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Plastic Processing Equipment Market to Reach $ 2.1 Billion by 2031 - TMR Study

  • The plastic processing equipment market is projected to expand at a CAGR of 4% during 2022-2031
  • Surge in the production of plastic materials globally is prognosticated to drive the expansion of the plastic processing equipment market
  • The presence of many emerging economies in Asia Pacific with high plastics demand is fueling the regional market

WILMINGTON, Del., Oct. 4, 2022 /PRNewswire/ -- Transparency Market Research Inc. - The market value of the plastic processing equipment market is estimated to reach a value of more than US$ 2.1 Bn by 2031, finds a review by Transparency Market Research (TMR). This aside, the demand analysis of plastic processing equipment market by TMR notes that the market is expected to grow at a CAGR of 4% during the forecast period, from 2022 to 2031.

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The stakeholders operating in the plastic processing equipment market are investing heavily in R&D projects in order to advance the quality of products they offer. This aside, many researches in the industry are focused on the development of technologically advanced equipment. Moreover, major market enterprises are focusing on the execution of strategies such as mergers, acquisitions, and new product launches in order to stay ahead of the competition. Besides, enterprises in the plastic processing industry increasing the use of sustainable green and bioplastic technologies. Such factors are foreseen to drive the market expansion in the near future, states a TMR analysis.

According to analysts of a TMR review, Asia Pacific is one of the fastest growing market for plastic processing equipment owing to the presence of largest plastic processing industry in the world. Moreover, the existence of many leading plastics producing nations such as India, China, and other emerging nations is expected to help in the rapid growth of the Asia Pacific plastic processing equipment market during the forecast period.

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Plastic Processing Equipment Market: Key Findings

  • Plastic processing equipment are being utilized in a wide range of industry verticals including the construction, automotive, aerospace, technical molding, household, caps & closures, electrical, consumer goods, and packaging. This wide range of device application is anticipated to fuel the growth prospects in the global plastic processing equipment market during the forecast period, state analysts at TMR.
  • The utilization of plastics is being rising in the recent years for a wide range of purposes. According to the forecasts, the plastics production is anticipated to reach a 756 million tons, which suggests that the production is expected to reach the volume of over double by 2050. Over the period of past few years, there has been a surge in the demand for plastics globally owing to their varied advantages. Hence, the need for machines with an ability to process raw materials with advanced precision, speed, and with minimum material wastage is being rising worldwide. This, in turn, is anticipated to create profitable prospects for companies operating in the global market, states a TMR review that delivers important insights on the key market segments in plastic processing equipment market.

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Plastic Processing Equipment Market: Growth Boosters

  • Rise in the utilization of injection and extrusion molding in the plastic industry is fueling the market growth
  • Increase in the replacement of equipment components is expected to fuel the sales of plastic processing equipment in the forthcoming years
  • Surge in the application of plastics across various end-use industries is leading to revenue-generation avenues in the market

Plastic Processing Equipment Market: Key Players

Some of the key players profiled in the report are:

  • BOCO PARDUBICE machines, s.r.o.
  • American Screw & Barrel, Inc.
  • Concor Tool and Machine Inc.
  • Canadian Feed Screws Mfg. Ltd.
  • Milacron
  • Lung Chang Machinery Enterprise Co. Ltd.
  • Raj Engineering Works
  • Nordson Corporation
  • W-J Incorporated
  • Windsor Feedscrews Inc.

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Plastic Processing Equipment Market Segmentation

  • Product
  • Screw

- Single Screw

- Below 19 mm

- 20 mm-25 mm

- 26 mm-40 mm

- 41 mm-60 mm

- 61 mm-75 mm

- 76 mm-90 mm

- 91 mm-110 mm

- 111 mm-135 mm

- Above 135 mm

  • Twin Screw

- Below 35 mm

- 36mm-50 mm

- 51mm-70mm

- 71mm-100mm

- 101mm-125mm

- 126mm-150mm

- 151 mm-175 mm

- 176mm-200 mm

- Above 200 mm

  • Barrel
  • Nozzle System
  • End Caps
  • Others (Screw Tips, Feeder, etc.)
  • Material
  • Bimetallic
  • Nitride
  • Carbide
  • Steel
  • Chrome
  • Others (Beryllium-Copper Alloy, Aluminum, etc.)
  • Industry
  • Automotive
  • Packaging
  • Electronics
  • Healthcare
  • Consumer Goods
  • Others (Furniture, Processing Industry, etc.)

  • Application

  • Extrusion
  • Injection Molding

  • Sales Channel

  • OEM
  • After Market

Region

  • North America
  • Europe & MEA
  • Asia
  • Latin America

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About Transparency Market Research

Transparency Market Research registered at Wilmington, Delaware, United States, is a global market research company providing custom research and consulting services. TMR provides in-depth insights into factors governing demand in the market. It divulges opportunities across various segments based on Source, Application, Sales Channel, and End-Use that will favor growth in the market over the next 9 years.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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Cision View original content:https://www.prnewswire.com/news-releases/plastic-processing-equipment-market-to-reach--2-1-billion-by-2031---tmr-study-301640501.html

SOURCE Transparency Market Research

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