Plastic Processing Machinery Industry Data Book Covers Plastic Injection Molding Machine, Plastic Extrusion Machinery, and Plastic Blow Molding Machine Market
The global Plastic Processing Machinery Industry size generated over USD 21.13 billion in 2022 and is expected to grow at a significant CAGR over the forecast period.
Grand View Research’s plastic processing machinery industry data book is a collection of market sizing information & forecasts, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports and summary presentations on individual areas of research.
Plastic Injection Molding Machine Market Insights
The global plastic injection molding machine market size was estimated at USD 11.7 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 4.8% from 2023 to 2030. The adoption of injection molded components is anticipated to increase across a variety of industries, including automotive, electronics, consumer products, packaging, and others. Manufacturers are focusing on the development of plastic injection molding machines, which can bring down production costs, provide flexibility in production, reduce scrap, reduce maintenance, shorten production cycle time, and are efficient. New plastic injection molding processes such as foam injection molding, co-injection molding, gas-assisted injection molding, and multiple component injection molding are creating high demand for injection-molded materials. This technological advancement has propelled the use of plastic injection molding machines in various industries such as medical, electronics, construction, aerospace, and defense.
Electric plastic injection molding machines are highly efficient and require less start-up time and run-time compared to that of hydraulic injection molding machines. Electric plastic injection molding machines use 50% to 75% less energy on average than their hydraulic equivalents because they are tighter, faster, and cleaner, and have a repeatable process production equipment with little waste. Moreover, factors such as quiet operation, energy savings from 30% to 70%, less wastage of material, and low requirements of power are expected to boost the demand for electric injection molding machines.
Factors such as easy access to new and advanced technologies in the EV industry, availability of a highly skilled workforce, presence of advanced processing capabilities, and increased R&D initiatives have boosted the penetration of electric vehicles in the U.S. The favorable government regulations and initiatives in the form of tax rebates and subsidies have further fueled the demand for electric vehicles in the U.S. Increasing demand for plastic injection molded components in conventional and electric vehicles for various interior and exterior parts are expected to augment the plastic injection molding market growth in the U.S.
Growing demand for on-the-go packaged products owing to increasing purchasing power and busy lifestyle in the U.S. is expected to have a positive impact on the packaging industry growth in the country. A plastic injection molding machine is used for manufacturing various packaging products such as containers, bottles, caps & closures, and covers. Growth in the packaging industry coupled with the rising adoption of plastic injection molding machines for manufacturing packaging products is expected to drive market growth in the country.
Order your copy of the Free Sample of “Plastic Processing Machinery Industry Data Book - Plastic Injection Molding Machine, Plastic Extrusion Machinery, Plastic Blow Molding Machine Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030” Data Book, published by Grand View Research
Plastic Blow Molding Machine Market Insights
The global plastic blow molding machine market size was estimated at USD 2.97 billion in 2022 and is expected to grow at a compounded annual growth rate (CAGR) of 3.9% from 2023 to 2030. The medical industry's growing need for blow-molded plastic items and the growing significance of plastic recycling is predicted to boost market expansion throughout the projected period. Plastic blow molding machines are widely used for different applications such as concrete forms of all shapes and sizes, panels, barricades, and traffic markers in the building & construction industry. Industries such as construction, packaging, and automotive are the industries propelling the demand for plastic molding machines. Plastic blow molding machines are incorporating robotics, artificial intelligence (AI), and sensor technologies to increase productivity, decrease human error, and improve efficiency. Automation of plastic blow molding machines is anticipated to increase output capacity and reduce costs, contributing to the market's estimated revenue growth.
The demand for blow-molded plastics across the U.S. is majorly generated by the expanding automotive industry, on account of the popularity of electric vehicles and the rise in the number of construction activities. For instance, the U.S. witnessed a growth in electric car sales from 1.0 million in 2022 to 1.6 million in 2023. The rising demand for electric vehicles is expected to significantly boost the demand for blow-molded plastic products, thereby driving market growth.
Contrary to most industries, COVID-19 has positively impacted the market as demand for plastic blow molding machines surged in response to the growing demand for plastic packaging for sanitizers, cleaning supplies, and beverages like water. For instance, a Spanish supplier of plastics machinery claimed that in June 2020, production in the bottle and bottling sector was 100% more than typical.
The rising demand for plastic containers is driving the demand for plastic molds, which will ultimately help the industry in the U.S. to flourish. For instance, Meredith-Springfield Associates Inc. in August 2021 announced the expansion of its manufacturing facility by 5,000 square feet. The company also installed two extrusion blow molding machines and one injection stretch blow molding equipment.
The development of the market is anticipated to be aided by a focus on recycling plastics, offsetting the detrimental effects of the prohibition of single-use plastic on the blow molding industry. For instance, in November 2020, Austria implemented mandatory targets by making a beverage reuse quota of 25% by 2025 compulsory in their Waste Management Act. With this, it became the first European country to do so.
Go through the table of content of Plastic Processing Machinery Industry Data Book to get a better understanding of the Coverage & Scope of the study
Plastic Processing Machinery Industry Data Book Competitive Landscape
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 of various end-users such as automotive, consumer goods, packaging, and electronics, among others. Strategies adopted by the companies usually include product portfolio expansion, collection network expansion, and geographic network expansion.
Key players operating in the Plastic Processing Machinery Industry are:
- Arburg GmbH + Co KG
- Haitian International Holdings Limited
- Milacron
- Nissei Plastic Industrial Co., Limited
- Engel Austria GmbH
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