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Plastic Extrusion Machine Market Trends

ID: MRFR//10590-HCR | 128 Pages | Author: Harshita Gorade| July 2024

Global Plastic Extrusion Machine Market Overview:

The Plastic extrusion machine market industry is projected to grow from USD 6.8 Billion in 2023 to USD 10.08 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.00% during the forecast period (2024 - 2032). Plastic Extrusion Machine Market Size was valued at USD 6.5 Billion in 2022. Increasing demand for plastic products, urbanization and construction boom, automotive industry growth, packaging industry, medical industry, energy efficiency, customization and flexibility, globalization of markets, reshoring trends, are the key market drivers enhancing the market growth.

Plastic Extrusion Machine Market Overview

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

Plastic Extrusion Machine Market Trends

Increasing demand for plastic products is driving the market growth

The market for plastic extrusion machines is expanding and growing as a result of the rising demand for plastic products across a variety of industries. This increase in demand has sparked a dramatic transformation in production techniques, with plastic extrusion emerging as a key technique for satisfying the demands of several industries like packaging, construction, automotive, and consumer goods.

Plastic extrusion products are in high demand in the construction industry due to their sturdiness, weather resistance, and low maintenance needs. Extruded plastic pipes, profiles, and panels are widely employed in a variety of applications, from windows and doors to plumbing and drainage systems. Due to the long lifespan and more affordable installation costs of plastic components compared to traditional materials, there has been a growth in the use of plastic extrusion equipment. With the use of these equipment, manufacturers can create precisely engineered goods that adhere to the strict criteria needed by the construction sector.

Plastics are now crucial to reaching these aims as the automobile industry has also seen a trend towards lighter, more fuel-efficient vehicles. Automotive components such as bumpers, air ducts, and interior trim can use plastic extrusion items including tubing and profiles. Plastic extrusion machines' capacity to produce elaborate designs and complex shapes is in line with the automobile industry's need for novel lightweight solutions. As a result, automakers looking to streamline their production processes are paying more attention to the plastic extruder market.

Not only has the need for plastic items grown, but it has also accelerated the development of technology for plastic extrusion machines. Plastic extrusion machines have developed to meet these needs as firms seek to increase productivity, decrease waste, and improve efficiency. Modern machinery includes sophisticated control systems, automation, and real-time monitoring to ensure constant product quality and save downtime. Thus, driving the extrusion machines market revenue.

Plastic Extrusion Machine Market Segment Insights:

Plastic Extrusion Machine Machine Type Insights

The Plastic Extrusion Machine Market segmentation, based on Machine Type, includes Single-screw and Twin-screw. The twin-screw segment dominated the market in 2022. The mixing and compounding of various materials, including additives, fillers, and polymers, is very successful when using twin-screw extruders. This skill is very useful in fields like polymer mix manufacture and plastic compounding. Twin-screw equipment is used by manufacturers to produce consistent product quality and uniform material dispersion.

Plastic Extrusion Machine Process type Insights

The Plastic Extrusion Machine Market segmentation, based on Process type, includes Blown film extrusion, Sheet/film extrusion, Tubing extrusion and others. The blown film extrusion category generated the most income in 2022. A vast variety of plastic film products with different thicknesses, characteristics, and functionalities can be produced using the extremely adaptable method known as blown film extrusion. Due of its adaptability, it can be used for a variety of purposes, including packaging (such as bags, pouches, and shrink wrap), construction films, agricultural films, and medical packaging. Machines for extruding blown film are in greater demand as these sectors expand.

Plastic Extrusion Machine Solution Insights

The Plastic Extrusion Machine Market segmentation, based on Solution, includes new sales and Aftermarket. The new sales segment dominated the market in 2022. The manufacturing environment is changing as Industry 4.0 ideas, such as the use of data analytics, automation, and the Internet of Things (IoT), are adopted. Manufacturers of plastic extrusion machines are integrating smart and linked systems that allow for real-time equipment performance monitoring. These digital solutions appeal to clients wishing to streamline their operations because they increase productivity, decrease downtime, and provide predictive maintenance capabilities.

Plastic Extrusion Machine Application Insights

The Plastic Extrusion Machine Market segmentation, based on Application, includes Building & construction, Medical, Transportation, Consumer Goods and Others. The building & construction segment dominated the market in 2022. Due to their durability and light weight, goods made of plastic extrusion are preferred in the construction industry. They are simple to move, handle, and install, which lowers the cost of labor and transportation. These materials are perfect for uses including window profiles, roofing, and cladding because they are corrosion-, moisture-, and chemical-resistant.

