Pulp Molding Machines Market projected to surpass $590 milli
The growth of pulp molding machines market is ascribed to the rising demand for sustainable protective packaging solutions and rapid industrialization across emerging economies
SELBYVILLE, Del., Aug. 24, 2020 /PRNewswire/ -- Based on Global Market Insights Inc., report, the pulp molding machines market was estimated at $517.3 million in 2019 and is slated to exceed $590 million by 2026, registering a CAGR of 3.3% from 2020 to 2026. The report provides a detailed analysis of the key investment avenues, drivers and opportunities, major winning strategies, wavering industry trends, market estimations as well as size, and competitive scenarios.
Growing demand for fast-service restaurants and changing food consumption trends across the world will foster the pulp molding machines industry growth. Fast-service restaurants are constantly looking for solutions that lower operational and packaging costs and increase profitability. Pulp packaging solutions offer these restaurants a cost-effective way to meet their goals while ensuring minimal adverse environmental effect.
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In terms of product, the rotary pulp molding machine segment holds a superior position in the pulp molding machines market and is estimated to generate revenues of approximately $415 million by the end of the analysis timeframe. These machines offer numerous advantages to users like minimum downtime, low maintenance costs, and higher production capacity. Rotary machines can also produce large and small-sized shapes such as planting pots, fruit trays, four-cup carry outs, among many others.
Based on machine type, semi-automatic pulp molding machines are anticipated to reach a valuation of approximately $150 million by the end of the analysis timeline. The machines are utilized in the production of a broad range of food packaging solutions from supermarket vegetable trays to western-style food dishes, and bowls. Moreover, in order to ensure high thermal conductivity, high strength, and higher wear resistance, the machines utilize aluminum alloy, copper, and stainless-steel parts, making them more reliable.
Key reasons for pulp molding machines market growth:
- Growing demand for economical packaging products.
- Rapidly increasing e-commerce industry.
- Growing product demand from automotive and F&B sector.
2026 forecasts anticipate the 'healthcare' end-user segment showing appreciative growth:
Healthcare end-user segment is anticipated to showcase substantial growth and are likely to generate approximately $36 million revenue by the end of the analysis timeframe. Growing need of alternatives for conventional metal, ceramics, and plastics medical equipment, like bed pan sleeves, kidney tray, and urine bottle, among many others, is further propelling the product demand. Moreover, innovative, easy disposable, and cost-effective pulp products decrease the risk of cross-contamination, further increasing its popularity.
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North America and Europe to witness remunerative growth:
The North America is slated to witness considerable growth and is likely to generate a valuation of approximately $150 million by the end of the analysis timeline. Proliferating consumer goods, personal care, and healthcare industries in the region will further propel the pulp molding machines market growth through the analysis timeframe. Moreover, the formation of new automotive and electrical & electronics automotive production facilities will further encourage product demand across the region.
The Europe is anticipated to grow around 3.3% CAGR through the forecast timeframe. Various initiatives for lowering the utilization of single use plastic packaging solutions from personal care, consumer goods, automotive, and F&B sectors will support the regional pulp molding machines market growth.
Leading market players:
Prominent market players analyzed in the pulp molding machines industry report include Inmaco Solutions B.V., Guangzhou Nanya Pulp Molding Equipment Co., Acorn Industry Co., Ltd., Beston Group, Southern Pulp Machinery Ltd. among many others. They have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to heighten their stand in the industry.
About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
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