the global plastic processing machinery market it is estimated that the size increases 42.5 billion USD by 2027 from 31.4 billion USD in 2020at a CAGR of 5.2% during the forecast period. Plastic molding processing technology has been widely used in the manufacture of various products, such as connectors, displays, mobile phones, 3C electronic products, auto parts, plastic optical lenses, application products biomedical, general daily necessities, etc. With the increasing diversification of product usage and variability of functional requirements, plastic molding processing technology is booming day by day.
Compared with other materials, such as wood, stone and metal, plastic has the advantages of low cost and strong plasticity. Therefore, it is widely used in economy and daily life. Plastics products and industry occupy an extremely important position on a global scale; plastic products have developed rapidly all over the world for many years. According to data from PlasticsEurope, global plastics production in 2018 was 359 million metric tons and has been growing steadily.
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Due to the changing demand for plastic products, the industry is experiencing an increasing demand for plastic processing equipment. Among all the techniques, plastic injection molding is the most widely used plastic forming technique with many industrial applications. Market demand for this technology continues to grow. Custom plastic injection molded parts offer the perfect solution for many industries striving to produce a high volume of high quality, cost effective parts.
Global Plastic Processing Machinery Market Dynamics
Drivers: The packaging industry has Increase in demand for plastics
The global demand for plastic packaging from industries such as consumer goods, electronics, food and beverage, and even industrial is increasing, owing to the advantages offered by plastic packaging, such as the ability to react with less product and keep items safe; additionally, the materials used can be rendered odorless, which helps protect the item from environmental conditions, and the product can be sealed for waterproofing. Other benefits are driving demand for plastic packaging.
Plastics are appreciated for their lightness. Even though plastics are used to package more than 50% of all European products, they only account for 17% of total packaging weight, according to Custom-Pak. According to research conducted by Custom-Pak on the effects of substituting plastics with alternatives (such as paper and cardboard, glass, steel, aluminum, textiles, rubber and cork), substitutes are 4.5 times heavier on average. The alternatives require significantly higher material output to produce the same style of packaging.
Constraints: Stricter government regulations for minimal use of plastics
Plastic pollution has become a global problem. Several types of research have reported on the negative effects of plastic on the environment. As a result, Europe has adopted restrictions to limit the use of plastics. Public awareness of the negative consequences of plastic use has increased dramatically over the past decade. Many government-sponsored public awareness campaigns and initiatives have improved public understanding. Thus, the consumption of plastic packaging has experienced a significant impact in recent years.
Consumers are now using other packaging materials that offer environmentally friendly properties. Due to its eco-friendliness and high recyclability, aluminum and glass are consumed at high rates in the region. As a result, customers are gradually turning away from plastic.
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The study categorizes the plastic processing machinery market on the basis of type and application regionally and globally.
By Outlook type (IncomeUSD million, 2017–2027)
- Injection molding machines
- Blow molding machines
- Extrusion machinery
- Thermoforming machines
- 3D plastic printers
- Other types
From end-user perspectives (IncomeUSD million, 2017–2027)
- consumer products
- Other end user industries
Outlook by region (IncomeUSD million, 2017–2027)
- North America (United States, Canada, Mexico)
- South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
- Europe (Germany, Italy, France, United Kingdom, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, Netherlands, Norway, Sweden, Denmark, Rest of Europe)
- Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, Philippines, Singapore, Australia and New Zealand, Rest of Asia Pacific)
- The Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa, North Africa, Rest of MEA)
By Type, Injection Molding Machines Segment is expected to account for the largest market share
Based on type, the global plastic processing machinery market is divided into injection molding machines, extrusion machines, thermoforming machines, blow molding machines, 3D plastic printers and other types.. In 2020, injection molding machines accounted for the largest market share, with 56.0% market share. Injection molding machines are widely used to produce plastic parts in large volumes. Since plastic polymers are the most common raw material used by injection molding machines, they are used to make various multi-dimensional and complex products with plastics. The increasing consumption of plastic bottles by bottling companies is expected to push companies to improve their production capacities to meet the growing demand. Manufacturers in the value chain have introduced state-of-the-art products to stay competitive in the market studied. For example, in July 2019, Yizumi-HPM Corp., a manufacturer of high-quality injection molding machines in the range of 65 to 4400 metric tons, announced the development of three new series of injection molding machines and the launch of Yizumi-HPM full line of linear robots.
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Asia Pacific represents the highest CAGR over the forecast period
On the basis of region, the global plastic processing machinery market has been segmented into North America, Asia–Pacific, Europe, South America, Middle East and Africa. Globally, Asia-Pacific is estimated to hold the highest CAGR of 5.6% in the global plastic processing machinery market during the forecast period. The region includes countries such as China, India, Japan, South Korea, Australia, Southeast Asia and Rest of Asia.–Peaceful. The growth of the region is due to the economic growth of emerging countries such as China, Indonesia, Malaysia and India.
The Middle East and Africa is the second fastest growing region with a CAGR of 5.2% during the forecast period, 2021-2027. To meet water demand, governments and businesses in the region have invested heavily in desalination and other projects to provide clean water. For example, Agthia Group, a leading food and beverage company in the United Arab Emirates, has signed an agreement to buy 100% of the shares of the water business of Delta Marketing Company, based in Saudi Arabia, producing Al Ain brand water. With such investment initiatives, the region is expected to boost the demand for plastic bottles in the region.
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Main market players
Arburg GmbH + Co KG, Sumitomo Heavy Industries, The Japan Steel Works Ltd, Husky Injection Molding Systems Ltd, Milacron LLC (Hillenbrand Inc.), Gurucharan Industries, Graham Engineering Corporation, Engel Austria GmbH, Haitian International Holdings Limited, Brown Machine Group, KraussMaffei Group (ChemChina) and Kautex Maschinenbau GmbH are some of the leading companies in the global plastic processing machinery market.