Plastic Processing Machinery Market

Plastic Processing Machinery Market Overview

The global Plastic Processing Machinery Market size was valued at USD 31.24 billion in 2023 and is predicted to reach USD 41.71 billion by 2030 with a CAGR of 4.2% from 2024 to 2030. The plastic processing machinery market also known as plastic molding machinery includes the global industrial sector that deals in the design, manufacturing, and distribution of machineries and tools used for molding, shaping, and forming plastic products. The vital features of the market contain advanced automation, precision, and high production efficiency, that enables manufacturers in the production of complex plastic components with consistent quality.

Polyethylene, polypropylene, PVC, and PET are primary raw materials used in this market. The benefit of the plastic molding machinery lie in its capability to produce high-precision plastic parts efficiently, the versatility to handle different types of plastics, and scale production level based on the demand. This market aids diverse industrial sectors driving innovation and enabling the production of high-quality plastic components essential for modern manufacturing.

Market Dynamics and Trends

The growth of the construction sectors rise the necessity for utilization of plastic materials for diverse construction activities such as pipes, window frames, insulation panels, flooring, and others, thereby propelling the market growth. In the latest report of the World Bank, construction activities rose by 5%, indication a surge from USD 26.45 trillion in 2021 to USD 27.76 trillion in 2022.

This drives the manufacturers to invest in advanced plastic molding machinery to meet the rising demand for high-quality, and precision-engineered plastic components, fueling the plastic molding machinery market growth. Furthermore, the expansion of the automotive industry propels the demand for precision – engineered plastic parts leading to increase utilization of plastics molding machinery.

This machine allows for the manufacturing of major auto components including dashboards, exterior panels, bumpers, interior trims and under-the-hood items. The global car sales rose to 27.76 trillion units in 2023 from 26.45 trillion units in 2020 that reflects a 24.4% growth. Correspondently, it accelerates the incorporation of advanced plastic molding machines to produce car parts efficiently for meeting the rising needs of this growing sector.

Moreover, plastic processing machinery demand is accelerated by packaging industry growth, due the need for packaging solutions that is versatile, durable, and cost-effective. As per the World Packaging Organization report 2022 the global packaging market is growing at an accelerating pace reaching approximately USD 1,012.6 billion.

Plastic molding machines are important for making different packaging items such as bottles, films, trays, and pouches with accuracy and speed. The expansion of the packing industry propels the adoption of plastic molding machinery to meet the diverse needs of contemporary customers and organizations involved in packing businesses.

However, growing awareness of environmental impacts associated with plastic products along with strict government regulations on plastic usage acts as major constraint in the growth of the market. On the other hand, the incorporation of Artificial Intelligence (AI) and Internet of Things (IoT) in plastic processing equipment presents numerous prospects for market development by increasing efficiency, productivity as well as innovation.

AI algorithms help to examine huge loads of data collected through sensors that are inter-linked with IoT devices and embedded into machines enabling them to systematically optimize production processes, estimate maintenance requirements and decrease downtime. This capability to perform predictive maintenance lessens operational costs and enhances machinery uptime thus is expected to create substantial growth prospects in the forthcoming years.

Market Segmentations and Scope of the Study

The plastic processing machinery market share is segmented on the basis of product type, plastic type, industry vertical, and region. On the basis of product type, the market is divided blow molding, compression molding, extrusion molding, injection molding, rotational molding, and others. On the basis of plastic type, the market is classified into polypropylene (PP), polyethylene (PE), polyurethane (PUR), polyvinyl chloride (PVC), polyethylene terephthalate (PET), polystyrene (PS), and others. On the basis of industry vertical, the market is segmented into packaging, construction, automotive, consumer goods, healthcare, and others. Regional breakdown and analysis of each of the aforesaid segments include regions comprising North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis

Asia Pacific holds the dominant share in the plastic molding machinery market and is projected to maintain its dominance throughout the forecast period. This is attributed to the expansion of the toy industry in countries such as China and India that propels the requirement for high-quality, intricate, and safe plastic components used in modern toys. 

The report published by the State Council Information Office 2023, states that the retail sales of toys in Chinese domestic market surge to around USD12 billion in 2022, reflecting 3.3% growth in comparison to sales in the previous year. Plastic molding machinery, such as injection molding and extrusion equipment, is vital for shaping toys effectively and accurately, thereby fueling the market demand.

Additionally, the surge in automotive production in the region drives the need of the manufacturers to depend upon plastic materials to produce light weight, and efficient components for automotive, boosting the growth of the market. For instance, the automotive sector is growing significantly in India that witnessed a rise in car sales by 19% to 4.11 million units in 2023 from 3.44 million units in 2021. 

Plastic processing machinery, such as injection molding and thermoforming equipment, is essential for shaping specialized automotive parts with precision that reflects a positive outlook for the market growth. On the other hand, the North America Region is expected to show a steady rise in the plastic processing machinery market growth.

