Global Plastic Processing Machinery Market valued at US $35.02 Billion in 2022, anticipated to reach a value of US $51.15 Billion in 2030, growing at a CAGR of 4.85%
Global Plastic Processing Machinery Market- Overview
The plastic processing machinery is mainly used in the processing of raw plastics and also for moulding them into desired shape.
This generally involves diverse materials that ranges from thermoplastics polyethylene and polypropylene to new age elastomers and composites.
The rising consumption of plastics with the rising availability of financing is projected to catalyse spending on capital equipment that stimulates the growth of the global plastics processing machinery market over the forecast period.
Also, trends that includes, rising demand for biodegradable and reinforced plastics is projected to drive the market over the forecast period.
Strong Plastic Demand in the Healthcare Sector During COVID-19 & Its Effect on Market
Due to the temporary closure of enterprises and other limitations put in place to contain the virus, the coronavirus pandemic has caused significant changes in supply chains, consumer behaviour, and routes to market in a number of industries around the world. These elements had detrimental effects on a variety of industrial operations, including the creation of machinery for processing plastic.
Key market trends:
Every market has its growth determinant and challenges. One of the major factor that has fuelled the market growth over the forecast period is the latest technology that is been used in the market.
Also, the plastic processing market for the main purpose of processing machinery is highly technology driven with moulders that are always on the lookout for features that includes, productivity, flexibility, energy efficiency, and bottom-line performance in order to reduce operating costs and produce high quality products.
Additionally, the recovery in downstream industries including, construction and auto parts has supported the growth of the market in the forecast period.
Segmental analysis of the Market:
Based on Product type
• Injection Molding Machinery
• Blow Molding Machinery
• Compression Molding Machinery
• Extrusion Molding Machinery
• Rotational Molding Machinery
The extrusion molding machinery segment has dominated the market growth over the forecast period. This is because it will boost the sales of more productive and higher priced machinery.
Based on End-User
• Packaging Industry
• Construction Industry
• Automotive Industry
• Electronic and Electrical Industry
• Agriculture Industry
The packaging Industry has dominated the market growth over the forecast period.
North America is expected to dominate the market growth over the forecast period
The Global Plastic Processing Machinery Market is segmented into 4 main regions namely, North America, Europe, Asia Pacific, and Middle east and Africa. Among these, North America is projected to dominate the market growth over the forecast period. This is because of the rising consumption of plastic in automobile, consumer, transportation, packaging, as well as construction sectors.
Some of the prominent companies operating in the market are
• Arburg GmbH & Co.
• Battenfeld-Cincinnati Austria GmbH
• BEKUM Maschinenfabriken GmbH
• Brown Machine LLC
• Brückner Group GmbH
• Davis-Standard, LLC
• Engel Austria GmbH
• FANUC Corporation
• Fu Chun Shin Machinery Manufacture Co., Ltd.
• GN Thermoforming
• Haitian International Holdings Limited
• Husky Injection Molding Systems Ltd.
• Kautex Maschinenbau GmbH
• KraussMaffei Technologies GmbH
• Milacron LLC
• NEGRI BOSSI SpA
• Ningbo Haida Plastic Machinery Co., Ltd.
• Nissei ASB Machine Co., Ltd.
• Reifenhäuser Group
• SencorpWhite, Inc.
• Sumitomo Heavy Industries Ltd.
• Sumitomo (SHI) Demag Plastics Machinery GmbH
• The Japan Steel Works, Ltd.
• Shibaura Machine Co. Ltd.
Major questions answered in this report:
• What is the growth rate of Global Plastic Processing Machinery Market?
• What are the primary growth determinants of the market?
• Which are the major regions constituting the geographical landscape of the market?
• Which are the prominent companies operating in the market?
Key takeaways from the report:
• The Global Plastic Processing Machinery Market is projected to expand at a CAGR of 4.85% over the forecast period.
• The latest technology used in the market is aiding market progression.
• The extrusion molding machinery segment is poised to expand significantly over the forecast period.
• North America has dominated the regional market sphere over the forecast period.