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Plastic Processing Auxiliary Equipment Market
According to a new market research report titled , ‘ Plastic Processing Auxiliary Equipment Market by Type ( Batch Blenders , Extrusion Controllers , Chillers , Granulators , Robots ), Molding Technique ( Injection , Blow ), Sector ( Automotive , Food & Beverage , Packaging , Construction ) Global Forecast to 2030 ,’ the plastic processing auxiliary equipment market is expected to reach $ 9 billion by 2030 , at a CAGR of 3.5 % from 2023 to 2030 . In the plastics processing industries , auxiliary equipment is peripheral equipment used to improve and optimize the plastic process efficiency and ease of operation . Auxiliary equipment are used for various processes such as extrusion , injection molding , drying , heat transfer , size reduction , and blending . It is an integral part of plastic processing as the quality of the product depends on the automation and rationalization of plastic process auxiliary equipment . Plastic products are widely used in various industries such as automotive , construction , packaging , healthcare , and food industry , among others . The increasing demand for plastics in healthcare , automotive , consumer goods , and packaging industries is the main parameter supporting the market ’ s growth . The high consumption of packaged foods is increasing the requirement for plastics , boosting the demand for plastic processing auxiliary equipment . The growth of this market is driven by the high demand for plastics across industries and economic growth and improving living standards . In addition , the proliferation of advanced plastic recycling techniques is expected to create growth opportunities for the players operating in this market . The Covid-19 pandemic had a mixed impact on various industries . The use of plastics significantly increased in the healthcare sector due to the high adoption of face masks and other personal protective equipment . The healthcare and
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e-commerce industries increased the utilization of plastics for personal protective equipment and packaging , respectively , whereas the use of plastics in the automotive and construction industries declined due to operational challenges and diminished demand for the final products . Overall , the Covid-19 pandemic negatively impacted the plastic processing auxiliary equipment market due to low demand for plastic among end-use industries . The plastics industry is focusing on research and innovation to explore alternative materials and bioplastics , which will help reduce plastic waste and pollution . Recycling is a major new end market opportunity ( Nemo ). Advanced plastics recycling , or chemical recycling , refers to various technologies that convert post-use plastics into their original building blocks , specialty polymers , and feedstocks for new plastics , chemical products , waxes , and other non-fuel products . Advanced recycling methods complement the mechanical recycling used by most companies . Mechanical recycling is the most effective method , providing high-quality , relatively clean sorted waste . However , structural limitations , such as limited pools of appropriate feedstock and changes in material properties , limit the plastics ’ end-market applications . However , advanced recycling can expand the types of recyclable plastics and produce plastics that have tailored molecular weight distributions and comonomers suited for highvalue applications , such as flexible |
packaging for food . However , the recycling capacities are limited , as many of these technologies are still developing and scaling . Developing advanced recycling techniques is expected to drive the demand for plastic processing equipment , including auxiliary equipment , creating growth opportunities for the players in this market . |
Based on type , the plastic processing auxiliary equipment market is segmented into blending equipment , extrusion equipment , conveying equipment , drying equipment , heat transfer equipment , material storage equipment , size reduction equipment , and other equipment . In 2023 , the conveying equipment segment is expected to account for the largest share of the global plastic processing auxiliary equipment market . The conveying system offers various benefits to companies , such as automatic material transfer , labor savings , reduced spillage / wastage , consistent material feeding , and a modular system . However , plastic processors highly use blenders as it requires lower-cost materials and consumes regrind more efficiently , due to which there is a growing demand for blending equipment . As a result , the blending equipment segment is expected to register the highest CAGR during the forecast period . |
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