This is due to surge in packaging industry growth in the countries such as U.S. and Canada that heightens the requirement for the manufacturers to invest in innovative packaging solutions. As per the Flexible Packaging Association report 2023, the flexible packaging industry generated around USD 42.9 billion sales within the U.S. in 2022. Plastic packaging machinery aid in meeting the rising demand by facilitating the mass production of various plastic packaging formats such as bottles, containers, pouches, and trays, thereby boosting its market growth.

Moreover, the expansion of the healthcare sector in the region propels the need for medical tools for patient care that in turn is accelerating the market demand. In the report published by the Government of Canada, the medical device market in Canada reached around USD 7.04 billion growth that comprises around 2.3% of the global market share in 2022. Injection moulding and extrusion plastic molding equipment helps to shape intricate medical tools such as syringes, catheters, and implantable devices, correspondently driving the market demand.

Competitive Landscape

Various key market players operating in the plastic processing machinery industry includes Star Plastic Machinery, CMD Corporation, Arburg GmbH, ENGEL, Plustech Systems & Solutions, Sumitomo (SHI) Demag Plastics Machinery GmbH, FCS Group, Toshiba Machine Co. Ltd., Milacron Holdings Corporation, Haitian International Holdings Ltd., and others. These market players are adopting various strategies such as acquisition, and product launch to stay competitive and maintain their market positions.

For instance, in January 2024, CMD Corporation acquired FAS Converting Machinery, for expansion of the company’s portfolio in the plastic converting machinery sector. This acquisition helped to increase the capabilities of CMD in offering innovative solutions for flexible packaging manufacturing, further solidifying its position as a leading player in the industry.

Furthermore, in December 2022, new X-type parallel quartet injection molding machine was launched by FCS Group, providing enhanced capabilities for producing complex plastic parts with multiple materials or colors in a single operation.

This advanced machinery aimed to cater to the growing demand for versatile and efficient manufacturing solutions in the plastics industry, enabling manufacturers to achieve greater flexibility, precision, and cost-effectiveness in their production processes.

Moreover, in December 2022, Plustech launched new Micro MIM (m:MIM) injection molding line. This innovative product launch aimed to meet the increasing demand for high-quality metal components across various industries, offering manufacturers an efficient and cost-effective solution for producing intricate metal parts with exceptional precision and consistency.

Key Benefits

• The report provides quantitative analysis and estimations of the plastic processing machinery market from 2024 to 2030, which assists in identifying the prevailing industry opportunities.

• The study comprises a deep dive analysis of the current and future plastic processing machinery market including the current and future trends to depict prevalent investment pockets in the industry.

• Information related to key drivers, restraints, and opportunities and their impact on the plastic processing machinery market is provided in the report. 

• Competitive analysis of the key players, along with their market share is provided in the report.

• SWOT analysis and Porters Five Forces model is elaborated on the study.

• Value chain analysis in the market study provides a clear picture of roles of stakeholders.

Plastic Processing Market Key Segments

By Product Type

• Blow Molding

• Compression Molding

• Extrusion Molding

• Injection Molding

• Rotational Molding

• Others 

By Plastic Type

• Polypropylene (PP)

• Polyethylene (PE)

• Polyurethane (PUR)

• Polyvinyl Chloride (PVC)

• Polyethylene Terephthalate (PET)

• Polystyrene (PS)

• Others 

By Industry Vertical

• Packaging

• Construction

• Automotive

• Consumer Goods

• Healthcare

• Others

By Region

• North America

  • The U.S.

  • Canada

  • Mexico

• Europe

  • The UK

  • Germany

  • France        

  • Italy        

  • Spain        

  • Denmark        

  • Netherlands        

  • Finland        

  • Sweden        

  • Norway        

  • Russia        

  • Rest of Europe    

• Asia Pacific

  • China

  • Japan

  • India

  • South Korea

  • Australia

  • Indonesia

  • Singapore

  • Taiwan

  • Thailand

  • Rest of Asia Pacific

• RoW

  • Latin America

  • Middle East

  • Africa

REPORT SCOPE AND SEGMENTATION

Parameters	Details
Market Size in 2023	USD 31.24 Billion
Revenue Forecast in 2030	USD 41.71 Billion
Growth Rate	CAGR of 4.2% from 2024 to 2030
Analysis Period	2023–2030
Base Year Considered	2023
Forecast Period	2024–2030
Market Size Estimation	Billion (USD)
Growth Factors	Expansion of the construction industry fuels the market. Growth of the automotive industry boosts the market growth. Advancement of the packaging industry propels the market growth
Countries Covered	28
Companies Profiled	10
Market Share	Available for 10 companies
Customization Scope	Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope.
Pricing and Purchase Options	Avail customized purchase options to meet your exact research needs.

KEY PLAYERS

• Star Plastic Machinery

• CMD Corporation 

• Arburg GmbH

• ENGEL

• Plustech Systems and Solutions

• Sumitomo (SHI) Demag Plastics Machinery GmbH

• FCS Group 

• Toshiba Machine Co. Ltd.

• Milacron Holdings Corporation

• Haitian International Holdings Limited