Global Plastic Processing Machinery Market Size to worth USD 36.95 Billion by 2033: Forecast Analysis Report

Global Plastic Processing Machinery Market Size to worth USD 36.95 Billion by 2033

According to a research report published by Spherical Insights & Consulting, The Global Plastic Processing Machinery Market Size is Expected to Grow from USD 24.26 Billion in 2023 to USD 36.95 Billion by 2033, at a CAGR of 4.30% during the forecast period 2023-2033.  

Browse key industry insights spread across 210 pages with 110 Market data tables and figures & charts from the report on the Global Plastic Processing Machinery Market Size, Share, and 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 By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.    

Plastic processing machinery refers to the equipment used to convert raw plastic materials into finished products. Injection molding machines, extrusion machines, blow molding machines, and thermoforming machines are all included in plastic processing machinery. Governments and corporations are investing in programs that encourage recycling, reusing, and cutting down plastic waste. This trend is offering lucrative growth opportunities for manufacturers of plastic processing equipment by creating technology that promotes the use of recycled materials, improves energy efficiency, and makes closed-loop production processes easier. The growing need for plastic products and ongoing advancements in plastic processing machinery technology are driving the market. The increasing demand for plastic molds in electric vehicles as well as in healthcare is propelling the market demand for plastic processing machinery. On the contrary, government regulations for reducing the use of plastics as well as the promotion of recycling and limiting plastic waste are challenging the market growth.

The injection molding machinery segment dominates the market with the largest share during the forecast period.

Based on the type, the plastic processing machinery market is classified into injection molding machinery, blow molding machinery, extrusion molding machinery, thermoforming machinery, and others. Among these, the injection molding machinery segment dominates the market with the largest share during the forecast period. Injection molding machines are used for manufacturing intricate, strong, and lightweight parts including dashboards, bumpers, and interior trimmings.

The packaging segment is anticipated to hold the largest market share during the forecast period.

Based on the industry vertical, the plastic processing machinery market is classified into packaging, automotive, construction, consumer goods, healthcare, and others. Among these, the packaging segment is anticipated to hold the largest market share during the forecast period. The plastic processing machinery is used to make flexible packaging materials such as bags and films, food containers, cosmetic packaging, and beverage bottles.

Asia Pacific is estimated to hold the largest share of the plastic processing machinery market over the forecast period.

Asia Pacific is estimated to hold the largest share of the plastic processing machinery market over the forecast period. The presence of a vast manufacturing base in countries like China and India is contributing to driving the regional market. Further, rapid industrialization, urbanization, and export-oriented manufacturing are expected to drive the market for plastic processing machinery.

North America is predicted to grow at the highest CAGR in the plastic processing machinery market over the forecast period. The technological advancement and innovation in the region are responsible for propelling the market. The stringent regulatory standards and focus on sustainability which leads to the adoption of advanced plastic processing technologies are driving the market growth.

Company Profiling 

Major key players in the global plastic processing machinery market include The Japan Steel Works, Ltd. (JSW), Arburg, Husky Injection Molding Systems, Sumitomo Heavy Industries, Ltd., Persimmon Technologies Corporation, Milacron Holdings Corporation, Haitian International Holdings Limited, Chen Hsong Holdings Limited, ENGEL Austria GmbH, Nissei Plastic Industrial Co., Ltd., Krauss-Maffei Corporation, Alpha Marathon Film Extrusion Technologies Inc., and Others.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Development

• In February 2023, Arburg GmbH + Co KG, Lossburg, Germany, announced the new Allrounder 470 H – a hybrid electric/hydraulic injection moulding machine intended to save energy and conserve resources.

• In August 2022, LS Mtron Injection Molding Machines introduced a new Artificial Intelligence (AI)--based smart injection system. This new technology features two systems, the AI Molding Assistant and Smart Weight Control.

• In July 2022, SACMI opened the doors of its new regional headquarters in Mumbai dedicated to the Rigid Packaging Business.

• In May 2022, Husky TechnologiesTM, a pioneering technology provider enabling the delivery of essential needs to the global community, announced the introduction of its revolutionary HyPET HPP5e Recycled Melt to PreformTM (RMTP) system.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the plastic processing machinery market based on the below-mentioned segments:

Global Plastic Processing Machinery Market, By Type

• Injection Molding Machinery
• Blow Molding machinery
• Extrusion Molding Machinery
• Thermoforming Machinery
• Others

Global Plastic Processing Machinery Market, By Industry Vertical

• Packaging
• Automotive
• Construction
• Consumer Goods
• Healthcare
• Others

Global Plastic Processing Machinery Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa