MRFR Year End Sale
Plastic Processing Machinery Market Research Report—Global Forecast till 2028

Plastic Processing Machinery Market Research Report: Information by Product Type (Injection Molding Machinery, Blow Molding Machinery, Compression Molding Machinery, Extrusion Molding Machinery, and Rotational Molding Machinery), End Use (Packaging Industry, Construction Industry, Automotive Industry, Electronic, and Electrical Industry and Agriculture Industry), Plastic Type (Polypropylene (PP), Polyethylene (PE), Polyurethane (PUR), Polyvinyl Chloride (PVC), Polyethylene Terephthalate (PET) and Polystyrene (PS)), and Region (North America

ID: MRFR/IA - E/8911-CR | November 2022 | Region: Global | 110 Pages         

Plastic Processing Machinery Market

The Global Plastic Processing Machinery Market is projected to register a CAGR of 4.48% and reach a value of USD 62.20 billion by 2028

Segmentation

By Product Type Injection Molding Machinery Blow Molding Machinery Compression Molding Machinery Extrusion Molding Machinery and Rotational Molding Machinery
By End-Use Packaging Industry Construction Industry Automotive Industry Electronic and Electrical Industry Agriculture Industry Others
By Plastic Type Polypropylene (PP) Polyethylene (PE) Polyurethane (PUR) Polyvinyl Chloride (PVC) Polyethylene Terephthalate (PET) Polystyrene (PS)

Key Players

  • Brown Machine Group (US)
  • Haitian International Holdings Limited (China)
  • Milacron (US)
  • ENGEL AUSTRIA GmbH (Austria)
  • Husky Injection Molding Systems Ltd (Canada)
  • Lyle Industries (US)
  • ARBURG GmbH (Germany)
  • Cannon S.p.A. (Italy)
  • Cosmos Machinery Enterprises Limited (Hong Kong)
  • Sumitomo Heavy Industries (Japan)

Drivers

  • Require high-performance components that consume plastic
  • Governs the safekeeping of products in different categories
  • Increased demand for plastics from the packaging industry
  • Medical industry also holds a huge demand for plastic processing machinery
Speak to Analyst Request a Free Sample

The Global Plastic Processing Machinery Market is projected to register a CAGR of 4.48% and reach a value of USD 62.20 billion by 2028.


Plastic Processing Machinery Market Overview


Plastic molding machinery, also known as plastic primary processing machinery, is used for the molding of plastic semi-products or products, including compression molding machines, injection molding machines, extruders, blow molding machines, calenders, rotational molding machines, foaming machines, etc. Growing demand from the food & beverage industry and the growing use of plastic in the medical industry are the major factors supporting the growth of the global plastic processing machinery market. The medical industry also holds a huge demand for plastic processing machinery because plastics are used to produce prosthetic tools and artificial limbs. However, stringent regulations for plastic usage may hamper the growth of the market


COVID-19 Impact Analysis


The outbreak of COVID-19 has resulted in lockdown across regions, border restrictions, and breakdown of transportation networks. The economic uncertainty owing to the COVID-19 outbreak is much higher than past outbreaks such as the severe acute respiratory syndrome (SARS), avian flu, swine flu, bird flu, and Ebola, owing to the escalating number of infected people and the uncertainty about the end of the crisis.


Due to the outbreak, there was a spike in demand for essential goods such as sanitizers and masks, with household essentials such as toilet paper and bread being stocked up by customers. Most of the customer's budget was shifted to essential goods, and a major downfall in non-essential businesses was observed. As more cities went into lockdown, non-essential businesses were ordered to remain closed during the first half of the pandemic. Plastic processing machinery being a non-essential product, the demand for the same was affected noticeably. The COVID-19 pandemic has severely impacted the border restrictions and government orders for lockdown, forcing people to stay home. Schools, colleges, and institutions were shut down, and corporates across the globe observed work from home. These factors negatively impacted the sales of plastic processing machinery during the pandemic. However, with the situation getting back to normal, the demand for plastic processing machinery is expected to increase gradually.


Plastic Processing Machinery Market Dynamics


The global plastic processing machinery market is expected to register a CAGR of 4.48% during the forecast period. The growth of the market is driven by increased demand for plastics from the packaging industry. The need for plastics is generated by the high consumption of packaged foods, thereby fueling demand for the global market for plastic processing machinery. The medical industry also holds a huge demand for plastic processing machinery because plastics are used to produce prosthetic tools and artificial limbs. However, stringent regulations for plastic usage may hamper the growth of the market.


