The global plastic processing machinery market is expected to reach USD 43.7 billion by 2025, according to a new report by Grand View Research, Inc. The shift in trend towards mechanized packaging for increased efficiency and output is expected to drive demand.
Plastics exhibit superior properties such as flexibility, light-weight, low density, improved barrier resistance, durability, insulation, energy-saving, enhanced weathering, and aesthetic appeal (multitude of colors and metalized finishes). These factors have widened the application scope of processing machinery.
Advancements in molding technology have led to the development of complex components such as joints, structural components, brake components, housing units, fuel tanks, suspensions and engine frames.
Introduction of favorable policies by the governments in emerging economies, including China and India, to encourage foreign direct investment and facilitate closer integration with other economies is expected to propel demand. Major automotive OEMs are increasingly incorporating plastic parts and components to reduce gross vehicle weight and subsequently improve the performance and fuel efficiency.
Stringent regulations regarding depletion and recyclability of conventional materials like metal and wood are anticipated to drive greater plastics demand from construction industry in insulation, pipes, cables, floorings, windows and storage tanks among others.
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Further key findings from the report suggest:
The global plastic processing machinery demand exceeded 2,700 thousand units in 2016 and is expected to grow at a CAGR of 5.7% from 2017 to 2025
Extrusion technologies are used for converting the materials from solid to liquid and then reconstitute the same to a finished product. This technology has gained tremendous popularity owing to low cost, better flexibility, and post-extrusion manipulations
Asia Pacific is expected to dominate the regional segment with an estimated CAGR of around 7.4% in terms of volume from 2017 to 2025
The industry has witnessed various improvements in the major technologies including injection molding, blow molding and extrusion.
Some of the recent developments in injection molding method include dual-shot injection molding, mono-sandwich, water injection technique (WIT) and gas injection technique (GIT) among others.
Major participants include The Japan Steel Works, Ltd. (JSW), Arburg, Husky Injection Molding Systems, Sumitomo Heavy Industries, Ltd., Persimmon Technologies Corporation, Milacron Holdings Corporation and Haitian International Holdings Limited and Chen Hsong Holdings Limited
Chen Hsong Group announced plans of venturing into highly lucrative Indian plastics industry. In India, the company has announced to open a new facility to assemble processing machines using parts made in the company’s China facilities
Grand View Research has segmented the global plastic processing machinery market on the basis of product, and region:
Product Outlook (Volume, Thousand Units; Revenue, USD Million, 2014 - 2025)
Building & Construction
Building & Construction
Regional Outlook (Volume, Thousand Units; Revenue, USD Million, 2014 - 2025)
Central & South America
Middle East & Africa
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