Plastic Compounding Machinery Market Size, Share, Growth and Industry Analysis, By Type (Single Screw Extruders, Twin Screw Extruders, Kneaders and Mixtures), By Application (Consumer goods, Electrics and Electronics, Construction, Automotives, Aerospace and Others), and Regional Forecast to 2032

Updated On: 22 November 2024

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PLASTIC COMPOUNDING MACHINERY MARKET REPORT OVERVIEW

The Plastic Compounding Machinery Market Size was US$ 858.34 Mn in 2023 and is projected to touch US$ 1207.42 Mn By 2032, Exhibiting a CAGR of 3.47% During the Forecast Period.

They comprise a competitive analysis of this report because it is used in assessing key market competitors who hold large market stakes. The report extends specific information on business dynamics, growth and development of each market player, which aids the readers in understanding the competitor matrix. Some key factors that the report analyzes include technological developments, supply chain factors and other trends defining the Plastic Compounding Machinery market. More specifically, the report looks at important segments as North America, Europe as well as Asia Pacific where the market is most active currently.

This research also discusses how global challenges, like the world pandemic COVID-19 and regional conflict like Russia Ukraine war, affecting the market of Plastic Compounding Machinery. These factors have caused the globalization of supply chain as well as affected the prices for raw materials to compel the manufacturers to work under these environments. Besides the aforementioned threats, the report also explains new opportunities that are enabling companies in the market to improve their position.

GLOBAL CRISES IMPACTING PLASTIC COMPOUNDING MACHINERY MARKET - COVID-19 IMPACT

"Plastic Compounding Machinery Industry Had a Negative Effect Due to supply chain disruption during COVID-19 Pandemic"

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

Though lockdown restrictions have had a knock-on effect across many industries, the impact on the Plastic Compounding Machinery market has been vast. Destinations stays, shutdowns, and often volatile financial situations led to low sales across consumer verticals, including automotive and construction. But as the global economic cycle turned up, there was a similar uptick in demand for machinery, backed by rising industrial output and attempts to lengthen supply chains. Besides, the companies started improving the efficiency of their production functions, and looking for new markets hence resulting to more market growth.

LATEST TRENDS

"Automation is enhancing its role in manufacturing process to Drive Market Growth"

The Plastic Compounding Machinery market growth is experiencing rise in advanced machinery that decreases manual interaction for improved production. Today, enterprises are using smart manufacturing technology to accelerate its production process to get maximum efficiency from it. This is believed to have a continued impact on market growth within the next few years in line with industry’s growing automation trend.

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PLASTIC COMPOUNDING MACHINERY MARKET SEGMENTATION

By Type

• Single-Screw Extruders: They are well known due to the fact that they are cheap and easy to operate. They are ideal for use where simple compounding and extruding are the only essential processes to be carried out.

• Twin-Screw Extruders: Twin screw extruder is preferred in industries with specialized requirements since it excels in mixing and compounding this complex material.

• Kneaders & Mixers: These machines are used for compounding processes where the blending and kneading of the material is required to be uniform throughout the process, typically these are used for high value use applications, where the material is blended uniformly and then subjected to kneading process.

By Application

• Consumer Goods: This segment is significantly influenced by the need for long lasting and superior quality plastics in consumer products.

• Electrical & Electronics: Given that electronics manufacturing is now well developed, this industry has need for specialized plastic compounds to act as insulator and a cover.

• Construction: Pipes and fitting, which are the primary construction materials used in industries form a major chunk of the Plastic Compounding Machinery market.

• Automotive: BPCs being used in automobiles are mainly the lightweight plastic parts; this segment is on the rise due to fuel efficiency concerns.

• Aerospace: The aerospace industry uses high performance plastic compounds in its products due to the stringent requirements that are prescribed in this industry.

• Others: Others include packaging, medical and textile industries that require specific plastic products as their finishing material.

MARKET DYNAMICS

Market dynamics include driving and restraining factors, opportunities and challenges stating the market conditions

DRIVING FACTORS

"Higher utilization of light weight material due to rising demand in automotive industry"

The desire of car manufacturers across the world to trim weight in automobile to enhance fuel economy and meet emission standards is favoring growth in the industry for complex plastic material. This change in trend towards lightweight products is thus placing a strong emphasis on the development of Plastic Compounding Machinery to generate superior quality plastics for application in the automotive industry. The pressure to use lightweight materials is most felt in the automotive sector, where plastic is steadily replacing conventional heavy metals such as steel. Higher ‘lightweighting’ of vehicles reduces their fuel consumption rates, making demands for special compounding machinery rise.

"The Future of Base Metals and Plastic Processing"

Advancements in the plastic processing technologies like automation and the introduction of environmentally sustainable material has impacted the Plastic Compounding Machinery market. All these developments enable manufacturers to minimize wastage and maximize productivity, as businesses drive growth in the market for innovative and affordable innovations. Advancements to the actual machinery that is part of the manufacturing line, changes that can translate into better automation as well as the degree of precision that is possible are enabling manufacturers to further enhance process specifications. The coverage of environmentally friendly materials is also aiding to meet the required environmental standards, which creates new opportunities for market players and the machinery’s operation.

