Roto Molding Machines Market is expected to reach USD 1,089 million in 2030 at a CAGR of 2.9% during the forecast period 2023-2030, Data By Contrive Datum Insights

According to a market 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) — That Roto Molding Machine Market is estimated at USD 890 million in 2022 and is expected to reach USD 1,089 million in 2030 at a CAGR of 2.9% from 2022 to 2030. In this study, we have looked at some of the key trends in the growth of the global roto molding machine market. Rotational molding tools have received a lot of attention because manufacturers are trying to find the best ways to mold and shape things. Apart from this, casting and molding must be done well because people want well-made designs made from market goods, especially plastic. It is important to note that the coronavirus pandemic has halted production and industrial activities. So the rotary molding machine market around the world was also shaken during this time. However, as borders open and prevention improves, demand for rotational molding machines is likely to rise again.

Request sample copy of report “Roto Molding Machines Market – Global Industry Analysis, Size, Share, Growth Opportunities, Future Trends, Covid-19 Impact, SWOT Analysis, Competition and Forecasts 2022 to 2030”, published by Contrive Datum Insights.

Roto Molding Machine Market Recent developments:

• In August 2021, Ferry Industries, Inc., a leading manufacturer of rotational molding machines, announced the launch of a new line of machines called “NEXUS” that includes advanced features such as touchscreen control, automation and energy efficient technology.

• In June 2021, Japan Steel Works Ltd. (JSW) announced that they had developed a new large rotoforming machine capable of forming products up to 3m in diameter and up to 9m in length.

• In March 2021, Italian rotational molding machine manufacturer Persico Group acquired American 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.

The story continues

Roto Molding Machines Market Dynamics:

Drivers

Rapid industrialization and growing demand for industrial tanks and containers from various industries are two things expected to drive market revenue growth. Rotational molding machines are in high demand because more and more people want to buy plastic products. People are buying more unique chairs, sofas, benches and other furniture because their tastes are changing and they have more money to spend. Also, more research and technological advances lead to the creation of more advanced and cost-effective casting machines around the world. Demand for rotational molding machines is also driven by growth in the automotive, construction, and sports and play equipment industries. This is expected to drive the market’s revenue growth over the next few years.

Limitations

Some of the main things that can slow down the growth of the market are strict regulations from the government on how much energy and power rotational molding machines can use. Some of the other things that are likely to slow down the market revenue growth are the availability of workers and the high cost of raw materials caused by lockouts and closure of manufacturing sites. Installing a casting machine initially costs a lot of money. These tools can also be used in factories to produce a wide variety of materials using only a small number of raw materials. Over the next few years, these factors are likely to significantly slow the market’s income growth.

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 furnishing becomes more important, more partnerships are being made with key market players to make products that look good and are nice to look at. Also, the growing need to solve business problems is likely to provide key players and the market with new ways to grow.

Regional Outlook:

During the forecast period, North America is expected to bring in the most money. This is because the plastic manufacturing industry in large countries such as the United States and Canada is growing rapidly. Rotational molding machines are likely to be more in demand in the field as technology improves, more leisure and sports equipment is manufactured, and people want high-quality materials. Rotational molding tools are also in high demand because the chemical industry is growing rapidly and more and more high-quality containers and industrial equipment are being manufactured.
Due to a growing population, rapid urbanization and more industrialization, Asia Pacific is expected 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 items is growing because people have more money and can buy more. Sales of rotational molding machines in the region are likely to grow due to these key reasons.

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Scope of the report:

Key Segments Covered for Roto Molding Machines:

Top market players:
Polyvinyl Rotomachinery, NAROTO, M. Plast (India) Limited, Caccia Engineering Srl, Clips Poly Engineering, Reinhardt Roto-Machines and others.

By type:

When applying:

• Chemical industry

• Pharmaceutical industry

• Food industry

• The electronics industry

• Others

Regions and countries covered

• North America: (USA, 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)

• Middle East and Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of Middle East and Africa)

• Latin America: (Brazil, Argentina, Rest of Latin America)

• The rest of the world

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