April 26, 2024 04:52 ET | Source: Research and Markets Research and Markets
Dublin, April 26, 2024 (GLOBE NEWSWIRE) -- The "Plastics Processing Machinery - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering. Global Plastics Processing Machinery Market to Reach $32.7 Billion by 2030 The global market for Plastics Processing Machinery estimated at US$22.5 Billion in the year 2022, is projected to reach a revised size of US$32.7 Billion by 2030, growing at a CAGR of 4.8% over the analysis period 2022-2030. aluminium c profile
The rise of plastics and its widespread usage in the 21st century form the cornerstone for the expansion of plastic processing machinery. Amid dynamic factors, the global economic update and manufacturing PMI serve as crucial indicators. This machinery, encompassing various types like injection molding machines and extrusion machinery, anticipates stable demand in the near to mid-term. Injection molding machines see improved growth, while extrusion machinery benefits from a resurgence in construction activity and demand from medical and packaging sectors.
Injection Molding Machines, one of the segments analyzed in the report, is projected to record a 5.1% CAGR and reach US$14.3 Billion by the end of the analysis period. Growth in the Extrusion Machines segment is estimated at 5.4% CAGR for the next 8-year period.
The packaging industry, driven by high demand, faces challenges amidst the pandemic, impacting sectors like building and construction, automotive, and consumer electronics. Developing economies contribute to market growth, reflecting a competitive landscape with strong, active, and niche players. Recent market activity underscores ongoing innovations and technology trends in the sector. The U.S. Market is Estimated at $4 Billion, While China is Forecast to Grow at 5.8% CAGR The Plastics Processing Machinery market in the U.S. is estimated at US$4 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$10.7 Billion by the year 2030 trailing a CAGR of 5.8% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3% and 4% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 3.6% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$5.4 Billion by the year 2030. Key Attributes:
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