Global Plastic Processing Machinery Market 2018-2022 | Increasing Adoption of Automated Machines to Boost Demand | Technavio
LONDON--(BUSINESS WIRE)--Jan 3, 2019-- analysts forecast the global plastic processing machinery market to grow at a CAGR of over 3% during the forecast period, according to their latest market research report.
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Technavio forecasts the global plastic processing machinery market to grow at a CAGR of over 3% by 2022. (Graphic: Business Wire)
Implementation of additive manufacturing is one of the major trends being witnessed in the . The manufacturing industry has witnessed a revolutionized technology in 3D printing, also known as additive manufacturing. In manufacturing, 3D printing has become useful in recent years especially, in injection molding. Companies prefer using a 3D printer to create a part, from a model or a Cowing. 3D printing parts can be created within 20 minutes to 48 hours, depending on the size and complexity of the part.
According to Technavio analysts, one of the key factors contributing to the growth of the global plastic processing machinery market is the increasing adoption of automated machines:
Global plastic processing machinery market: Increasing adoption of automated machines
The plastic processing process is being mechanized, various steps are being initiated by vendors to produce automated plastic processing machines. The need to integrate automated machines in the process line has increased owing to the growing need to meet market demands for optimized flexibility and personalization, in terms of product design and precision. Individual standalone machines can now be adopted in the production line using automated software; this enables large industrial plants to partially shift toward unmanned production processes hence ensuring high performance with low human resource requirement and less scope for human error.
According to a senior analyst at Technavio for research on unit operations, “Robots are being used to enhance plastic processing. For example, automated IMM are equipped with robots that aid in easy removal of manufactured plastic parts. Additionally, they have features such as efficient temperature control systems that support rapid cooling of the product. Moreover, plastic processing machines are equipped with PLC and controllers, which communicates to a human-machine interface through communication protocols. In addition, servo drives are integrated with plastic processing machines to synchronize conveyor movement. All these benefits provided by automated machines have resulted in an increase in demand for such machines in plastic processing and this trend is expected to continue during the forecast period.”
Global plastic processing machinery market: Segmentation analysis
The global plastic processing machinery market research report provides market segmentation by product (IMM, extrusion machine, and BMM), by end-user (packaging, construction, and automotive), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The packaging segment held the largest market share in 2017, accounting for over 42% of the market. This end-user segment is expected to dominate the global market throughout the forecast period.
APAC led the market in 2017 with a market share of nearly 45%. This region is expected to dominate the market through 2022.
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Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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INDUSTRY KEYWORD: MANUFACTURING CHEMICALS/PLASTICS
SOURCE: Technavio Research
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PUB: 01/03/2019 08:54 AM/DISC: 01/03/2019 08:54 AM