Plastic Processing Equipment Market
Plastic Processing Equipment Market Analysis by Injection Molding, Blow Molding, Compression Molding, Extrusion Molding, and Rotation Molding from 2023 to 2033
Analysis of Plastic Processing Equipment Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Plastic Processing Equipment Market Outlook (2023 to 2033)
The global plastic processing equipment market is valued at US$ 44.09 billion in 2023 and is projected to reach US$ 68 billion by 2033, advancing at a steady CAGR of 4.9% over the next ten years.
Plastic processing equipment is used to convert various types of plastics into semi-finished plastic goods. Plastic processing equipment that is commonly used includes blow molding, extrusion, rotational molding, vacuum forming, and plastic injection. They generate basic or complex designs while providing a desired form and size to the plastic via a stiff mold or frame.
Plastic processing machinery is also utilized to make fuel-efficient, lightweight, high-strength, and long-lasting plastic components in a variety of industries, including agriculture, electronics, electrical, packaging, automotive, and construction. In recent years, the global market for plastic processing gear has grown dramatically. The increased demand for molded plastics from the packaging industry is the primary factor driving market expansion.
Increased consumption of packaged foods is fueling the demand for plastics, in turn driving the global market for plastic processing equipment. Because polymers are used to make artificial limbs and prosthetic equipment, the medical industry generates considerable demand for plastic processing equipment.
Report Attributes | Details |
---|---|
Plastic Processing Equipment Market Size (2022) |
US$ 42.2 Billion |
Estimated Market Value (2023) |
US$ 44.09 Billion |
Forecasted Market Value (2033) |
US$ 68 Billion |
Global Market Growth Rate (2023 to 2033) |
4.9% CAGR |
PET/PETE Segment Market Share (2023) |
13.5% |
Key Companies Profiled |
|
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What are the Key Factors Propelling the Demand for Plastic Processing Equipment?
“Rapid Industrialization and Widespread Utilization of Plastic Processing Machinery in Electronics and F&B Sectors”
One of the important factors driving market expansion is the increased production of consumer products and electronics, as well as rapid industrialization worldwide. Technological breakthroughs such as 3D printing and automated plastic processing machines are contributing to market expansion. These devices can produce bespoke products on a huge scale with more flexibility and precision.
Another factor is the widespread use of plastic in the manufacture of food and beverage packaging solutions. Several ready-to-eat foods and beverages are packaged in appealing plastic containers for increased shelf life and ease of storage. Other factors, such as the use of plastic recycling machinery and the execution of government initiatives boosting domestic plastic businesses, particularly in emerging countries, are expected to drive market growth in the future years.
“Growing Need for Plastics in Packaging Sector Due to Their Ability to Shield Items from Environmental Factors”
Global demand for plastic packaging from businesses such as food and beverages, consumer goods, electronics, and even industrial manufacturing is increasing. This is
primarily due to the advantages that plastic packaging offers, including compatibility with a wide range of products, ensuring product safety, the ability to eliminate odors, protecting items from environmental factors, and providing leakproof seals.
Plastic's lightweight nature is encouraging the adoption of plastic packaging in many sectors. Because glass is heavier than plastic, additional trips would be necessary during transportation. This equates to a greater environmental impact. Glass is also significantly heavier for the end user, whereas plastic is lightweight and much easier to transport. The market is expanding as a result of the increasing need for plastic in the packaging industry.
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What are the Deterrents to the Demand Growth for Plastic Processing Machinery?
“Environmental Concerns Associated with Plastic Waste and Fluctuations in Raw Material Prices”
The environmental impact of plastic waste has become a significant concern globally. The accumulation of plastic waste and its adverse effects on ecosystems, oceans, and landfills have led to increased regulations and initiatives promoting sustainable practices. This has put pressure on plastic processing equipment manufacturers to develop more environmentally friendly solutions, such as the use of recyclable materials and energy-efficient machinery.
The cost and availability of raw materials, particularly petroleum-based plastics, can be unpredictable due to factors such as geopolitical tensions, supply chain disruptions, and fluctuating oil prices. Volatility in raw material prices can affect the profitability and pricing strategies of plastic processing equipment manufacturers.
“Competition from More Sustainable Alternatives and Stringent Regulations Governing Plastic Use”
The market faces competition from alternative materials, such as bioplastics, composite materials, and other sustainable alternatives. As the demand for eco-friendly materials grows, manufacturers can explore options beyond traditional plastics, which could impact the demand for plastic processing equipment.
Compliance with stringent safety and quality regulations, such as product safety standards and emissions regulations, is a challenge for the plastic processing equipment market. Manufacturers need to invest in research and development to ensure their machines meet the required standards, which can increase costs and time to market.
Country-wise Insights
What are the Market Trends Driving the Demand for Plastic Processing Equipment in China?
