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The plastic processing machinery market share is expected to increase by USD 3.56 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 3.58%.
This plastic processing machinery market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers plastic processing machinery market segmentation by end-user (packaging, construction, automotive, and others), product (IMM, extrusion machine, BMM, and others), and geography (APAC, Europe, North America, South America, and Middle East and Africa). The plastic processing machinery market report also offers information on several market vendors, including Alpha Marathon Film Extrusion Technologies Inc., Aoki Technical Laboratory Inc., ARBURG GmbH Co KG, BEKUM Maschinenfabriken GmbH, Cannon Spa, Chen Hsong Holdings Ltd., Cosmos Machinery Enterprises Ltd., ENGEL AUSTRIA GmbH, Graham Engineering Corp., Gurucharan Industries, Haitian International Holdings Ltd., Hillenbrand Inc., Husky Technology, Kautex Maschinenbau GmbH, KraussMaffei Technologies GmbH, Negri Bossi Spa, Ningbo Haida Plastic Machinery Co. Ltd., Shibaura Machine Co. Ltd., Sumitomo Heavy Industries Ltd., and The Japan Steel Works Ltd. among others.
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Based on our research output, there has been a neutral impact on the market growth during and post-COVID-19 era. The increasing adoption of automated machines is notably driving the plastic processing machinery market growth, although factors such as the increased use of refurbished plastic extrusion machines may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the plastic processing machinery industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Plastic Processing Machinery Market Driver
One of the key factors driving the global plastic processing machinery market growth is the increasing adoption of automated machines. The increasing need to meet market demands for optimized flexibility and personalization in terms of product design and precision has increased the need to integrate automated machines in the process line. Robots are being used to enhance plastic processing. For instance, automated IMMs are equipped with robots that aid in the easy removal of manufactured plastic parts. In addition, automated IMMs have features such as efficient temperature control systems that support the rapid cooling of the product. Many vendors of IMMs and extrusion machinery are shifting their manufacturing activities to developing countries such as China, India, Mexico, Indonesia, Brazil, and South Africa. Factors such as the availability of land, the efficient supply of raw materials, low transportation costs, inexpensive labor, and less stringent regulations are expected to augment the growth of the market in these countries during the forecast period.
Key Plastic Processing Machinery Market Trend
Another key factor driving the global plastic processing machinery market growth is the integration of IoT with plastic processing machinery. Plastic processing machinery equipped with IoT-enabled sensors has the ability to monitor, collect, exchange, and analyze data using cutting-edge computing techniques at the nodes. Several end-user operators in the plastic processing machinery market have been focusing on smart manufacturing for improving quality and gaining efficiencies in production, thereby reducing the overall time in the production process. IoT in plastic processing machinery will help to monitor, measure, retrieve, and store data in a network, which is connected to equipped machines through sensors. The integration of IoT with plastic processing machinery will continue to improve and enhance productivity and digitize the complete production process, which will further support the market growth in the forecast period.
Key Plastic Processing Machinery Market Challenge
One of the key challenges to the global plastic processing machinery market growth is the increased use of refurbished plastic extrusion machines. The high cost of extrusion machines restricts adoption in small-scale industries or businesses. The manufacturing industry in Asia is characterized by the presence of a large number of SMEs, so the demand for refurbished machinery has increased in APAC because they are available at low costs. The adoption of refurbished machines benefits manufacturers by enabling them to control capital investments, especially small manufacturers who find it difficult to buy new machines. But, for the vendors of plastic processing machinery, it is one of the major challenges as it affects the sales of new plastic processing machinery. Therefore, the availability of refurbished machines directly impacts the vendors in the concerned market in terms of revenue, which will negatively impact the market growth in the forecast period.
This plastic processing machinery market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global plastic processing machinery market as a part of the global industrial machinery market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the plastics processing machinery market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the plastic processing machinery market encompasses successful business strategies deployed by the key vendors. The plastic processing machinery market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
ARBURG GmbH Co KG
To make the most of the opportunities and recover from post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The plastic processing machinery market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the leading companies' production, sustainability, and prospects.
Our report provides extensive information on the value chain analysis for the plastic processing machinery market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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57% of the market's growth will originate from APAC during the forecast period. China, India, and Japan are the key markets for plastic processing machinery in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The rapidly growing population and the rising per capita income have increased the consumption of convenience and processed food in countries such as Japan, India, Thailand, Malaysia, and Australia, which will facilitate the plastic processing machinery market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak of COVID-19 in 2020 had a negative impact on the regional plastic processing machinery market. This had a significant impact on various end-user industries such as construction, automotive, and others as manufacturing units of plastic processing machinery in the region were temporarily shut down. However, in 2021, due to the availability of COVID-19 vaccines and the large-scale vaccination drives carried out by the governments of countries in APAC, activities in end-user industries, such as the construction, packaging, and automotive industry gradually became normal. Therefore, the demand for plastic processing machinery increased, which will lead to regional market growth during the forecast period.
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The plastic processing machinery market share growth by the packaging segment will be significant during the forecast period. The growing demand for attractive and convenient packaging in the food and beverage industry will increase the demand for plastic processing machinery during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the plastic processing machinery market size and actionable market insights on the post-COVID-19 impact on each segment.
Plastic Processing Machinery Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.58% |
Market growth 2022-2026 |
$3.56 billion |
Market structure |
Fragmented |
YoY growth (%) |
3.31 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 57% |
Key consumer countries |
US, China, India, Japan, Germany, and UK |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Alpha Marathon Film Extrusion Technologies Inc., Aoki Technical Laboratory Inc., ARBURG GmbH Co KG, BEKUM Maschinenfabriken GmbH, Cannon Spa, Chen Hsong Holdings Ltd., Cosmos Machinery Enterprises Ltd., ENGEL AUSTRIA GmbH, Graham Engineering Corp., Gurucharan Industries, Haitan International Holdings Ltd., Hillenbrand Inc., Husky Technology, Kautex Maschinenbau GmbH, KraussMaffei Technologies GmbH, Negri Bossi Spa, Ningbo Haida Plastic Machinery Co. Ltd., Shibaura Machine Co. Ltd., Sumitomo Heavy Industries Ltd., and The Japan Steel Works Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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