New York, June 12, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Plastic Processing Machinery Global Market Report 2023" - https://www.reportlinker.com/p06466634/?utm_source=GNW
, Arburg GmbH & Co., Toshiba Machine Co. Ltd., Nissei Plastic Industrial Co. Ltd, Niigata Machine Techno Company Ltd., COSMO Machinery Co. Ltd., Wilmington Machinery Incorporated., Krauss-Maffei Corporation, Ningbo Haida Plastic Machinery Co. Ltd., and Shibaura Machine Co. LTD.
The global plastic processing machinery market is expected to grow from $35.21 billion in 2022 to $37.00 billion in 2023 at a compound annual growth rate (CAGR) of 5.10%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The plastic processing machinery market is expected to reach $45.93 billion in 2027 at a CAGR of 5.55%.
The plastic processing machinery market consists of sales of compression molding machinery, rotational molding machine, co-extrusion machines and thermo-compression molding machines.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Plastic processing machinery refers to machines and equipment used in the manufacturing and processing of plastic products. These machines are used to transform raw plastic materials into finished products that can be used in a wide range of applications.
North America was the largest region in the plastic processing machinery market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of plastic processing machinery are injection molding machinery, blow molding machinery, extrusion machinery, thermoforming machinery, 3d plastic printers, and others.Injection molding machinery refers to the equipment and machinery used in manufacturing plastic parts through injection molding, which involves melting plastic pellets or granules and putting them into a mold under high pressure.
It is used to produce a variety of products such as syringes, remote control casings, and common plastic items.The various types of plastics used are polypropylene (PP), polyethylene (PE), polyurethane (PUR), polyvinyl chloride (PVC), polyethylene terephthalate (PET), and polystyrene (PS).
The main end-users are packaging, consumer products, construction, automotive, and other end-user industries.
The growth in demand for plastic products is expected to propel the growth of the plastic processing machinery market going forward.Plastic products refer to finished items made from various organic compounds produced by the polymerization of plastic materials.
Plastic processing machinery is used to manufacture a wide range of plastic products, such as medical equipment, housewares, plastic containers, automotive parts, packaging materials, and consumer goods. For instance, in November 2022, according to the United Nations Conference on Trade and Development, a Switzerland-based intergovernmental organization, the global export of plastic goods accounted for around $1.2 trillion in 2021. The growth in the volume of plastic goods trade was around $369 million in 2021. Therefore, the growth in demand for plastic products is driving the growth of the plastic processing machinery market.
Technological advancements are a key trend gaining popularity in the plastic processing machinery market.Companies operating in the plastic processing machinery market are adopting new technologies to sustain their position in the market.
For instance, in August 2022, LS Mtron, a South Korea-based heavy machinery manufacturer, launched a smart AI-based injection molding system.This technology has two technical features- an AI molding assistant and smart weight control.
The AI molding assistant helps to reduce the stabilizing time in the initial molding steps and smart weight control enables the detection of any change in the weight of products.
In February 2022, Comar, LLC, a US-based manufacturer of innovative plastic solutions acquired Automatic Plastics Ltd., for an undisclosed amount. With this acquisition, Comar expanded its geographical footprint by strengthen its pharmaceutical and medical device packaging expertise. Automatic Plastics Ltd. is an Ireland-based company specializing in plastic injection molding machines.
The countries covered in the plastic processing machinery market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The plastic processing machinery market research report is one of a series of new reports that provides plastic processing machinery market statistics, including plastic processing machinery industry global market size, regional shares, competitors with a plastic processing machinery market share, detailed plastic processing machinery market segments, market trends and opportunities, and any further data you may need to thrive in the plastic processing machinery industry. This plastic processing machinery market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06466634/?utm_source=GNW
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