Industrial and Manufacturing Sectors Propel Growth of Rotational Molding Machines Market: Predicted to Reach $1,321 Million by 2033

According to Future Market Insight, the rotational molding machines market could be worth US$ 1,321 million by 2033, compared to US$ 918.7 million in 2023. The market is likely to register a moderate CAGR of 3.7% over this evaluation period.

Two key factors are anticipated to propel market revenue growth. Rapid industrialization and rising demand from various sectors for industrial tanks and containers. Given the growing popularity of plastic products, rotational molding machines are in great demand.

The preferences of every individual are evolving due to the increase in spending. Therefore, they are purchasing more distinctive chairs, couches, benches, and other furniture items. The development of more sophisticated and affordable molding machines is also being facilitated globally by increased research and technological advancement.

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Growing customer demand for distinctive furniture components is being fueled by shifting consumer preferences and rising disposable income. Given increased research activity and technological breakthroughs, innovative and affordable molding machines are also being produced globally. In addition, expanding markets for sports and playground equipment as well as the automotive and construction sectors are driving demand for rotational molding machines.

The expansion of the building, construction, and sports and playground equipment industries is also fueling the demand for rotational molding machines. Moreover, to address the rising demand for products that are easy to use, several governments are attempting to adopt plastic products.

Partnerships with significant players in the market are increasing as the importance of home décor grows to provide visually appealing things. Also, leading companies are anticipated to find new ways to expand given the increased demand to solve business difficulties.

There have been identified numerous significant trends that are projected to contribute to market growth. Rotational molding machines have come under the limelight given the several end-use industry's searches for highly efficient casting and molding methods. Also, the desire for well-finished designs for consumer goods drives the demand for efficient molding and casting.

Key Takeaways

The rotational molding machines industry in the United Kingdom is anticipated to exhibit a CAGR of 2.1% through 2033.
The United States dominated the rotational molding machines market in 2022 holding a 23.7% share of the global market.
Exhibiting a CAGR of 4.9% over the forecast period, the rotational molding machines market in India is predicted to develop rapidly.
The sales of rotational molding machines in China are expected to register a CAGR of 4.6% over the forecast period.

Competitive Landscape

Rotational molding machine manufacturers are creating sophisticated, automated machines with enhanced accuracy, efficiency, and safety features. To comply with environmental standards and client needs for eco-friendly solutions, they are also concentrating on combining sustainable materials and energy-saving technology. Moreover, manufacturers are growing their global footprint and providing customizable possibilities. To accommodate a variety of applications across sectors.

Recent Developments

Ferry Industries, Inc. stated in August 2021 that it intends to launch a new range of machinery under the name NEXUS. Modern components like touchscreen control, automation, and energy-saving technologies are going to be found in these machines.
In March 2021, the Italian business Persico Group acquired STP Rotomachinery. A manufacturer of rotational molding equipment with headquarters in the United States. Persico Group hopes to increase its position in North America with the takeover.

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Rotational Molding Machines Market

Rotational Molding Machines Market by Category

By Product Type:

Carousel
Rock & Roll
Shuttle
Up & Over
Clamshell

By Application:

Tanks & Container
Drums & Bins
Carts & Carrier
Toys & Kayaks
Others

By End Use:

Food & Beverage
Agriculture
Automotive & Marine
Chemicals & Petrochemicals
Pharmaceuticals
Homecare
Other Industrial

By Region:

North America
Latin America
Europe
South Asia
East Asia
Oceania
The Middle East and Africa(MEA)

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About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.

This release was published on openPR.