Plastic Processing Machinery Market worth USD 42.5 billion by 2027

The Market Statsville Group (MSG) publishes the new report on the "Plastic Processing Machinery Market by Type (Blow Molding Machinery, Injection Molding Machinery, Extrusion Machinery, Thermoforming Machinery, 3D Plastic Printers, and Other Types), by End-Users (Packaging, Consumer Products, Construction, Automotive, and Other End-user Industries), by Region – Global Share and Forecast to 2027". The global plastic processing machinery market size is projected to register a CAGR of 5.2% and is estimated to grow USD 42.5 billion from USD 31.4 billion in 2020. With the growing push for recycling and environmental concerns, equipment vendors are equipping machines to process large amounts of Post-Consumer Recycle (PCR) or biobased materials. Vendors such as, Arburg, Engel, KraussMaffei, and Wilmington Machinery are offering equipment that can handle large amounts of regrind or PCR, in some cases, through foaming or sandwich molding. The increasing modernization of plastics processing plants in developing nations is anticipated to replace injection molding machinery and other equipment. The growth is also augmented by technological developments that drive down the equipment cost and increase the affordability of equipment in price-sensitive markets.

Global Plastic Processing Machinery Market Segmentation

The plastic processing machinery market has been segmented into type, end-users, and region.

• By Type (Blow Molding Machinery, Injection Molding Machinery, Extrusion Machinery, Thermoforming Machinery, 3D Plastic Printers, and Other Types)
• By End-Users (Packaging, Consumer Products, Construction, Automotive, and Other End-user Industries)
• By Region (US, Canada, Mexico, UK, Germany, France, Italy, Spain, China, Japan, India, South Korea, Southeast Asia, Australia, Saudi Arabia, UAE, South Africa, Qatar, Nigeria, Israel, Brazil, Argentina, Peru)

Packaging is estimated to hold the largest market share during the forecast period by end-users

The global plastic processing machinery market is segmented into packaging, consumer products, construction, automotive, and other end-user industries based on end-users. The packaging segment generated the highest revenue of  38.7% of the total global plastic processing machinery market in 2020, and it is expected to register a CAGR of 5.8% from 2021 to 2027. The packaging industry is integral to pharmaceuticals, FMCG, food, and many segments for the use of plastics that fall under the purview of the Essential Services Maintenance Act. Many packaging plants and food and pharmaceutical plants are operational worldwide. Moreover, the lockdown has resulted in short supply, increased cost of acquisition of raw materials, lack of workforce, transport restrictions, and more.

Various factors have catalyzed innovations in labeling machines. With the growing awareness of plastic's hazardous effects on the environment, companies increase their research to remove all plastic from their label product packaging. Packaging companies are increasing their production capacities to manufacture coffee capsule packaging machines. They aim to transform the operational procedures by introducing virtual operations in the machines. Moreover, multilane sachet packaging systems are growing popular in plastic processing machinery.

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The Asia Pacific accounts for the largest market share in the plastic processing machinery market 2020

Region-wise, the global plastic processing machinery market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. The Asia Pacific held the largest market share of 34.8% in the global plastic processing machinery market in 2020, and this dominance was expected to continue throughout the forecast period. As an emerging economy in the Asia-Pacific region, China is witnessing a rise in manufacturing activities, which require high-performance components that consume plastic in various end-user industries.

India is another emerging economy in the Asia-Pacific region, and it is witnessing an exponential rise in the number of manufacturing activities. The growth of manufacturing is anticipated to drive the demand for high-performance components that consume plastic in various end-user industries, such as automobiles, dairy, and beverages. Further, the introduction of new products, such as flavored and UHT milk, milk mixed with fruits, and special dietary products containing high protein, low fat, and low added sugar, has increased the usage of plastics. These products are sold mostly in aseptic PET packaging and Tetra Pak Pak, using Tetra Pak Processing Systems (TPPS), expected to drive the market.

This research report includes a study on the development and marketing strategies, along with a study on the product portfolios and winning strategies of the leading companies operating in the plastic processing machinery market. Some of the major companies in the global market of plastic processing machinery are Husky Injection Molding Systems Ltd, Milacron LLC (Hillenbrand Inc.), Gurucharan Industries, Graham Engineering Corporation, Arburg GmbH + Co KG, Sumitomo Heavy Industries, Engel Austria GmbH, Haitian International Holdings Limited, The Japan Steel Works Ltd, Brown Machine Group, KraussMaffei Group (ChemChina), and Kautex Maschinenbau GmbH.

Browse complete report: https://www.marketstatsville.com/plastic-processing-machinery-market

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