Plastics processing machinery anticipated to have 6% annual growth rate, report says
The Freedonia Group, an industrial market research company, recently released a study “World Plastics Processing Machinery”, projecting an annual growth of 6% through 2015 to US$28.7 billion.
The report said sales growth will be driven by acceleration in plastic manufacturing output and by a favorable fixed investment environment worldwide. In addition, rising income levels, especially in developing nations, will spur demand for both plastic products and plastic packaging.
By category, extrusion machine will register the most gains through 2015, benefiting from growth in global construction spending, which will fuel demand for extruded products like pipe and siding, the report states. Meanwhile, injection molding machine will remain the largest segment, accounting for 40% of demand in 2015.
The study forecasts an above average gains for consumer/institutional products market, reflecting an improved standard of living. The packaging market will grow respectably due to rising manufacturing output and consumer demand for packaged products.
According to Freedonia, developing nations will be the driving force behind the growth for plastics processing equipment, in particular China, which should account for more than 40% of all additional demand through 2015 because of the country’s strong growth in plastics industry and increased income level. Other countries in Asia such as India, Vietnam and Thailand will also post healthy growth.
For developed countries, the report noted that Western Europe, the US and Japan will rebound after a period of decline but at a slower growth rate than developing countries.
Freedonia’s “World Plastics Processing Machinery” study covers six world regions and 30 countries and forecasts for 2015-2020 by product and primary application.
Source : www.adsalecprj.com