RESTRAINING FACTOR

"The flammable characteristics of FAEs acted as a restraint on market growth"

Investment required at the initial stages is quite high in order to start a given business. This presents a problem when it comes to acquiring and servicing specialized Plastic Compounding Machinery as this may lead to a significant expense for SMEs. This high cost helps to lock out new entrants and the level of growth in this market might be checked, especially in the developing world.

OPPORTUNITY

"The market expands on account of the rising demand for sustainable plastic materials"

High and rising levels of environmental consciousness, coupled with the implementation of more stringent measures by the governments, are pushing the consumption of more sustainable plastics. This shift is opening new opportunities for the Plastic Compounding Machinery market since manufacturers are interested in machinery to work with environmentally friendly plastic materials, such as biodegradable and recyclable materials. The probability rate envisaged for firms involved in the provision of sustainable plastic compounding solutions would improve on their market share and revenue potency in the next few years.

CHALLENGE

"They argued that high energy consumption restricts market penetration among American consumers."

This paper also reveals that the high energy demand makes the operations of Plastic Compounding Machinery expensive, particularly for the small firms in the industry. This poses a major problem to the growth of this market given that these require high amounts of energy in order to generate the necessary returns, more so in the developing world where costs of electricity are relatively high. Also, the strict legal requirements regarding the levels of carbon dioxide and energy consumption can additionally limit the development of the market because manufacturers are forced to purchase more efficient equipment, which can be expensive.

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PLASTIC COMPOUNDING MACHINERY MARKET REGIONAL INSIGHTS

North America

The market for Plastic Compounding Machinery in North America has already been established especially in the United States Plastic Compounding Machinery market. The United States enjoys the industriousness and high demand on automotive products along with consumer goods. Bribery from the governments towards sustainable manufacturing processes are pressuring companies to invest in better equipment, thus propelling the market.

Europe

This report mainly discusses the reason for the formation of Europe’s Plastic Compounding Machinery market on the background of standardization of environmental protection and concern about environmental protection. Thus, UK and Germany in particular are in the forefront when it comes to use of energy efficient machinery environmentally friendly. He added that construction and automotive are important segments that are driving demand in the Middle East especially with the region’s emphasis on lightweight and durable materials in a bid to reduce emissions.

Asia Pacific

The Asia Pacific has the highest growth rate in the Plastic Compounding Machinery market share and is followed by China and Japan. The increase in the number of industries, especially the usage of plastics in the consumer goods and electronics market has been a major driver to market growth. Notably, the significant growth especially in Chinese manufacturing industry and technological expansion is enhancing the demand towards sophisticated compounding equipment in different industry segments.

KEY INDUSTRY PLAYERS

Key Industry Players Shaping the Market Through Innovation and Market Expansion

Leading players in the Plastic Compounding Machinery market  have domestic and international operations. The major market players such as Useon (Nanjing) Extrusion Machinery, Comtec, Kraussmaffe Berstorff hold technological advantage as well as have good market shares in the machinery industry. For those firms, the product lines are continuously being refined with themes of energy efficiency, accuracy, and operation simplicity. Most of them have incorporated automation and digital technologies to sustain the competitive edge. They are also intensifying their efforts to go global through mergers, acquisition and strategic partnerships.

LIST OF MARKET PLAYERS PROFILED

• Useon (Nanjing) Extrusion Machinery (China)
• Comtec (Germany)
• Berstorff (Germany)
• Kairong (China)
• Everplast Machinery (Taiwan)
• Ikegai Corporation (Japan)
• Coperion (Germany)
• Everplast Machinery (Taiwan)
• JSW (Japan)
• Leistritz Extrusion Technology (Germany)
• Liansu (China)
• Mitsubishi Heavy Industries (Japan)

INDUSTRIAL DEVELOPMENT

June 2023: In recent years growing trends can be noticed in the Plastic Compounding Machinery market such as Automation and environment friendly machineries. The application of AI and IoT technologies is getting more significance as corporations try to apply them to their equipment to enhance the effectiveness of the production line. Furthermore, with increasing consciousness about the environmental impact of manufacturing processes, development of energy efficient machinery is aiding manufactures to meet increasingly strict environmental compliances, adding to the robust competitiveness among the industry.

REPORT COVERAGE

The historical data between 2019 and 2023 are also given in this report to give a clear understanding of the market by the Plastic Compounding Machinery market players and purchasers. It provides information on the market’s prominent trends, growth factors, threats, and prospects. In addition, segmentation data such as product type and application, along with data by region, are presented systematically for the convenience of readers and to facilitate informed decision making for stakeholders.

The study also presents a SWOT analysis about the key players in the market along with the company profile, sales, revenue, and market share analysis. Furthermore, it provides the description of the leading industry trends, such as futuristic technology, supply constraints, and the regulations influencing the market. It also mentions how the market is phasing out from COVID-19 and its future scenario in view of present geopolitical crises.