Plastics processing machinery market to be worth USD28.9bn
These and other trends are presented in World Plastics Processing Machinery, ask a new study from The Freedonia Group, Inc., a Cleveland-based industry market research firm.
Gains in developing nations will be the driving force behind advances in the global market for plastics processing equipment. China, for example, will account for over 40 percent of all additional global demand through 2015, with growth stimulated by strong increases in plastic manufacturing as industrialization efforts continue and income levels rise. Other nations in Asia with smaller, less-developed economies, such as India, Vietnam and Thailand, will also record healthy market gains. In developed areas of the world, most notably the US, Western Europe and Japan, demand will rebound after a period of decline, although sales advances will not be as strong as those in developing nations.
Among major product types, extrusion equipment will post the strongest gains through 2015, benefiting from growth in global construction spending, which will fuel demand for extruded goods like pipe and siding. Injection molding equipment will remain the largest product segment, accounting for 40 percent of demand in 2015.
The construction market will post the strongest gains through 2015, benefiting from an acceleration in global construction spending. The consumer/institutional products market will also post solid gains, reflecting rising standards of living. The packaging market will post respectable gains due to rising manufacturing output and consumer demand for packaged products. In addition, plastic will continue to gain market share from other materials in applications such as bottles.
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