In plastics processing industries, auxiliary equipment are peripheral equipment used to improve and optimize the plastic process efficiency and ease of operation. The auxiliary equipment is used for various processes such as extrusion, injection molding, drying, heat transfer, size reduction, and blending. It is an integral part of plastic processing as the quality of the product depends on the automation and rationalization of plastic processing auxiliary equipment. Plastic products are widely used in various industries such as automotive, construction, packaging, healthcare, and food industry, among others.
The main parameter supporting the market's growth is the increasing demand for plastics in healthcare, automotive, consumer goods, and packaging industries. The high consumption of packaged foods is increasing the requirement for plastics, boosting the demand for plastic processing auxiliary equipment.
Plastics are widely used across industries, including automotive, food & beverage, pharmaceuticals, packaging, and construction. These industries use plastics for bumpers, cable insulation, carpet fiber, instrument panels, electrical cable sheathing, and door parts, among other applications. In the construction industry, plastics are used for piping, cable works, facade panels, exterior covering, carpentry, etc. Plastics offer various benefits due to their properties, such as chemical resistance, dimensional stability, durability, sound absorption, weather resistance, thermal insulation, and low weight.
Plastics are widely used for packaging across various industries. Plastic packaging allows companies to store, protect, and preserve products during transport. Without plastic packaging, there can be significant deterioration in product quality resulting in the products becoming unfit for consumption/use before they reach customers.
Thus, various industries are increasingly using plastics for packaging, components, and other applications, indicating a need to increase plastic production capacities, which is expected to drive the demand for plastic production and processing equipment, including auxiliary equipment.
However, plastic waste generation is a major sustainability concern for most industries. Consumers’ increasing awareness regarding the impact of plastic pollution and waste on the environment has become a major determinant for product purchases. According to the International Molded Fiber Association (IMFA), a leading global not-for-profit trade association, an overwhelming majority of global consumers are willing to pay more for sustainable packaging in order to decrease the environmental impacts of plastic. Trivium Packaging (Netherlands), a provider of innovative and sustainable metal packaging solutions, surveyed 15,000 end customers for its Global Buying Green Report, 2021. The report revealed that nearly three-fourths (73%) of consumers are willing to pay more for sustainable packaging. Also, 20% of the respondents were ready to pay a premium for sustainable packaging, and many indicated a willingness to pay an additional 10% or more of the product’s price if the packaging was eco-friendly.
Thus, the high demand for plastic and consumers’ priority towards sustainability is expected to further boost the plastic demand, driving the growth of the plastic processing auxiliary equipment market.
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