The North American rotational molding machines market held a prominent position in the global industry in 2022, representing over a quarter of the total market share. This regional dominance is expected to continue throughout the forecast period. Within North America, the United States stands out as a key player, accounting for a remarkable 89% of total sales in 2022.
The strong presence of chemical industries and market leaders expanding their operations for rotomolded containers drive this market domination. The United States, being the world’s third-largest chemical producer with $488 billion in sales in 2020, benefits from the chemical industry’s growing production and international trade, thereby increasing the demand for rotational molding machines.
According to Future Market Insight, the rotational molding machines market could be worth US$ 1,321 million by 2033, compared to US$ 918.7 million in 2023. The market is likely to register a moderate CAGR of 3.7% over this evaluation period.
Two key factors are anticipated to propel market revenue growth. Rapid industrialization and rising demand from various sectors for industrial tanks and containers. Given the growing popularity of plastic products, rotational molding machines are in great demand.
The preferences of every individual are evolving due to the increase in spending. Therefore, they are purchasing more distinctive chairs, couches, benches, and other furniture items. The development of more sophisticated and affordable molding machines is also being facilitated globally by increased research and technological advancement.
Learn about the contribution of each segment of the market. Read a Sample Report:
https://www.futuremarketinsights.com/reports/sample/rep-gb-5757
Growing customer demand for distinctive furniture components is being fueled by shifting consumer preferences and rising disposable income. Given increased research activity and technological breakthroughs, innovative and affordable molding machines are also being produced globally. In addition, expanding markets for sports and playground equipment as well as the automotive and construction sectors are driving demand for rotational molding machines.
The expansion of the building, construction, and sports and playground equipment industries is also fueling the demand for rotational molding machines. Moreover, to address the rising demand for products that are easy to use, several governments are attempting to adopt plastic products.
Partnerships with significant players in the market are increasing as the importance of home décor grows to provide visually appealing things. Also, leading companies are anticipated to find new ways to expand given the increased demand to solve business difficulties.
There have been identified numerous significant trends that are projected to contribute to market growth. Rotational molding machines have come under the limelight given the several end-use industry’s searches for highly efficient casting and molding methods. Also, the desire for well-finished designs for consumer goods drives the demand for efficient molding and casting.
Key Takeaways
- The rotational molding machines industry in the United Kingdom is anticipated to exhibit a CAGR of 2.1% through 2033.
- The United States dominated the rotational molding machines market in 2022 holding a 23.7% share of the global market.
- Exhibiting a CAGR of 4.9% over the forecast period, the rotational molding machines market in India is predicted to develop rapidly.
- The sales of rotational molding machines in China are expected to register a CAGR of 4.6% over the forecast period.
Competitive Landscape:
Rotational molding machine manufacturers are creating sophisticated, automated machines with enhanced accuracy, efficiency, and safety features. To comply with environmental standards and client needs for eco-friendly solutions, they are also concentrating on combining sustainable materials and energy-saving technology. Moreover, manufacturers are growing their global footprint and providing customizable possibilities. To accommodate a variety of applications across sectors.
Ask an Analyst: https://www.futuremarketinsights.com/ask-the-analyst/rep-gb-5757
Recent Developments:
Ferry Industries, Inc. stated in August 2021 that it intends to launch a new range of machinery under the name NEXUS. Modern components like touchscreen control, automation, and energy-saving technologies are going to be found in these machines.
In March 2021, the Italian business Persico Group acquired STP Rotomachinery. A manufacturer of rotational molding equipment with headquarters in the United States. Persico Group hopes to increase its position in North America with the takeover.
Rotational Molding Machines Market by Category:
By Product Type:
- Carousel
- Rock & Roll
- Shuttle
- Up & Over
- Clamshell
By Application:
- Tanks & Container
- Drums & Bins
- Carts & Carrier
- Toys & Kayaks
- Others
By End Use:
- Food & Beverage
- Agriculture
- Automotive & Marine
- Chemicals & Petrochemicals
- Pharmaceuticals
- Homecare
- Other Industrial
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- The Middle East and Africa(MEA)
Author
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show – Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
