Extruded plastic is a versatile material renowned for its applications, features, and uses across various industries. It finds extensive application in construction for manufacturing pipes, profiles, and sheets, serving as a durable, cost-effective solution. In the packaging sector, it is used for creating films, containers, and bottles, offering excellent barrier properties and flexibility. The automotive industry relies on extruded plastic for weather stripping, seals, and interior components due to its resilience and lightweight nature. Additionally, extruded plastic caters to healthcare needs by producing medical tubing, IV bags, and surgical components, ensuring hygiene and precision in medical applications. Its adaptability and reliability make it indispensable across diverse sectors, supporting modern industrial development.
According to Data Bridge Market Research, the Global Extruded Plastic Market is expected to reach USD 363.93 billion by 2029. The market is expected to grow with a CAGR of 5.78% in the forecast period of 2022 to 2029.
“Increasing number of construction activities worldwide boosts the market’s growth”
The extruded plastic market is experiencing growth due to the increasing number of construction activities worldwide. Construction projects for residential, commercial, and infrastructure development demand a wide range of plastic extruded products, including pipes, profiles, and sheets. Extruded plastics offer durability, versatility, and cost-effectiveness, making them essential in modern construction. The surge in urbanization and population growth is driving this trend, as the need for housing and infrastructure expansion escalates. Consequently, the extruded plastic market is thriving as construction remains a key driver of its growth.
What restraints the growth of the global extruded plastic market?
“High costs associated restraints the market’s growth”
The extruded plastic market faces a significant constraint due to the high costs associated with the production process. Extrusion involves melting raw plastic materials and shaping them into specific profiles, which demands specialized machinery and energy consumption. Additionally, the price of plastic resins can fluctuate. These factors contribute to elevated production costs, which may be passed on to consumers. In price-sensitive markets, this can limit the adoption of extruded plastic products, affecting market growth as manufacturers grapple with maintaining competitiveness while managing expenses.
Segmentation: Global Extruded Plastic Market
The global extruded plastic market is segmented on the basis of type, end user and form.
- On the basis of type, the extruded plastic market is segmented into low-density polyethylene (LDPE), polypropylene (PP), polyvinyl chloride (PVC), high-density polyethylene (HDPE), polystyrene (PS), acrylonitrile butadiene styrene (ABS), polycarbonate (PC), styrene and others.
- On the basis of end user, the extruded plastic market is segmented into packaging, building and construction, automotive, consumer goods, electrical and electronics, energy, medical, power and lighting and others.
- On the basis of form, the extruded plastic market is segmented into films, sheets, pipes and tubes, wires and cables and others.
Regional Insights: Asia-Pacific dominates the Global Extruded Plastic Market
Asia-Pacific dominates the extruded plastic market during the forecast period of 2022-2029 due to increasing consumption of plastics in various developing countries of this region is a key factor driving market growth. Additionally, a growing number of manufacturing and construction activities, coupled with increased investment in advanced technologies, are further propelling the market's growth rate in this region. These factors collectively contribute to the expanding extruded plastic market in the region.
Recent Developments
- In October 2021, Tekni-Plex Healthcare revealed its acquisition of Johnson Plastic Group (JPG), a company specializing in precision extrusions for medical device applications. JPG focuses on providing extrusion solutions for various medical device applications, particularly in therapeutic and interventional procedures.
To know more about the study visit, https://www.databridgemarketresearch.com/reports/global-extruded-plastic-market
The Prominent Key Players Operating in the Global Extruded Plastic Market Include:
- Formosa Plastics Corporation (U.S.)
- SABIC (Saudi Arabia)
- JM EAGLE, INC. (U.S.)
- Sealed Air (U.S.)
- Berry Global Inc. (U.S.)
- DuPont (U.S.)
- Atlantis Plastic Company (U.S.)
- Chevron Phillips Chemical Company LLC (U.S.)
- GSH Industries Plastics Manufacturing and Molding (U.S.)
- Exxon Mobil Corporation (U.S.)
- Engineered Profiles LLC (U.S.)
- Arkema (France)
- Saint-Gobain Performance Plastics (France)
- Preferred Plastics, Inc. (U.S.)
- SFR Industries (U.S.)
- ACE (U.S.)
- Absolute Custom Extrusions, Inc. (U.S.)
- Britech Industries (U.S.)
- Petro Extrusion Technologies, Inc. (U.S.)
- Dow (U.S.)
- Amcor plc (U.K.)
Above are the key players covered in the report, to know about more and exhaustive list of global extruded plastic market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Extruded Plastic Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
