Plastic Processing Auxiliary Equipment Market to be Worth $9 Billion by 2030

According to a new market research report titled, 'Plastic Processing Auxiliary Equipment Market by Type (Batch Blenders, Extrusion Controllers, Chillers, Granulators, Robots), Molding Technique (Injection, Blow), Sector (Automotive, Food & Beverage, Packaging, Construction) - Global Forecast to 2030,' the plastic processing auxiliary equipment market is projected to reach $9 billion by 2030, at a CAGR of 3.5% during the forecast period of 2023 to 2030.
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The growth of this market is driven by the high demand for plastics across industries and economic growth and improving living standards. However, the rising awareness regarding plastic pollution and the growing emphasis on reusing plastics restrain the growth of this market. The proliferation of advanced plastic recycling techniques is expected to create growth opportunities for the players operating in this market. However, government initiatives to ban single-use plastics are a major challenge to market growth. Additionally, growing consumer awareness regarding sustainability and the adoption of advanced technologies in plastic processing are prominent trends in the plastic processing auxiliary equipment market.

The plastic processing auxiliary equipment market is segmented by type (blending equipment (batch blenders, continuous blender, and other blending equipmnent), extrusion equipment (extrusion controllers, film trim reclaim systems, vacuum sizing equipment, and other extrusion equipment), conveying equipment (loaders, receivers, control systems, hoppers, and other conveying equipment), drying equipment (dryers, filtration equipment, and other drying equipment) heat transfer equipment (temperature control units, chillers, cooling tower systems, and other heat transfer equipment), material storage equipment (silos, tilters, and other material storage equipment), size reduction equipment (shredders, granulators, and other size reduction equipment), plastic processing robots, and other equipment); molding technique (injection technique, blow technique, extrusion technique, compression technique, and other molding techniques); sector (automotive, food & beverage, pharmaceutical, plastic packaging, opticals, electricals, white goods, construction, healthcare, other sectors); and geography. The study also evaluates industry competitors and analyses the market at the country level.

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Based on type, the plastic processing auxiliary equipment market is segmented into blending equipment, extrusion equipment, conveying equipment, drying equipment, heat transfer equipment, material storage equipment, size reduction equipment, and other equipment. In 2023, the conveying equipment segment is expected to account for the largest share of the global plastic processing auxiliary equipment market. However, the blending equipment segment is expected to register the highest CAGR during the forecast period. Blending equipment helps manufacturers reduce colorant costs, which increases the demand for blending equipment.

Based on molding technique, the global plastic processing auxiliary equipment market is segmented into injection technique, blow technique, extrusion technique, compression technique, and other molding techniques. Injection molding is one of the most preferred techniques to achieve high-quality and cost-effective plastic parts. It is a manufacturing technique used to produce parts in large volumes. In 2023, the injection technique segment is expected to account for the largest share of the global plastic processing auxiliary equipment market. However, the blow technique segment is projected to register the highest CAGR during the forecast period.

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Based on sector, the global plastic processing auxiliary equipment market is broadly segmented into automotive, food & beverage, pharmaceuticals, plastic packaging, opticals, electricals, white goods, construction, healthcare, and other sectors. Plastic packaging is widely used across several industries for its advantageous properties such as durability, lightweight, and low cost. In 2023, the plastic packaging segment is expected to account for the largest share of the global plastic processing auxiliary equipment market. The high demand for plastic packaging materials from sectors such as healthcare, pharmaceutical, and automotive is driving the growth of this segment. However, the construction segment is projected to register the highest CAGR during the forecast period.

Based on geography, the global plastic processing auxiliary equipment market is segmented into six regions: North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa. In 2023, Asia-Pacific is expected to account for the largest share of the global plastic processing auxiliary equipment market. The rapid economic growth of the Asia-Pacific region, led by countries such as China, India and Indonesia, is driving the demand for plastic products. This increase in demand for plastic products offers significant growth opportunities to plastic manufacturers, resulting in the increased adoption of plastic processing auxiliary equipment.

The key players operating in the plastic processing auxiliary equipment market are Piovan Group (Italy), Bry-Air (Asia) Pvt. Ltd. (India), Shibaura Machine Co., Ltd. (Japan), Woywod Kunststoffmaschinen GmbH & Co. Vertriebs-KG (Germany), Moretto S.p.A. (Italy), WITTMANN Technology GmbH (WITTMANN Group) (Austria), Werner Koch Maschinentechnik GmbH (Germany), Absolute Haitian Corporation (U.S.), AIC Acquisition Company, LLC (U.S.), Milacron LLC (U.S.), Reynold India Private Limited (India), Guanxin Plastic Machinery Co., LTD (China), Vector Injection Ltd. (Canada), Maillefer (Finland), Rosendahl Nextrom GmbH (Austria), MATSUI MFG. CO., LTD. (Japan), Kawata Mfg. Co., Ltd., and motan holding GmbH (Germany).

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Scope of the Report:
Plastic Processing Auxiliary Equipment Market, by Type
Conveying Equipment
Loaders
Receivers
Hoppers
Control Systems
Other Conveying Equipment
Extrusion Equipment
Extrusion Controllers
Film Trim Reclaim Systems
Vacuum Sizing Equipment
Other Extrusion Equipment
Blending Equipment
Batch Blenders
Continuous Blenders
Other Blending Equipment
Drying Equipment
Dryers
Filtration Equipment
Other Drying Equipment
Heat Transfer Equipment
Chillers
Temperature Control Units
Cooling Tower Systems
Other Heat Transfer Equipment
Plastic Processing Robots
Size Reduction Equipment
Granulators
Shredders
Other Size Reduction Equipment
Material Storage Equipment
Silos
Tilters
Other Material Storage Equipment
Other Equipment

Plastic Processing Auxiliary Equipment Market, by Molding Technique
Injection Technique
Blow Technique
Extrusion Technique
Compression Technique
Other Molding Technique

Plastic Processing Auxiliary Equipment Market, by Sector
Plastic Packaging
Construction
Automotive
Electricals
White Goods
Food & Beverage
Healthcare
Pharmaceuticals
Opticals
Other Sectors

Plastic Processing Auxiliary Equipment Market, by Geography
North America
U.S.
Canada
Europe
U.K.
Germany
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
India
Japan
Indonesia
Rest of Asia-Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East
Saudi Arabia
UAE
Rest of Middle East
Africa
Nigeria
South Africa
Rest of Africa

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This release was published on openPR.