diverse production modes of automotive components, injection molding manufacturers are not only gradually improving and upgrading their production equipment but also advancing their mold technology. In the pursuit of integrated production and simplified processes, molds are becoming larger and the usage and frequency of mold changes are increasing. Therefore, achieving improved quality and efficient production can be achieved through systematic mold and die management system.
Currently, FORWELL Group is focusing on the development of intelligent mold management systems that comply with ESG (Environmental, Social, and Governance) standards and have low carbon emissions. The current intelligent quick die change systems include three major systems: the mold conveying system (automatic die change trolley system), the mold automatic warehousing system, and the mold maintenance system. As a result, in order to develop environmentally sustainable low-carbon equipment, FORWELL not only plans to invest in the research and development of low-carbon emission intelligent equipment and update the design of related components but also has started to create a production environment that meets carbon tax reduction standards. In the future, all FORWELL products will be developed and designed to meet the demands for energy-saving and carbon reduction, ensuring that all products meet the ESG sustainability standard levels.