Plastic Processing Auxiliary Equipment Market Size, Share And Growth Analysis For 2024-2033

The Business Research Company's Plastic Processing Auxiliary Equipment Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, August 8, 2024 /EINPresswire.com/ -- The global plastic processing auxiliary equipment market has demonstrated steady growth, expanding from $7.06 billion in 2023 to $7.31 billion in 2024, with a compound annual growth rate (CAGR) of 3.6%. It will grow to $8.54 billion in 2028 at a compound annual growth rate (CAGR) of 3.9%. This growth is attributed to a surge in the plastic manufacturing industry, globalization of plastic production, stringent regulatory compliance, packaging industry expansion, and recycling initiatives.

Increasing Demand from the Automotive Industry Drives Market Growth
The automotive industry is a significant driver of the plastic processing auxiliary equipment market. Plastic processing equipment is vital for optimizing manufacturing processes, ensuring material quality, and producing plastic components used in vehicles. For instance, vehicle production in the United States increased to 11.77 million units in July 2023, up from 10.91 million units in June 2023, highlighting the sector's robust growth and its impact on equipment demand.

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Key Players and Market Trends
Key players such as Piovan Group, Shibaura Machine Co. Ltd., and Wittmann Technology GmbH are advancing technological innovations to maintain their competitive edge. For example, in October 2022, LS Mtron Co. Ltd. launched AI Molding Assistant and Smart Weight Control—AI-based systems designed to enhance molding efficiency and accuracy.
In a strategic development, advanced technologies like AI and robotics are increasingly integrated into plastic processing auxiliary equipment. These innovations focus on improving process automation, remote diagnostics, and custom solutions for diverse applications.

Segments:
• Type: Conveying Equipment, Extrusion Equipment, Blending Equipment, Drying Equipment, Heat Transfer Equipment, Plastic Processing Robots, Size Reduction Equipment, Material Storage Equipment, Other Equipment
• Molding Technique: Injection Technique, Blow Technique, Extrusion Technique, Compression Technique, Other Molding Techniques
• Application: Food, Pharmaceutical, Automobile, Other Applications

Geographical Insights: Asia-Pacific Leading the Market
Asia-Pacific led the plastic processing auxiliary equipment market in 2023 and is expected to be the fastest-growing region. The comprehensive report provides detailed insights into regional dynamics, market trends, and growth opportunities.

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Plastic Processing Auxiliary Equipment Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Plastic Processing Auxiliary Equipment Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on plastic processing auxiliary equipment market size, plastic processing auxiliary equipment market drivers and trends, plastic processing auxiliary equipment market major players, competitors' revenues, market positioning, and market growth across geographies. The plastic processing auxiliary equipment market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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