Plastic Processing Auxiliary Equipment Global Market Report 2023

Apr 30, 2024

Major players in the plastic processing auxiliary equipment market are Piovan Group, Shibaura Machine Co. Ltd., WITTMANN Technology GmbH, Woywod Kunststoffmaschinen GmbH & Co. Vertriebs-KG, Kawata Mfg Co.

New York, Aug. 04, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Plastic Processing Auxiliary Equipment Global Market Report 2023" - https://www.reportlinker.com/p06479815/?utm_source=GNW Ltd., Bry-Air Pvt Ltd., Reynold India Pvt. Ltd., Maillefer SA, Moretto SpA, Matsui America Inc., Sterling Auxiliaries Pvt. Ltd., Novatec Inc., Werner Koch Maschinentechnik GmbH, Absolute Haitian Corporation, Guanxin Plastic Machinery Co. Ltd. and Vector Injection Ltd.The global plastic processing auxiliary equipment market is expected to grow from $6.84 billion in 2022 to $7.06 billion in 2023 at a compound annual growth rate (CAGR) of 3.29%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The plastic processing auxiliary equipment market is expected to reach $8.14 billion in 2027 at a CAGR of 3.61%.The plastic processing auxiliary equipment market includes revenues earned by entities by providing machinery including loaders, receivers, chillers, and hoppers among others.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.The value of goods in this market includes related services sold by the creators of the goods.Plastic processing auxiliary equipment refers to a broad category of machinery and devices that support the plastic processing industry. Plastic processing auxiliary equipment is used in various processing lines to optimize production, ensure high-quality products, and support the extrusion, injection molding, or blow molding process.Asia-Pacific was the largest region in the plastic processing auxiliary equipment market in 2023. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.The main plastic processing auxiliary equipment types are conveying equipment, extrusion equipment, blending equipment, drying equipment, heat transfer equipment, plastic processing robots, size reduction equipment, material storage equipment, and others.A conveying system is a system for moving things across a space automatically.The various molding techniques are injection technique, blow technique, extrusion technique, compression technique, and others applied in food, pharmaceutical, automobile, and others.The growing demand for plastic processing auxiliary equipment is expected to propel the growth of the plastic processing auxiliary equipment market going forward.Plastic equipment refers to machinery used for manufacturing and processing plastic products.Plastic processing auxiliary equipment is essential in various production lines to improve product quality, increase strength, and support extrusion, injection molding, or machine molding processes. For instance, in March 2023, the Plastics Industry Association’s (PLASTICS) Committee’s Equipment Statistics (CES) report, a US-based committee, revealed that in the fourth quarter of 2022, the shipments of plastics machinery in North America rose by 22.3%, amounting to $432.7 million. This was an overall increase of 4.4% compared to 2021. The most significant increase was in the value of single-screw extruders, which rose by 34.6%, followed by injection molding shipments which increased by 25.0%. Twin-screw extruder shipments increased by 8.9%. Therefore, the growing demand for plastic processing equipment is driving the growth of the plastic processing auxiliary equipment market going forward.Advanced technologies are a key trend gaining popularity in the plastic processing auxiliary equipment market.Companies operating in the plastic processing auxiliary equipment market are launching advanced technological products based on artificial intelligence to sustain their position in the market.For instance, in October 2022, LS Mtron Co Ltd., a South Korea-based heavy machinery and electronic components manufacturer company launched AI Molding Assistant and Smart Weight Control, which are artificial intelligence (AI)-based smart injection systems. The AI Molding Assistant uses AI technology to learn and imitate the behavior of skilled molding specialists, reducing the time required to stabilize the initial molding setup process. Smart Weight Control detects product weight changes and adjusts processing conditions in real-time to ensure correct specifications are met.In February 2020, Wittmann Group, an Austria-based manufacturer of injection molding machines and auxiliary equipment, acquired FarragTech GmbH for an undisclosed amount.This acquisition will expand Wittmann’s product portfolio and strengthen its presence in the European market for plastics processing equipment.FarragTech GmbH is a German manufacturer of temperature control equipment and chillers for the plastics processing industry. FarragTech specializes in plant engineering for the plastic processing industry, particularly in the auxiliary equipment sector, with a strong focus on compressed air granulate drying within its product range.The countries covered in the plastic processing auxiliary equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resale along the supply chain, either further along the supply chain or as part of other products.The plastic processing auxiliary equipment market research report is one of a series of new reports that provides plastic processing auxiliary equipment market statistics, including plastic processing auxiliary equipment industry global market size, regional shares, competitors with a plastic processing auxiliary equipment market share, detailed plastic processing auxiliary equipment market segments, market trends and opportunities, and any further data you may need to thrive in the plastic processing auxiliary equipment industry. This plastic processing auxiliary equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.Read the full report: https://www.reportlinker.com/p06479815/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.__________________________