Plastics machining is hardly a new concept – but it’s also one with a history that is far more storied than a lot of people realize.
It was first developed shortly after the end of the second World War as a dependable (and, more importantly, repeatable) way to create more accurate and complicated parts for use specifically within the aircraft industry. Flash forward to today and machined plastics are used in everything from shuttles that take men and women into space to medical equipment providing life-saving care to millions to the circuit board in the computer you’re probably using to read this on right now.
But for as fascinating as the story is of how far the industry has come, equally impressive is the idea of where we may be headed as a collective. Case in point: the plastics machining market has expanded rapidly over the last few years in particular and, if current research is to be believed, that is one trend that shows absolutely no signs of slowing down anytime soon.
The Future of Plastics Machining: The Market in 2020 and Beyond
According to information recently compiled by the Machined Plastics Market Research Report, the overall machined plastics market is predicted to expand “massively” between 2020 and 2025 – particularly in markets like China, Southeast Asia, Germany and others outside the United States.
It’s important to note that the report itself is made up of market data obtained by primary and secondary sources, and includes studies based on not only past performance but also the market share of big names in the industry, the expected rate of growth of both these larger players and the industry itself, and more. Another recent study revealed that the worldwide plastics market could be worth as much as $654.38 billion by as soon as the end of the year.
One of the key insights found in the report is that, from a certain perspective, this expansion of the plastics machining market is becoming something of a self-fulfilling prophecy. Many companies operating in the sector are placing big bets on the continued, future growth of the industry – and to that end, this report should be seen as very, very good news. Because of that, they’re participating in a large amount of expansion and new investments of their own – thus continuing to fuel the growth that the industry is already seeing.
The report cites some of those aforementioned end-use categories as one likes packaging, construction and automotive. The auto industry in particular has a constant need for high performance plastics to help reduce the overall weight of their cars, thus increasing fuel efficiency and other marketability factors. All of this will have a positive influence on this level of market growth over the course of the next five years.
Much of this progress involves building upon trends that have developed over the last few years – like an increased demand for products in a wide array of end-user categories, and decreasing production costs brought on by natural gas costs being so low in the United States.
Of course, none of this is written in stone at this point – and U.S. trade policies that are in a constant state of flux could create supply chain challenges for many global players moving forward. But having said that, one thing is clear: the industry is not only stronger than ever, but plastics machining will only continue to play a more important role in our daily lives moving forward.
If you’d like to find out more information about exactly why the plastics machining market is only getting bigger over time, or if you’d just like to speak about the specifics of your own important project with someone in a bit more detail, please don’t delay – contact JMJ Profile today.