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.

For enquiries e-mail us at rsd@strategyr.com or info411@strategyr.com.
To connect with us, visit our LinkedIn page.

Global Industry Analysts, Inc. 6150 Hellyer Ave., San Jose CA 95138, USA, All Rights Reserved.

Comments

Post a Comment

Popular posts from this blog

The Global Market for Surfing is Projected to Reach US$9.5 Billion by 2022

Rise of Surfing as a Lifestyle Sport Among all Age Groups Drives the Global Surfing 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 Surfing market. The global market for Surfing is projected to reach US$9.5 billion by 2022 , driven by the growing interest in surfing both as a leisure and sporting activity, increased accessibility to surfing through surf parks and surf pools and technology innovations focused on developing sophisticated surf-wear and surf-gear.                               Surfing is a surface water sport where a participant riding a board (the surfboard) is carried away by a breaking wave. The surfing industry continues to evolve, driven by sustained efforts of surfing equipment makers, marketers and associations to make surfing much more accessible. Increased accessibility and affordability has drawn si
Read more

The Global Market for Private Tutoring Services is Forecast to Reach US$227 Billion by 2022

Intense Competition among Students and the Growing Need to Achieve Academic Excellence Drive the Global Private Tutoring 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 Private Tutoring market. The global market for Private Tutoring Services is forecast to reach US$227 billion by 2022 , driven by the need to keep pace with classroom teaching, improve overall competency and enhance knowledge and skill level. Education is considered the social ladder to achieve success in personal and professional life. Higher education is associated with increased opportunities in the labor market, high remunerations, and improved social standing. People are therefore investing heavily in children’s education, including private tutoring or private supplementary tutoring which is emerging as a major phenomenon in the global education system
Read more
Image
The global market for Material Handling Equipment is projected to reach US$190.3 billion by 2025, driven by the strong emphasis shed on production and operational efficiency and worker safety. The concept of “last mile” is widely popularized in supply chain management and transportation planning for its ability to increase customer satisfaction and profitability. Automation, optimization and delivery route planning are therefore vital strategies adopted by companies to improve their last mile performance. Of equal importance are the “first mile” operations involving indoor material handling on the plant floor. Raw material being the primary and most importance element in manufacturing needs to move through multiple stages of production and final packaging in a smooth and seamless manner to prevent logistical bottlenecks in production. Timely handling of materials is important to ensure that right materials in right quantities are delivered to the right locations at the right ti
Read more