Figure 1: Plastic Extrusion Machine Market by Application, 2022 & 2032 (USD Billion)Plastic Extrusion Machine Market by Application, 2022 & 2032

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

Plastic Extrusion Machine Regional Insights

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The Asia-Pacific Plastic Extrusion Machine Market dominated this market in 2022 (45.80%). High-rise buildings are being built in China as a result of the country's increasing urbanization. Due to its affordability and resistance to environmental influences, PVC profiles made by extrusion machines are frequently used for window and door frames. The demand for these extrusion goods has been fueled by the construction boom in cities like Shanghai and Beijing. Moreover, China’s Plastic extrusion machine market held the largest market share, and the Indian Plastic extrusion machine market was the fastest growing market in the Asia-Pacific region.

Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: Plastic Extrusion Machine Market Share By Region 2022 (USD Billion)Plastic Extrusion Machine Market Share By Region 2022

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

Europe Plastic extrusion machine market accounts for the second-largest market share. Plastic extrusion products are widely used in Germany due to the country's dedication to environmentally friendly and energy-efficient building practices. For window frames and insulation, the strict Passive House Standard frequently calls for the use of plastic extruded profiles. For instance, the German business Rehau uses extrusion technology to create energy-efficient window profiles. Further, the German Plastic extrusion machine market held the largest market share, and the UK Plastic extrusion machine market was the fastest growing market in the European region.

The North America Plastic Extrusion Machine Market is expected to grow at the fastest CAGR from 2023 to 2032. High-density polyethylene (HDPE) pipes are in higher demand in the United States as a result of the continued building of significant infrastructure projects like highways, bridges, and tunnels. Due to their longevity and resistance to corrosion, these pipes are utilized in place of more conventional materials like concrete and steel for water and wastewater management systems. Further, the U.S. Plastic extrusion machine market held the largest market share, and the Canada Plastic extrusion machine market was the fastest growing market in the North America region.

Plastic Extrusion Machine Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the pvc extrusion machine market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Plastic extrusion machine industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Plastic extrusion machine industry to benefit clients and increase the market sector. In recent years, the Plastic extrusion machine industry has offered some of the most significant advantages to medicine. Major players in the plastic extruder market, including Bausano & Figli SpA, Costruzioni Meccaniche Luigi Bandera SpA, Kabra ExtrusionTechnik Ltd., KraussMaffei Group, Milacron Holdings Corp., The Japan Steel Works, Toshiba Machine Co., Ltd., UNION Officine Meccaniche SpA, and Windsor Machines Limited and others, are attempting to increase market demand by investing in research and development operations.

The Japan Steel Works Ltd. (JSW) produces industrial machinery, steel, and energy goods. The business sells flat panel displays, electric and nuclear power goods, pressure vessels for petrochemical and oil refineries, clad steel plates, molding equipment, flat panel production and processing machinery, and forged and cast steel products. Electric power production, steel production, oil refinery, and Industrial Machinery Equipment and Tools industries all employ the company's Cast goods and steel ingots. Additionally, it does regional development tasks. The business operates factories in Yokohama and Hiroshima. It runs businesses in Europe, North America, and Asia. Japan's capital city of Tokyo is home to JSW.

In the $27 billion plastic technology and processing sector, Milacron is a world leader in the production, distribution, and service of highly engineered and customized systems. The only manufacturer in the world with a full line of products, including machinery for injection molding and extrusion, is Milacron. In addition to holding dominant positions in process control systems and maintenance, repair, and operation ("MRO") supplies for plastic processing equipment, Milacron maintains significant market positions across the board for these goods. Milacron's business approach is to provide customers with highly specialized machinery, parts, and services over the whole life of their plastic processing technology systems. With more than 27,000 clients, Milacron serves a wide range of industries and has enduring partnerships with many of them. Milacron also commands significant market shares in North America and in developing nations like China and India.

Key Companies in the plastic extrusion machine market include

  • Bausano & Figli SpA

  • Costruzioni Meccaniche Luigi Bandera SpA

  • Kabra ExtrusionTechnik Ltd.

  • KraussMaffei Group

  • Milacron Holdings Corp.

  • The Japan Steel Works

  • Toshiba Machine Co., Ltd.

  • UNION Officine Meccaniche SpA

  • Windsor Machines Limited.

Plastic Extrusion Machine Market Segmentation

Plastic Extrusion Machine Machine Type Outlook

  • Single-screw

  • Twin-screw

Plastic Extrusion Machine Process type Outlook

  • Blown film extrusion

  • Sheet/film extrusion

  • Tubing extrusion

  • Others

Plastic Extrusion Machine Solution Outlook

  • New sales

  • Aftermarket

Plastic Extrusion Machine Application Outlook

  • Building & construction

  • Medical

  • Transportation

  • Consumer Goods

  • Others

Plastic Extrusion Machine Regional Outlook

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe

  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific

  • Rest of the World

    • Middle East

    • Africa

    • Latin America

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