The Plastic Processing Auxiliary Equipment Market is projected to reach $9 billion by 2030, at a CAGR of 3.5% during the forecast period 2023–2030. The growth of this market is driven by the high demand for plastics across industries and economic growth and improving living standards. However, the rising awareness regarding plastic pollution and the growing emphasis on reusing plastics restrain the growth of this market. The proliferation of advanced plastic recycling techniques is expected to create growth opportunities for the players operating in this market. However, government initiatives to ban single-use plastics are a major challenge to market growth. Additionally, growing consumer awareness regarding sustainability and the adoption of advanced technologies in plastic processing are prominent trends in the plastic processing auxiliary equipment market.
The COVID-19 pandemic originated in Wuhan, China, in the last quarter of 2019. By March 2020, the infection had spread to most countries around the globe, with the WHO declaring COVID-19 a global pandemic. Governments enforced countrywide lockdowns and social distancing restrictions, impacting travel and the trade of all goods and services considered non-essential. Restrictions were imposed on manufacturing industries to ensure social distancing, forcing facilities to operate at limited capacities or shut down completely. This led to the disruption of global supply chains, causing a demand-supply gap. Most industries also faced challenges, such as raw material and workforce shortages, further adding to the production deficits.
The COVID-19 pandemic and the lockdown measures significantly impacted plastic production. The use of plastics declined across sectors, including automotive and construction. Whereas, the use of plastics significantly increased in the healthcare sector due to the high adoption of face masks and other personal protective equipment.
Thus, the COVID-19 pandemic had a mixed impact on various industries. The healthcare and e-commerce industries increased the utilization of plastics for personal protective equipment and packaging, respectively, whereas the use of plastics in the automotive and construction industries declined due to operational challenges and diminished demand for the final products. Overall, the COVID-19 pandemic negatively impacted the plastic processing auxiliary equipment market due to low demand for plastic among end-use industries.
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High Demand for Plastics Across Industries to Drive the Growth of the Plastic Processing Auxiliary Equipment Market
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, and carpentry, among others. 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.
In 2023, the Conveying Equipment Segment is Expected to Account for the Largest Market Share
Based on type, the plastic processing auxiliary equipment market is segmented into blending equipment, extrusion equipment, conveying equipment, drying equipment, heat transfer equipment, material storage equipment, size reduction equipment, plastic processing robots, and other auxiliary equipment. Conveying equipment minimizes product imperfection, equipment failure, production downtime, and ongoing maintenance costs. In 2023, the conveying equipment segment is expected to account for the largest share of the global plastic processing auxiliary equipment market. However, the blending equipment segment is expected to register the highest CAGR during the forecast period.
In 2023, Injection Technique Segment is Expected to Account for the Largest Market Share
Based on molding technique, the global plastic processing auxiliary equipment market is segmented into injection technique, blow technique, extrusion technique, compression technique, and other molding techniques. In 2023, the injection technique segment is expected to account for the largest share of the global plastic processing auxiliary equipment market. The injection molding technique has a wide range of material selection, minimal scrap losses, low labor costs, and minimal requirements for post-molding finishing operations. These factors are increasing the use of injection molding by plastic processors. However, the blow technique segment is projected to register the highest CAGR during the forecast period.
In 2023, Plastic Packaging Segment is Expected to Dominate the Plastic Processing Auxiliary Equipment Market
Based on sector, the global plastic processing auxiliary equipment market is broadly segmented into automotive, food & beverage, pharmaceuticals, plastic packaging, opticals, electricals, white goods, construction, healthcare and other industries. In 2023, the plastic packaging segment is expected to account for the largest share of the global plastic processing auxiliary equipment market. Plastic packaging is shatterproof and does not fragment into dangerous shards when dropped. It is considered an ideal choice for the packaging of foodstuffs. Additionally, in healthcare, medicines and pharmaceutical products can be filled and sealed without human intervention using plastic packaging equipment. However, the construction segment is projected to register the highest CAGR during the forecast period.
Asia-Pacific to Dominate the Plastic Processing Auxiliary Equipment Market in 2023
Based on geography, in 2023, Asia-Pacific is expected to account for the largest share of the plastic processing auxiliary equipment market. The region is technologically advanced and has well-established automotive, pharmaceutical, healthcare, and aerospace sectors. China is a leading country in plastic production due to high investments in plastic manufacturing. Increasing investments from key players in various end-use industries are contributing to the large share of this market. However, Latin America is projected to record the highest CAGR during the forecast period.
Key Players
The key players operating in the plastic processing auxiliary equipment market are Piovan Group (Italy), Bry-Air (Asia) Pvt. Ltd. (India), Shibaura Machine Co., Ltd. (Japan), Woywod Kunststoffmaschinen GmbH & Co. Vertriebs-KG (Germany), Moretto S.p.A. (Italy), WITTMANN Technology GmbH (WITTMANN Group) (Austria), Werner Koch Maschinentechnik GmbH (Germany), Absolute Haitian Corporation (U.S.), AIC Acquisition Company, LLC (U.S.), Milacron LLC (U.S.), Reynold India Private Limited (India), Guanxin Plastic Machinery Co., LTD (China), Vector Injection Ltd. (Canada), Maillefer (Finland), Rosendahl Nextrom GmbH (Austria), MATSUI MFG. CO., LTD. (Japan), Kawata Mfg. Co., Ltd., and motan holding GmbH (Germany).
Scope of the Report:
Plastic Processing Auxiliary Equipment Market, by Type
Plastic Processing Auxiliary Equipment Market, by Molding Technique
Plastic Processing Auxiliary Equipment Market, by Sector
Plastic Processing Auxiliary Equipment Market, by Geography
Key questions answered in the report:
The plastic processing auxiliary equipment market is projected to reach $9 billion by 2030, at a CAGR of 3.5% during the forecast period
The growth of this market is driven by the high demand for plastics across industries and economic growth and improving living standards. Furthermore, the proliferation of advanced plastic recycling techniques is expected to create growth opportunities for the players operating in this market.
The key players operating in the plastic processing auxiliary equipment market are Piovan Group (Italy), Bry-Air (Asia) Pvt. Ltd. (India), Shibaura Machine Co., Ltd. (Japan), Woywod Kunststoffmaschinen GmbH & Co. Vertriebs-KG (Germany), Moretto S.p.A. (Italy), WITTMANN Technology GmbH (WITTMANN Group) (Austria), Werner Koch Maschinentechnik GmbH (Germany), Absolute Haitian Corporation (U.S.), AIC Acquisition Company, LLC (U.S.), Milacron LLC (U.S.), Reynold India Private Limited (India), Guanxin Plastic Machinery Co., LTD (China), Vector Injection Ltd. (Canada), Maillefer (Finland), Rosendahl Nextrom GmbH (Austria), MATSUI MFG. CO., LTD. (Japan), Kawata Mfg. Co., Ltd., and motan holding GmbH (Germany).
In 2023, Asia-Pacific is expected to dominate the plastic processing auxiliary equipment market. However, Latin America is slated to register the highest CAGR over the coming years.
This report provides pre & post COVID-19 market estimates.
This report provides pre & post COVID-19 market estimates.
This report provides pre & post COVID-19 market estimates.
Published Date: May-2023
Published Date: Apr-2024
Published Date: May-2024
