Extruded Plastics Market: Information by Type (Low-Density Polyethylene (LDPE), High-Density Polyethylene (HDPE), Polypropylene, Polystyrene, Polyvinyl Chloride, Acrylonitrile Butadiene Styrene, Polycarbonate, and Others), Form (Films, Sheets, Pipes & Tubes, Wires & Cables, and Others), End-Use (Packaging, Building & Construction, Automotive, Consumer Goods, Electrical & Electronics, Medical, and Others), and Region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa) - Forecast till 2030

Extruded Plastics Market Overview

The extruded plastics market size is expected to grow and reach a market value worth USD 291.74 Billion by the end of the period in 2028. The market is expected to attain a global CAGR of 4.7% between the forecast period of 2021 and 2030. The market is witnessing a growing demand for extrudates especially from the construction industry that is expected to drive the extruded plastics market growth. The market is further witnessing an increasing demand for the market from the Asia-Pacific region.

COVID 19 Analysis

Manufacturing, research and creation activities, import-fare, development, and different other global markets have been at a standstill since the episode of the worldwide pandemic. With individuals exposed to telecommuting and the government restrictions just allowing few shops to open a few times, the market saw a misfortune in business. This was a direct result of the condition of lockdowns which were forced locally and worldwide. This was major to contain the spread of the COVID-19 infection. With a decrease in popularity for plastic, the production and manufacturing units were suffering. Many end-clients like mechanical hardware, transportation, car, purchaser products, gadgets, and development were facing the wrath of the pandemic that has been creating issues ever since its beginning. Coronavirus pandemic has caused significant misfortune as far as industry, economy, GDP, or more all the deficiency of human existence and has enacted a condition on the people who belong to the low-income groups and the people who have no one to look after themselves.

The appearance of the pandemic has staggered different changes, preferences, and marketing trends worldwide. The public authorities and the global governments are understanding the wide inaccessibility of assets to satisfy the need for new products available in the market. The global governments are investing in the research and development departments to understand the marketing needs and expanding the product portfolio of the extruded plastics market for the forecast period that will be ending in 2028.

Market Dynamics

Drivers

The extruded plastics market revenue is witnessing the emergence of advancements that will drive the market towards excellent growth. The increase in emerging plastics has coupled with a high rate in areas like the agriculture industry. The production industry is making use of various forms of extruded plastics which will boost the growth of the market in the foreseen period ending in 2028.

Restraints

The extruded plastics market share is witnessing the rise of challenges that might restrain the market from growing in the period. Production, use, and disposal of plastics, especially PVS pose significant challenges that bar the market from growing as per the market expectations for the period ending in 2028.

Technology Analysis

The ecosystem that is dwelling in the extruded plastics market consists of a series of suppliers that help in providing key resin types like low-density polyethylene, polypropylene, and polyvinyl chloride, high-density polyethylene, and polystyrene, along with others. There are several market companies like The Dow Chemical Company (U.S.), SABIC from Saudi Arabia, and Dupont (U.S.) are involving in the marketing and production of a variety of feedstock materials. The rising demand side of the extruded plastics market materials includes companies like packaging, building & construction, automotive, and others that are inclusive of using plastic extrudates for various applications like packaging and insulation, among others.

Study Objectives

• The extruded plastics market size has been affected by the novel coronavirus and hence, the market report aims to have an understanding of the same. The global market report further, extends the discussion of opportunities that will help the market to grow and cover the losses that have been incurred during the pandemic.


• The market report also covers the basis on which the global market has been segmented in the global market premises that is imperative for smooth functioning and maintenance of the demand and supply chain mechanism. The report further highlights the performance of these segments that will help in meeting the rising needs of the audience followed by the rising chances of increasing global revenue.


• The market report discusses the factors and opportunities that will give rise to advantageous competition that will enhance the market functioning and the competitive market players in the regional and international market scale.

Segment Overview

The substantial increase in the extruded plastics market share is helping the expansion of the market and its ability to meet the rising needs of the target audience in various global locations. The global market has been segmented on the following: 

Based on the Type:

Based on the type, the market includes Low-density and high-density Polyethylene, Polypropylene, Polyvinyl Chloride, and others like Polystyrene.

