The Global Extruded Plastics Market is expected to reach USD 328.70 billion by 2028, growing at a CAGR of 3.6% during the forecast period. The growing demand for extrudates from the construction industry is expected to propel the extruded plastics market during the forecast period.
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What are extruded plastics?
Extruded plastics are plastics of various shapes and sizes obtained through the process of extrusion in which they are forcibly squeezed through an instrument that imparts shape and shape to them. Extrusion is a method of high volume manufacturing. With heat application, the plastic material is melted and extruded into the desired shape by dying. Inside the barrel, there is a cylindrical rotating grinder that pushes molten plastic material through a die. Depending on the cross-section of the die, the extruded material takes shape.
Owing to its increased demand for flexible food products as a food-grade material, the low-density polyethylene segment dominated the extruded packaging market in 2018 based on type. Based on the end-user industry, the packaging segment dominated the extruded plastics industry in 2018, owing to increased demand for packaging from food & beverage and consumer goods, especially during logistics for storing and protecting products. Cost efficiency is driving demand for extruded plastics with complex products and outstanding mechanical properties.
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The report provides a brief Regional analysis of the development of Extruded Plastics market-
Asia-Pacific emerged in 2018 as the fastest-growing region in the backdrop of high demand for extruded plastics from significant end-use sectors such as automobiles, building & construction, packaging, consumer goods. Rapid industrialization and urbanization combined with economic growth in this region have led to the growth of these end-use sectors, which are expected to spur the demand for extruded plastics in the coming years. India, Japan, South Korea, and Thailand are the main contributors to global extruded plastics market growth. Heavy manufacturing and sales of lightweight and fuel-efficient vehicles is a significant driver of the extruded plastics market in European nations such as Germany, the UK, France, and Russia. Furthermore, the presence of a massive medical base in the region is driving the growth of the market. Owing to industrialization in emerging countries such as Brazil and Chile, the RoW region market is anticipated to see significant growth. This has led to a rise in the number of construction activities that are supposed to fuel the region’s product requirement over the forecast period. The infrastructure hub in the UAE and Saudi Arabia is expected to stimulate the Middle East demand for the extruded plastics market.
Causes of Growth of Growth of Extruded Plastics Market:
o Rising demand from the automotive and packaging industries
o Volatility in raw material prices
o Heavy demand for custom molded plastics from the construction industry
o Introduction of biodegradable extruded plastics
Companies Covered:
Major Companies profiled in the report which are key players in the global extruded plastics market. The DOW Chemical Company, Sigma Plastics Group, ExxonMobil Chemical Company, Bemis Company Inc., SABIC, Chevron Phillips Chemical Company LLC, JM Eagle, Berry Plastics Corporation, Saint-Gobain S.A., E.I. Dupont De Nemours and Company, and Sealed Air Corporation.
Activities by top companies in the Extruded Plastics Market:
o In December 2017, SABIC started a new polypropylene extrusion facility in Geleen (Netherlands), to increase the production of its polypropylene products and next-generation polypropylene copolymers, to meet the demand for new lightweight applications in end-use industries such as packaging, appliances, automotive, and healthcare.
o In 2017, DuPont Teijin Films (DTF), a joint venture between DuPont and Teijin Ltd, has agreed to sell all of its equity interest in the film business joint ventures in the US, Europe, and China to Thailand’s Bangkok-based Indorama Ventures.
Market Segmentation:
By Type:
LDPE
HDPE
Polypropylene
Polystyrene
PVC
Others
By End-Use Industry:
Packaging
Building & Construction
Automotive
Consumer Goods
Electrical & Electronics
Others
By Region:
North America
By Country (US, Canada, Mexico)
By Type
By End-User Industry
Western Europe
By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
By Type
By End-User Industry
Eastern Europe
By Country (Russia, Turkey, Rest of Eastern Europe)
By Type
By End-User Industry
Asia Pacific
By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
By Type
By End-User Industry
Middle East
By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
By Type
By End-User Industry
Rest of the World
By Region (South America, Africa)
By Type
By End-User Industry
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