ID: MRFR/AM/8911-HCR | February 2021 | Region: Global | 100 pages
Plastic processing utilizes a huge amount of energy in order to heat raw materials and form them into products. Large quantities of energy and the removal of heat from the process to solidify the plastic are required in the process. This means that, in all segments of the plastics processing industry, the provision of a reliable and consistent source of cooling water is vital for fast and repeatable process times. As the market for plastics is growing, machines that can handle the raw materials as per the user needs have a high requirement. Plastics have superior characteristics such as flexibility, lightweight, low density, improved resistance to barriers, durability, insulation, energy-saving, improved weathering, and aesthetic appeal (various colors and metallic finishes). The application scope of processing machinery has been widened and the development of complex components such as joints, structural components, brake components, housing units, and fuel lids have led to advancements in plastic processing machinery.
For plastic processing machinery, there are mainly five steps to produce the final product, where the first step is raw material extraction. While in the next phase, molds are prepared according to the desired design of plastic products. The next step is called as the main step, or also known as the technical phase, which includes the mass production of components using specialized machines. Depending on what kind of methodology for assembling plastic is implemented. In the other phase, cooling and removal of plastic edges are conducted. In the final step, the finishing of parts takes place where solid components are painted, sprayed, and the final coating of the color is done.
Global Plastic Processing Machinery Market has been segmented by product type, end use, plastic type, and region. Based on product type, the global plastic processing machinery market can be segmented into injection molding machinery, blow molding machinery, compression molding machinery, extrusion molding machinery, and rotational molding machinery. The rotational molding machinery segment is anticipated to grow at a significant CAGR in the coming years. By end use, the global plastic processing machinery market has been split into packaging industry, construction industry, automotive industry, electronic and electrical industry, agricultural industry, and others. The packaging industry segment held a sizeable share and is anticipated to grow at a significant CAGR in the coming years. By plastic type, the plastic processing machinery market can be bifurcated into Polypropylene (PP), Polypropylene (PE), Polyurethane (PUR), Polyvinyl Chloride (PVC), Polyethylene Terephthalate (PET), Polystyrene (PS). The Polypropylene (PP) segment is anticipated to grow at a CAGR in the coming years.
Global Plastic Processing Machinery Market is anticipated to register a CAGR of 5% between 2020 and 2026.
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.
Based on region, the global plastic processing machinery market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. In Asia-Pacific, there is an exponential growth in the number of manufacturing activities that require high-performance components that consume plastic in different end-user industries. While North America has a large share of the retail industry, which governs the safekeeping of products in different categories, thus this region has one of the largest markets for plastic packaging.
|Market Size||2027: Significant Value|
|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||
|Key Market Drivers||