Extruded Plastics Market Size to Reach USD 289.2 Billion by 2030 at CAGR 4.6%

The Extruded Plastics Market is Segmented by material type (Polyethylene, Polypropylene, Polyvinyl Chloride, Polystyrene, and Others), Application (Pipes & Tubing, Wire Insulation, Window & Door Profiles, Films, and Others), and End Use (Building & Construction, Packaging, Automotive, Industrial, and Others) The report covers global opportunity analysis, regional outlook, growth potential, industry forecast from 2021 to 2030.

The global extruded plastics market was valued at USD 185.6 billion in 2020 and is projected to reach USD 289.2 billion by 2030, growing at a CAGR of 4.6% from 2021 to 2030.

Major Factors Driving The Growth Of Extruded Plastics Market Are:

Increased packaging industry application and demand, as well as an increase in the number of construction activities, are expected to drive the extruded plastics market growth over the forecast period.

Manufacturers have been able to offer extruded plastics at low prices due to a growing concentration of manufacturers, availability of feedstock at lower prices, and the arrival of local players

Trends Influencing The Growth Of Extruded Plastics Market :

Extruded plastics are used in a variety of applications, including pipes and tubing, wire insulation, windows and door profiles, films, and others, so the global extruded plastics market is expected to grow rapidly in the coming years. Extruded plastics are ideal for insulation applications because of their excellent chemical stability, high strength, and corrosion resistance.

Extruded plastics are also used in end-use sectors like building and construction, packaging, automotive, and industrial because they produce plastic materials in a variety of shapes and sizes. Customers have demanded food and other items that may not be available in their countries due to an increase in disposable income and a modern lifestyle. These items are brought in from other countries. As a result, the packaging industry has increased its demand for extruded plastics to ensure safety and proper storage during transportation and logistics. This in turn is expected to drive the growth of the extruded plastics market

Another extruded plastics market driver is expected to be an increase in construction and building activities, as extruded plastic is frequently used for decoration and construction components. They are also used for cladding panels, cables, pipes, windows, insulation material, and other applications. To bring about product innovation, key players are focusing on technological advancements. These elements are expected to propel the market forward and act as growth propellers.

Furthermore, increased investments in building infrastructure in countries such as the United States, China, Japan, Mexico, and India have resulted in significant growth in the building and construction sector, where extruded plastics are used as insulating materials and cladding panels. These elements are expected to contribute to the global extruded plastics market’s expansion.

Extruded Plastics Market Share Analysis:

Based on end-user, In 2020, the packaging end-use segment dominated the global market, with a CAGR of 4.9 percent expected over the forecast period. This is due to increased global trade, which has reduced trade barriers and rationalized tariffs, resulting in increased international trade in packaging machinery and materials, with extruded plastics-based films being widely used for packaging applications.

Based on material type, In 2020, the polyethylene segment was the largest revenue generator and is anticipated to grow at a CAGR of 4.8% during the forecast period. In comparison to other types of extruded plastics, polyethylene extrusion is tough, translucent, has a low coefficient of friction, and has good chemical resistance. This factor is accelerating the segment’s growth in the global market

Based on application, the films segment dominated the global market in 2020 and is anticipated to grow at a CAGR of 4.8% during the forecast period. This is due to the widespread use of extruded plastics-based films for packaging in the food and beverage, pharmaceutical, agriculture, and other end-use industries

Based on region, the Asia-Pacific extruded plastics market size is projected to grow at the highest CAGR of 5.4% during the forecast period and accounted for 40.2% of extruded plastics market share in 2020. This is due to the growing popularity of consumer electronic products that use extruded plastics as a primary

Post time: Sep-15-2022