Allied Market Research has published a report titled, “Extruded Plastics Market by Material Type (Polyethylene, Polypropylene, Polyvinyl Chloride, Polystyrene, and Others), Application (Pipes and Tubes, Wire Insulation, Window and Door Profiles, Films and Others), and End-Use (Building & Construction, Packaging, Automotive, Industrial, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030.” According to the report published by Allied Market Research, the global extruded plastics was estimated at USD 185.6 billion in 2020 and is projected to reach USD 289.2 billion by 2030, registering a CAGR of 4.6% from 2021 to 2030.
Drivers, constraints and opportunities-
Rising demand from the building and construction industry and escalating demand from the packaging industry are driving the growth of the global extruded plastics market. On the other hand, the environmental and health issues associated with the use of extruded plastics hamper the growth to some extent. However, falling prices due to the availability of raw materials at discounted prices are expected to create lucrative opportunities in the industry.
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Extruded plastics are mainly used in the packaging, building and construction, automotive, electrical and electronics industries. End-use industries were mainly affected during the initial phase of the pandemic, which had a negative effect on the market.
Disrupted supply chain and shutdown of several electronics companies has affected the growth of the market.
The polyethylene segment to retain the lion’s share-
By material type, the polyethylene segment held the major share in 2020, attracting almost a third of the global extruded plastics market, and is expected to retain the lion’s share throughout the forecast period. This is due to the increase in demand for the manufacture of needle sheaths, tubes and other healthcare products. The polypropylene segment, on the other hand, is expected to quote the fastest CAGR of 5.2% throughout the forecast period. Rising demand for food grade tube manufacturing owing to rise in demand for packaged food and beverages is driving the growth of the segment. The report also includes the segment analysis of Polyvinyl Chloride and Polystyrene.
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Movie segment will dominate by 2030
By application, the films segment accounted for more than a third of the global extruded plastics market share in 2020 and is expected to maintain its dominance throughout the forecast period. Indeed, the majority of consumers have started to prefer packaged foods due to the increase in disposable income and busy schedules. However, the window and door profiles segment would show the fastest CAGR of 5.2% by 2030. Rising building and construction sector is driving the growth of the segment.
Asia-Pacific will continue its dominance until 2030
By geography, Asia-Pacific garnered the largest share in 2020, contributing more than two-fifths of the global extruded plastics market, owing to the increase in automobiles, electronics, aerospace and medical products among the population of the Asia-Pacific region. Moreover, it is expected to grow at the highest CAGR of 5.4% from 2021 to 2030. The research also includes Europe, North America, and LAMEA regions.
Main market players
China Plastic Extrusion Ltd.
Atlantis Plastics, Inc.
Crescent Plastics Incorporated
Lakeland Plastics, Inc.
Keller Plastics Inc.
Petro Packaging Company, IncPexco LLC
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Allied Market Research (AMR) is a market research and business consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services and market insights across 11 verticals. Adopting in-depth research methodologies, AMR helps its clients make strategic business decisions and achieve sustainable growth in their market areas. We are staffed with qualified analysts and experts and have extensive experience working with many Fortune 500 companies and small and medium enterprises.
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