Plastic Processing Machinery Market Size, Share & Trends Analysis Report By Product (Injection Molding Machine (IMM), Extrusion Machine, Blow Molding Machine (BMM), By Region, And Segment Forecasts, 2020 - 2025

Industry Insights

The global plastic processing machinery market was estimated at USD 26.52 in 2019 and is expected to expand at a compound annual growth rate (CAGR) of 5.7% from 2020 to 2025. The rapid rise in the production of plastic goods along with a healthier sales climate is anticipated to be a key factor driving industry growth.

The emerging economies in Asia Pacific particularly China and India have witnessed an exponential rise in manufacturing activities, which has further driven the demand for these high-performance components in various end-use industries. Plastics that are consumed in the manufacturing of almost every tangible goods are projected to gain traction regarding demand over the future, thus impacting the processing machinery industry as well.

Injection molding is widely used for processing plastic parts in large volumes. Companies are increasingly preferring this processing owing to numerous benefits including low scrap rates, low production cost, high efficiency, enhanced strength, and the ability to use multiple types simultaneously.

These machines are widely utilized in various automotive applications as well, increasingly being used to manufacture automotive components such as bumpers, interior panels, dashboards, electrical housing components, and exterior body panels. Increasing regulatory intervention to improve fuel efficiency and thereby cut down the carbon emissions in vehicles has been a major factor driving demand in automotive manufacturing.

The injection molding machinery industry has witnessed the development of numerous hybrid high-performance versions in the past few years owing to technological advancements in processing techniques. Furthermore, the brand consistency and part reliability offered by these machines have also proven to be conducive to growth.

Extrusion is widely being utilized to convert a wide range of polymers into finished products, including film, tubes, sheets, filaments, cords, coat wire, cable, rods, and profile shapes. Manufacturers prefer extrusion methods owing to its high production volumes, good compounding, efficient melting as well as cost-effectiveness. This method is also known as profile extrusion since it is used to make products with cross-sectional or liner profiles, such as hose, pipe, and fenestration products.

The BMM industry has witnessed an upsurge in demand in recent years owing to the growing popularity of these machines across the globe. The blow molding technology offers numerous advantages, such as, well suited to low and high production rates, cost-effective, excellent part performance under pressure, quick product revisions for increased flexibility, and one-piece construction. This technology is relatively cheaper than injection molding as well. Besides this, it also offers a significant rise in production capabilities while allowing for three-dimensional moldings.

Plastic Processing Machinery Market Trends

The rising importance of lightweight material in automotive industry is expected to boost use of plastic materials in its component manufacturing, which will drive the plastic processing machinery market growth. Automotive application segment accounts for a significant share of plastic processing machinery market. Plastic processing machine is used to make a wide range of vehicle components, including their exterior body panels, bumpers, spoilers, dashboards, and electrical housings.

Plastic processing machinery allows for the creation of plastic packaging for a variety of applications and in a variety of forms. It can be utilized to manufacture food and beverage containers, creatively designed body care packaging, and even packaging for household chemicals. Increasing consumption of packaging products in healthcare, cosmetics, personal care, and consumer goods industry is expected to boost the packaging industry market over the forecast period.

Rising population and improving economic conditions create high demand in consumer goods and food & beverage industries. This poses high competition for manufacturers, creating need for product differentiation with attractive packaging which results in high growth rate for complex, high-quality packaging products. These factors are expected to drive the plastic processing machinery market across the globe over the forecast period.

The plastic processing machinery includes injection molding machine, extrusion machine, blow molding machine, and compression molding. Injection molding is widely used in plastic processing it provides the major advantage of producing identical products in large volume. New injection molding processes including gas assisted injection molding, foam injection molding, co-injection molding, multiple component injection molding is creating high demand for injection molding machines for producing plastic products.

Extrusion machinery is majorly used to convert polymers into finished products, including tubes, film, sheets, cords, coat wire, filaments, rods, profile shapes, and cable. Manufacturers prefer extrusion machinery on account of its high production volumes, efficient melting, good compounding, and cost-effectiveness. Packaging, building & construction, consumer goods, and automotive are the major end users of extrusion machinery.

