Plastic Processing Machinery Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI2705
Plastic Processing Machinery Market size may witness steady gains on account of rising application in mechanized packaging for food & beverage and electronics industries. These products exhibit desirable properties including light weight, insulation, toxin resistance, high durability, weathering resistance, aesthetic qualities and flexibility which may enhance product demand.
Rising demand for effective packaging in ready-to-eat, baked products & breakfast cereals, may enhance plastic processing machinery market demand. Global bakery product market size may surpass USD 525 billion till 2024, pertaining to rising demand for convenience food, hectic lifestyles and changing food preferences which will further enhance the plastic processing machinery market size.
Government regulations to reduce vehicular emissions are influencing automotive manufacturers to use lighter components to reduce the gross weight of automobiles to enhance their performance and fuel efficiency, therefore stimulating product growth. Global passenger car sales reached 80 million in 2017, indicating massive growth prospects for plastic processing machinery market.
In the construction industry, plastic components are rapidly replacing traditional materials which includes wood and metal, in cables, insulations, floorings, storage tanks and windows thus having a positive impact on plastic processing machinery market. Global construction industry may surpass USD 15 trillion in the future owing to rising industrialization and economic resurgence, which presents ample growth opportunities for product market.
These machineries convert resin and crude oil powders, pellets, grains, sheets or fluids into differently-shaped components. These parts are then converted into final products by auxiliary operations such as adhesive bonding, welding, surface decoration and machining.
The machineries application from 3D printing is expected to witness strong growth owing to increasing applications in product manufacturing. Plastic processing machineries may witness rising demand from educational, dental and medical industries. Global artificial limbs market may expect gains at over 6% reaching the total value at about USD 2,900 million in the forecast period on account of rising incidence of osteoarthritis and vascular disease, thus stimulating growth of plastic processing machinery market.
These machineries are of different types including injection molding, extrusion molding, rotational molding and blow molding technologies. Extrusion machines convert solid raw materials to liquid, which can be reconstituted into final products. This technology has gained popularity owing to its low cost, post-process manipulation and enhanced flexibility. Injection molding includes newer innovations such as water injection technique, gas injection technique, mono-sandwich and dual-shot injection molding which may accelerate plastic processing machinery market size on account of their high-quality yields and versatility.
Europe plastic processing machinery market size, led by Spain, France, U.K, Ireland, Belgium and Germany may grow significantly till 2024 owing to resurgence in the construction sector after recovery from the 2009 recessionary slump. Great Britain construction market size was approximately USD 220 billion in 2017 which may further stimulate the plastic processing machinery market demand.
North America, led by Mexico, Canada, and the U.S. plastic processing machinery market demand may grow steadily on account of growing consumer electronics & medical industries, low gas prices and continuous research & development efforts in the region. U.S. consumer electronics market size was valued at over USD 335 billion in 2017 and is expected to rise further owing to increasing product convergence and smartphone use, thereby promoting the industry size.
Asia Pacific, led by Japan, South Korea, Australia, Malaysia, India and China plastic processing machinery market size may show strong growth primarily owing to government efforts in emerging economies to increase foreign direct investment and integration with other economies. Strong growth in the automotive sector and increased construction expenditure for infrastructure upgradation could also boost plastic processing machinery demand in the region. Indian passenger & commercial vehicle market is witnessing significant growth, owing to rising industrialization, thus boosting product demand.
Stringent product regulations passed by EPA and FDA may create significant barriers for the market growth. However, ongoing efforts by regional manufacturers to develop alternative production technologies for enhancing sustainability may support plastic processing machinery market growth.
Global plastic processing machinery market share is highly competitive and significantly fragmented including key vendors such as Husky Injection Molding Systems, ARBURG, Milacron, Sumitomo Heavy Industries, Ltd., and Haitian International Holdings Ltd. Market participants are establishing new plants and enhancing production capacity of existing ones to deal with increasing growth opportunities in the food packaging segment.
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