Transparency Market Research has published a new report "Plastic Packaging Equipment Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020" to its report store.
Albany, NY -- (SBWIRE) -- 10/15/2015 -- Plastic packaging is one of the most commonly used packaging materials today. From food to consumer goods and from pharmaceuticals to household goods, the versatility and durability of plastic packaging has led it to become a strong and rapidly growing market, expected to be worth about US$370 bn by 2020. Naturally, the global plastic packaging equipment market, consisting of the diverse machinery utilized in the production of plastic packaging materials, also has strong growth prospects.
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Plastic packaging equipment used in modern plastic packaging production plants offers a highly customizable production capacity of various kinds of plastic packaging. Since different types of plastic packaging needs to have a different set of physical properties, plastic packaging equipment is crucial. Major types of plastic packaging equipment used in the global industry are heat guns, L-bar sealers, shrink tunnels, bag sealers, fill and seal machines, shrink wrap systems, pallet stretch wrap systems, and shrink sleeve banding machines.
Food and Beverages Industry Dominates Demand from Plastic Packaging Equipment Market
Due to the sturdy and lightweight nature of plastic packaging, it is preferred in several end-use sectors, food and beverages being a major one among them. Another factor adding to the allure of plastic packaging for food and beverage manufacturers is the inertness of most plastic compounds to all but the most reactive food and beverages. This keeps food from spoiling, a crucial requirement in an age where globalization of food and beverages brands is a dominant trend.
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Plastic packaging also overcomes the brittle nature of glass, the erstwhile leader in food and beverages packaging. Sustained high demand for plastic packaging from the food and beverages industry is expected to keep the plastic packaging equipment market in vogue in the coming years. High demand for beverages is expected to keep primary plastic packaging equipment dominant in the market, since it is involved in the production of bottles.
Demand from Consumer Goods and Pharmaceuticals Industries Rising
The proliferation of the online retail sector in recent years has given the plastic packaging market an almighty boost. This has also rejuvenated the plastic packaging equipment market, since rising net literacy and purchasing power of the average global customer will ensure steady demand for plastic packaging from the online retail sector.
Innovation in plastic packaging such as the development of easy-open seals, rising research into kid-friendly plastics, and biodegradable packaging will shape the trajectory of the plastic packaging equipment market in the coming years, since all these types require a particular design and sometimes have distinct physical properties, calling for refined plastic packaging equipment.
Asia Pacific to Rise in Global Plastic Packaging Equipment Market
In 2013, North America held the highest share in the global plastic packaging equipment market. This was due to high demand for plastic packaging in virtually every industry and the high usage of online shopping. Due to the emergence of these very factors in recent years, Asia Pacific has risen in prominence in the global plastic packaging equipment market and will be a leading force in the coming years.
The long-established presence of major global players such as Robert Bosch GmbH, Accutek Packaging Equipment Co. Inc., Plastic Packaging Inc., and Schneider Packaging Equipment Co. Inc. will, however, keep North America as one of the dominant regional segments of the global plastic packaging equipment market.
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