Extruded Plastics Global Market Report 2024: Market Size To Reach $315.9 Billion By 2028
Extruded Plastics Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033
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Extruded Plastics Market Size 2024 And Growth Rate: A Look at the Impressive Growth
A notable trend in the industrial landscape is the robust growth of the extruded plastics market. The market size has seen strong acceleration in recent years. The sector projected to grow from $232.87 billion in 2023 to $246.52 billion in 2024 at a compound annual growth rate CAGR of 5.9%. The factors responsible for this increase during the historic period can be traced to industrialization and manufacturing growth, lightweighting in automotive, construction and infrastructure development, sustainable practices, consumer goods, and most notably, the packaging segment.
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What Factors are Contributing to the Growth of the Extruded Plastics Market in the Future?
The extruded plastics market size is expected to see strong growth in the next few years, reaching $315.92 billion in 2028 at a compound annual growth rate CAGR of 6.4%. A variety of factors are set to influence this growth in the forecast period. These include the emergence of eco-friendly extruded plastics, the advent of electric and autonomous vehicles, infrastructure modernization, the rise in medical device manufacturing, and advancement in extrusion processes. Major trends in the forecast period that are worth watching out for include the advent of high-performance extruded plastics, 3D printing with extruded plastics, smart extruded products, co-extrusion technology, and foam extrusion.
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Which Are The Key Industry Players in The Extruded Plastics Market?
Heavily influenced by major companies such as Apogee Enterprises Inc., Olsen Doors and Windows Limited, Fletcher Building Limited, YKK AP Inc., Bradnam's Windows & Doors, Fenesta Building Systems, PGT Innovations Inc., Geeta Aluminium Co. Pvt. Ltd., Ply Gem Holdings Inc., Andersen Corporation, and Sapa Group, the extruded plastics market landscape is both competitive and innovative.
Emerging Trends And Technological Advancements: How Is It Shaping The Extruded Plastics Market?
Technological advancements have emerged as a key trend gaining popularity in the extruded plastics market. Companies in the sector are focused on developing technologically advanced products to reinforce their position. For example, in April 2021, Sulzer Chemtech, a Switzerland-based manufacturer of products and services for polymer production, and plastics processing, and Borealis, an Austria-based chemicals and fertilizer company, introduced a new PP foam extrusion technology with the goal of increasing efficiency and lowering costs.
What Does The Extruded Plastics Market Segmentation Look Like?
The extruded plastics market covered in this report is segmented based on:
1 By Type: Low Density Polyethylene, High Density Polyethylene, Polypropylene, Polystyrene, Polyvinyl Chloride, Other Types
2 By Form: Films, Pipes, Sheets, Tubes, Wires and Cables
3 By End-User: Packaging, Building and Construction, Automotive, Consumer Goods, Electrical and Electronics, Other End Users
Which Are The Key Regions Driving The Extruded Plastics Market?
Asia-Pacific was the largest region in the extruded plastics market in 2023. It is forecasted to be the fastest-growing region in the extruded plastics market in the next few years. The regions covered in this report range from Asia-Pacific, Western Europe, Eastern Europe, North America, South America to the Middle East and Africa.
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