Plastic Processing Machinery Market Size/Share Projected to Reach USD 36.03 Billion By 2032, With 5.2% CAGR: Polaris Market Research

NEW YORK, Dec. 18, 2023 /PRNewswire/ -- A latest research report [110+] pages with 360-Degree visibility, titled "Plastic Processing Machinery Market Share, Size, Trends, Industry Analysis Report, By Type (Injection Molding Machinery, Blow Molding Machinery, Extrusion Machinery, Others); By End Use; By Region, And Segment Forecasts, 2023 - 2032" published by Polaris Market Research in its research repository.

The global plastic processing machinery market size/share is predicted to grow from USD 21.79 billion in 2022 to USD 36.03 billion in 2032. It is anticipated to grow at a Compound Annual Growth Rate (CAGR) of 5.2% from 2023 to 2032, according to the latest report by Polaris Market Research.

What Is Plastic Processing Machinery? How Big is Plastic Processing Machinery Industry Size & Share?

• A Quick Review

Plastic processing can be elucidated as transforming the plastics raw components into semi finished products. These heavy plastics show up in resin, granules, pellets, powder, and fluids and are transformed into configured shapes and parts. Plastic materials may entail several additives that might impact their properties and processability. The rapidly rising demand for plastic processing machinery market can be attributed to the fact that processing technology has been utilized in the making of an assortment of high tech plastic commodities involving electronic products, mobile phones, auto parts, bio medical commodities, and everyday essentials. Technology assists warrant the operational needs are met escalating inventiveness and product usage.

The plastic processing machinery market growth can be attributed to The escalating importance of lightweight substances in the automotive industry is confident of a noteworthy influence on the usage of plastic substances in the making of vehicle parts. This movement is anticipated to push notable growth in the industry. These machines are used to generate a varied assemblage of vehicle parts ranging from external body panels to bumpers and spoilers, dashboards, and electrical housings. Thus, these machines sanction the automotive industry to employ complex and necessary parts of vehicles utilizing plastic materials.

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(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, Table of Contents, Graphical introduction of regional analysis, Top players in the market with their revenue analysis and our research methodology.)

Which is the Largest Plastic Processing Machinery in the World?

• The Japan Steel Works, Ltd. (JSW)
• Arburg
• Husky Injection Molding Systems
• Sumitomo Heavy Industries, Ltd.
• Persimmon Technologies Corporation
• Milacron Holdings Corporation
• Haitian International Holdings Limited
• ENGEL Austria GmbH
• Nissei Plastic Industrial Co., Ltd.
• Krauss-Maffei Corporation
• Alpha Marathon Film Extrusion Technologies Inc.

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Important Highlights from the Report

• Introduction of high tech technology in making commodities including electronic products mobile phones, auto parts, bio medical commodities, and everyday essentials is pushing the market growth.
• Noteworthy influence on the usage of plastic substances in the making of vehicle parts is driving market expansion.
• The plastic processing machinery market segmentation is primarily based on type, end-use, and region.
• APAC region has dominated the market with the largest share in 2022.

Market's Prime Determinants of Growth, Trends, and Opportunities

Escalation in packaging industry: The packaging industry is a prominent consumer of plastic processing machinery. The plastic processing machinery market size is expanding due to the growing demand for packaged goods, particularly in the food and beverage sector propels the requirement for progressive machinery for making of several packaging substances. This technology is adaptable, generating packages for food and beverages, creatively sketched body care products, and even vessels for household chemicals. Expected market growth is propelled by growing demand for packaging in areas such as healthcare, personal care, cosmetics, and consumer goods.

Upswing in the construction sector: The residential construction sector in the US is anticipated to encounter notable growth in the near future, especially propelled by the construction of single-family homes. The plastic processing machinery market sales are soaring as this upswing in construction attempts is generating an escalated demand for extruded products. These commodities necessary for several construction factors such as curtain walls, window frames, door frames, exterior cladding, roofing, canopies, space frame systems and arches are in high demand. The escalating requirement for extruded products within the construction industry is anticipated to influence the growth market affirmatively.  