Drivers:



  • Roust plastic demand in healthcare sector amid COVID-19


In the wake of the coronavirus pandemic, various industries around the world have seen fundamental changes in their supply chains, consumer behavior, and ways to market due to temporary business closures and other restrictions to contain the virus. These factors led to adverse effects on many industrial processes, including the production of plastic processing equipment. In 2020, sales and production of plastics in major countries like North America saw significant increases despite unprecedented health and economic challenges. Plastic materials have also gained wide acceptance for the manufacture of hospital equipment and personal protective equipment, thus playing an important role in containing the spread of the virus and thus expanding the prospects of the medical device industry for the foreseeable future.


Restraint:



  • Stringent regulations for plastic usage


Regulations on the use of products are likely to affect the growth rate of the market. In response to growing concerns about the environmental damage caused by polymers, strict government regulations and other policies have emerged. To reduce the pollution caused by the use of plastic, many manufacturers and governments have scrambled to introduce greener, plastic-free alternatives. For example, in 2017 the United Nations Environment Program (UNEP) launched a Clean Seas campaign in more than 50, countries, urging governments to enforce policies to reduce plastic, and encourage industry to minimize packaging made from polymers and their products to reform. In addition, many countries, including India, have committed to phasing out single-use polymers by 2022. Additionally, in March 2022, at the United Nations Environment Assembly in Nairobi, heads of state, environment ministers, and other delegates from 175 countries supported a landmark resolution to eliminate plastic waste and conclude an International Agreement, to be legally binding by the end of 2024.


Opportunities:



Product demand is increasing in widespread industries such as Food & Beverage, Consumer Goods, Automotive, and Electrical & Electronics. The growing demand for packaging material from the food and beverage industry is driving product consumption worldwide. According to the British Plastic Federation (BPF), over 70% of the soft drinks in the global market, are being packaged in PET plastic bottles, while, only 30% of them get packed across other variety of packaging materials, such as glass bottles, metal cans, and paper-based cartons. Food manufacturers prefer packaging that minimizes food quality degradation and prevents contamination. Plastic's ability to act as a barrier between food products and the outside environment is driving demand. Also, the plastic's ability to resist physical stress and provide high durability increases its use in sports, fashion, polymer clay, and toy making. In addition, they are easy to mold and offer the flexibility to create containers of any shape and size. In the textile sector, its use is increasing due to its high elasticity, durability, and improved visual attractiveness. In addition, the rigid nature of polymers makes them suitable for packaging automotive and electronic parts. Increasing applications in the food and beverage, textile, electrical and electronics, automotive, and consumer goods industries are fueling the growth of the plastics industry. Such trends will augment the demand for the plastic processing machinery market.


Plastic Processing Machinery Market Segment Overview


By Product Type


Based on Product Type, the global plastic processing machinery market has been segmented into the injection molding machine, blow molding machine, compression molding, machine, extrusion molding machine, and Others. The extrusion molding machinery segment accounted for the largest market share of 33.16% in 2020 whereas the rotational molding machinery is projected to exhibit the highest CAGR of 4.48% during the review period


By End Use


Based on End Use, the global plastic processing machinery market has been segmented into the packaging industry, construction industry automotive industry, and electronic & electrical industry. The packaging industry segment accounted for the largest market share of 40.50% in 2020 whereas the Other segment is projected to register the highest CAGR of 4.73% during the review period.


By Plastic Type


Based on plastic-type, the global plastic processing machinery market has been segmented into polypropylene, polyethylene, polyurethane, polyvinyl chloride, polyethylene terephthalate, and polystyrene. The polyethylene segment accounted for the largest market share of 30.30% in 2020 whereas the polyurethane segment will exhibit the highest CAGR of 4.56% during the review period


Global Plastic Processing Machinery Market Share, by Region, 2020 (%)
Global Plastic Processing Machinery Market Share, by Region, 2020 (%)
Sources: MRFR Analysis


Plastic Processing Machinery Market Regional Analysis


By region, the Global Plastic Processing Machinery Market has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific accounted for the largest market share of 38.17% in 2020. North America was the second-largest market in 2020 and Europe is expected to register the highest CAGR of 4.66% during the forecast period.


Asia-Pacific


Rapid growth in the construction and manufacturing in countries such as China, and India is expected to increase the demand for plastic processing machinery in the coming years. Moreover, the region is home to one of the largest manufacturing industries for automotive, electronics, and others, globally. China is one of the leading markets in the Asia-Pacific. The government in China supports and encourages industrial and construction development. This helped the recovery of the commercial housing market in the country.


Additionally, Asia-Pacific is one of the most attractive markets for agricultural equipment as there is the availability of agricultural fields, especially in India, China, Vietnam, and Indonesia. The government support, growing standardization efforts, and convergence of technologies, are the major factors driving the growth of the market. Additionally, the country is also witnessing a growth in the automotive industry, which is further projected to drive the market.


