Extruded Plastics Market is anticipated to grow from $ 217.47 billion in 2021 to $ 294.84 billion by 2027, at a CAGR of 4.7% during the forecast 2021-2027
HYDERABAD, TELANGANA, INDIA, November 22, 2022 /EINPresswire.com/ — Extruded Plastics Market is anticipated to grow from $ 217.47 billion in 2021 to $ 294.84 billion by 2027, at a CAGR of 4.7% during the forecast 2021-2027
Plastic extrusion is a high-volume manufacturing process in which raw plastic is melted and formed into a continuous profile. The extruded plastics are plastics of different sizes and shapes that have undergone the extrusion process. The extrusion produces items such as frame weatherstripping, fencing, deck railings, window frames, plastic films, and sheeting, pipes/tubing, thermoplastic coatings, and wire insulation. Plastic extrusion is one of the widely used manufacturing processes for the forming of plastics. The extruded plastic.
The increase in construction and building activities is driving the market’s revenue. With the growing demand used for decoration and construction, they are also used for cladding panels, cable pipes, windows, and insulation market to drive market growth. The rising demand for extruded plastics products in the packaging industry is the major factor driving the market growth. The increasing work population, disposable income, and evolving lifestyle drive market growth.
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The increasing costs and side effects of using plastics is the major factor restraining the market growth.
Extruded Plastics Market – By Type:
Based on the type:
The Low-Density Polyethylene Segment was recorded as the largest market share in the extruded plastics market in 2022 and it is anticipated to grow significantly during the forecast period. Low-density polyethylene is a soft, flexible, and lightweight plastic material. Low-density polyethylene is used for its low-temperature flexibility, toughness, and corrosion resistance to drive market growth.
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Extruded Plastics Market – By End-Use:
Building & Construction
Electrical & Electronics
Based on the end-use:
Packaging held the largest share in the extruded plastics market in 2022 and it is anticipated to grow significantly during the forecast period. Packaging is the process of designing a package for the consumer product. The packaging helps in differentiating the product from competitors and makes it easy for customers to identify the product and therefore it is extremely important in the extruded plastics market.
Extruded Plastics Market – By Application:
Pipes and Tubing
Windows and Door Profiles
Based on the application:
The Pipes and Tubing segment held the largest share market in the extruded plastics market in 2022 and it is anticipated to grow significantly during the forecast period. The tubing is used for fluid transport, structural applications, and electrical sheathing and it is used cylindrical in shape and may have rectangular, squared sections. The pipe is a round tubular to distribute fluids and gases and it is designated by normal pipe size.
Middle east and Africa
The Asia Pacific is the largest growing region in the extruded plastics market and it is expected to grow significantly during the forecast period. The Asia Pacific has a high availability in the countries such as China, Japan, India, Indonesia, and South Korea. The reason for this dominance of the region is the growth and popularity of the extruded plastics market and the increasing investment in manufacturing and construction activities and rapid plastic production and this is likely to create growth in the region’s market. The growing demand for extruded plastics from emerging and developed countries drives the region’s market growth. China is the largest market supporting the growth of extruded plastics. There has been rapid growth in the extruded plastics market in the region leading to global market growth.
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North America is expected to be growing lucratively in the extruded plastics market.
Latest Industry Developments:
In May 2021- The Jordan Firm, L.P. 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.
In 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.
In October 2021- Tekni-Plex Healthcare announced the acquisition of Johnson Plastic Group, 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.
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