Plastic Processing Machinery Market Size, Share & COVID-19 Impact Analysis, By Type (Injection Molding Machinery, Blow Molding Machinery, Extrusion Molding Machinery, Thermoforming Machinery, and Others), By Industry Vertical (Packaging, Automotive, Construction, Consumer Goods, Healthcare, and Others), and Regional Forecast, 2023 – 2030

The global plastic processing machinery market size was valued at USD 21.17 billion in 2022. The market is projected to grow from USD 21.86 billion in 2023 to USD 30.26 billion by 2030, exhibiting a CAGR of 4.8% during the forecast period.

Plastic processing machinery encompasses various types of equipment, including injection molding machines (used for producing intricate plastic parts), extrusion machines (for making profiles, pipes, and sheets), blow molding machines (for producing bottles and containers), and thermoforming machines (for creating packaging and disposable products).

Advances in technology have increased the efficiency and precision of machines, reducing waste and energy consumption in the plastic manufacturing process. For example, the integration of automation and robotics has improved the production speed and quality. Sustainability is a growing concern in the plastic industry. Manufacturers are exploring ways to reduce the environmental impact of plastic processing machines. This includes developing machinery that can process recycled plastics and exploring alternative materials. The concept of a circular economy, where plastics are reused, recycled, or repurposed rather than discarded as waste, is gaining traction. Plastic processing machines are evolving to support these circular economy principles.

COVID-19 IMPACT

Supply Chain Disruptions and Lack of Investments Hindered Market Growth

The pandemic disrupted supply chains worldwide, leading to delays in the production and delivery of machinery components. This, in turn, affected the manufacturing capacity of machinery suppliers. Many industries that use plastic products, such as automotive and aerospace experienced low supply of these products during the pandemic. This resulted in reduced investments in new machinery and production facilities. On the other hand, certain sectors, such as healthcare, packaging (especially for food and e-commerce), and personal protective equipment (PPE) saw an increased demand for plastic products. This prompted some manufacturers to modify their production lines or invest in additional machinery to meet this sudden increase in demand. The pandemic also intensified manufacturers’ focus on sustainability and environmental concerns. Some companies in the plastic machinery market started exploring machines that could process recycled plastics or use eco-friendly materials. As economies began to recover from the initial shock of the pandemic, the demand for plastic products gradually rebounded. This led to a gradual recovery of the market.

LATEST TRENDS

Use of Industry 4.0 Technologies to Foster Market Growth

In Industry 4.0, processing machines are equipped with sensors and connected to the Internet. These sensors can collect real-time data on various parameters, such as temperature, pressure, speed, and quality. This data is then transmitted to a central system where it is analyzed. For example, sensors in an injection molding machine monitor the temperature and pressure during the molding process to ensure product quality. Industry 4.0 enables the formulation of predictive maintenance strategies. By continuously monitoring the condition of processing machinery, manufacturers can predict when maintenance is needed. This prevents unexpected breakdowns and reduces downtime. For instance, if sensors detect abnormal vibrations in an extrusion machine, maintenance can be scheduled before a major failure occurs. Industry 4.0 also enables greater customization and flexibility in production. Machines can be reconfigured quickly to produce different products or adapt to changing customer demands. Therefore, the integration of Industry 4.0 in this industry aims to improve efficiency, reduce costs, enhance product quality, and provide greater agility in responding to customer demands. It represents a fundamental shift in the approach toward manufacturing, leveraging the power of data and connectivity to drive innovation and competitiveness.

