The global Extruded Plastics Market is anticipated to grow from $ 217.47 billion in 2021 to $ 294.84 billion by 2026, at a CAGR of 4.7% during the forecast 2021 to 2026.
Extruded plastics are basically plastics of different shapes and sizes, transported through the extrusion process, where they are forcibly pushed through a tool that gives them shape and shape. All types of plastics are easily malleable and can be manufactured in endless lengths and shapes, making them suitable for use in extrusion. Extruded plastics have applications in a variety of industries due to their availability in almost all shapes, from pipes and tubes to films and sheets. They are among the most widely used plastics in everyday user applications. Extruded plastics are made using an extrusion process, in which the raw plastic is melted to form a continuous profile. The plastic products produced by the extrusion process include pipes / tubes, plastic films, plastic railings, thermoplastic coatings and window frames, among others. Materials used in plastic extrusion include polyethylene, polypropylene, polystyrene, and polyvinyl chloride, among others. Due to the increasing applications of plastic in industries and application to the end consumer, the demand for extruded plastics is increasing worldwide.
Global market growth is driven primarily by due to the high demand for extruded plastic products in the packaging industry. Extruded plastics are widely used in the packaging of food and beverage, consumer goods, and medical products. They are used in packaging such as wrappers, shells, containers and bottles. Increasing workforce, high disposable incomes and changing lifestyle trends have led to increased demand for packaged food, driving the demand for extruded plastics around the world. This is attributed to the lightness, strength and durability of plastic products. Increased investment in infrastructure development in developed and developing regions is expected to increase the number of construction activities globally, which in turn will boost demand for extruded plastics in the coming years.
Electricity and electronics are expected to drive demand in the extruded plastics market during the outlook period. Extruded plastics are widely used in electrical and electronic products in household appliances, electrical components and accessories, and consumer electronics, among others.
Recent Developments in the Extruded Plastics Market:
In May 2020, “#PimpYourLine”, the new line upgrade program has been jointly launched in the market by the auxiliary giants Summit Systems, Maguire and Syncro. The program revitalizes existing extrusion lines and updates them with 2020 technology. This allows customers to avoid the high cost of purchasing a new line, as Summit's line upgrade program costs only 46% of the price of a new European line.
In January 2019, Packaging Converter launched the film extrusion business. Polymer Film & Bag Inc. will start up with a three-layer capacity of over 20 million pounds / year, with additional expansion plans in place. Conversations with customers that began a year ago convinced Polymer Packaging Inc. (PPI) that consolidation in the film extrusion industry had created the need for fast, agile and focused high-end film suppliers on the client, and the company responded by launching a new entity, Polymer Film & Bag Inc. Both companies are based in Massillon, Ohio.
On September 21, 2018, DS Smith Plastics introduced a new line of extruded polypropylene packaging products. DS Smith Plastics, Extruded Products France today announced the launch of AkyPure®, a new line of extruded polypropylene packaging for the pharmaceutical industry. AkyPure was developed in collaboration with key industry players.
In July 2019, United Plastics Corporation, Inc. launched its new website, www.unitedplastics.com, showcasing its renewed line of acoustic products and an easier-to-use interface that allows visitors to quickly find technical and product information. United Plastics, a plastic extrusion manufacturer, began developing and manufacturing commercial, industrial and residential soundproofing materials over 10 years ago. Before the launch of the new website, the company's two divisions lived online separately.
In April 2018, Polyplas launched a new website to offer more to plastic extrusion buyers. The updated website will host more useful articles and tips to facilitate self-selection, as well as news and opinions from Polyplas.
Extruded Plastics Market Drivers
The main growth driver of the global extruded plastics market is the increasing demand from the packaging industry due to the evolution of the consumer products and food and beverage segment around the world. In addition, the growing infrastructure needs of countries are driving the demand for products in the construction and building materials industry. In addition, the growth of the electrical, electronic and telecommunications industry is likely to have a positive impact on the product market due to the increasing demand for wires and cables, computers and accessories and appliances. The increase in the disposable income of the modern consumer and the high standard of living will have a positive influence on the growth of the product market. Moreover, the low cost associated with manufacturing and sourcing the raw materials, the excellent mechanical properties and the entry of domestic players for the raw materials will drive the growth of the extruded plastics market in the coming years.
Extruded Plastics Market Restraints
Several factors may slow the advance of the extruded plastics market. Production, use and disposal of extruded plastics, especially PVC, pose significant challenges to the growth of the product market due to aggravated risks to human health and the environment.
Opportunities in the Extruded Plastics Market
Increase in emerging plastics application areas coupled with the high rate of demand from agriculture industry for various forms of extruded plastics, which is expected to boost the growth rate of extruded plastics market during the foreseen period. Various advantages attributed to extruded plastics result in high consumption rate of various applicable end-use industries.
Challenges in the Extruded Plastics Market
Increasing government regulations and standards regarding the use and disposal of plastics, in the interest of environmental protection, will be a major challenge for the growth of the extruded plastics market globally. Second, the injection molding method of plastic processing may pose a threat to the growth of the product market. Finally, the intense competition among manufacturers in the supply of raw materials and polymers (additives) can represent a significant challenge for the growth of the extruded plastics business.
