Product Code: 67389
The plastic processing machinery market is expected to reach USD 38.4 billion with a CAGR of 7% during the forecast period (2020 - 2025).
- The increasing consumption of the plastics from the end-user industries such as oil and gas, food and beverages, automotive is expected to drive the market growth over the forecast period.
- In 2017, PlasticsEurope, IEA, Ocean Conservancy forecasted that the share of plastics being consumed in the oil sector globally is expected to rise to 20% as compared to 6% in 2014.
- The increasing need for high-strength, low-weight, fuel-efficient and durable components in the automotive sector that allows them to maintain environmental and related norms is expected to boost the adoption of the machinery that enables the players to meet such regulations.
- According to the global auto report released by The Bank of Nova Scotia (Scotiabank) in June 2019, it forecasted that the number of cars to be sold by 2019 would rise to 77 million as compared to the 54.9 million cars to be sold till 2015.
- The growing initiatives by the governments of both developing and the developed economies to curb the usage of plastics are expected to hinder the market growth over the forecast period.
Scope of the Report
The plastic processing machinery converts the plastics raw material into semi-finished products. This report segments the market by Type (Injection Moulding Machinery, Blow Moulding Machinery, Extrusion Machinery, Thermoforming Machinery) and Geography
Key Market Trends
Injection Molding machinery is Expected to Hold a Significant Share
- Plastics polymers being the most commonly used raw material by injection molding machines, it is used to produce a variety of multi-dimensional and complex products with plastics.
- The increasing consumption of plastic bottles by the bottling companies is expected to propel the companies to enhance their production capabilities to meet the growing demand.
- According to DCC China, China is becoming the world's biggest bottled drinking water market by volume and is expected to reach a total annual consumption of 49 million tons by 2020. Such instances are indicative of the fact that the injection molding machinery market is poised to grow over the forecast period.
- The rising energy costs combined with an increased corporate interest in sustainability have propelled the players to incorporate new features or develop machines that consume less energy. For instance, in April 2018, Yizumi-HPM announced its plans to launch three new series of injection molding machines at NPE 2018 May 7-11 at the Orange County Convention Center in Orlando, Fla. The company will also launch the A5-N series toggle servo hydraulic model UN360DP-N (360 US tons, 34 oz), the machine will manufacture a 2.5 gallon (9.5-l) HDPE pail.
- The company's third-generation energy-saving servo technology is stable, reliable, and durable and is characterized by high efficiency, energy savings, low noise, strong power, and fast response.
North America is Expected to Hold the Largest Share
- The increase in the sales of the vehicles is expected to boost the adoption of the plastic processing machinery as players in the automotive sector are continually focusing their efforts on making the components lighter that enables them to achieve higher fuel efficiency.
- According to Scotiabank's global auto report of June 2019, the United States's seasonally-adjusted annualized sales rate auto sales in May 2019 were 17.31 million that represents a 5.4% (sa) increase in the sales rate over the previous month, nudging year-to-date sales up slightly to 16.9 million saar units from last month's 16.8 millionn saar units. Such instances are indicative of the fact that there lies a lucrative opportunity for the plastic processing machinery market.
- However, the increasing initiative regarding the plastic ban in the region is expected to hinder the market growth over the forecast period. In June 2019, the Canadian government announced its plans to ban single-use plastics like straws, plastic bags, and cutlery by early 2021 to reduce non-recyclable waste and protect the world's oceans.
The competitive rivalry in the plastic processing machinery market is high owing to the presence of some key players such as Brown Machine Group, Haitian International Holdings Limited amongst others. Through research and development, these companies have gained a competitive advantage by continually innovating their offerings. These players through strategic partnerships and mergers & acquisitions have been able to gain a strong footprint in the market as well as being able to further develop the technology.
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Table of Contents
- 1.1 Study Deliverables
- 1.2 Study Assumptions
- 1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
- 4.1 Market Overview
- 4.2 Introduction to Market Drivers and Restraints
- 4.3 Market Drivers
- 4.3.1 Increasing Demand for Plastics from the Packaging Industry
- 4.3.2 Increasing Demand for Light Weight Components From the Automotive Sector is Fueling the Demand for Plastic Being Used
- 4.4 Market Restraints
- 4.4.1 Awareness Campaigns for Minimal Usage of Plastics
- 4.5 Industry Value Chain Analysis
- 4.6 Industry Attractiveness - Porter's Five Force Analysis
- 4.6.1 Threat of New Entrants
- 4.6.2 Bargaining Power of Buyers/Consumers
- 4.6.3 Bargaining Power of Suppliers
- 4.6.4 Threat of Substitute Products
- 4.6.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
- 5.1 By Type
- 5.1.1 Injection Molding Machinery
- 5.1.2 Blow Molding Machinery
- 5.1.3 Extrusion Machiner
- 5.1.4 Thermoforming Machinery
- 5.1.5 Others
- 5.2 Geography
- 5.2.1 North America
- 5.2.2 Europe
- 5.2.3 Asia-Pacific
- 5.2.4 Latin America
- 5.2.5 Middle East and Africa
6 COMPETITIVE LANDSCAPE
- 6.1 Company Profiles
- 6.1.1 Husky Injection Molding Systems Ltd.
- 6.1.2 Arburg GmbH + Co KG
- 6.1.3 Sumitomo Heavy Industries
- 6.1.4 The Japan Steel Works, LTD.
- 6.1.5 Milacron LLC
- 6.1.6 Gurucharan Industries
- 6.1.7 Red Arrow Industries
- 6.1.8 Kautex Maschinenbau GmbH
- 6.1.9 Engel Austria Gmbh
- 6.1.10 Haitian International Holdings Limited
- 6.1.11 Brown Machine Group
7 MARKET OPPORTUNITIES AND FUTURE TRENDS