Due to their high share of value creation in manufacturing, the influence of machining processes and the therein applied cutting tools on profitability and sustainability is often high. Plastics machining differs significantly from metal machining and requires special tools or machining strategies. However, innovation and research usually address the area of metal machining, while plastics machining is often based on in-house experience and the use of tools that were originally developed for metal machining. Thus, potentials regarding energy and resource efficiency of those cutting processes often remain unused. This paper analyses the market situation and needs for required innovations of companies in the plastics machining industry. Therefore, a market study was conducted in which both tool manufacturers and users were asked about relevant aspects regarding the production and application of tools as well as assessments of trends and desired innovations. The results help to identify future research needs so that potentials in the area of plastics machining can be raised with regard to energy and resource efficiency. An important finding of the study is that both tool manufacturers and users see a need for vibration-damped tools and for a wider range of tools with more special tools for plastics machining.