The latest report by IMARC Group, titled “Plastic Processing Machinery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, finds that the global plastic processing machinery market reached a value of US$ 35.0 Billion in 2022. Plastic processing machinery refers to the equipment used to transform various types of plastics into semi-finished plastic products. Some of the most used plastic processing machines include blow molding, plastic injection, extrusion, vacuum forming, and rotational molding. These machines produce intricate as well as simple designs while giving a desired shape and size to the plastic with the help of a rigid frame or mold. In recent years, plastic processing machinery has gained traction as they assist in producing lightweight, high-strength, fuel-efficient, and durable plastic components across various industry verticals, including automotive, electronic and electrical, packaging, and agriculture.
Global Plastic Processing Machinery Market Trends:
One of the primary factors driving the market is rapid industrialization and the increasing production of consumer goods and electronics. Additionally, numerous technological developments, such as 3D printing and automated plastic processing machines, are creating a positive market outlook. Other than this, the significant demand for plastics is leading to the widespread utilization of plastic processing machinery, thereby creating a positive market outlook. Besides this, plastic processing is gaining popularity across packaging industries on account of its toxin-resistant and contaminant-free nature. In line with this, the extensive adoption of plastic processing machinery in the medical industry for manufacturing prosthetic tools and artificial limbs is propelling the market growth. Furthermore, these machines are capable of producing personalized products on a large scale with better precision and flexibility. Other growth-inducing factors include the implementation of favorable government policies and the adoption of plastic recycling machinery. Looking forward, IMARC Group expects the market value to reach US$ 44.5 Billion by 2028, expanding at a CAGR of 3.8% during the forecast period (2023-2028).
- Based on the product type, the market has been divided into blow, compression, extrusion, injection, rotational, and other molding machinery.
- On the basis of the plastic type, the market has been segregated into polypropylene (PP), polyethylene (PE), polyurethane (PUR), polyvinyl chloride (PVC), polyethylene terephthalate (PET), polystyrene (PS), and others.
- Based on the end use industry, the market has been segmented into packaging, construction, automotive, electronic and electrical, agriculture, and other industries.
- Region-wise, the market has been classified into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has also been analyzed, with some of the key players being Arburg GmbH, Cosmos Machinery, Haitian Plastics Machinery Group Co. Ltd., Husky Injection Molding Systems, Japan Steel Works Ltd., Milacron Holdings Corporation, Niigata Machine Techno Company Ltd., Sumitomo Heavy Industries, and Toshiba Machine Co. Ltd.
|Base Year of the Analysis
||Product Type, Plastic Type, End-Use Industry, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Arburg GmbH, Cosmos Machinery, Haitian Plastics Machinery Group Co. Ltd., Husky Injection Molding Systems, Japan Steel Works Ltd., Milacron Holdings Corporation, Niigata Machine Techno Company Ltd., Sumitomo Heavy Industries and Toshiba Machine Co. Ltd.
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