North America


North America plastic processing machinery market accounted for a significant market share in the global market. North America is one of the leading suppliers in the packaging automation market. The growth in this region is attributed to factors such as the e-commerce culture and the packaged food industry in North America. The region is mature as far as investment in automotive industry is concerned. The US is a major contributor in the regional plastic processing machinery market, owing to the increase in the development of commercial and residential infrastructures in the country, which has led to increased demand for plastic processing machinery. Thus, the plastic processing machinery market in the US is projected to witness a significant growth over the forecast period


Plastic Processing Machinery Market Competitive Landscape


The market comprises tier-1, tier-2, and local players. The tier-1 and tier-2 players have a global reach and diverse product portfolios. Prominent players in the Global Plastic Processing Machinery Market include Haitian International Holdings Limited (China), Hillen Brand Inc. (US), Engel Austria GmBH (Austria), Plantinum Equity, LLC (US), Arburg GmBH Co KG (Germany), Cosmos Machinery Enterprises Ltd (China), Sumitomo Heavy Industries, Ltd (Japan), Ningbo Haida Plastic Machinery Co., Ltd (China), Graham Engineering Ltd (US) and Davis Standard (US).


Recent Developments


Few developments that occurred in recent times influencing the market growth of gardening tools are listed below:



  • In August 2021, T. Sumitomo Heavy Industries, Ltd launched double-shot injection molding machine "SE400HS-CI". This machine improve the productivity,work efficiency, and capability. This product launched strengthen company product portfolio.

  • In March 2021, Milacron (US) a Hillenbrand subsidiary launched the FANUC Roboshot ALPHA-SiB series in North America. The ALPHA-SiB series includes features such as a higher resolution/performance PANEL iH control and new electrical standards.This new product launch expands the company product portfolio in the North America region.


Scope of the Report


Global Plastic Processing Machinery Market, by Product Type



  • Injection Molding Machinery

  • Blow Molding Machinery

  • Compression Molding Machinery

  • Extrusion Molding Machinery

  • Rotational Molding Machinery


Global Plastic Processing Machinery Market, By End User



  • Packaging Industry

  • Construction Industry

  • Automotive Industry

  • Electronic and Electrical Industry

  • Agriculture Industry

  • Others


Global Plastic Processing Machinery Market, by Plastic Type



  • Polypropylene (PP)

  • Polyethylene (PE)

  • Polyurethane (PUR)

  • Polyvinyl Chloride (PVC)

  • Polyethylene Terephthalate (PET)

  • Polystyrene (PS)

  • Others


Global Plastic Processing Machinery Market, by Region



  • North America

    • US

    • Canada

    • Mexico



  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Rest of Europe



  • Asia-Pacific

    • China

    • India

    • Japan

    • Australia & New Zealand

    • Rest of Asia-Pacific



  • Rest of the World

    • South America

    • Middle East

    • Africa




Intended Audience



  • Packaging materials Manufacturers

  • Construction Industry

  • Automotive Manufacturers

  • Electronic and Electrical Industry

  • Agribusiness Firms

  • Food and Beverages Manufacturers

  • Retailers and Wholesalers

  • Government policy makers and Investors



Report Scope:

Report Attribute/Metric Details
  Market Size   USD 62.20 billion
  CAGR   4.48%
  Base Year   2019
  Forecast Period   2020-2028
  Historical Data   2018
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Product Type, End-User, Region
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Brown Machine Group (US), Haitian International Holdings Limited (China), Milacron (US), ENGEL AUSTRIA GmbH (Austria), Husky Injection Molding Systems Ltd (Canada), Lyle Industries (US), ARBURG GmbH (Germany), Cannon S.p.A. (Italy), Cosmos Machinery Enterprises Limited (Hong Kong), and Sumitomo Heavy Industries (Japan)
  Key Market Opportunities

  • Require high-performance components that consume plastic
  • Governs the safekeeping of products in different categories
  •   Key Market Drivers

  • Increased demand for plastics from the packaging industry
  • Medical industry also holds a huge demand for plastic processing machinery


  • Speak to Analyst Ask for Customization

    Frequently Asked Questions (FAQ) :

    High consumption of packaged foods and the spurring rise in economy are major tailwinds pushing the growth of the global plastic processing machinery market.

    The Polypropylene (PP) segment accounts for the leading type segment in the global plastic processing machinery market.

    The medical segment accounts for the leading end-use segment in the global plastic processing machinery market.

    Brown Machine Group (US), Haitian International Holdings Limited (China), Milacron (US), ENGEL AUSTRIA GmbH (Austria), Husky Injection Molding Systems Ltd (Canada), Lyle Industries (US), ARBURG GmbH (Germany), Cannon S.p.A. (Italy), Cosmos Machinery Enterprises Limited (Hong Kong), and Sumitomo Heavy Industries (Japan), are some of the top players operating in the global plastic processing machinery market.

    Asia Pacific is expected to hold the highest market share in the global plastic processing machinery market.