The Global Market for Plastics Processing Machinery is Projected to Reach US$45.4 Billion by 2024

Resurgence in Key End-Use Markets & Rise in Investments in Industry 4.0 Technologies to Drive Gains in the Global Plastics Processing Machinery Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Plastics Processing Machinery market. The global market for Plastics Processing Machinery is projected to reach US$45.4 billion by 2024, driven by resurgence in key end-use markets and increasing demand for advanced high-quality machinery and improving affordability and access to such equipment in emerging markets.

Plastic processing machinery is used in the processing of raw plastics and molding them into desired shape which involves diverse materials ranging from thermoplastics polyethylene and polypropylene to new age elastomers and composites. The diversity extends to methods used for processing these plastics including injection molding, extruding, blow molding and others with each method demanding exclusivity in design and raw material processing. Besides resurgence in key end-use markets including packaging, construction, and automobiles, demand for plastics processing machinery is also driven by expanding use in applications such as sports, recreation, and medical devices sectors and development of high value technological plastics. New machinery advancements in terms of efficiency and energy savings and the growing need for replacement of old equipment is another factor supporting growth.

The industry continues to remain focused on advanced manufacturing technologies, characterized by advanced production processes, complex workflows and diffusion of electronic intelligence devices, and industrial robots. The industry is also witnessing growing demand for compact, easy-to-operate machines. Electric and electric-hydraulic hybrid machines are forecast to report strongest growth in the mid to long-term.  Future growth in the market will be driven by surging demand for smart factory solutions for digitization of the manufacturing industry. Digitalization enables faster and efficient processing by integrating functions such as molded part designing and construction with various options in mould engineering. Industry 4.0 allows processors to analyze real time data from production facility and draw actionable insights from the processes to improve productivity and efficiency.  Electro hydraulic machines that employ a combination of hydraulic pumps and servo motors or variable frequency motors, are gaining demand as they offer energy savings and also noise reduction. Injection Molding Machines are expected to continue to hold the top position in the global plastics processing machinery market, primarily due the diversity of end-applications of these products.

As stated by the new market research report on Plastics Processing Machinery Asia-Pacific represents the largest as well as the fastest growing market worldwide at CAGR of 7.1% over the analysis period. Growth in the market is led by improving investments by domestic plastics manufacturers on high value machinery and growing plastic consumption across packaging, construction, automotive and industrial sectors.

Major players in the market include Arburg GmbH + Co. KG, Battenfeld-Cincinnati Austria GmbH, BEKUM Maschinenfabriken GmbH, Brown Machine LLC, Engel Austria GmbH, FANUC Corporation, Fu Chun Shin Machinery Manufacture Co. Ltd., G.N. Plastics Company Limited, Graham Engineering Corporation, Haitian International Holdings Limited, Husky Injection Molding Systems Ltd, Kautex Maschinenbau GmbH, KraussMaffei Technologies GmbH, , Milacron LLC, Ningbo Haida Plastic Machinery Co. Ltd., Nissei ASB Machine Co. Ltd., Sidel, Sumitomo (SHI) Demag Plastics Machinery GmbH, Toshiba Machine Co. Ltd. among others.

The research report titled “Plastics Processing Machinery: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, technological trends, growth drivers, issues, challenges, and strategic industry activities of major companies worldwide. The report provides market estimates and projections for major geographic markets including the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), Latin America, and Rest of World. Product types analyzed in the report include Injection Molding Machines, Blow Molding Machines, Extrusion Machines, Thermoforming Machines, and Other Plastic Processing Machines.

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