Press release
Plastic Processing Auxiliary Equipment Market Trends, Future Development, Top Manufacturers, Share, Size And Forecast 2033
Plastic Processing Auxiliary Equipment Market
The Business Research Company offers in-depth market insights through Plastic Processing Auxiliary Equipment Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The plastic processing auxiliary equipment market size has grown steadily in recent years. It will grow from $7.06 billion in 2023 to $7.31 billion in 2024 at a compound annual growth rate (CAGR) of 3.6%. The growth in the historic period can be attributed to increased plastic manufacturing industry, globalization of plastic production, regulatory compliance and safety, packaging industry growth, recycling initiatives.
The plastic processing auxiliary equipment market size is expected to see steady growth in the next few years. It will grow to $8.54 billion in 2028 at a compound annual growth rate (CAGR) of 3.9%. The growth in the forecast period can be attributed to focus on energy efficiency, advanced material processing, expansion of 3d printing in plastics, demand for sustainable practices, r&d in materials science, global supply chain resilience. Major trends in the forecast period include remote maintenance and diagnostics, compact and modular designs, customization for diverse applications, automation and robotics, industry 4.0 integration.
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Market Segmentation:
The plastic processing auxiliary equipment market covered in this report is segmented -
1) By Type: Conveying Equipment, Extrusion Equipment, Blending Equipment, Drying Equipment, Heat Transfer Equipment, Plastic Processing Robots, Size Reduction Equipment, Material Storage Equipment, Other equipment
2) By Molding Technique: Injection Technique, Blow Technique, Extrusion Technique, Compression Technique, Other Molding Techniques
3) By Application: Food, Pharmaceutical, Automobile, Other Applications
Major Driver - The Surge In Demand Driving Plastic Processing Auxiliary Equipment Market
The growing demand for plastic processing auxiliary equipment is expected to propel the growth of the plastic processing auxiliary equipment market going forward. Plastic equipment refers to machinery used for manufacturing and processing plastic products. Plastic processing auxiliary equipment is essential in various production lines to improve product quality, increase strength, and support extrusion, injection molding, or machine molding processes. For instance, in March 2023, the Plastics Industry Association's (PLASTICS) Committee's Equipment Statistics (CES) report, a US-based committee, revealed that in the fourth quarter of 2022, the shipments of plastics machinery in North America rose by 22.3%, amounting to $432.7 million. This was an overall increase of 4.4% compared to 2021. The most significant increase was in the value of single-screw extruders, which rose by 34.6%, followed by injection molding shipments which increased by 25.0%. Twin-screw extruder shipments increased by 8.9%. Therefore, the growing demand for plastic processing equipment is driving the growth of the plastic processing auxiliary equipment market going forward.
Competitive Landscape:
Major companies operating in the plastic processing auxiliary equipment market report are Piovan Group, Shibaura Machine Co. Ltd.,Wittmann Technology GmbH, Woywod Kunststoffmaschinen GmbH & Co. Vertriebs-KG, Kawata Mfg Co. Ltd., Bry-Air Pvt. Ltd., Reynold India Pvt. Ltd., Maillefer SA, Moretto SpA, Matsui America Inc., Novatec Inc., Werner Koch Maschinentechnik GmbH, Absolute Haitian Corporation, Guanxin Plastic Machinery Co. Ltd., Vector Injection Ltd., Plastic Systems Srl, Motan Group, Pinnacle Systems Inc., ACS Group, Conair Group, PMS Plastics cc, Maguire Products Inc., Comet Plastic Equipment LLC, Plastrac Inc., Gammaflux L.P., Coperion GmbH, Labotek A/S, Sterling Auxiliaries Pvt. Ltd., Universal Dynamics Inc., Davis Standard LLC
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Top Trend - AI Takes The Lead In Plastic Processing Auxiliary Equipment
Advanced technologies are a key trend gaining popularity in the plastic processing auxiliary equipment market. Companies operating in the plastic processing auxiliary equipment market are launching advanced technological products based on artificial intelligence to sustain their position in the market. For instance, in October 2022, LS Mtron Co Ltd., a South Korea-based heavy machinery and electronic components manufacturer company launched AI Molding Assistant and Smart Weight Control, which are artificial intelligence (AI)-based smart injection systems. The AI Molding Assistant uses AI technology to learn and imitate the behavior of skilled molding specialists, reducing the time required to stabilize the initial molding setup process. Smart Weight Control detects product weight changes and adjusts processing conditions in real-time to ensure correct specifications are met.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Plastic Processing Auxiliary Equipment Market Characteristics
3. Plastic Processing Auxiliary Equipment Market Trends And Strategies
4. Plastic Processing Auxiliary Equipment Market - Macro Economic Scenario
5. Plastic Processing Auxiliary Equipment Market Size And Growth
…..
27. Plastic Processing Auxiliary Equipment Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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