Roto Molding Machines Market is projected to Reach US$ 1,089 Million by 2030, at a CAGR of 2.9% during the forecast period 2023-2030, Data By Contrive Datum Insights
Contrive Datum Insights Pvt Ltd
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Contrive Datum Insights Pvt Ltd
According to a market research study published by Contrive Datum Insights, North America is expected to account for the largest revenue share during the forecast period, Asia Pacific is expected to register significant revenue CAGR during the forecast period
Farmington, March 19, 2023 (GLOBE NEWSWIRE) -- The Roto Moulding Machines Market is estimated at US$ 890 Million in 2022 and is projected to reach US$ 1,089 Million by 2030, at a CAGR of 2.9% from 2022 to 2030. In this study, we looked at some of the most important trends in the growth of the global roto molding machine market. Rotational molding tools have gotten a lot of attention because manufacturers are trying to find the best ways to cast and shape things. Aside from this, molding and casting need to be done well because people want well-finished designs made from market goods, especially plastics. It's important to note that the coronavirus pandemic has stopped manufacturing and industrial activities. So, the market for rotary molding machines around the world was also shaken up during this time. But as borders open and prevention gets better, the demand for rotational molding machines is likely to rise again.
In August 2021, Ferry Industries, Inc., a leading manufacturer of rotational molding machines, announced the launch of a new series of machines dubbed "NEXUS" that include advanced features such as touchscreen control, automation and energy-efficient technology.
In June 2021, The Japan Steel Works Ltd. (JSW) announced that it had developed a new large roto forming machine capable of forming products up to 3 m in diameter and up to 9 m in length.
In March 2021, Italian rotational molding machine manufacturer Persico Group acquired US-based rotational molding machine manufacturer STP Rotomachinery. The acquisition was expected to strengthen Persico Group's position in the North American market.
In February 2021, Rotational Molding Inc., a US-based rotational molding company, announced that it has invested in a new Ferry rotational molding machine that will enable the company to increase production capacity and reduce lead times.
Roto Molding Machines Market Dynamics:
Drivers
Rapid industrialization and growing demand for industrial tanks and containers from different industries are two things that are expected to drive market revenue growth. Rotational molding machines are in high demand because more and more people want to buy plastic goods. People are buying more unique chairs, sofas, benches, and other furniture pieces because their tastes are changing and they have more money to spend. Also, more study and technological progress are leading to the creation of more advanced and cost-effective molding machines around the world. The demand for rotational molding machines is also being driven by growth in the automotive industry, the building industry, and sports and playground equipment. This is expected to drive the market's revenue growth over the next few years.
Restraints
Some of the main things that could slow the growth of the market are strict rules from the government about how much energy and power rotational molding machines can use. Some of the other things that are likely to slow the growth of market revenue are the availability of workers and the high cost of raw materials caused by lockouts and the closing of manufacturing sites. Installing a casting machine costs a lot of money at first. Also, these tools can be used in factories to make a wide range of materials using only a small number of raw materials. Over the next few years, these factors are likely to slow the market's income growth by a large amount.
Opportunities
More and more governments around the world are trying to use plastic items to meet the growing demand for easy-to-use goods. As home decor becomes more important, more partnerships are being made with key market players to make goods that look good and are nice to look at. Also, the growing need to solve business problems is likely to give key players and the market new ways to grow.
Regional Outlook:
During the forecast period, North America is expected to bring in the most money. This is because the plastics manufacturing industry in big countries like the US and Canada is growing quickly. Rotational molding machines are likely to be in higher demand in the area because technology is getting better, more leisure products and sports equipment are being made, and people want high-quality materials. Rotational molding tools are also in high demand because the chemical industry is growing quickly and more and more high-quality containers and industrial equipment are being made. Due to a growing population, rapid urbanization, and more industrialization, Asia Pacific is projected to have a high CAGR in revenue over the next few years. More people want packaging and plastic goods because their tastes are changing and they like things that are easy to use. Also, the number of cars, toys, and household things is growing because people have more money and can buy more. The sales of rotational molding machines in the region are likely to grow because of these key reasons.
Top Market Players: Polivinil Rotomachinery, NAROTO, M. Plast (India) Limited, Caccia Engineering S.r.l., Clips Poly Engineering, Reinhardt Roto-Machines, and Others.
By Type:
5 Work Areas
6 Work Areas
By Application:
Chemical Industry
Pharmaceutical Industry
Food Industry
Electronics Industry
Others
Regions and Countries Covered
North America: (US, Canada, Mexico, Rest of North America)
Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
Latin America: (Brazil, Argentina, Rest of Latin America)
Rest Of the World
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