PUBLISHER: The Business Research Company | PRODUCT CODE: 1414505
PUBLISHER: The Business Research Company | PRODUCT CODE: 1414505
“Plastic Processing Machinery Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on plastic processing machinery market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for plastic processing machinery? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The plastic processing machinery market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Plastic processing machinery encompasses a range of equipment utilized in the manufacturing and refinement of plastic products. These machines play a vital role in converting raw plastic materials into finished goods applicable across diverse industries.
The primary categories of plastic processing machinery include injection molding machinery, blow molding machinery, extrusion machinery, thermoforming machinery, 3D plastic printers, among others. Injection molding machinery specifically handles the production of plastic parts by melting plastic pellets or granules and injecting them into a mold under high pressure. This process caters to a wide array of products such as syringes, remote control casings, and various everyday plastic items. Various types of plastics, including polypropylene (PP), polyethylene (PE), polyurethane (PUR), polyvinyl chloride (PVC), polyethylene terephthalate (PET), and polystyrene (PS), are employed in this machinery. The major industries benefiting from these machines include packaging, consumer products, construction, automotive, and other diverse sectors.
The plastic processing machinery market research report is one of a series of new reports from The Business Research Company that provides plastic processing machinery market statistics, including plastic processing machinery industry global market size, regional shares, competitors with a plastic processing machinery market share, detailed plastic processing machinery market segments, market trends and opportunities, and any further data you may need to thrive in the plastic processing machinery industry. This plastic processing machinery market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The plastic processing machinery market size has grown strongly in recent years. It will grow from $37 billion in 2023 to $39.02 billion in 2024 at a compound annual growth rate (CAGR) of 5.4%. The expansion witnessed in the historical period can be credited to several key factors a surge in demand for plastic products, the globalization and integration of supply chains, adherence to regulatory standards and compliance, emphasis on cost efficiency and productivity, and heightened environmental concerns.
The plastic processing machinery market size is expected to see strong growth in the next few years. It will grow to $48.99 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The anticipated growth in the upcoming period is set to be driven by several pivotal factors the integration of Industry 4.0 principles into operations, a heightened focus on the circular economy, increased emphasis on customization and flexibility, rising investments in research and development endeavors, evolving trends in e-commerce and packaging, and a noticeable shift towards the utilization of bioplastics.
The burgeoning demand for plastic products emerges as a pivotal driver propelling the growth of the plastic processing machinery market. Plastic products, ranging from medical equipment to household items, automotive parts, packaging materials, and consumer goods, are manufactured using plastic processing machinery. A notable surge in global plastic goods trade was observed, amounting to approximately $1.2 trillion in 2021, marking a substantial growth of around $369 million. This escalating demand for plastic products continues to be a key catalyst driving the expansion of the plastic processing machinery market.
The robust expansion witnessed within the construction sector stands poised to significantly influence the growth trajectory of the plastic processing machinery market. Plastic processing machinery plays a crucial role in providing essential components such as pipes, sheets, and panels used in construction and infrastructure projects. For instance, the U.S. Census Bureau reported a substantial increase in housing unit commencements in 2021, reaching an estimated 1,595,100 units, marking a 15.6% surge compared to the 2020 figure of 1,379,600. This remarkable expansion in the construction sector significantly contributes to the propulsion of the plastic processing machinery market.
Technological advancements constitute a prominent trend reshaping the plastic processing machinery landscape. Market players are keenly embracing innovative technologies to fortify their market presence. Notably, LS Mtron introduced a smart AI-based injection molding system in August 2022, featuring an AI molding assistant and smart weight control. These technical innovations significantly reduce the stabilization time during initial molding steps and enable real-time weight detection, respectively, enhancing efficiency within the plastic processing machinery domain.
Leading companies within the plastic processing machinery market are actively pursuing innovative technologies such as PET injection molding to gain a competitive edge. PET injection molding, specifically targeting Polyethylene Terephthalate resin, facilitates the production of various plastic products, primarily preforms and containers. For instance, Husky Injection Molding Systems launched the HyPET HPP5e Recycled Melt to Preform (RMTP) system in May 2022. This revolutionary PET injection molding technology supports sustainable packaging by directly converting washed flake to preform, bypassing traditional rPET pellet production. The system achieves a substantial 30% energy saving and integrates Husky's Advantage+EliteTM real-time monitoring solution, ensuring proactive, predictive, and transparent analytics. This system significantly contributes to the circular economy by streamlining processes and reducing variability risks associated with post-consumer resin usage.
In February 2022, Comar, LLC, a US-based manufacturer of innovative plastic solutions acquired Automatic Plastics Ltd., for an undisclosed amount. With this acquisition, Comar expanded its geographical footprint by strengthen its pharmaceutical and medical device packaging expertise. Automatic Plastics Ltd. is an Ireland-based company specializing in plastic injection molding machines.
Major companies operating in the plastic processing machinery market report are Husky Injection Molding Systems Ltd., Milacron LLC, Engel Austria GmbH, Haitian International Holdings Limited, Sumitomo Heavy Industries Ltd., Arburg GmbH & Co KG, Toshiba Machine Co Ltd., Nissei Plastic Industrial Co Ltd., Niigata Machine Techno Company Ltd., COSMO MACHINERY Co LTD., Wilmington Machinery Incorporated, KraussMaffei Corporation, Ningbo Haida Plastic Machinery Co Ltd., Shibaura Machine Co Ltd., JSW Plastics Machinery Inc., Chen Hsong Holdings Limited, Wittmann Battenfeld GmbH, Negri Bossi SpA, Mitsubishi Heavy Industries Plastic Technology Co Ltd., Cosmos Machinery Enterprises Limited, Fu Chun Shin Machinery Manufacture Co Ltd., Woojin Plaimm Co Ltd., Toyo Machinery & Metal Co Ltd., Chen De Plastics Machinery Co Ltd., L.K. Machinery International Limited, Sidel S.A.S., Krones AG, Hi-Rel Plastics & Molding Inc., Molded Devices Inc., Valencia Plastics Inc., Maryland Plastics Inc., Accent Plastics Inc., Accudyn Products Inc., Accurate Molded Plastics Inc., Acorn-Gencon Plastics Inc., Adkev Inc., Advanced Engineering & Molding Technology Inc., Advanced Special Tools Inc., Agape Plastics Inc., Aline Components Inc., All Form Silicone & Plastic Molding Inc., All-Plastics LLC, All-State Plastics Inc., Alliance Precision Plastics Inc.
North America was the largest region in the plastic processing machinery market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global plastic processing machinery market report during the forecast period. The regions covered in the plastic processing machinery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the plastic processing machinery market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The plastic processing machinery market consists of sales of compression molding machinery, rotational molding machine, co-extrusion machines and thermo-compression molding machines. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.