Melt Pump Market Size, Share, Growth and Global Industry Analysis By Type (0-50(Cc/Rev), 50-200(Cc/Rev), and 200-500(Cc/Rev)), By Application (Virgin Plastics, Recycled Plastics, and Others) Covid-19 Impact, Latest Trends, Segmentation, Driving Factors, Restraining Factors, Key Industry Players, Regional Insights, and Forecast From 2023 To 2031

Updated On: 20 November 2023

MELT PUMP MARKET REPORT OVERVIEW

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The global melt pump market size is USD 432 million in 2022 and is projected to touch USD 946.03 million by 2031, exhibiting a CAGR of 9.1% during the forecast period.

Melt pumps are one of the important and crucial parts of extrusion equipment. They are made up of two gears and are operated with the help of just a single motor. These are used for the purpose of controlling the output of the die. Melt pumps also assure that the pressure and the flow to the die are maintained at an almost constant level.

The gears are filled by the extruders from the suction side, where as the polymers are discharged from the other end. The extruder throughput stability can sometimes be affected by many variables. Melt pumps eliminate all such variables by very efficiently controlling the outputs.

They have some special attributes that increase their demand in the market. Melt pumps are coated with titanium. They also minimize the pressure variations and fluctuations and are guaranteed for a period of seven years.

COVID-19 Impact: Declining Industrial Activity Affected Market Growth during Pandemic

The global COVID-19 pandemic has been unprecedented and staggering, with melt pumps experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The spike in CAGR is attributable to the melt pump market growth and demand returning to pre-pandemic levels once the pandemic is over.

The COVID-19 pandemic that broke out in China, spread across the globe rapidly and hampered the growth of all most all the markets globally, and the melt pump industry is no exception. With declining industrial activity, the product experienced reduced demand, particularly during the initial phase of the pandemic. However, the use of both virgin plastic and recycled plastic increased during COVID-19, which has created new opportunities for the market.

Owing to the lockdown in all the countries because of the pandemic the production of the gear pumps ceased suddenly which led to which led to the fall of the melt pump market share. The major market players halted the construction of many buildings and infrastructures which caused a very steep decline in the market. Restriction on mining activities due the pandemic has had a negative impact as well. However, the increase in the vaccination drives has positively affected the market growth.  

LATEST TRENDS:

"Advancement in Technology and Industrialization to Boost the Market Size"

Rapid industrialization and globalization in the recent years have given way to many new and advanced products. The same trend continues in the melt pump industry. Many new and advanced products have been introduced over the past few years because of the increasing demand across key end-use industries.

MELT PUMP MARKET SEGMENTATION

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• By type

Based on the type the market is classified into

0-50(cc/rev), 50-200(cc/rev), and 200-500(cc/rev).

• By application

Based on the application the following classifications are made:

Virgin Plastics, Recycled Plastics and Others.

DRIVING FACTORS

"Increasing Demand across Construction and Oil & Gas Sectors to Expand Market Size "

The global construction industry has increased significantly over the past decade, especially in developing countries. The boom of the construction industry has positively impacted the product demand because of the increasing demand for construction tools and machinery. Apart from this, the necessity of minerals, oil, and gas has also spiked the demand for melt pumps in the recent years. Therefore, increasing demand across construction and petrochemical industries is anticipated to create promising opportunities for product manufacturers in the coming years.

"Improved Quality of the Product and Energy Optimization to Increase Product Demand"

The quality of the melt pumps is continuously improving owing to constant technological advancements. Many modifications and improvisations metal pumps have improved their quality to a great extent. Certain pumps have been developed in the recent years that have extraordinary features. These are designed to operate with minimal pressure due to the design-conditioned conveying. The same pressure and temperature are maintained throughout, which cuts down the unnecessary stress, strain, and pressure on the material used. Such advances in technology will further improve the efficiency, accuracy, and reliability of melt pumps, boosting their demand significantly.

RESTRAINING FACTOR

"Decline in Oil Demand to Impede the Market Growth"

As the oil industry is a major end-user of the pump industry, decline in oil demand could impact the melt pump market growth. According to the International Energy Agency (IEA), there was a sharp decline in the demand for the oil industry during 2020. Even though the oil industry has recovered after the pandemic, the significantly less demand continues to hinder the performance of the market.

Apart from this, the undesirable noise produced during the process of production and the inability of the pumps to pump hydraulic fluids could also limit the product demand in the future.

MELT PUMP MARKET REGIONAL INSIGHTS

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North America is projected to dominate the melt pump market share in the next few years. The dominance of this region is due to several factors. The U.S. will contribute significantly to the North American market due to the presence of major players in the country. The U.S., Canada, and Mexico are the major countries in North America that are dominating the regional market. Expanding infrastructure and rise in petrochemical demand will boost the regional market.

Europe is likely to capture the second-largest share of the market during the forecast period. Meanwhile, Asia Pacific is anticipated to record the fastest CAGR over 2022-2028, led by China and India.

Key Industry Players

"Development of New Products and Advanced Features to improve the Market Outlook"

Major players in the melt pump industry are focusing on launching new products with advanced features to expand their market share. Key companies are investing in R&D to design advanced products that can meet the specific requirements of different industries. Growing technological innovation and advancements along with increasing number of market players will positively influence the market growth.

List Of Market Players Profiled

• Dover (PSG) (U.S)
• Oerlikon (Switzerland)
• Nordson (U.S)
• WITTE (Germany)
• Coperion (Germany)
• Kawasaki Heavy Industries (Japan)
• Zenith Pumps (U.S.)
• Kobelco (Japan)
• GMA (Philippines)
• Pnh Extrusion Gear Pumps (India) PSI (U.S)
• Haike Extrusion Gear Pumps
• Haake Extrusion Gear Pumps (Italy)
• JCtimes (China)
• Anji Chemical (China)
• Deao Machinery (China)
• Lantai Machinery (China)

Report Coverage

This report which is based on extensive study and research covers various areas and aspects regarding the melt pump market. Detail regarding the segmentation based on type, application, company and region have also been provided. With comprehensive studies being done on the market during the forecasting period, this report also gives many useful insights about the condition of the market after the pandemic of covid-19. The driving and the constraining factors have also been thoroughly discussed which enables the marketers to have a correct idea about the market conditions and situations. Along with the present year’s value the estimated value for the forecasted period has also been given. The regional insights that are provided in the report indicate which region dominates the particular industry.  This report includes all the necessary information based on research and analysis.