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Growth in demand for plastic products is likely to stimulate innovation in the production of plastic processing machinery, boosting the market during the forecast period.

The global plastic processing machinery market is expected to grow from $35.21 billion in 2022 to $37.00 billion in 2023 at a compound annual growth rate (CAGR) of 5.10%. The global plastic processing machinery market size is expected to reach $45.93 billion in 2027 at a CAGR of 5.55%.

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 Global Plastic Processing Machinery Market Segments Include:

• By Type: Injection Molding Machinery, Blow Molding Machinery, Extrusion Machinery, Thermoforming Machinery, 3D Plastic Printers, Other Types,
• By Plastic Type: Polypropylene (PP), Polyethylene (PE), Polyurethane (PUR), Polyvinyl Chloride (PVC), Polyethylene Terephthalate (PET), Polystyrene (PS)
• By End User Industries: Packaging, Consumer Products, Construction, Automotive, Other End User Industries
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global plastic processing machinery market in 2021.

Major Market Players in the plastic processing machinery market include Husky Injection Molding Systems Ltd., Milacron LLC, Engel Austria Gmbh, Haitian International Holdings Limited, Sumitomo Heavy Industries Ltd., Arburg GmbH & Co.

Technological developments are a prominent trend in the plastic processing machines market. Companies in the plastic processing machinery industry are embracing new technologies in order to maintain their market position. For example, in August 2022, LS Mtron, a heavy machinery manufacturer based in South Korea, unveiled a smart AI-based injection moulding system. This technique includes two technical components: an AI moulding assistant and smart weight control. The AI moulding assistant aids in the reduction of stabilising time during the initial moulding phases, and smart weight control detects any change in product weight.

The Plastic Processing Machinery Global Market Report 2023  provides a plastic processing machinery market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The plastic processing machinery market forecast analyzes plastic processing machinery market size, plastic processing machinery market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Machines and equipment used in the manufacture and processing of plastic products are referred to as plastic processing machinery. These machines convert raw plastic ingredients into finished products that can be used in a variety of applications.

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