The plastic processing machinery market is highly competitive in nature owing to the presence of both multinational and regional manufacturers. The manufacturers of plastic processing machinery adopt several strategies, including acquisitions, mergers, joint ventures, new product developments, and geographical expansions, to enhance their market penetration and cater to the changing technological requirements from various end users such as automotive, consumer goods, packaging, and electronics, among others.

Application Insights

The rapidly widening scope of various plastic materials in transport, defense & aerospace, automotive, healthcare, furniture, and the automotive industry is anticipated to boost the machinery demand. Besides this, technological advancements such as polymer-electronics, organic light-emitting diodes, electro-optical & bio-electrical complements as well as low-cost chips and flexible solar cells have also paved new avenues for the industry in recent years.

The packaging sector which is booming at a tremendous rate is expected to provide huge scope for plastic compounds over the forecast period. These types of machinery are widely utilized to process these materials for industrial, commercial, paper, medical and, soft food packaging applications. 

Various extrusion machines available in the industry are HDPE pipe extrusion line, cast film line, blown film plants, PET recycling plants, air bubble sheet plant and the multi-layer is blown film plant among others. Advancements in packaging technologies and subsequent development in specifications for plastics in packaging applications are also anticipated to be a crucial determinant of the future.

Automotive applications are expected to witness the fastest growth rate for BMM over the forecast period. Major participants have developed BMM which significantly reduces the operating costs, reduces energy consumption, ensures safe operation, and also produces higher quality plastic components. Several grades of components have been developed using BMM over the past to meet diverse performance requirements.

Regional Insights

Asia Pacific accounted for the highest market share of 39.7% in terms of revenue in 2016. Asia Pacific is hub to several fast-growing industries including equipment manufacturing, automotive, electronics, and others, which offers growth opportunities for the plastic processing machinery manufacturers. In addition, Asia Pacific is characterized by highly skilled labor at low cost along with ample support from the local governments.

China is the world’s largest automobile market, in terms of both annual sales and manufacturing output, with local production to exceed 35 million vehicles by 2025, according to the International Trade Administration. Growing new developments of electric vehicles, a stricter limit on fuel consumption, and technological advancements are expected to fuel the demand for automotive. In China, rising automotive production and increasing demand for lightweight automotive components are expected to propel plastic processing machinery market growth.

The demand for plastic processing machines in Europe is expected to be driven by the presence of advanced infrastructure, R&D facilities, and skilled workforce in the region. In addition, companies are investing over technological innovations to decrease their processing times, and increase production levels, which is expected to augment growth of plastic processing machinery market over the forecast period.

The Central & South America plastic processing machinery market is expected to grow at an estimated CAGR of 8.8% over the forecast period. The region offers tremendous potential and opportunities in the field of plastic processing machinery on account of increasing penetration of the product in automotive and consumer goods industries. In addition, increasing number of applications of plastic processing machinery in healthcare and electronics industries is expected to boost market growth.

Plastic Processing Machinery Market Share Insights

The global plastic processing machinery market is characterized by high capital investment and the development of advanced technology machines. Key industry 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 among others.

The industry is highly fragmented in the light of rising demand for plastic in various end-use industries. New entrants are expected to increase the spending on the development of technically advanced products to compete with existing multinationals. 

Plastic Processing Machinery Market Report Scope 

Global Plastic Processing Machinery Market Segmentation

This report forecasts revenue growth at global, regional & country levels and provides an analysis of the industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global plastic processing machinery market on the basis of product & respective applications, and region.

• Product Outlook (Volume, Thousand Units; Revenue, USD Million, 2014 - 2025)

  • Injection Molding Machine (IMM)

    • Consumer Goods

    • Automotive

    • White Goods

    • Packaging

    • Others

  • Extrusion

    • Packaging

    • Building & Construction

    • Consumer Goods

    • Automotive

    • Others

  • Blow Molding Machine (BMM)

    • Packaging

    • Automotive

    • Medical

    • Others

  • Others

    • Packaging

    • Automotive

    • Building & Construction

    • Others

• Regional Outlook (Volume, Thousand Units; Revenue, USD Million, 2014 - 2025)

  • North America

    • The U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • France

    • The U.K.

  • Asia Pacific

    • China

    • India

    • Japan

  • Central & South America

    • Brazil

  • The Middle East & Africa

    • Saudi Arabia