The plasma fractionation market achieved a valuation of US$ 32 billion by the end of 2022. Looking ahead to the period spanning from 2022 to 2032, the market is anticipated to experience substantial growth, with an impressive Compound Annual Growth Rate (CAGR) of 7.3%. This growth trajectory is expected to lead to a market value of US$ 65 billion by the end of this period.
The plastic granulators market is a critical component of the plastics recycling and manufacturing industry. Plastic granulators are machines designed for the purpose of reducing large plastic items, such as bottles, containers, and scrap, into smaller, uniform granules or pellets. These granules serve as the raw material for various plastic products, contributing to the reduction of plastic waste and supporting sustainability efforts. The plastic granulators market caters to a wide range of industries, including packaging, construction, automotive, and more, where plastics play a significant role in production and packaging.
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Plastic Granulators Market Dynamics
Several key dynamics influence the plastic granulators market:
- Growing Plastic Production: The plastic manufacturing sector has been expanding consistently, resulting in an increased generation of plastic waste. This surge in plastic waste necessitates efficient recycling solutions, with plastic granulators being a critical component of the recycling process.
- Environmental Concerns: The detrimental environmental impacts of plastic pollution have led to heightened awareness and concern. In response, there is a growing demand for sustainable practices, including recycling and reusing plastics. Plastic granulators contribute to these sustainability goals by facilitating the recycling process.
- Technological Advancements: Continuous innovation in granulator technology has led to more efficient and versatile machines. Advanced features such as automation and energy-efficient systems have become integral to modern granulators, improving their performance and reducing operational costs.
- Regulatory Initiatives: Governments and regulatory bodies worldwide are enacting stricter rules and regulations to address plastic waste management and environmental sustainability. Compliance with these regulations drives the adoption of plastic granulators by industries aiming to meet environmental standards.
Plastic Granulators Market Demand & Supply Trends
The surge in plastic waste production has intensified the necessity for enhanced recycling efforts, leading to a rising demand for plastic granulators. These machines offer efficient plastic recycling solutions, aiding in the reduction of environmental impact. The plastic granulators market benefits from its wide-ranging applications across diverse industries, including packaging, construction, automotive, and electronics, ensuring its stability and growth. Moreover, the market is driven by the increasing demand for customized granulators tailored to efficiently process specific plastic types, reflecting the industry’s pursuit of optimization and sustainability goals.
Key Companies Profiled In This Report
- Grifols S.A.
- CSL Limited
- Takeda Pharmaceutical Company Limited
- Octapharma AG
- Kedrion S.p.A
- LFB S.A.
- Biotest AG
- Bio Products Laboratory Ltd.
- Intas Pharmaceuticals Ltd
Fact.MR’s data indicates that approximately 54% of plasma fractionation products are poised for utilization in North America. Within this region, the United States emerges as the dominant market, primarily attributed to the rising elderly population and the associated surge in related health disorders.
To illustrate, the Alzheimer’s Association, in March 2021, reported a staggering figure: there were approximately 13.8 million individuals aged 65 or older in the United States living with dementia linked to Alzheimer’s disease. Moreover, during the challenging period of the COVID-19 pandemic, the same source revealed a disturbing 16% increase in the number of Americans succumbing to causes related to Alzheimer’s and dementia.
Estimates indicate that in 2021, the nation expended approximately US$ 355 billion on expenses related to Alzheimer’s and other forms of dementia. Projections paint an even more financially burdensome picture, with expectations that by 2050, this figure will surpass an astounding US$ 1.1 trillion.
Furthermore, it is foreseen that by the year 2050, a staggering 13.5 million Americans aged 65 and older will grapple with Alzheimer’s dementia, compared to an anticipated 6.2 million in 2021. This dramatic surge in Alzheimer’s disease cases, coupled with the effectiveness of plasma fractionation products in treating the condition, underpin the market’s projected expansion during the envisaged timeframe.
Leading companies in the plasma fractionation market are adopting various strategies to enhance their market presence, including mergers and acquisitions, expanding their regional footprint, and forging strategic partnerships. Notable recent developments in the market include:
- Terumo Blood and Cell Technologies opened a state-of-the-art production facility in Douglas County, Colorado in May 2022, representing a $250 million investment. This move aligns with the company’s commitment to advancing healthcare and expanding access to it. The 170,000 square foot facility will manufacture single-use collection sets for the newly FDA-approved Rika Plasma Donation System (Rika), bolstering source plasma collections for customers.
- In May 2022, CSL Behring expanded its manufacturing capabilities in Broadmeadows, Victoria, in accordance with the National Fractionation Agreement between the National Blood Authority and CSL Behring. This expansion aims to accommodate the growing annual domestic plasma collections in Australia.
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The plastic granulators market plays a vital role in the plastics recycling and manufacturing industry. As environmental concerns grow and plastic waste continues to accumulate, plastic granulators offer a sustainable solution by facilitating efficient plastic recycling. Understanding the value chain is essential for stakeholders, as it highlights the interconnected stages from raw material suppliers to end users, ensuring efficient utilization of plastic granulators across various industries.
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