“Increasing Manufacturing Operations Driven by Government Support”
Significant increase in manufacturing operations requiring high-performance components utilizing plastic in various end-user sectors is regarded as the primary factor boosting market expansion in China. The country is thought to be home to several fast-growing industries, including electronics, automotive, equipment manufacturing, and others, which provide prospects for plastic processing equipment producers.
China is known for its highly skilled workforce, as well as strong support from local governments. These factors are anticipated to drive the expansion of the market in the foreseeable future. With its significant domestic output, China is poised to be a leading contributor to market growth in Asia Pacific.
What are the Growth Prospects in the United States for Plastic Processing Equipment Manufacturers?
“Focus of Manufacturers on Sustainability and Eco-friendly Production”
The market in the United States is expected to exhibit significant growth in the coming years, owing to factors such as a thriving manufacturing sector, technological advancements, and rising demand for creative plastic products. The strong emphasis on research and development is another factor driving market expansion.
The plastic sector’s focus on sustainability and eco-friendly practices allows equipment manufacturers to develop solutions that promote recycling and reduce environmental effects.
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Category-wise Insights
What’s Leading to Extensive Adoption of Polyethylene Terephthalate (PET)?
“High Utilization of PET Due to its Flexibility, Low Weight, and Crack-resistant Properties”
The polyethylene terephthalate (PET/PETE) segment is expected to account for 13.5% share of the market in 2023, according to this study by Fact.MR, a provider of market research and competitive intelligence.
PET, the most widely used polymer on the planet, is a high-gloss, crack-resistant transparent plastic. PET is regarded as a safe, robust, flexible, lightweight, and non-toxic raw material that can be easily recycled. It is widely utilized in a variety of applications, including automotive, food and beverage packaging, and electronics.
Polyethylene terephthalate is the only material that can be shaped and sized to meet the rising demand for bottled drinks as well as glass and metal container replacements. It is completely recyclable and the most recycled plastic in the United States and around the world. It is recycled by carefully washing and remelting it, or by chemically breaking it down to its component elements to create new PET polymer.
Increasing need for polyethylene terephthalate in the packaging of food and beverages, including carbonated soft drinks, contributes to the expansion of the polyethylene terephthalate segment.
Why is Plastic Processing Equipment Used Widely in the Packaging Industry?
“High-speed and Mass Production Capabilities of Plastic Processing Equipment in Packaging Industry”
The packaging industry has witnessed significant advancements and transformations with the help of plastic processing equipment. Plastic processing equipment plays a vital role in the packaging sector by enabling the efficient production of a wide range of packaging materials and solutions.
Plastic processing equipment offers several key benefits that make it an ideal choice for packaging applications. One of the primary advantages is design flexibility. These machines allow manufacturers to create packaging products in various shapes, sizes, and configurations, catering to the specific needs and requirements of different industries. Whether it is bottles, containers, bags, or films, plastic processing equipment provides the versatility to produce packaging solutions with precision and customization.
Plastic processing techniques, such as injection molding and blow molding, enable high-speed production and mass production capabilities. This is crucial in meeting the demands of the packaging industry, which often requires large volumes of products within short turnaround times. Blow-molded containers ensure efficient and rapid production, allowing packaging manufacturers to keep up with market demands and supply chain requirements.
Competitive Landscape
With the presence of key players such as Brown Machine Group and Haitian International Holdings Limited, competition in the plastic processing equipment market is fierce. These companies have earned a competitive advantage through R&D by constantly innovating their offerings. They have been able to build a strong market presence and further improve technology through innovation and mergers & acquisitions.
- ALPLA Group, Brink, and IPB Printing joined forces with ENGEL in June 2022 to launch K 2022, a quantum leap for the packaging sector. PET thin-walled containers can now be produced in a single injection molding step. The Austrian injection molding equipment firm ENGEL's booth processes recycled PET. This is accomplished with an ENGEL e-speed injection molding machine and a newly developed, extremely powerful injection unit.
Key Segments of Plastic Processing Equipment Industry Research
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By Type :
- Injection Molding
- Blow Molding
- Compression Molding
- Extrusion Molding
- Rotation Molding
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By End Use :
- Packaging
- Construction
- Automotive
- Electronics & Electricals
- Agriculture
- Consumer Goods
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By Plastic Type :
- Polypropylene
- Polyethylene
- Polyurethane
- Polyvinyl Chloride
- Polystyrene
- Polyethylene Terephthalate
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By Region :
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
- FAQs -
How much is the plastic processing equipment market worth in 2023?
The global plastic processing equipment market is valued at US$ 44.09 billion in 2023.
What is the forecasted growth rate for the demand for plastic processing equipment?
Worldwide demand for plastic processing machinery is set to increase at a CAGR of 4.9% from 2023 to 2033.
What is the sales outlook for plastic processing equipment for 2033?
Global sales of plastic processing equipment are set to reach US$ 4.52 billion by 2033.
Who are the leading manufacturers of plastic processing equipment?
Husky Technologies, SACMI Group, and ARBURG are key manufacturers of plastic processing machines.