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Extruded Plastics Market Global Industry Size Share Trend and Forecast To 2022
Global Extruded Plastics Market Information-by Type (Low Density Polyethylene, High Density Polyethylene, Styrene, and Others), by End-User (Packaging, Building & Constructions, Automotive, Consumer Goods, and Others) and by Region - Forecast till 2022
Introduction / Overview:
The global extruded plastics market is expected to grow at USD 280 billion in 2022 with the CAGR of 4.9% from 2018 to 2022.
The drivers of this market are low feedstock and rise in energy price that tends to reduce the overall cost of extrudes. In-addition to this an innovation in extruded plastics to be utilized in medical and agriculture market will fuel this market. The polystyrene segment is expected to grow tremendously at the CAGR during the forecast period. Low thermal conductivity and poor resistance to oxygen and moisture make this resin a suitable material to be used in packaging of food products. In addition to this, polystyrene is an inexpensive thermoplastic resin to be used in, toys, construction and others. Polystyrene finds applications in food/non-food packaging, and in consumer products such as frames, cable ducts, tubes, sale displays/signage, containers, bottles, trays, tumblers, disposable cutlery and others.
Geographically, maximum consumer of extruded plastics market is in Asia-Pacific followed by U.S. in North America which shows a remarkable growth of the extruded plastics market due to the growing automobile sector there. Europe show a stable growth due to recent economic crises in Western Europe.
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The global extruded plastics market has been evaluated to be rapidly growing and is expected to grow tremendously. Benefits like low thermal conductivity and poor resistance to oxygen and moisture make this resin a suitable material to be used in packaging of food products which has increased its market globally. With numerous usage of extruded plastics, the global extruded plastics market is expected to increase in future. Moreover, increasing demand in construction industry owing to the rising surge for plastics is another factor that drives the global extruded plastics market growth over the forecasted period 2022.
Based on type global extruded plastics market has been segmented into low density polyethylene, high density polyethylene, styrene, and others. Styrene is expected to grow at the CAGR during the forecasted period. Low density polyethylene segment dominated the market in 2017 as it one of the most versatile flexible packing materials that can be formulated for several packaging applications.
Asia Pacific region is expected to maintain its dominance in the global market of extruded plastic. Emerging markets of China, Japan and India are expected to boost the Asia Pacific folic acid market. Other emerging markets are North America, Europe and Middle East countries. Asia Pacific has the largest market share of global folic acid, followed by Europe and other parts of the world.
The largest market of extruded plastics is in Asia-Pacific owing to the growth of electrical, construction and automobile industry. Rapid industrialization in countries like China, India and Mexico contribute further in the growth of this market. Moreover, low thermal conductivity and poor resistance to oxygen and moisture make this resin a suitable material to be used in food packaging products particularly in China, India and japan which will further drive this market in the coming years. Robust growth of plastic and automotive industries in Asia-Pacific is expected to be largest consumer of extruded plastics market. It is seen that North America is the second largest consumer of extruded plastics due to the changing trends in the automobile industry there.
Market Key Players:
- Desku Group Inc,
- Halliburton Company,
- Excalibar Minerals LLC,
- P & S Extruded Plastics Mining Co. Ltd,
- Ashapura Minechem Ltd,
- Anglo Pacific Minerals,
- CIMBAR Performance Minerals,
- Kaomin Industries,
- Andhra Pradesh Mineral Development Corporation Limited,
- Mil-Spec Industries Corporation.
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