SAN FRANCISCO, Feb. 2, 2022 /PRNewswire/ — A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled “Plastics Processing Machinery – Global Market Trajectory & Analytics”. The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 17; Released: January 2022
Executive Pool: 2289
Companies: 254 – Players covered include Arburg GmbH & Co.; Battenfeld-Cincinnati Austria GmbH; BEKUM Maschinenfabriken GmbH; Brown Machine LLC; Bruckner Group GmbH; Davis-Standard, LLC; Engel Austria GmbH; FANUC Corporation; Fu Chun Shin Machinery Manufacture Co., Ltd.; GN Thermoforming; Haitian International Holdings Limited; Husky Injection Molding Systems Ltd.; Kautex Maschinenbau GmbH; KraussMaffei Technologies GmbH; Milacron LLC; NEGRI BOSSI SpA; Ningbo Haida Plastic Machinery Co., Ltd.; Nissei ASB Machine Co., Ltd.; Reifenhauser Group; SencorpWhite, Inc.; Sumitomo Heavy Industries Ltd.; Sumitomo (SHI) Demag Plastics Machinery GmbH; The Japan Steel Works, Ltd.; Shibaura Machine Co., Ltd. Ltd. and Others.
Coverage: All major geography and key segments
Segments: Product Segment (Injection Molding Machines, Blow Molding Machines, Extrusion Machines, Thermoforming Machines, and Other Product Segments)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.
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Global Plastics Processing Machinery Market to Reach US$24.9 Billion by the Year 2026
Plastic processing machinery is used in the processing of raw plastics and molding them into desired shape which involves diverse materials ranging from thermoplastics polyethylene and polypropylene to new age elastomers and composites. Rise in consumption of plastics coupled with the increasing availability of financing is expected to catalyze spending on capital equipment, thereby stimulating the growth of the global plastics processing machinery market over the long term. Trends such as growing demand for biodegradable and reinforced plastics is expected to drive market gains. The industry is also embracing the Industry 4.0 concept by employing digital equipment together with plastics production processes. The market for processing machinery is highly technology driven with molders always on the lookout for augmented features such as productivity, flexibility, energy efficiency, and bottom-line performance to reduce operating costs and produce high quality products. Recovery in downstream industries such as construction and auto parts will support growth in 2022. Furthermore, continued demand for medical plastics will also increase demand for plastics.
Amid the COVID-19 crisis, the global market for Plastics Processing Machinery estimated at US$19.5 Billion in the year 2020, is projected to reach a revised size of US$24.9 Billion by 2026, growing at a CAGR of 4% over the analysis period. Injection Molding Machines, one of the segments analyzed in the report, is projected to grow at a 3.4% CAGR to reach US$12.4 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Blow Molding Machines segment is readjusted to a revised 3.6% CAGR for the next 7-year period. This segment currently accounts for a 6.7% share of the global Plastics Processing Machinery market. Injection molding machines are expected to continue to hold the top position in the global plastics processing machinery market, primarily due to rising demand from industries like consumer essentials and healthcare along with increasing focus of automakers on launching new vehicle models. Blow molding and extrusion machinery segment continued to witness significant demand owing to the usage in the production of essential products such as PPEs, barrier plastics, plastic bottles for sanitizers and disinfectants, and syringes. The COVID-19 pandemic resulted in huge demand for blow molded medical products including syringes for injections, bottles for sanitizers, and bottles of cleaners among others during the initial days of the.
The US Market is Estimated at $3.7 Billion in 2021, While China is Forecast to Reach $7.6 Billion by 2026
The Plastics Processing Machinery market in the US is estimated at US$3.7 Billion in the year 2021. The country currently accounts for a 18.2% share in the global market. Chinathe world’s second largest economy, is forecast to reach an estimated market size of US$7.6 Billion in the year 2026 trailing a CAGR of 4.9% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.9% and 3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3% CAGR while Rest of European market (as defined in the study) will reach US$1.2 Billion by the end of the analysis period. Asia-Pacific has emerged into a significant market for plastics, driven by the strong economic growth of various countries in the region, especially China. Growth in the region is favored by the growing consumption of plastic in automobile, consumer, transportation, packaging and construction sectors. Reshoring of manufacturing processes is expected to drive gains in the developed markets such as the US and Western Europe.
Extrusion Machines Segment to Reach $5 Billion by 2026
Extrusion equipment segment is expected to record gains, benefiting from the growth in packaging and medical markets, as well as resurgent demand from the construction market in the post-recession scenario. Advancements in the extrusion technology are likely to bolt sales of more productive and higher priced machinery. In the global Extrusion Machines segment, USA, Canada, Japan, China and Europe will drive the 4.1% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$2.9 Billion in the year 2020 will reach a projected size of US$3.9 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, Indiaand South Koreathe market in Asia-Pacific is forecast to reach US$622.5 Million by the year 2026, while Latin America will expand at a 6.4% CAGR through the analysis period. More
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Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.
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SOURCE Global Industry Analysts, Inc.