Global Plastic Processing Machinery Market is expected to reach USD 43.7 billion by 2025. Plastic is a material with very large molecules considered by low melting points, light weight, high strength-to-weight ratios, and high corrosion resistance. Plastic Processing Machinery is also termed as plastic forming machine, or plastic molding machine is a machinery that uses plastic resins to manufacture final plastic products using blow molding and casting, compression molding, injection molding, and extrusion molding. The plastic resins used may be recycled or new. The plastic processing machinery market is estimated to grow at a significant CAGR over the future period as the scope and its applications are rising enormously across the globe.
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Rising demand for packaged products like food and beverages and development of enhanced packaging equipment are documented as major factors of Plastic Processing Machinery Market that are estimated to enhance the growth in the years to come. However, strict government policy regarding use of plastic and its harmful effects on surrounding may restrain overall market growth in the coming years. Plastic Processing Machinery industry is segmented based on product type, end users, and region.
Rotational Molding Machine, Injection Molding Machine, Extrusion Molding Machine, Blow Molding Machine, and Compression Molding Machine are the product types that could be explored in Plastic Processing Machinery in the forecast period. The injection molding machine (IMM) sector accounted for the largest market share and is estimated to lead the overall market in the coming years. This may be because of high demand from manufacturers producing injection molding parts.
The market may be categorized based on end users like consumer goods, construction, packaging, automotive, and others that could be explored in Plastic Processing Machinery in the foremost period. The packaging sector accounted for largest market share and is estimated to lead the overall market in the coming years. This may be because of high demand for packaged food like ready-to-eat meals, breakfast cereals, and baked foods.
Globally, Asia Pacific accounted for the largest market share of Plastic Processing Machinery and is estimated to lead the overall market in the coming years. The reason behind the growth of overall market could be availability of land along with skilled labor at low cost and expansion of industries like electronics, construction, and automotive. The developing countries like India and China are the major consumer of Plastic Processing Machinery in the region.
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