Cement factory interiors. Industrial cement production conveyor. Workers in the shop on the production line
The Plastic Processing Auxiliary Equipment Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Plastic Processing Auxiliary Equipment Global Market Report 2024, 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.
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.
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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
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 plastic processing auxiliary equipment market report table of contents includes:
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 analysis
5.Plastic Processing Auxiliary Equipment Market Size And Growth
6.Plastic Processing Auxiliary Equipment Segmentation
7.Plastic Processing Auxiliary Equipment Regional And Country Analysis
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27.Plastic Processing Auxiliary Equipment Competitive Landscape And Company Profiles
28.Plastic Processing Auxiliary Equipment Key Mergers And Acquisitions
29.Plastic Processing Auxiliary Equipment Future Outlook and Potential Analysis
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