Soaring Demand Set to Propel Plastic Processing Auxiliary Equipment Market to $8.73 Billion by 2029

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What Is the Expected CAGR for the Plastic Processing Auxiliary Equipment Market Through 2025?
In recent times, there has been a slight increase in the size of the plastic processing auxiliary equipment market. It is projected to expand from $7.26 billion in 2024 to $7.38 billion in 2025, with a compound annual growth rate (CAGR) of 1.6%. Factors such as the rise in the plastic manufacturing industry, the globalization of plastic production, regulatory compliance and safety measures, the growth of the packaging industry, and recycling initiatives have all contributed to the growth observed in the historical period.

What's the Projected Size of the Global Plastic Processing Auxiliary Equipment Market by 2029?
In the coming years, the market for plastic processing auxiliary equipment is expected to exhibit steady growth. The market value is projected to reach $8.73 billion by 2029, growing at a compound annual growth rate (CAGR) of 4.3%. Factors propelling this growth over the forecast period includes a focus on energy efficiency, enhancement in material processing, the proliferation of 3d printing in the plastic industry, an increasing demand for sustainable practices, scientific research and development in materials, and resiliency in the global supply chain. The forecast period will also see trends such as remote maintenance and diagnostics, compactibility and modular designs, diversification through customization, automation and robotics, and the integration of industry 4.0.

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Top Growth Drivers in the Plastic Processing Auxiliary Equipment Industry: What's Accelerating the Market?
The plastic processing auxiliary equipment market is anticipated to grow due to an increasing demand for such equipment. These machines, which are used in the manufacturing and processing of plastic products, play a crucial role in enhancing product quality, strengthening it, and facilitating extrusion, injection molding, or machine molding operations. In March 2023, a report by the Equipment Statistics Committee of the Plastics Industry Association, a US-based organization, indicated that North American plastic machinery shipments during the last quarter of 2022 had been boosted by 22.3%, totaling $432.7 million, marking a 4.4% overall rise from 2021. The steepest increase was in the single-screw extruders' value, with a 34.6% rise, followed by a 25.0% surge in injection molding shipments. Twin-screw extruder shipments grew by 8.9%. Therefore, the booming demand for plastic processing machinery significantly contributes to the burgeoning growth of the plastic processing auxiliary equipment market.

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What Trends Will Shape the Plastic Processing Auxiliary Equipment Market Through 2029 and Beyond?
Pushing forward leading-edge technologies is a current trend gaining traction in the plastic processing auxiliary equipment market. Companies in this market are introducing products that take advantage of advanced technology and artificial intelligence in order to maintain their market standing. As an illustration, in October 2022, LS Mtron Co Ltd., a company that manufactures heavy machinery and electronic components based in South Korea, introduced the AI Molding Assistant and Smart Weight Control. These are AI-integrated smart injection systems. The AI Molding Assistant utilizes AI tech to learn and replicate the actions of experienced molding experts, thereby decreasing the time it takes to stabilize the initial molding setup process. The Smart Weight Control system monitors changes in product weight and modifies processing conditions in real time to consistently meet correct specifications.

What Are the Main Segments in the Plastic Processing Auxiliary Equipment Market?
The plastic processing auxiliary equipmentmarket 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

Subsegments:
1) By Conveying Equipment: Belt Conveyors, Screw Conveyors, Pneumatic Conveyors, Bucket Elevators
2) By Extrusion Equipment: Single-Screw Extruders, Twin-Screw Extruders, Pipe And Profile Extruders, Sheet Extruders
3) By Blending Equipment: Batch Mixers, Continuous Mixers, Gravimetric Blenders, Non-Gravimetric Blenders
4) By Drying Equipment: Dehumidifying Dryers, Hot Air Dryers, Vacuum Dryers, Hopper Dryers
5) By Heat Transfer Equipment: Heat Exchangers, Water-Cooled Chillers, Oil Heaters, Thermal Controllers
6) By Plastic Processing Robots: Articulated Robots, SCARA Robots, Delta Robots, Collaborative Robots
7) By Size Reduction Equipment: Granulators, Shredders, Pulverizers, Crushers, Hammer Mills
8) By Material Storage Equipment: Silos, Bins, Hoppers, Tote Bins, Bulk Storage Systems
9) By Other Equipment: Mixing Stations, Dosing And Weighing Systems, Degassing Systems, Vacuum Loading Systems, Material Handling Equipment

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Which Top Companies are Driving Growth in the Plastic Processing Auxiliary Equipment Market?
Major companies operating in the plastic processing auxiliary equipment market include 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

Which Regions Will Dominate the Plastic Processing Auxiliary Equipment Market Through 2029?
Asia-Pacific was the largest region in the plastic processing auxiliary equipment market in 2024. The regions covered in the plastic processing auxiliary equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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