DRIVING FACTORS

Advancements in Plastic Materials to Fuel Demand For Specialized Processing Machinery

Plastic materials are constantly evolving, with researchers and manufacturers developing new formulations and types of plastics with enhanced properties and capabilities. New plastic materials are engineered to have specific characteristics, such as increased strength, heat resistance, durability, or biodegradability. To process these specialized materials effectively, manufacturers often need updated or specialized plastic processing machinery. Advanced plastic materials require machinery with higher precision and tighter process control to ensure the correct temperature, pressure, and extrusion rates. This precision is essential to achieve the desired properties in the finished plastic products. 3D printing and additive manufacturing technologies have introduced new possibilities in the development of plastic products. Specific types of processing machinery are designed for these additive manufacturing processes. In summary, advancements in plastic materials will drive innovation and enhance diversity in the types of plastics available for use in various industries. Plastic processing machine manufacturers must keep abreast of the latest developments in plastic materials to design and produce machinery that efficiently processes these evolving materials. This ensures that manufacturers can meet the demands of industries seeking improved performance, sustainability, and versatility in plastic products, thereby contributing to the plastic processing machinery market growth.

RESTRAINING FACTORS

Government Regulations and Market Saturation To Reduce Growth Opportunities for Manufacturers

Governments worldwide are implementing regulations aimed at reducing single-use plastics, promoting recycling, and limiting plastic waste. These regulations restrict the use of certain plastics and require manufacturers to adopt more sustainable practices. Recycling and circular economy initiatives encourage the reuse and recycling of plastics, thereby reducing the need for virgin plastic production. This decreases the demand for machinery used in primary plastic manufacturing. The development of bioplastics (plastics derived from renewable sources) and alternative materials offers more eco-friendly options. These materials often require different processing methods and machinery, potentially impacting the demand for traditional processing machinery.

In some regions or industries, manufacturers already possess sufficient machinery to meet the demand in the market. This can only limit the need for additional machinery if there is a substantial increase in demand. In industries where plastic processing is well-established and mature, there may be little room for significant growth in the demand for processing machines. For example, the demand for basic plastic products may be saturated in certain regions.

Along with government regulations and market saturation, intense competition within the market can lead to reduced opportunities for market expansion.

SEGMENTATION

By Type Analysis

Injection Molding Machines to Gain Traction Owing to Vast Applications in Various Industries

Based on type, the market is segmented into injection molding machinery, blow molding machinery, extrusion molding machinery, thermoforming machinery, and others.

Injection molding machines has the highest share in the market owing to its cost-effectiveness, high production speed, and versatility in creating a wide range of plastic products. Injection molding injects molten plastic material into a mold cavity to create precise and complex plastic parts. The machine is widely used in automotive, packaging, electronics, and medical industries for components and products.

Blow molding forms hollow plastic shapes by inflating heated plastic parisons inside molds. It is primarily used for bottles, containers, and packaging for beverages, personal care, and household items.

Extrusion molding forces molten plastic through a die to produce continuous profiles with specific cross-sections. They are used in construction, automotive, and packaging sectors for items, such as pipes, window frames, and plastic sheeting.

Thermoforming heats plastic sheets and molds them into shapes with consistent thickness and produces packaging trays, disposable cups, and automotive interior components. The others segment comprises processes, such as rotational molding, compression molding, and transfer molding. These methods serve unique purposes, e.g., rotational molding for large, hollow products, such as tanks and playground equipment.

By Industry Vertical Analysis

Packaging Industry to Extensively Use Plastic Processing Machines Owing to Rising Demand for Sustainable Packaging

Based on industry vertical, the market is segmented into packaging, automotive, construction, consumer goods, healthcare, and others. The packaging segment is expected to capture the largest plastic processing machinery market share. This industry relies on plastic processing machines to create containers, bottles, and various packaging materials. This machinery is used to produce bottles for beverages, food containers, cosmetic packaging, and flexible packaging materials, such as bags and films.

The automotive industry employs machinery to manufacture various plastic components used in vehicles. The machines are used for producing plastic parts, such as interior panels, bumpers, dashboards, and engine components.

In construction, plastic processing machines are utilized for creating plastic pipes, fittings, profiles, and other building materials. The machinery produces items, such as PVC pipes, window frames, insulation materials, and structural components.

The consumer goods sector employs plastic machinery to manufacture a wide range of everyday products. These machines are used for producing items including toys, kitchen appliances, household items, and electronic device casings.

The healthcare industry relies on plastic processing machines to produce medical devices, packaging for pharmaceuticals, and healthcare equipment. The machinery is used for producing items, such as syringes, medical tubing, pill packaging, and diagnostic equipment components.

