New York, US, Oct. 28, 2022 (GLOBE NEWSWIRE) -- Plastic Processing Machinery Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), Plastic Processing Machinery Market Research Report: Information by Product Type, Plastic Type, End-Use, and Region- Forecast Till 2030, the global market for plastic processing machinery is likely to flourish substantially during the assessment era from 2022 to 2030 at a robust CAGR of approximately 5%.
Plastic Processing Machinery Market Competitive Analysis
The catalog for leading participants across the global Plastic Processing Machinery Market includes players such as:
- Brown Machine Group (US)
- Lyle Industries (US)
- Haitian International Holdings Limited (China)
- ARBURG GmbH (Germany)
- Milacron (US)
- Cannon S.p.A. (Italy)
- ENGEL AUSTRIA GmbH (Austria)
- Cosmos Machinery Enterprises Limited (Hong Kong)
- Husky Injection Molding Systems Ltd (Canada)
- Sumitomo Heavy Industries (Japan)
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Plastic processing machinery is used to transform several kinds of plastics into semi-finished plastic products. Some usually utilized plastic processing machines include blow molding, extrusion, rotational molding, vacuum forming, and plastic injection. They generate simple, elaborate designs while offering a preferred shape and size to the plastic through a rigid mold or frame. They are also used to produce fuel-efficient, low-weight, high-strength, and durable plastic components in several industry areas such as agriculture, electronics & electrical, packaging, automotive, and construction. The global market for plastic processing machinery has exhibited massive development in the last few years. The main parameter supporting the market's growth is the elevated demand for plastics from the packaging industry. The high consumption of packaged foods causes the requirement for plastics, therefore boosting demand for the global market for plastic processing machinery. The medical industry also secures a massive demand for plastic processing machinery because plastics generate artificial limbs and prosthetic tools.
Plastic Processing Machinery Market Report Scope:
| Report Metric | Details |
| Revenue forecast in 2030 | USD 42.44 Billion |
| Growth Rate | CAGR of 5% from 2022 to 2030 |
| Base Year | 2021 |
| Study Period | 2022-2030 |
| Key Market Opportunities | Governs the safekeeping of products in different categories |
| Key Market Drivers | Increased demand for plastics from the packaging industry |
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Plastic Processing Machinery Market USP Covered
Market Drivers
The global Plastic Processing Machinery Market has grown immensely in the last few years owing to the factors such as the development of global trade, increasing disposable income of consumers in developing countries, technological advancements, increasing demand for lightweight and durable plastic products, and growing demand from end-use industries.
Plastic Processing Machinery Market Restraints
On the other hand, the environmental impacts of these products are likely to restrict the market's growth.
COVID-19 Impact
The global Plastic Processing Machinery Market has experienced massive changes during the pandemic. The considerable disruptions in the supply chain networks have caused significant losses in revenues. On the other hand, with all the industrial activities returning to normal, the global market for plastic processing machinery is likely to grow substantially over the coming years.
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Plastic Processing Machinery Market Segment Analysis
Among all the types, the 3D plastic printers segment will likely secure the top position across the global market for plastic processing machinery over the review era. The capability to extend unlimited flexible design opportunities in terms of colors, shapes, and materials is believed to be the significant aspect supporting the segment's growth. A substantial decrease in labor costs due to 3D printing systems will likely boost the segment's growth over the coming years.
Among all the applications, the packaging sector is anticipated to hold the top position across the global market for plastic processing machinery over the coming years. the rapid growth of the industry across the globe, boosting the considerable scope for plastic compounds, is considered to be the main parameter supporting the segment's growth. These kinds of machinery are commonly used to process these materials for soft food, medical, paper, commercial, and industrial packaging applications. Several extrusion machines available across the industry are HDPE pipe extrusion lines, the multi-layer, air bubble sheet plants, PET recycling plants, blown film plants, and cast film lines, among others. Developments in packaging technologies and
Advancements following development in specifications for plastics in packaging applications are also anticipated to be a crucial determinant of the future. Automotive applications will likely experience the maximum growth rate for BMM over the coming years. Major players have developed BMM, which substantially lowers operating costs, ensures safe operation, reduces energy consumption, and generates higher-quality plastic components. Various components have been used using BMM to fulfill varied performance requirements.
Plastic Processing Machinery Market Regional Analysis
The global plastic processing machinery market is analyzed across five major regions: Asia-Pacific, Europe, Latin America, North America, and the Middle East & Africa.
According to research reports by MRFR, the Asia-Pacific region is predicted to secure the top position across the global market for plastic processing machinery over the review era. The massive rise in manufacturing activities needing high-performance components consuming plastic in different end-user industries is considered the main parameter is supporting the growth of the regional market. The region is believed to be the home to various fast-growing industries such as electronics, automotive, equipment manufacturing, and others providing growth opportunities for plastic processing machinery manufacturers. Additionally, the region is known for highly skilled labor at low cost coupled with sufficient support from the local governments, which are also predicted to catalyze the growth of the regional market over the coming years. the region has China as a leading growth contributor, given the massive local production.
The plastic processing machinery market for the North American region is anticipated to grow substantially over the coming years. the massive contribution of the retail industry governing the safekeeping of products in different categories is believed to be the primary aspect supporting the market's performance.
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The European regional Plastic Processing Machinery Market is anticipated to increase over the coming years. the main parameter boosting the regional market's growth is the presence of advanced infrastructure. Furthermore, the factors such as increased production levels, technological innovations to lower their processing times, skilled workforce, and R&D facilities are also likely to influence the growth of the regional market over the coming years.
The Central & South American regional market for plastic processing machinery is anticipated to grow substantially over the coming years. the growth of the segment is credited to the factors such as the growing number of applications of plastic processing machinery in healthcare and increasing penetration of the product.
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