Around the world, the demand for plastic packaging is going up, especially in industries like food, beverages, consumer goods, electronics, and industry. People like using plastic packaging because it has many benefits. It doesn't react with many products, keeping items safe. The materials used can be made without any smell, protecting the item from different conditions. The product can even be sealed to make sure nothing leaks. These advantages are making more and more people want plastic packaging.
One of the main places where this demand is high is North America. The retail sector there is organized and highly regulated, which means it follows strict rules to keep items safe in different categories. According to the US Census Bureau, the money made from the US unlaminated film and plastic packaging materials industry is expected to reach USD 38 billion in 2024. This shows how much people are using plastic packaging, especially in North America.
In Europe, the growth of plastic packaging is also happening because of the benefits it offers. Compared to glass, plastic is lighter, which means it's easier to transport. Glass is heavier, needing more trips during transportation, which is not good for the environment. Also, for the end user, plastic is lighter and easier to handle. In 2018, the International Bottled Water Association (IBWA) used 13.8 billion gallons of bottled water. A survey showed that more than nine out of 10 Americans expect bottled water to be available wherever other drinks are sold.
HIGH DEMAND FOR PLASTICS IN HEALTHCARE
When the coronavirus pandemic hit, everything changed, including how industries work, how people buy things, and how products are made. Many places faced challenges because of temporary closures and restrictions. However, despite all these challenges, the demand for plastics went up in 2020. This was seen in major countries like North America, where sales and production of plastics increased a lot.
Plastic materials became very important in the healthcare sector during the pandemic. They were widely used to make hospital equipment and personal protective equipment (PPE). This helped a lot in controlling the spread of the virus. Plastics played a crucial role in dealing with the challenges brought by the pandemic, and this is expected to continue in the future. The medical device industry, which uses a lot of plastics, has good prospects for growth in the coming years.
In simple terms, people are using more plastic packaging, especially in North America and Europe. The benefits of plastic, like being light and easy to use, are driving this demand. Even in tough times like the COVID-19 pandemic, the demand for plastics increased, especially in healthcare. Plastics became essential in making equipment and protective gear. So, the use of plastics is expected to keep growing, helping in various industries and keeping things safe for people.
Report Attribute/Metric | Details |
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Market Opportunities | · Rising demand for the plastic packaging industry. |
Market Dynamics | · Governing the safekeeping of products in different categories. |
Global Plastic Processing Machinery Market Size was valued at USD 44.09 Billion in 2023. The Plastic Recycling Equipment market industry is projected to grow from USD 46.07 Billion in 2024 to USD 62.6 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 3.91% during the forecast period (2024 - 2032). Growth in plastic demand from the packaging industry and the requirement for high-performance components that consume plastic are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The rising demand from the end-use industry drives market CAGR for plastic processing machinery Industries such as packaging, automotive, construction, and electronics heavily rely on plastic components, driving the need for advanced plastic processing machinery. The packaging industry, particularly, is witnessing significant growth, fueled by rising e-commerce activities and changing consumer preferences. Plastic packaging materials offer durability, cost-effectiveness, and customization options, leading to increased adoption. Plastic processing machinery manufacturers are focusing on developing machines capable of producing complex and lightweight packaging products with higher efficiency. Moreover, the automotive industry is another major Plastic recycling market driver. Plastic processing machinery is evolving to meet the industry's demand for high-precision, complex automotive parts while addressing sustainability concerns by incorporating recycled materials.
The increasing emphasis on sustainability and the circular economy profoundly impacts the Plastic molding machines market. Governments, regulatory bodies, and consumers are increasingly concerned about the environmental impact of plastic waste. As a result, a growing demand for plastic processing machinery supports producing eco-friendly and recyclable plastic products. Manufacturers are adopting new technologies and processes to enable the recycling and reuse of plastic materials. Advanced plastic processing machinery is designed to handle recycled plastics, facilitating the production of high-quality recycled products. Additionally, there is a shift towards biodegradable and compostable plastics, which require specialized processing machinery to ensure optimal performance.
Technological advancements have revolutionized the Plastic Process Equipment market, increasing automation and efficiency. Manufacturers are incorporating advanced technologies such as robotics, artificial intelligence (AI), and machine learning (ML) to enhance the overall performance of plastic processing machinery. These technologies enable precise control, reduce material waste, and enhance productivity. Automation has significantly impacted injection molding, one of the most widely used plastic processing methods. Advanced injection molding machines now feature automated control systems, integrated sensors, and real-time monitoring capabilities. This integration ensures consistent product quality, reduced cycle times, and improved energy efficiency. Additionally, incorporating robotics in plastic processing machinery has improved production speed, accuracy, and overall throughput.
The global plastic processing machinery market is witnessing significant transformations driven by technological advancements, sustainability initiatives, and increased demand from various end-use industries. Manufacturers leverage automation, AI, and robotics to enhance efficiency and productivity. Sustainability and the circular economy push the development of machinery that can handle recycled and eco-friendly plastics, driving the Plastic molding equipment market revenue.
The global Plastic Processing Machinery market segmentation, based on product type, includes injection molding machinery, blow molding machinery, compression molding machinery, extrusion molding machinery, and rotational molding machinery. The extrusion molding machinery segment dominated the market. Extrusion machines continuously produce plastic profiles, sheets, and films.
