At a CAGR of 5.9% from 2023 to 2033, the worldwide plastic granulators market is anticipated to reach US$ 1.14 billion in 2023. The plastic granulators market is anticipated to reach US$ 2.03 billion in 2033. Due to rising demand for plastic granules across a variety of end-use industries, the plastic granulators industry has expanded.
One of the key drivers of the market growth for plastic granulators is the rising adoption of plastic recycling practises. As more businesses and governments put their attention on reducing plastic waste and promoting sustainability, it is anticipated that demand for plastic granulators will rise.Due to the growing demand for plastic products in sectors like packaging, construction, automotive, and electronics, plastic granulators are expected to be in high demand.
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The Growth Blueprint: Inspecting the Vital Factors
- The Need for Recovered Plastics is Expanding
Recycled plastics are in great demand across a variety of industries due to growing environmental sustainability consciousness. By turning plastic waste into reusable granules that may be used to create new plastic items, plastic granulators are essential to the recycling process. The market is anticipated to be driven by this need for recovered plastics.
- Circular Economy is Garnering Notable attention.
Global acceptance of the circular economy idea, which calls for resources to be recycled and reused in a closed-loop system, is growing. The circular economy depends on plastic granulators because they make it possible to recycle and repurpose plastic trash. The market is anticipated to raise as interest in circular economy principles increases.
- Technological Progress
Technological developments have been made in the plastic granulator business to increase productivity, reduce energy use, and automate processes. Plastic granulators have been effective thanks to advancements including high-speed granulators, integrated shredding systems, and intelligent control systems. These advancements have decreased production costs and improved overall performance.
Hurdles to Growth: Unveiling the Factors Limiting the Advancements
- Price Volatility for Raw Materials
Raw materials used in plastic granulation, including virgin plastics or plastic waste, can have a substantial impact on pricing. Manufacturers of plastic granulators may experience decreased profitability as a result of fluctuating raw material costs, which also makes it difficult for them to keep their product prices competitive.
- Environment-related Issues
Plastic waste must be processed and recycled in the process of plastic granulation, which may have an impact on the environment. Although it is advantageous to recycle plastic, there are issues with energy use, pollutants, and waste produced during the granulation process. The market for plastic granulators may face difficulties due to strict environmental restrictions and the requirement for sustainable practices.
Key Takeaways
- North America is anticipated to dominate the market between 2023 and 2033.
- The market with the speedy predicted growth may be in Asia Pacific region.
- During the predicted period, moderate growth is anticipated in Latin America.
Competitive Outlook
Numerous businesses are striving for market share in the very competitive plastic granulators industry. There are several local, regional, and worldwide plastic granulator manufacturers, which define the market. To address the rising need for plastic granulators, businesses are concentrating on creating new and inventive products. To enhance the effectiveness and performance of their products, they are making investments in research and development efforts.
Key Companies
- Yenchen Machinery
- Adler S.r.l.
- Shini
- Zerma
- Summit Systems
- Comet Plastic Equipment
- Nordson Corp
- Coperion
- Gala Kunststoff- und Kautschukmaschinen
- Herbold Meckesheim
- Matsui Mfg
- Rapid Granulator
- Reduction Engineering Scheer
Key Segments:
· By Type :
- Double Angle Cut
- Chevron Cut
- Helical Cut
· By Application :
- Automotive
- Medical Industry
- Food & Beverage Industry
- Consumer Goods Industry
- Electronics & Telecom Industry
- Packaging
- Others
· By Region :
- North America
- Latin America
- Europe
- Asia Pacific
- East Asia
- The Middle East & Africa
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Key Questions Covered in the Plastic Granulators Market Report
- What will be the estimated size of the Market in 2023?
- At what rate will the global Plastic Granulators sales grow until 2033?
- Which are the factors hampering the Plastic Granulators demand?
- Which region will spearhead the growth in the global industry by 2033?
- Which are the factors driving sales in the Plastic Granulators Market during the forecast period?
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