Based on the market End-user:

The growing use of plastic has resulted in the expansion of its use in an array of industries. Some of them are packaging, building & Construction, automotive, and others like consumer Goods, electrical & electronics, and others.

Based on the geographical regions:

The extruded plastics market is functional in 4 major mushrooming regions namely the North American region, Europe, the APAC region, and the rest of the world.

Regional Analysis

The extruded plastics market revenue is increasing at a great scale in the global market. Based on the market trends, the Asia-Pacific region dominated the extruded plastics market operations in the period that ended in 2019. This market in the Asia-Pacific region is expected to expand and grow at the highest market rate during the forecast period. The main reason behind this is the increasing demand for extruded plastics from emerging and developed countries such as Japan, China, India, alongside Indonesia amongst others. The market is witnessing an improvement in economies of scale followed by an increase in manufacturing & construction activities in the global region. Also, growing investment in the research and development department followed by the increased levels of plastic production is helping in the expansion of the market. The marketing is witnessing the emergence of domestic manufacturers in the APAC region that has led to a huge increase in the import activities of raw materials of extruded plastics.

Competitive Landscape

The extruded plastics market size is expanding at a dependable rate during the forecast period that will be ending in 2028. The market is witnessing a steep rise in competition owing to the functions undertaken by prominent market players. The players are as follows:

• Amcor plc, Berry Global Inc.


• Sigma Plastics Group.


• Saudi Basic Industries Corporation (SABIC)


• Chevron Phillips Chemical Company


• Atlantis Plastics, Inc.


• DuPont de Nemours, Inc.


• Exxon Mobil Corporation


• Saint-Gobain


• Formosa Plastics Corporation

Recent Developments

• October 2021- Tekni-Plex Healthcare has announced the acquisition of Johnson Plastic Group (JPG), a precision extrusion manufacturer, as a fraction of a plan to grow the company's patient care solutions platform. Johnson Plastic Group, located in Mexicali, Mexico, concentrates on precision extrusions for medical device applications. The processor provides extrusion solutions into a range of medical device applications for therapeutic and interventional procedures.


• May 2021- The Jordan Firm, L.P. ("TJC") has purchased Spartech LLC, a portfolio company of Nautic Partners, LLC. Nautic Partners will continue to have a minority stake in the company. Spartech is a leading bespoke producer of specialized acrylics and other tailored extruded plastics for many applications and end markets. Spartech delivers acrylic products, plastic sheet and roll stock, specialty film laminates, and packaging solutions to over 1,000 clients in North America through a network of 14 manufacturing units and a unique research center, many of whom have been working with Spartech for decades.


• DS Smith Plastics has introduced a new line of extruded polypropylene packaging products in September 2018. The market took to the international market for the launch of AkyPure that is a new kind of packaging for the pharmaceutical company. AkyPure was developed as a result of collaborations with the key industry players during the forecast period that will be ending in 2028.


• Packaging Converter launched the film extrusion business in January 2019. Polymer Film and Bag Inc. will begin with the launch of a three-layer capacity for over 20 million pounds in a year with the additional expansion plans in place. The conversations with the potential customers have created the need for fast and agile film suppliers on the client followed by the company’s response for a new company in Ohio.


• #PimpYourLine is a new line upgrade program that has been launched in the market by another giant with the name of Summit Systems, Syncro, and Maguire. This happened in May 2020.

Intended Audience

• Extruded plastics traders, producers, and manufacturers


• The export and import companies


• Global plastic retailers


• Market investing firms and buyers


• National and government agencies


• Private equity firms


• Consumer goods and products


• Consumer markets


• Research and development companies and institutes

Report Overview

The extruded plastics market report covers various competitive and marketing aspects that will focus on developing the market at a great CAGR rate during the forecast period that will end in 2028. The market report covers the basis of market functioning and segmentation that will enhance the market functioning and rising demand and supply patterns as predicted by the business analysts for the foreseen period. The market report further discusses and covers the competitive market landscape that is vital for judging the factors that give to international market competition after suffering the impact of the pandemic on the market operations.