The report predicts the global Extruded Plastics Market to grow at a healthy CAGR over the forecast period from 2022-2031.
“The extruded plastics market is projected to reach USD 291.74 billion by 2031”
The extruded plastics market is projected to grow from USD 184.34 billion in 2022 to USD 291.74 billion by 2031, at a CAGR of 4.7% from 2022 to 2031. Key factors that are expected to drive the growth of the market include low feedstock and energy prices that tend to reduce the overall cost of extrudates. The adoption of extruded plastics in medical and agricultural industries is also expected to fuel the growth of this market.
“Based on type, the polystyrene segment is expected to grow at the highest CAGR during the forecast period”
Based on type, the extruded plastics market has been segmented into low-density polyethylene, polypropylene, polyvinyl chloride, high-density polyethylene, polystyrene, and others. The polystyrene segment is expected to grow at the highest CAGR during the forecast period. Low thermal conductivity and poor resistance to oxygen and moisture make this resin a suitable material for food packaging products. In addition, polystyrene is an inexpensive thermoplastic resin used in appliances, toys, and construction applications, among others. Polystyrene finds applications in food/non-food packaging, and consumer products such as frames, cable ducts, tubes, sale displays/signage, containers, bottles, trays, tumblers, and disposable cutlery, among others.
“Based on end user, the electrical & electronics segment is expected to grow at the highest rate during the forecast period”
The electrical & electronics segment of the extruded plastics market is expected to grow at the highest rate during the forecast period. This growth can be attributed to the rise in global demand for extruded plastics from the e-commerce industry and constant technological advancements in electronic goods. Extruded plastics are widely used in electrical & electronics in appliances, electrical components and accessories, and consumer electronic goods, among others. The major application of extruded plastics in this industry is in the insulation and packaging of products such as wires & cables, switches, the casing of electrical & electronic goods, and protective packaging of goods, among others.
“Asia-Pacific is expected to grow at the highest CAGR during the forecast period”
The Asia-Pacific extruded plastics market is expected to grow at the highest CAGR during the forecast period. In 2015, this region was the largest market for extruded plastics. There is a huge demand for extruded plastics from India, China, and Japan. Growing income levels and improving the economic conditions of the countries in the region are fueling the growth of the extruded plastics market.
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Breakdown of profile of primary participants:
- By Company Type: Tier 1 – 30%, Tier 2 – 20%, and Tier 50%
- By Designation: C Level – 23%, Director Level – 15%, and Others – 62%
- By Region: Europe – 36%, Asia-Pacific – 29%, North America – 21%, RoW – 14%
As part of the qualitative analysis, this report provides a comprehensive analysis of major market drivers, restraints, opportunities, and challenges. It also discusses competitive strategies adopted by different market players such as The DOW Chemical Company (U.S.), Sigma Plastics Group (U.S.), ExxonMobil Chemical Company (U.S.), Bemis Company Inc. (U.S.), SABIC (Saudi Arabia), Chevron Phillips Chemical Company LLC (U.S.), JM Eagle (U.S.), Berry Plastics Corporation (U.S.), Saint-Gobain S.A. (France), E.I. Dupont De Nemours and Company (U.S.), and Sealed Air Corporation (U.S.), among others.
The report provides an analysis of the extruded plastics market across different regions. It aims at estimating the market size and growth potential of this market across different segments such as type and end user. Furthermore, the report also includes an in-depth competitive analysis of key players in the market, along with their company profiles, SWOT analysis, recent developments, and key market strategies. The global report covers key regions such as North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa, along with country-level analysis.
Reasons to buy this report:
- What will be the market size by 2021 and what will be its growth rate?
- What are the key market trends?
- What are the key factors expected to drive the market?
- What are the challenges that impact market growth?
- Who are the key players in this market?
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