Plastic Processing Machinery Market Poised for Growth, Expected to Reach USD 42 Billion by 2030

According to Next Move Strategy Consulting, the global Plastic Processing Machinery Market, value, is projected to reach USD 42 billion by 2030, growing at a CAGR of 4% from 2024 to 2030. This market encompasses the design, manufacturing, and distribution of machinery and tools used for molding, shaping, and forming plastic products with advanced automation, precision, and efficiency.

Click Here for Your FREE Sample!

Market Dynamics and Trends

The expansion of construction, automotive, and packaging industries is driving the demand for plastic molding machinery. The World Bank reported a 5% increase in global construction activities, rising from USD 26.45 trillion in 2021 to USD 27.76 trillion in 2022. This surge fuels the need for advanced plastic molding machinery to produce high-quality and precision-engineered plastic components.

Similarly, the automotive industry is experiencing significant growth, with global car sales rising from 26.45 trillion units in 2020 to 27.76 trillion units in 2023, reflecting a 24.4% growth. Plastic molding machinery plays a crucial role in manufacturing auto components such as dashboards, bumpers, and interior trims, enabling manufacturers to meet the increasing demand for lightweight, durable, and cost-effective solutions.

The packaging sector also significantly contributes to market growth. The World Packaging Organization reported that the global packaging market reached approximately USD 1,012.6 billion in 2022. Plastic processing machinery is essential for producing a variety of packaging items such as bottles, films, trays, and pouches with speed and accuracy.

However, environmental concerns and stringent government regulations on plastic usage pose challenges to the market. On the other hand, the integration of Artificial Intelligence (AI) and the Internet of Things (IoT) in plastic processing equipment presents new opportunities by enhancing efficiency, productivity, and innovation.

Download Your Free Sample Today!

Market Segmentations and Scope of the Study

The plastic processing machinery market is segmented based on product type, plastic type, industry vertical, and region:

• By Product Type: Blow Molding, Compression Molding, Extrusion Molding, Injection Molding, Rotational Molding, and Others.
• By Plastic Type: Polypropylene (PP), Polyethylene (PE), Polyurethane (PUR), Polyvinyl Chloride (PVC), Polyethylene Terephthalate (PET), Polystyrene (PS), and Others.
• By Industry Vertical: Packaging, Construction, Automotive, Consumer Goods, Healthcare, and Others.
• By Region: North America, Europe, Asia-Pacific, and the Rest of the World (RoW).

Geographical Analysis

Asia-Pacific dominates the plastic processing machinery market and is expected to maintain its leading position. The expansion of the toy industry, especially in China and India, contributes to the increased demand for high-quality and intricate plastic components. The State Council Information Office reported that retail toy sales in China reached approximately USD 12 billion in 2022, marking a 3.3% growth.

Additionally, the automotive sector in India is experiencing robust growth, with car sales increasing by 19% to 4.11 million units in 2023 from 3.44 million units in 2021. This growth drives the need for advanced plastic processing machinery, such as injection molding and thermoforming equipment, to manufacture lightweight and efficient automotive parts.

Meanwhile, North America is expected to see steady growth in the plastic processing machinery market, driven by the rising demand for flexible packaging solutions. According to the Flexible Packaging Association, the U.S. flexible packaging industry generated around USD 42.9 billion in sales in 2022. Plastic packaging machinery is crucial for mass-producing various packaging formats, further propelling market expansion in the region.

Competitive Landscape

The global plastic processing machinery market is highly competitive, with key players focusing on acquisitions and product launches to strengthen their market presence. Major industry players include:

• 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.

Key Benefits of the Report

• Provides quantitative analysis and market estimations from 2024 to 2030, identifying emerging industry opportunities.
• Offers a comprehensive analysis of market trends, highlighting key investment areas.
• Details key market drivers, challenges, and opportunities influencing industry growth.

About Next Move Strategy Consulting:

Next Move Strategy Consulting is a premier market research and management consulting firm that hasbeen committed to provide strategically analysed well documented latest research reports to its clients.The research industry is flooded with many firms to choose from, what makes Next Move different fromthe rest is its top-quality research and the obsession of turning data into knowledge by dissecting everybit of it and providing fact-based research recommendation that is supported by information collectedfrom over 500 million websites, paid databases, industry journals and one on one consultations withindustry experts across a diverse range of industry sectors. The high-quality customized research reportswith actionable insights and excellent end-to-end customer service help our clients to take criticalbusiness decisions that enables them to move beyond time and have competitive edge in the industry.

We have been servicing over 1000 customers globally that includes 90% of the Fortune 500 companiesover a decade. Our analysts are constantly tracking various high growth markets and identifying hiddenopportunities in each sector or the industry. We provide one of the industry’s best quality syndicates aswell as custom research reports across 10 different industry verticals. We are committed to deliver highquality research solutions in accordance to your business needs. Our industry standard deliverysolutions that range from the pre consultation to after-sales services, provide an excellent clientexperience and ensure right strategic decision making for businesses

Summary

The global plastic processing machinery market is witnessing significant growth, driven by increased demand in the construction, automotive, and packaging industries. With the adoption of AI and IoT technologies, manufacturers are enhancing efficiency and innovation in plastic molding machinery. While environmental concerns pose challenges, the growing need for high-precision plastic components across various industries ensures continued market expansion. Asia-Pacific remains the dominant market, while North America experiences steady growth due to increasing packaging industry demands. Leading industry players continue to invest in technological advancements to maintain a competitive edge in the evolving landscape of plastic processing machinery.