A recent report released by Credence Research suggests that the US plastic welding equipment industry is undergoing a period of explosive growth. This industry was valued at $595.3 million in 2015, and the latest report includes a forecast of nearly $840 million by 2023—a growth rate that should raise eyebrows around the country, at the very least.
Understanding the Growth
The reason this market continues to expand is simple—the United States is a world leader in the manufacture of specialty polymers and plastics. The plastics manufacturing industry is the third-largest sector of manufacturing in the United States, and America boasts over 16,000 specialty plastics manufacturing plants, making it an attractive destination for plastic manufacturers both domestic and worldwide.
The demand for plastics continues to grow due to specialty applications in market sectors such as transportation, health, consumer electronics, aerospace and aviation, military applications, and packaging industries, among others. But while the growth of the plastics industry itself is well documented, some haven’t been paying attention to the growth of plastic welding equipment.
Also, the global and US economy have been doing quite well, with a third-quarter 2016 growth of 2.9 percent—spurring the continued growth of manufacturing and business in America and helping support a robust and powerful plastics manufacturing sector.
What Exactly Is Plastic Welding Equipment?
Plastic welding is just what it sounds like using heat to join plastics together, not an adhesive or other third-party sources of sealant, but the superheated plastic itself. In this way, it’s the same as metal welding—though it can be achieved at much lower temperatures, given the properties of most plastics and polymers.
The plastic welding equipment comprises the market sector that supports this process: the welding and joining machines themselves and all the specialty products that support the plastic welding process.
The unique property of plastic welding that makes it so attractive to plastic manufacturers is that it’s the only method of plastic joining that doesn’t require a fastening material—providing a permanent bond in even the most tough-to-work-with plastics by simply fusing both pieces of plastic into a contiguous, durable piece.
Also, the seals created by the three-step process of pressing, heating, and cooling commonplace in plastic welding machines are airtight, watertight, abrasion resistant, and quite durable, making them more useful for applications where the utmost quality and durability is required.
Therefore, because the plastics industry continues to grow with global plastic demand, plastic welding equipment can be predicted to grow alongside it, supplying the growing plastic manufacturing industry with the machines it needs to create a quality product, and supplying OEM companies with the machines they need to create their products.
What Companies Are Major Players?
The United States boasts a huge slate of companies in the plastics and plastic welding industry—both foreign and domestic.
Domestic standouts in the plastic welding industry include giants such as Emerson Electric Co. and Dukane Corporation.
In addition to these local players, there are many international corporations with an interest and a foundation in the US market—LPKF Laser & Electronics AG, DRADER Manufacturing, Herrmann Ultrasonic, and RITMO S.p.A, to name a few.
If you’re keeping a close eye on growing markets with potential for a steady, year-after-year increase in revenue, you’re going to want to keep a close eye on the plastic welding industry. As long as the US economy remains strong and demand for high-quality plastics continues to increase, you can expect to see the plastic welding industry keep growing apace.