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Trends and Opportunities

Uptick in digital technology: By espousing Industry 4.0, plastic manufacturers can improvise their functionalities, improvise efficacy, and generate inventive commodities. The combination of digital technologies permits for real-time observation, prophetic sustenance, and smart automation because of enhanced quality, decreased prices, and escalated sustainability. This digital transformation is modifying the plastic industry, rendering it extremely reactive, efficacious, and eco-friendly.

Segmental Analysis

• The Injection Molding Machinery Segment Witnessed an Upsurge

Based on type, the injection molding machinery segment witnessed an upsurge. The plastic processing machinery market demand is on the rise, as this can be attributed to the escalating automotive production sector and the escalating demand for lightweight automotive parts, which are pushing market expansion. Additionally, progression in injection molding machine technologies, such as Electrical Discharge Machining (EDM) & high-speed Computer Numerical Control (CNC) processes, have notably decreased lead times. This decrease has escalated the acquisition of injection molding machines within the automotive industry.

Injection molding machines are necessary for making a broad gamut of consumer goods involving personal hygiene products, housewares, toys, cosmetics, and comfort commodities. Lately, there has been a notable move apart from conventional substances such as glass, wood, and metal, with standard plastics replacing them.

• The Packaging Segment Dominated the Market

Based on end use, the packaging segment dominated the market. The plastic processing machinery market trends include the dependence on plastic processing machines. These machines play an important part in the making of packaging substances, vessels, and bottles. Within the packaging industry, plastic processing machines are vastly utilized for making commodities such as beverage bottles, food vessels, cosmetic packaging, and supple substances such as bags and films.

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Plastic Processing Machinery Market: Report Scope

Regional Insights

APAC: This region held the largest plastic processing machinery market share due to growing healthcare requirements, speedy industrialization in surfacing economies, and the growing need for plastic molds in electric vehicles. Further, the speedy proliferation of the automotive and packaging sector in the region is anticipated to push the demand more throughout the forecast period.

Latin America: This region will grow at the speediest rate in the near future due to it being a global hub for automotive production because of notable funding and central advancement projects. Brazil plays a notable role as it is a principal hub for automobile manufacturing, motivating the development of automobile functions throughout the region.

Browse the Detail Report "Plastic Processing Machinery Market Share, Size, Trends, Industry Analysis Report, By Type (Injection Molding Machinery, Blow Molding Machinery, Extrusion Machinery, Others); By End Use; By Region, And Segment Forecasts, 2023 - 2032" with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/plastic-processing-machinery-market                

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Key Questions Answered in the Report

• What is the current and expected plastic processing machinery market value?

Ans: The market was valued at USD 21.79 billion in 2022 and is expected to grow to USD 36.03 billion by 2032.

• At what CAGR is the market expected to grow during the forecast period?

Ans: The market is expected to grow at a CAGR of 5.2% during the forecast period.

• Which factors are driving the market growth?

Ans: Introduction of high tech technology in making commodities including electronic products mobile phones, auto parts, bio medical commodities, and everyday essentials is pushing the market growth.

• Which segment accounts for the largest plastic processing machinery market share?

Ans: The market is primarily segmented based on end use, type, and region.

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Polaris Market Research has segmented the plastic processing machinery market report based on type, end use, and region:

Plastic Processing Machinery, Type Outlook (Revenue - USD Billion, 2019 - 2032)

• Injection Molding Machinery
• Extrusion Machinery
• Blow Molding Machinery
• Others

Plastic Processing Machinery, End Use Outlook (Revenue - USD Billion, 2019 - 2032)

• Packaging
• Consumer Products
• Construction
• Automotive
• Others

Plastic Processing Machinery, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America
• U.S.
• Canada
• Europe
• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands
• Asia Pacific
• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia
• Latin America
• Argentina
• Brazil
• Mexico
• Middle East & Africa
• UAE
• Saudi Arabia
• Israel
• South Africa

About Polaris Market Research:

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.

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SOURCE Polaris Market Research

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