Pulp Molding Machines Market Size Worth $913.6 Million By 2027

July 2020 | Report Format: Electronic (PDF)

Pulp Molding Machines Market Growth & Trends

The global pulp molding machine market size is expected to reach USD 913.6 million by 2027 registering a CAGR of 3.9%, according to a new report by Grand View Research, Inc. The growth of this market can be attributed to the increasing demand for sustainable disposables, especially in the food & beverage and electronics industries.

Molded pulp packaging products, such as trays, clamshells, bowls, and plates, are widely used in the food packaging industry. Rising awareness about the benefits of leading a healthy lifestyle and consuming organic foods, such as fruits, is anticipated to drive the demand for pulp molding machines over the forecast period.

Growing demand for Ready-to-Eat (RTE) meals, on-the-go snacks, and single-serve packs are expected to further benefit market growth. In addition, growing concerns about single-use plastics and increasing demand for sustainable packaging solutions from both consumers and foodservice operators are anticipated to have a positive impact on market growth.

Pulp molding machines are used in the manufacturing of a wide variety of packaging products, which have high demand from end-use industries, such as electronics, healthcare, food packaging, and food service. Moreover, in industrial space, molded pulp packaging products are primarily used for packaging faucets, plumbing fixtures, and door hinges, which is likely to drive the demand further.

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Pulp Molding Machines Market Report Highlights

The automatic machine was the leading segment and accounted for 46.3% of the total market share in 2019 owing to high flexibility and productivity and low maintenance costs of these machines
Rotary type machine segment is anticipated to register a CAGR of 4.0% over the forecast period owing to high productivity and low energy consumption and operating costs of these machines
The electronics end-use segment is estimated to register the highest CAGR of 5.4% from 2020 to 2027 on account of the increasing use of molded pulp products for the packaging of various electronic products, including mobile phones, computers, printers, and modems
Asia Pacific was the largest regional market in 2019 owing to increased use of disposable packaging solutions in emerging economies, such as China, India, and South Korea
Presence of local companies in the APAC region poses a substantial threat to the large-scale multinationals with a global presence, in terms of product quality and prices

Pulp Molding Machines Market Segmentation

Grand View Research has segmented the global pulp molding machines market on the basis of machine type, product type, application, end-use, and region:

Pulp Molding Machines Type Outlook (Revenue, USD Million, 2016 - 2027)