Growth of pulp molding machine market will be driven by continuous industrialization and escalating demand for sustainable protective packaging solutions. Also, the availability of several reusable materials and affordable packaging should positively influence the high adoption of the product among various industries.
Reportedly, the U.S industrial output was valued at US$3.602 trillion in 2016. With the manufacturing sector recording more than US$12.4 million employed in 2017, the large exports by the U.S. in the same year were chemicals, transportation equipment, non-electrical machinery, computers, and electronics. As industrial activities around the world are gaining traction, the demand for pulp molding machines is increasing rapidly. According to a Global Market Insights, Inc., analysis report, global pulp molding machines market size is projected to surpass US$590 million by 2026.
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The food consumption pattern of consumers has changed drastically over the years. As quick-service restaurants are becoming popular, the demand for pulp molding getting traction significantly. By acquiring these advanced machines, there is a focus on minimizing operational and packaging costs to uplift profitability. Additionally, economical advantage along with the minimum adverse environmental impact of the product will further escalate its demand across industries.
Reportedly, the pulp rotary molding machine dominates the market and is likely to generate revenue of over US$415 million by 2026. A pulp rotary molding machine can produce small and large-sized shapes of pulp packaging products such as fruit trays, four-cup carry-outs, planting pots, and others. Minimum downtime, superior production capabilities, and low maintenance costs are some benefits that the rotary molding machine render to its users.
The semi-automatic machines are extensively used in the production of distinct food packaging products such as supermarket vegetable trays, western-style food dishes’ bowls, and many more. By 2026, the semi-automatic pulp molding machines are projected to produce revenue of more than US$150 million. Materials such as copper, stainless steel, and aluminum alloy parts are significantly used in these packaging products to ensure high strength, high thermal conductivity, and high wear resistance.
Pulp molding machines of power capacity 3,500 – 5,500 units/hour accounted for over 25% of volume share in 2019 worldwide. On account of its power capacity, the large-scale beverage packaging producers and poultry industry extensively incorporate this powerful pulp molding equipment at their facilities. Also, the usage of robust packaging materials and incorporation of these machines in personal care packaging industry will ensure substantial adoption of pulp molded solutions.
The use of pulp molding machine in healthcare end-user industry is likely to observe considerable growth and is projected to generate revenue of nearly US$36 million by 2026. Pulp products possess a range of exceptional properties including easy disposal, advanced, cost-effectiveness, and even help in reducing the risk of cross-contamination. Increasing requirement of alternatives to traditional metal medical equipment, ceramics, and plastics used in urine bottles, bedpan sleeves, kidney tray, and others should augment product demand.
Growing consumer goods, personal care, and healthcare industries in North America will further escalate regional market expansion. Reportedly, the North America pulp molding machine market is poised to generate revenue of nearly US$150 million by 2026. Also, the presence of key automotive, electrical, and electronic companies in the U.S. should fuel-up demand for the product. For instance, Aisin AW Co., Ltd., with an investment of US$400 million over the next five years, announced the establishment of a new auto parts production facility in the U.S. in September 2019.
There are continuous efforts to minimize excessive usage of single-use plastic in packaging products from consumer goods, automotive, personal care, food, and beverage sectors. Notably, the pulp molding machine market in Europe is anticipated to rise at nearly 3.3% CAGR up to 2026.
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On account of the product’s excellent characteristics followed by its widespread applications in several industries, the pulp molding machine market is expected to experience substantial growth. However, the availability of substitutes such as conventional packaging materials and the ongoing COVID-19 pandemic restricting industrial activities could hamper market progression in the coming years.
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