Extruded Plastics Market Segmentation as per the research report until 2025.
Extruded Plastics Market - By Type:
Low thermal conductivity and low resistance to oxygen and moisture make polystyrene a suitable material for food packaging products. Additionally, it is a low cost thermoplastic resin used in household appliances, toys, and construction applications, among others. Polystyrene finds applications in food and non-food packaging and consumer products such as frames, cable ducts, tubes, displays / sales signs, containers, bottles, trays, tumblers and disposable cutlery, among others.
Extruded Plastics Market - By End-Use Industry:
Extruded plastics are widely used in electrical and electronics in household appliances, electrical components and accessories, and consumer electronics, among others. The main application of extruded plastics in this industry is the insulation and packaging of products such as wires and cables, switches, enclosures of electrical and electronic products, and product protective packaging, among others.
Extruded Plastics Market - By Region
Middle East & Africa
Asia Pacific has emerged as the quickest growing region in 2020 amid strong call for extruded plastics from major end-use industries such as automotive, building and construction, packaging, consumer goods, among others. Rapid industrialization and urbanization, along with economic growth in this region, has resulted in the growth of these end-use industries, which will likely drive demand for extruded plastics in the years to come. The main contributors to the growth of the regional market are India, Japan, South Korea and Thailand.
The high production and sales of light and fuel efficient cars in European countries such as Germany, UK, France and Russia is a major driver of the extruded plastics market in this region. In addition, the use of plastic products in the medical industry because they are lightweight, biocompatible and cost effective. In addition, the presence of a large medical base in the region is driving the growth of the market.
The market in Latin America is supposed to experience significant growth due to industrialization in developing countries like Brazil and Chile. This has resulted in an increase in the number of construction activities, which is expected to drive demand for products in Latin America during the forecast period.
The infrastructure hub in GCC, UAE and Saudi Arabia is estimated to drive demand for extruded plastics in the Middle East and Africa market.
Impact of COVID-19 on Extruded Plastics Market:
The worldwide impacts of the coronavirus disease are already beginning to be experienced and will remarkably influence the extruded plastics market in 2020. The COVID-19 outburst has had influences in multiple aspects, affecting the global economy by directly restricting production and demand, creating supply chain disruptions, and financial impact on businesses and financial markets.
Extruded Plastics Market Key Players:
The key players in the global extruded plastics market are Sigma Plastics Group, The Dow Chemical Company, Chevron Philips Chemical Company, ExxonMobil Chemical Company, Berry Plastics Corporation, SABIC, JM Eagle and Saint Gobain S.A. Other predominant companies include E.I Dupont De Nemours and Company, Bemis Company Incorporated and Sealed Air Corporation.
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1.7 Y-o-Y Growth Analysis, By Type
5.1.8 Market Attractiveness Analysis, By Type
5.1.9 Market Share Analysis, By Type
5.2.3 Building & Construction
5.2.5 Consumer Goods
5.2.6 Electrical & Electronics
5.2.7 Y-o-Y Growth Analysis, By End-Use
5.2.8 Market Attractiveness Analysis, By End-Use
5.2.9 Market Share Analysis, By End-Use
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
18.104.22.168 By Geographical Area
22.214.171.124 By Type
126.96.36.199 By End-Use
6.1.4 Market Attractiveness Analysis
188.8.131.52 By Geographical Area
184.108.40.206 By Type
220.127.116.11 By End-Use
6.1.5 Market Share Analysis
18.104.22.168 By Geographical Area
22.214.171.124 By Type
126.96.36.199 By End-Use
6.2 North America
6.1.2 United States
6.3.6 South Korea
6.5 Latin America
6.4.5 Rest of Latin America
6.6 Middle East & Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Sealed Air Corporation
8.4 Berry Global Inc.
8.5 Dow Chemical Company
8.6 Sigma Plastics Group
8.7 Formosa Plastics Corporation
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures
Global,Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
Segment-level analysis in terms of by type,by end user,along with market size forecasts and estimations to detect key areas of industry growth in detail
Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
Global Extruded Plastics Market By Region, From 2018-2023 ( USD Billion )
Global Extruded Plastics Market By Type, From 2018-2023 ( USD Billion )
Global LDPE Market By Region, From 2018-2023 ( USD Billion )
Global HDPE Market By Region, From 2018-2023 ( USD Billion )
Global Polypropylene Market By Region, From 2018-2023 ( USD Billion )
Global Polystyrene Market By Region, From 2018-2023 ( USD Billion )
Global PVC Market By Region, From 2018-2023 ( USD Billion )
Global Extruded Plastics Market By End-Use, From 2018-2023 ( USD Billion )
Global Packaging Market By Region, From 2018-2023 ( USD Billion )
Global Building & Construction Market By Region, From 2018-2023 ( USD Billion )
Global Automotive Market By Region, From 2018-2023 ( USD Billion )
Global Consumer Goods Market By Region, From 2018-2023 ( USD Billion )
Global Electrical & Electronics Market By Region, From 2018-2023 ( USD Billion )