Extruded Plastics Market Share

Global Extruded Plastics Market Overview

The Extruded Plastics Market Size was valued at USD 245.01 Billion in 2022. The Extruded Plastics industry is projected to grow from USD 240.22 Billion in 2023 to USD 262.90 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 6.4% during the forecast period (2023 - 2030). The market is witnessing a growing demand for extrudates, especially from the construction industry which 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. Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Extruded Plastics Market Trends

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  Rising Need to Remove Micronutrient Deficiency from Soil to Increase the Consumption of Extruded Plastics in the Agriculture Industry.

  
  

Extruded plastics are used in a variety of applications, including pipes and tubing, wire insulation, windows and door profiles, films, and others, so the  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.

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Additionally, 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.

Extruded Plastics Market Segment Insights

Extruded Plastics Type Insights

The  Extruded Plastics Market segmentation, based on type, includes Low-Density Polyethylene, Polypropylene, Polyvinyl Chloride, High-Density Polyethylene, Polystyrene, and Others segments. The Low-Density Polyethylene segment is anticipated to account for the highest market share. This can be attributed to its flexible and long-lasting properties. Moreover, demand from the food industry has mandated the use of food-grade packaging materials, which is anticipated to drive the market further. 

Extruded Plastics end-user Insights

Based on End-User, the  Extruded Plastics Market segmentation includes Packaging, Building & Construction, Automotive, Consumer Goods, Electrical & Electronics, and Other segments. The Packaging segment is anticipated to account for the highest market share. This can be attributed to increased demand for extruded Plastics from food & beverage and consumer goods industries, primarily for storage purposes. 

Figure 2:  Extruded Plastics Market, by Type, 2023 & 2030 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Extruded Plastics Regional Insights

By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. 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, and 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 which has led to a huge increase in the import activities of raw materials of extruded plastics.

Figure 3:  EXTRUDED PLASTICS MARKET SHARE BY REGION 2023 (%)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Extruded Plastics Key Market Players & Competitive Insights

Major market players are spending a lot of money on R&D to increase their product lines, which will help the Extruded Plastics market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Extruded Plastics industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.

The major market players are investing a lot of money in R&D to expand their product lines, which will spur further market growth for Extruded Plastics. With significant market development like new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their global presence. To grow and thrive in a market climate that is becoming more competitive and growing, competitors in the Extruded Plastics industry must offer affordable products.

Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the global Extruded Plastics industry to benefit customers and expand the market sector. The Low-Profile Additives market has recently given medicine some of the most important advantages. Major Extruded Plastics market players, including Amcor plc, Berry Global Inc., Sigma Plastics Group., Saudi Basic Industries Corporation (SABIC), Chevron Phillips Chemical Company, and others are attempting to increase market demand by funding R&D initiatives.

Berry Global Group (formerly Berry Plastics) is a company providing plastic packaging and protection solutions. It operates through four segments: Consumer Packaging International, Consumer Packaging North America, Engineered Materials, and Health, Hygiene, and Specialties. The Consumer Packaging International segment consists of such product groups as bottles and canisters, containers, closures, and dispensing systems,

Also, Sigma Plastics Group has grown into North America’s largest privately held manufacturer of extruded polyethylene films and bags. Founded in 1978 with just one facility, today we offer more than forty (40) locations across the United States and Canada – each designed to serve and surpass our customer’s expectations with our commitment to quality, innovation, and expertise in flexible packaging with more than 2 billion pounds of resin.

Key Companies in the Extruded Plastics market include

• 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

Extruded Plastics Industry Developments

In 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 for a range of medical device applications for therapeutic and interventional procedures. 

Extruded Plastics Market Segmentation

Extruded Plastics Type Outlook

• Low-Density Polyethylene


• Polypropylene


• Polyvinyl Chloride


• High-Density Polyethylene


• Polystyrene


• Others

Extruded Plastics Application Outlook

• Packaging


• Building & Construction


• Automotive


• Consumer Goods


• Electrical & Electronics


• Others

Extruded Plastics Regional Outlook

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  North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


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  Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


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  Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


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  Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America