5 Moldmaking Metalworking Trends

As I prepared for IMTS 2024 and worked through the press releases sent in by exhibitors to promote their latest technology, I identified some trends in the products, equipment and services impacting moldmaking. These trends are helping to reshape its future and open the door to new opportunities. Listed below are five:

1. Market Dynamics and Business Strategies. Reshoring trends are emphasizing domestic production to enhance supply chain resilience and control quality and lead times. Diversification is key, with companies expanding into mold maintenance, production molding and automation. The EV market is demanding new designs for battery components and lightweight parts. Mergers and acquisitions continue to drive industry consolidation.

2. Workforce Development and Skills Gap. An aging workforce continues to demand attracting and training new professionals. Companies are using mentorship programs, partnerships with educational institutions and AR/VR for immersive, hands-on training. Cross-training initiatives are helping to develop broader skill sets and enhance career paths. Efforts to attract a diverse workforce are aiming to rebrand moldmaking as a high-tech field.

3. Design and Manufacturing Advancements. CAD/CAM software continues to evolve, providing tools for complex geometries and streamlined workflows. Additive manufacturing, especially 3D printing, is widely used for rapid prototyping and creating intricate tooling. Five-axis machining continues to enable high-precision, efficient production and innovations in cutting tool materials and coatings are improving tool life and surface finishes.

4. Automation and Smart Manufacturing. Automation is playing a crucial role with robotic systems integrated into production processes. Automated machining cells are enabling extended hours of unattended operation, enhancing productivity and reducing labor costs. Data-driven decision-making, AI and cloud-based monitoring are improving operational efficiency and quality. Digital twin technology is enabling virtual testing and optimization before physical manufacturing, reducing errors and waste.

5. Quality Control and Precision Manufacturing. Advanced inspection technologies, like CMMs and laser scanning are being integrated into production workflows. On-machine verification is ensuring accuracy and reducing setup times, allowing moldmakers to quickly identify and correct issues.

By leveraging technology and focusing on quality and precision, the moldmaking industry will continue to drive manufacturing innovation.