The global Plastic Processing Machinery market segmentation, based on end-use, includes the packaging industry, construction industry, automotive industry, electronic & electrical industry, agriculture industry, and others. The packaging industry category generated the most income, owing to the widespread use of plastic packaging materials in various forms, such as bottles, containers, and films.
The global Plastic Processing Machinery market segmentation, based on plastic type, includes polypropylene, polyethylene, polyurethane, polyvinyl chloride, polyethylene terephthalate, and polystyrene. The polyethylene segment dominated the market, with packaging, pipes, and automotive components applications.
Figure 1: Global Plastic Processing Machinery Market by Product Type, 2023 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American Plastic Processing Machinery market will dominate due to the region's strong manufacturing base and technological advancements. In addition, the region's focus on sustainable and eco-friendly manufacturing practices also drives the adoption of advanced plastic processing machinery.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: GLOBAL PLASTIC PROCESSING MACHINERY MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe's Plastic Processing Machinery market accounts for the second-largest market share due to the region's stringent regulations on plastic waste management and recycling, creating a demand for machinery that facilitates sustainable production and waste reduction. Further, the German Plastic Processing Machinery market had the fastest market share, and the UK Plastic Processing Machinery market was the fastest-growing market in the European region.
The Asia-Pacific Plastic Processing Machinery Market is expected to grow significantly from 2023 to 2032. It is due to rapid industrialization, favorable government initiatives, and increasing consumer demand for plastic products fuel the market growth in countries. Moreover, China’s Plastic Processing Machinery market held the largest market share, and the Indian Plastic Processing Machinery market was the fastest-growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development to expand their product lines, which will help the Plastic processing technology market grow even more. Market participants are also undertaking various strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Plastic Processing Machinery industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the global Plastic Processing Machinery industry to benefit clients and increase the market sector. The Plastic Processing Machinery industry has offered some of the most significant medical advantages in recent years. Major players in the Plastic Processing Machinery and Equipment market, including Brown Machine Group (US), Haitian International Holdings Limited (China), Milacron (US), ENGEL AUSTRIA GmbH (Austria), Husky Injection Molding Systems Ltd (Canada), Lyle Industries (US), ARBURG GmbH (Germany), Cannon S.P.A. (Italy), Cosmos Machinery Enterprises Limited (Hong Kong), Sumitomo Heavy Industries (Japan), and others, are attempting to increase market demand by investing in research and development operations.
Husky Injection Molding Systems Ltd., founded in 1953 in Bolton, Ontario, Canada, is a machinery supplier for injection molding plastics. It manufactures a range of injection molding machines, robots, hot runners, and auxiliary systems used in plastics manufacturing. In July 2022, Husky Technologies, a major player in the plastics processing machinery industry, upgraded its mold controller software offering and launched the second-generation control algorithm for its line of Altanium® mold controllers, known as the Advanced Reasoning Technology (ART 2.0). The new offering is technologically advanced and is more productive and efficient compared to various offerings in the market.
Milacron LLC, founded in 1970, and located in Cincinnati, Ohio, United States of America, is a limited liability company that manufactures and shares plastic processing equipment for fields such as injection and extrusion molding. In March 2021, Milacron (US), a Hillenbrand subsidiary, launched the FANUC Roboshot ALPHA-SIB series in North America. The ALPHA-SIB series includes features like a higher resolution/performance PANEL iH control and new electrical standards. This new product launch expands the company's product portfolio in the North American region.
August 2021 T. Sumitomo Heavy Industries, Ltd launched a double-shot injection molding machine, "SE400HS- CI". This machine improves productivity, work efficiency, and capability. This product launch strengthened the company's product portfolio.
July 2022 SACMI group opened its new regional headquarters in Mumbai, India, dedicated to its Rigid Packaging Business. Moreover, in January 2021, Haitian Vietnam Ltd., a subsidiary of the Haitian group in Vietnam, opened its new shop in Ho Chi Minh City. The new 1000 sq.m. building contains multifunctional space modules for product display and meeting areas, after-sales training, spare parts storage, and offices.
April 2024
Origin Materials, located in Sacramento, California, collaborated with PackSys Global, a Swiss-based manufacturer of plastic closure slitting machines, to develop a production system for PET caps and closures. This partnership was announced in 2023. Origin Materials was the first firm to launch a PET cap. Following the completion of successful testing of the system at the KREALAB technological center of PackSys, which is based in the headquarters of the company in Ruti, Switzerland, the firms are presenting the findings at NPE2024.
PackSys is showcasing its TEM-SF Plus slitting and folding machine as well as its capLAB+ inline device, which evaluates the tear-off force of tamper-evident tape (TE tape) on closures. Both of these machines are available for purchase. This system is now operational at the exhibit of Netstal, where it is being demonstrated alongside an injection molding machine manufactured by Netstal. Additionally, it is incorporated into an INTRAVIS CapWatcher System being displayed there. Representatives from Packsys and Origin are now dividing their time between the booths of the Bruckner Group USA and at Netstal. Berry Global, a provider of packaging, is also an integral element of the project.
End-of-life recycling for PET bottles is made more difficult by the fact that caps are generally made from HDPE or PP and are either injection molded or compression molded. Although a spokesman for Origin has refused to comment on the manner in which the PET caps are first manufactured, they have said that any kind of PET, including recycled PET or their own biobased PET, may be utilized in the manufacturing method that they have in place. According to Origin, PET is superior than HDPE and PP in terms of its ability to act as a barrier against carbon dioxide and oxygen.
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