The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s Plastic Processing Auxiliary Equipment Global Market Report 2024, the plastic processing auxiliary equipment market is expected to show significant growth in the forecast period.

The plastic processing auxiliary equipment market has shown steady growth in recent years, driven by technological advancements and increasing demand across various industries. This blog explores the market’s growth drivers, future projections, significant trends, and notable industry developments.

Recent Market Growth and Dynamics

Consistent Market Expansion

• Market Size Growth: The market is set to grow from $7.06 billion in 2023 to $7.31 billion in 2024, with a compound annual growth rate (CAGR) of 3.6%.
• Historic Growth Factors: Growth in the past has been influenced by:
  • Increased plastic manufacturing activities
  • Globalization of plastic production
  • Regulatory compliance and safety standards
  • Growth in the packaging industry
  • Initiatives promoting plastic recycling

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Future Market Projections

Steady Growth Forecast

• Expected Market Size: By 2028, the market is projected to reach $8.54 billion, growing at a CAGR of 3.9%.
• Drivers for Future Growth:
  • Focus on energy-efficient equipment
  • Advancements in material processing technologies
  • Expansion of 3D printing applications in plastics
  • Increasing demand for sustainable practices
  • Investments in research and development in materials science
  • Emphasis on global supply chain resilience
• Emerging Trends:
  • Remote maintenance and diagnostics capabilities
  • Compact and modular equipment designs
  • Customization for diverse industrial applications
  • Integration of automation and robotics
  • Adoption of Industry 4.0 technologies in manufacturing processes

Surge in Demand Driving Market Growth

Increased Demand for Plastic Processing Equipment

• Market Propulsion: The demand for plastic processing auxiliary equipment is surging, driven by its essential role in enhancing production efficiency and product quality.
  • Industry Example: According to the Plastics Industry Association’s CES report, shipments of plastics machinery in North America rose significantly in recent quarters, reflecting increased demand across various plastic processing segments.

Key Industry Players and Innovations

Leading Companies and Innovations

• Major Players: Piovan Group, Shibaura Machine Co. Ltd., Wittmann Technology GmbH, Woywod Kunststoffmaschinen GmbH & Co. Vertriebs-KG, Kawata Mfg Co. Ltd., Bry-Air Pvt. Ltd., Reynold India Pvt. Ltd., Maillefer SA, Moretto SpA, Matsui America Inc., Novatec Inc., Werner Koch Maschinentechnik GmbH, Absolute Haitian Corporation, Guanxin Plastic Machinery Co. Ltd., Vector Injection Ltd., Plastic Systems Srl, Motan Group, Pinnacle Systems Inc., ACS Group, Conair Group, PMS Plastics cc, Maguire Products Inc., Comet Plastic Equipment LLC, Plastrac Inc., Gammaflux L.P., Coperion GmbH, Labotek A/S, Sterling Auxiliaries Pvt. Ltd., Universal Dynamics Inc., Davis Standard LLC.

Technological Advancements

• AI Integration: Companies are leveraging artificial intelligence (AI) to develop advanced products.
  • Example: LS Mtron Co Ltd. introduced AI Molding Assistant and Smart Weight Control systems in October 2022, enhancing injection molding efficiency through AI-driven process optimization.

Strategic Industry Movements

Notable Acquisitions and Market Expansions

• Piovan Group’s Acquisition: In December 2021, Piovan Group acquired IPEG Inc. to strengthen its presence in North America and expand its product offerings in the chiller segment.
  • Strategic Benefit: This acquisition allows Piovan to manufacture locally and access a broader customer base in the region.

Market Segmentation

Diverse Market Segments

• By Type: Conveying Equipment, Extrusion Equipment, Blending Equipment, Drying Equipment, Heat Transfer Equipment, Plastic Processing Robots, Size Reduction Equipment, Material Storage Equipment, Other Equipment
• By Molding Technique: Injection Technique, Blow Technique, Extrusion Technique, Compression Technique, Other Molding Techniques
• By Application: Food, Pharmaceutical, Automobile, Other Applications

Regional Insights

• Asia-Pacific Dominance: As of 2023, Asia-Pacific led the global plastic processing auxiliary equipment market, driven by robust industrialization and manufacturing activities.

Conclusion
The plastic processing auxiliary equipment market is evolving with technological advancements and increasing adoption across various industries. As demand grows for efficient and sustainable production processes, the market is poised for steady expansion. Innovations in AI, automation, and modular designs are reshaping the industry landscape, while strategic acquisitions and global expansions enhance market competitiveness. Looking ahead, continued investments in research and development will drive innovation, ensuring the market meets evolving industry demands effectively.

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The Plastic Processing Auxiliary Equipment Global Market Report 2024  provides an in-depth analysis on the plastic processing auxiliary equipment market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the plastic processing auxiliary equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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