Various industries fall under the others segment, including agriculture, where plastic machinery serves specific applications. Agriculture may use plastic processing machinery for producing items, such as irrigation pipes, greenhouse materials, and agricultural equipment components.

REGIONAL INSIGHTS

Asia Pacific leads the market for lastic processing machinery due to its vast manufacturing base, especially in countries, such as China and India. It is a global hub for plastic production and processing. Rapid industrialization, urbanization, and export-oriented manufacturing will drive the regional market. Sustainability efforts and technological advancements are on the rise. Industries, such as automotive, electronics, packaging, and construction heavily rely on plastic machinery.

China has one of the world's largest and rapidly growing markets. The adoption rate is extremely high, driven by the country's robust manufacturing sector and export-oriented industries. China's status as a global manufacturing hub, particularly for industries, such as electronics, automotive, and consumer goods, will lead to the substantial demand for these machines in the country.

North America has a well-established industry due to high adoption of these machines. The presence of various industries, stringent quality standards, and technological advancements will drive the regional market growth.

Europe has a well-established and technologically advanced plastic processing machinery industry. The adoption of these machines is high, driven by stringent quality standards, eco-friendly practices, and a strong industrial base. Sustainability and circular economy initiatives have created a significant impact on the regional market. European countries are focusing on recycling and reducing plastic waste. The automotive, packaging, and construction sectors are key consumers of plastic processing machinery.

The adoption of plastic processing machinery varies across countries in the Middle East and Africa. The market in some nations is growing, while others have smaller-scale operations. South America's adoption of plastic processing machines varies by country and industry. Countries, such as Brazil have a more mature market, while others have an emerging market.

KEY INDUSTRY PLAYERS

Leading Manufacturers Vie for Market Dominance Through Continuous Product Innovations

Many companies involved in this market are investing heavily in research and development to create machinery with improved efficiency, precision, and automation capabilities. They are working on innovations, such as energy-efficient components, enhanced control systems, and IoT integration. Many companies are developing machinery that supports sustainability, such as systems for processing recycled plastics and equipment that uses eco-friendly materials. Manufacturers may diversify their product portfolios to serve multiple industries and applications. This reduces reliance on specific market segments.

List of Key Companies Profiled:

• ARBURG GmbH (Germany)


• Brown Machine Group (U.S.)


• ENGEL AUSTRIA GmbH (Austria)


• Haitian International Holdings Limited (China)


• Husky Injection Molding Systems Ltd (Canada)


• KraussMaffei (China)


• Milacron LLC (Hillenbrand Inc.) (U.S.)


• NISSEI PLASTIC INDUSTRIAL CO., LTD. (Japan)


• Sumitomo Heavy Industries (Japan)


• WITTMANN Technology GmbH (Austria)

KEY INDUSTRY DEVELOPMENTS:

• July 2022: SACMI Group inaugurated its regional headquarters in Mumbai, India, which is specifically devoted to its rigid packaging business.


• May 2022: Husky Technologies unveiled the HyPET HPP50 Recycled Melt to Preform^TM system, a groundbreaking innovation in preform injection molding, which converts washed flake into preforms.


• August 2021: Sumitomo Heavy Industries launched the SE400HS-CI double-shot injection molding machine, thereby enhancing productivity and expanding its product lineup.


• March 2021: Milacron introduced the FANUC Roboshot ALPHA-SIB series in North America, expanding its product range with enhanced features.


• January 2021: Haitian Vietnam Ltd., a subsidiary of the Haitian group, opened a new 1,000 sq.m. facility in Ho Chi Minh City to offer a versatile space for product display, meetings, after-sales support, and offices.

REPORT COVERAGE

The report provides a detailed analysis of the market and focuses on key aspects, such as leading companies, product/service types, and leading applications of the product. Besides, the report offers insights into the market trends and highlights key industry developments. In addition to the factors mentioned above, the report encompasses several factors that have contributed to the growth of the market in recent years.

Report Scope & Segmentation