(MENAFN- Market Press Release) January 6, 2022 7:54 am - The global pulp molding machines market size was worth US$ YY million in 2020 and is estimated to reach US$ YY million by 2028, growing at a CAGR of YY% during the forecast period (2021-2028).
Increasing demand for food and beverages and environmentally friendly packaging boost the global pulp molding machines market. Further, the ban on single usage plastics also helps to boost the respective market.
Ban on the use of single-use plastics
Plastic was once a popular choice for manufacturing food storage containers due to its ability to protect the consumables and other sensitive contents from moisture and germs that can spoil them. However, due to the impact of certain variations of plastic on human health and nature, world governments, as well as regulatory authorities across the globe, have banned the usage of single-use plastic and containers based on single-use plastics.
Nonetheless, the impact of this ban is positive on the environment, as well as the global pulp molding machine market due to the resultant increase that would experience in demand for pulp-based products such as containers cartons, among others manufactured utilizing pulp molding machines. For instance, in Japan, 12 kinds of plastics in retail and restaurant markets will be banned from April 1, 2022. The respected industries are asked to take measures to adapt to alternative materials as a part of the imposition of this new rule. Since such rules the world over, the global paper molding machine market is expected to expand as these machines find application in the manufacture of alternative packaging solutions, whose demand and production would increase enormously due to the ban of single-use plastics. As a result, the respective ban of single-use plastics could be considered a major driver for the global pulp molding machine market.
The high power consumption and capital investments
Since pulp molding machines are extremely large and composed of numerous parts, the investments in terms of money and space would be colossal compared to most machines. Further, As per data, U.S. pulp and paper industry consumes over US$ 7 million worth of fuel as well as electricity every year.
Due to the enormous investment requirements in terms of the money required to purchase the machinery, space required for its installment, as well as power and other fuel resources, most manufacturers, particularly small-scale ones, restrict themselves from entering the respective market. Since this effect affects the overall production potential of the market, the respective parameter could be considered a major market restraint that constricts the market growth.
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The global pulp molding machines market has seen a minor decline due to the COVID-19 epidemic, which forced the closure of several major manufacturing industries. Several countries have temporarily halted manufacturing due to the COVID-19 epidemic. Further, due to low demand in the growth of the food and beverage, one of the primary consumers of pulp-based products, the demand for pulp molding machines decreased extensively.
However, demand for pulp molding machines climbed marginally as the environmental concerns and banned against plastic gained momentum after the second wave of the pandemic. Additionally, the market is also boosted as several top manufacturers began production again. Furthermore, after the initial phases of the COVID-19 epidemic, the leading makers of sustainable products planned investments and introduced innovative products for the medical and healthcare industries, which are manufactured utilizing pulp molding machines.
For example, Diageo, a global beverage alcohol firm, unveiled a sustainable packaging solution in conjunction with Pulpex Limited on July 15, 2020, for the creation of the world's first 100 percent plastic-free paper-based spirits container. Such investments and products launches are expected to boost the post- COVID-19 market prospects of the global pulp molding machines market.
The global pulp molding machines are segmented on type, machine type, pulp-type, capacity (Units Per Hour), application, end-user and region.
Rising demand for sustainable packaging in the food and beverages, automotive and electronics sector drives the rotary pulp molding machine market growth.
The pulp molding machines market is divided into two types: rotary and reciprocating pulp molding machines. The rotational pulp molding machine has the largest market share, owing to the increasing demand for sustainable packaging in consumer electronics, automotive components, food and drinks and other industries.
For instance, according to IBEF (India Brand Equity Foundation) Organization, consumer electronics and appliances sales in India reached over US$ 10.93 million in 2019 and are expected to reach around US$ 21 million by 2025. The expected growth in electronics, appliances and similar consumer markets might open many doors for the rotatory pulp business, which is needed to make sustainable packaging for these respective markets.
Asia-Pacific holds the largest market share global Pulp Molding Machines Market
Due to the existence of various manufacturing businesses, growing industrialization and increased investment by the top players in this region, Asia-Pacific dominates the global pulp molding machines market, accounting for the biggest market share, followed by North America and Europe. Increased government and private sector investment in sustainable packing markets and associated manufacturing technologies have boosted the need for pulp molding machines in Asia-Pacific.
Rising egg production and consumption have fueled demand for pulp molding machines to produce sustainable, environmentally friendly egg trays in the Asia-Pacific area. According to the FAO, global egg production climbed to over 28.9 million tonnes in 2016, with Asia-Pacific countries accounting for 67 percent of the total, or around 19.4 million tonnes. It produced a huge demand for pulp molding machines in this region, which are needed to make eco-friendly paper egg trays.
Similarly, North America is increasing quicker due to enhanced technology and increased acceptance of sustainable packaging in the food and beverage, automotive, electrical and electronics industries.
The pulp molding machines market is moderately competitive, with both domestic and global players. Sodaltech, Qingdao Perfect Equipment & Parts Co., BeSure Technology Co., Longkou Hongrun Packing Machinery Co., Ltd., Eurasia Light Industry Equipment Manufacture Co., Ltd., Anyang General Global Co., Ltd., Henan Qinyang Shunfu Paper Machinery Co., LTD, Beston Machinery, Shuanghuan Fiber Molding Machinery Co., Ltd, Quanzhou Far East Environmental Protection Equipment Co., among others.
Product launches, acquisitions and partnerships are among the leading players' growth tactics, all of which are contributing to the global growth of the Pulp Molding Machines Market. For instance, Qingdao Perfect Equipment and Parts Co., Ltd started exporting its 5000-piece-per-hour pulp paper molding machine to Uzbekistan in December 2019.
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