Rockville, May 16, 2023 (GLOBE NEWSWIRE) -- At a CAGR of 5.9% from 2023 to 2033, the global plastic granulators market is to increase to US$ 1.14 billion in 2023. The plastic granulators industry is to reach US$ 2.03 billion by 2033. The plastic granulators business has expanded as a result of the growing demand for plastic granules across a variety of end-use industries.
The plastic recycling industry greatly depends on the plastic granulator market. Plastic waste is broken down into small pieces or granules by machines called plastic granulators, which can then be utilized in different manufacturing processes. The need for recycled plastics, government laws, environmental concerns, and technical breakthroughs are just a few of the variables that have an impact on the plastic granulator market.
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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.
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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
Latest Advancements
- In collaboration with the Scudieri family, FSI purchases 28% of Adler Group.
The FSI Mid-Market Growth Equity Fund and Adler Plastic, owned by the Scudieri family, entered into a legally binding agreement for a collaboration aimed at enhancing Adler Group's global leadership.
- New Shini facility in Hanoi, Vietnam
The groundbreaking ceremony for a new facility in Hanoi was held by Shini on October 4th, 2022. We have observed in recent years that Vietnam's economy has maintained strong growth and has evolved into a crucial player in global economic development. In 2018, Shini decided to open its first branch office and warehouse, CONG TY TNHH VSP VIET NAM, to better serve customers in the regional market.
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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