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The global plastic processing equipment market is fragmented in nature and few key global players hold a large market share. Asia Pacific is the most mature plastic processing equipment market. This market in Asia Pacific is expected to exhibit the fastest growth rate during the forecast period, due to the strong presence of the plastic processing industry in the region. Additionally, rising demand for plastic material-based products in all industries, along with adoption of injection molding and extrusion machinery, has resulted in the growth of the Asia Pacific plastic processing equipment market. Global companies such as Milacron, Lung Chang Machinery Enterprise Co. Ltd., and American Screw & Barrel, Inc. hold significant share of the global plastic processing equipment market. These companies are already major players in Asia Pacific, and expanding their presence across the globe.

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Windsor Feedscrews Inc. and Canadian Feed Screws Mfg. Ltd. are other corporations holding key share of the global plastic processing equipment market. Increasing usage of plastic-based products in industries such as packaging and consumer goods is driving the demand for plastic processing equipment. Global plastic processing equipment companies are developing innovative designs to target users across the globe to enter unexplored markets and gain further opportunities.

Overview of Global Plastic Processing Equipment Market

Plastics are used in a wide variety of products, and have displaced other materials such as wood, metal, and glass in several industrial and consumer goods. Plastics can be formed into polyesters for usage in fabrics and textiles, polyvinylidene chloride for food packaging, and polycarbonates for eyeglasses and compact discs. Depending on their structural characteristics, performance features, and durability, plastic products can be used for industrial or commercial applications.

Plastic is a crucial material in everyday life. Key players are providing eco-friendly plastic materials due to advancements in plastic materials.

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The global plastic processing equipment market is projected to grow, owing to rising demand for plastic material-based products in all industries, along with adoption of plastic processing machineries such as extrusion and injection molding. Key market segments in plastic processing equipment market are product, material, industry, application, and sales channel.

Two-fold Increase in Plastic Materials Production by 2050 to Augment Plastic Processing Equipment Market

Plastics are used in maximum number of applications. Production is forecast to more than double by 2050, increasing to 756 million tons from 308 million tons produced in 2018. The demand for plastics is increasing gradually, leading to high requirement for machines that can process raw materials at high speed, accuracy, and with low material wastage. This is one of the key driving factors for the growth of the plastic processing equipment market.

Plastic processing equipment is utilized in different industries such as automotive, construction, technical molding, household, aerospace, electrical, caps & closures, packaging, and consumer goods.

Increase in Adoption of Extrusion and Injection Molding in Global Plastic Industry

Rise in adoption of extrusion and injection molding in the global plastic industry has led to an increase in the number of extruded and injection molded plastic products, which are subsequently driving the demand for feed screw barrels. Extrusion and injection molding offers numerous advantages over other methods of plastic tooling. Plastic products can be produced quickly and at high volumes, ensuring speed and cost-efficiency, as extrusion and injection molding are relatively inexpensive compared to other molding processes. Manufacturers are opting for this method to produce durable products at low cost.

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However, Europe and North America are also producing significant share of plastic products of about 500 tons, which is also expected to sustainably grow over the next few years and gain demand for plastic processing equipment.

Analysis of Key Players in Plastic Processing Equipment Market

Detailed profiles of providers of plastic processing equipment have been provided in the report to evaluate their financials, key product offerings, recent developments, and strategies. Majority of firms are spending significantly on comprehensive research and development, primarily to develop innovative products. Diversification of product portfolios and mergers & acquisitions are the key strategies adopted by prominent players.

Stakeholders operating in the global plastic processing equipment market are Milacron, American Screw & Barrel, Inc., Canadian Feed Screws Mfg. Ltd., Lung Chang Machinery Enterprise Co. Ltd., W-J Incorporated, and Concor Tool and Machine Inc.

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