Meticulous Research® Unveils Plastic Processing Auxiliary Equipment Market Report
The renowned market research company Meticulous Research® has released an extensive report titled, ‘Plastic Processing Auxiliary Equipment Market by Type (Batch Blenders, Extrusion Controllers, Chillers, Granulators, Robots), Molding Technique (Injection, Blow), Sector (Automotive, Food & Beverage, Packaging, Construction) – Global Forecast to 2030.’
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Growth Forecast for the Market
According to the report, the plastic processing auxiliary equipment market is projected to reach $9 billion by 2030, growing at a CAGR of 3.5% from 2023 to 2030. This growth is primarily driven by increasing plastic demand across diverse industries and overall economic development that improves living standards. However, rising concerns about plastic pollution and initiatives to promote plastic reuse present challenges to market expansion. On the other hand, advancements in recycling technologies are likely to create new growth opportunities, although government actions to restrict single-use plastics may hinder progress. Additionally, trends toward sustainability and the incorporation of advanced technologies in plastic processing are reshaping the market landscape.
Equipment Type Market Segmentation
The report segments the plastic processing auxiliary equipment market into several categories, including blending equipment, extrusion equipment, conveying equipment, drying equipment, heat transfer equipment, material storage equipment, size reduction equipment, and robotic systems. The conveying equipment segment is expected to dominate the market in 2023, while blending equipment is forecasted to achieve the highest growth during the forecast period.
Molding Techniques Overview
The market is further segmented based on molding techniques, including injection, blow, extrusion, compression, and others. The injection technique is expected to hold the largest share of the market in 2023, while the blow technique is anticipated to grow at the highest CAGR.
Industry Segmentation
The market is categorized into sectors such as automotive, food & beverage, pharmaceuticals, plastic packaging, construction, healthcare, and more. In 2023, the plastic packaging segment is projected to take the lead, driven by strong demand from healthcare, pharmaceutical, and automotive sectors. Conversely, the construction sector is anticipated to witness the highest growth rate due to increased investments in smart city initiatives and the consequent demand for various plastic materials.
Regional Market Analysis
Geographically, the global market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific is expected to capture the largest market share in 2023, fueled by robust demand for plastics from automotive, healthcare, and construction industries. Rapid economic growth and rising disposable incomes in countries like China, India, and Indonesia are further driving the demand for plastic products, enhancing the need for plastic processing auxiliary equipment.
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Key Players:
The key players operating in the plastic processing auxiliary equipment market are Piovan Group (Italy), Bry-Air (Asia) Pvt. Ltd. (India), Shibaura Machine Co., Ltd. (Japan), Woywod Kunststoffmaschinen GmbH & Co. Vertriebs-KG (Germany), Moretto S.p.A. (Italy), WITTMANN Technology GmbH (WITTMANN Group) (Austria), Werner Koch Maschinentechnik GmbH (Germany), Absolute Haitian Corporation (U.S.), AIC Acquisition Company, LLC (U.S.), Milacron LLC (U.S.), Reynold India Private Limited (India), Guanxin Plastic Machinery Co., LTD (China), Vector Injection Ltd. (Canada), Maillefer (Finland), Rosendahl Nextrom GmbH (Austria), MATSUI MFG. CO., LTD. (Japan), Kawata Mfg. Co., Ltd., and motan holding GmbH (Germany).
Key questions answered in the report:
Which are the high-growth market segments in terms of type, molding technique, sector, and country?
What is the historical market for plastic processing auxiliary equipment across the globe?
What are the market forecasts and estimates for 2023–2030?
What are the major drivers, restraints, opportunities, challenges and trends in the global plastic processing auxiliary equipment market?
Who are the major players in the global plastic processing auxiliary equipment market, and what are their market shares?
Who are the major players in various countries, and what are their market shares?
How is the competitive landscape?
What are the recent developments in the global plastic processing auxiliary equipment market?
What are the different growth strategies adopted by the major players in the market?
What are the geographic trends and high-growth countries?
Who are the local emerging players in the global plastic processing auxiliary equipment market, and how do they compete with the other players?
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Plastic Processing Auxiliary Equipment Market Growth Forecast: Billion by 2030