Pulp Molding Machines Market to exceed $590 million by 2026
Published Date: August 21, 2020 Authors: Kiran Pulidindi, Hemant Pandey
According to a new research report by Global Market Insights, Inc., the Pulp Molding Machines Market size is estimated to surpass USD 590 million by 2026. Strict environmental regulations to limit the use of plastic in food packaging will boost the product business during the forecast period.
The pulp molding machines market is expected to witness significant growth owing to growing adoption of eco-friendly, re-usable, and economical protective packaging solutions. The pulp molding machine is easy to use and offers extensive built-in-safety measures that transform it into easy-to-use equipment. Growing population, rising disposable income, and the proliferating e-commerce industry are further supporting industry expansion. Additionally, rapid industrialization in Asia Pacific is driving product demand.
Environmental concern and demand for sustainable packaging products will provide opportunity for market expansion
Rising environmental concerns owing to growing plastics waste and adoption of stringent regulations, such as ban of single use plastic, by several European countries for packaging applications are supporting pulp molding machines market growth. Several industries, such as food & beverage, automotive, healthcare, consumer goods, personal care, and others, are actively investing in the usage of sustainable packaging materials. Further, the integration of automation systems enabled machine manufacturers to increase machine yield up to 95% from 70%, thereby enhancing profitability of end-users.
Browse key industry insights spread across 300 pages with 260 market data tables & 24 figures & charts from the report, “Pulp Molding Machines Market By Product (Rotary, Reciprocating), By Machine Type (Automatic, Semi-Automatic, Manual), By Power (less than 1,500, 1,500 – 3,500, 3,500 – 5,500, Above 5,500), By End-user Industry (Food & Beverage, Electrical & Electronics, Automotive, Healthcare, Consumer Goods, Personal Care), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
The pulp molding machines market from reciprocating machine product is expected to generate over USD 170 million revenue by 2026. The growth is owing to rising farming and fruits demand across the globe. This type of machine is generally used for medium output requirement applications such as fruit trays, egg trays, and disposable medical care products such as bedpan, urinal pan, and others. Several industry participants offer wide ranges of applications with multiple certifications such as SGS Supplier Assessment Certificate, TUV Supplier Assessment Certificate, CE Certificate, and others.
The manual molded machine type is expected to showcase demand for around 280 machines by 2026. Manual machines are mainly used by small and medium-scale egg tray and fruit tray manufacturers. Manufacturers, such as Beston (Henan) Machinery Co., Ltd., offer manual paper tray molded machines with an output of around 1,000 to 1,500 units/hour. This type of machines is the least popular owing to lower production output.
1,500 – 3,500 units/hour power machines are expected to showcase the highest growth in the pulp molding machines market with over 3.5% CAGR through 2026. These machines are used for protective packaging of several end-users such as food & beverage, healthcare, personal care, among others. Additionally, expansion of new food & beverage production facilities in Europe and Asia Pacific is driving the product demand.
Rising automotive sales along with rising disposable income are driving product demand
Automotive sector expected to generate nearly around USD 40 million revenue by 2026. Pulp molding machines are used for packaging of several auto parts such as panels, headlights, gears, wheels, etc. The proliferating automotive industry across the globe coupled with the expansion plan of several automotive manufacturers, such as Daimler AG, Toyota, Ford, and Honda, is supporting the demand for paper pulp packaging products.
The Europe market is expected to grow by around 3.3% CAGR through 2026. Ongoing initiatives to lower the usage of single use plastic packaging solutions from food & beverage, automotive, consumer goods, and personal care will support the pulp molding machines market share over the study timeframe. Further, the presence of several industry participants and expansion of their production facilities are supporting the industry growth. For instance, in November 2018, Huhtamaki invested around USD 8.3 million in fiber packaging applications in Russia.
Some of the key participants involved in the pulp molding machines industry include ZH Moulded Pulp Co., Ltd., Brodrene Hartmann A/S, Huhtamäki Oyj, HGHY Pulp Molding Pack Co., Ltd., among others. Facility expansions, product upgrades, and distributor expansions are among key strategies adopted by players to enhance their competitiveness in the pulp molding machines market.
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