The Global Plastic Processing Equipment Market was valued at $34.8 billion in 2022 and is expected to grow at a CAGR of 4.1% from 2023 to 2029, reaching nearly $46.1 billion.

The emphasis on energy efficiency, automation, and precision in manufacturing processes drives the demand for technologically advanced plastic processing equipment while the increasing adoption of biodegradable and bio-based plastics fuels the need for specialized machinery to process these materials.

Geographically, North America is the largest market for plastic processing equipment, followed by Europe and Asia Pacific. The North American market is poised for continued growth in the coming years, driven by factors such as the robust manufacturing, technological advancements, and increasing demand for innovative plastic products. The US dominates the market in the region while Canada also contributes to market growth with its expanding manufacturing capabilities.

Major North America companies include…

1. Milacron Holdings Corp. (US)

2. Davis-Standard, LLC (US)

3. Graham Engineering Corporation (US)

4. Conair Group (US)

5. Husky Injection Molding Systems Ltd. (Canada)

International market highlights.

Europe is a mature market, characterized by established manufacturing industries and stringent quality standards. Germany is the largest market in the region, known for its advanced engineering and automotive sectors. Other key markets include the United Kingdom, Italy, France, and Spain.

The Asia Pacific region represents a significant growth plastic processing equipment market, propelled by the expanding industrial sectors in countries such as China, Japan, India, South Korea, and Southeast Asian nations. Rapid urbanization, industrialization, and increasing consumer spending power contribute to the demand for plastic products, leading to a parallel need for efficient processing equipment. The region is also witnessing a shift towards sustainable practices, driving the demand for recycling and environmentally friendly plastic processing equipment.

The Middle East and Africa region present growth opportunities for the plastic processing equipment market, driven by sectors such as construction, packaging, and automotive. Countries like the United Arab Emirates, Saudi Arabia, and South Africa exhibit robust industrial growth and infrastructure development, creating demand for plastic products and related machinery. The increasing focus on diversification and reducing dependence on oil-based economies further fuels the demand for plastic processing equipment in the region.

South America is an emerging plastic processing equipment market,

Key players globally include Engel Austria GmbH, Husky Injection Molding Systems Ltd., Sumitomo Heavy Industries Ltd., and Milacron Holdings Corp., among others.

Trends boosting plastic processing equipment.

One notable trend is increasing consumer demand for sustainable and eco-friendly solutions. This has prompted companies to introduce new product lines that utilize materials like biodegradable plastics and recycled polymers.

Another trend is the integration of smart technology into plastic processing equipment. Manufacturers are developing equipment with enhanced functionality and automation capabilities, enabling improved precision, energy efficiency, and connectivity.

There is also a trend towards customization and flexibility in plastic processing equipment. Companies are designing equipment that accommodates a wide range of materials, sizes, and production requirements. This allows manufacturers to adapt quickly to changing market demands and cater to diverse customer needs.

The report includes a breakdown by product type:

1. Injection Molding Machines

2. Extrusion Machines

3. Blow Molding Machines

4. Rotational Molding Machines

5. Thermoforming Machines

6. Others

And by material type:        

1. Polyethylene

2. Polypropylene

3. Polyvinyl Chloride

4. PET

5. Polystyrene

6. Others