“We have produced a new premium report Extruded Plastics Market. The report covers the analysis of global as well as regional markets of Extruded Plastics. The objective of the study is to identify market sizes of different segments & countries in recent years and to forecast the values for the next six years. The report also deep dives into the sub-segments of Extruded Plastics Market by type (low density polyethylene, polypropylene, polyvinyl chloride, and high density polyethylene, polystyrene), end user (packaging, building & construction, automotive, consumer Goods, electrical & electronics and others) through main geographies in the global market such as North America, Europe, Asia-Pacific and RoW. The global extruded plastics market was worth USD 191.30 billion in 2016 and it is projected to reach USD 277.29 billion in 2024 expanding at a CAGR of 4.8% between 2018 and 2024.
The report covers market changing dynamics including drivers, restraints, opportunities, and trends expected to encouragement the expansion of the Extruded Plastics Market during the said period. The report also provides market attractiveness analysis, by geography, and market share analysis, by key players respectively. Some of the prominent participants in the Global Extruded Plastics Market are Formosa Plastics Group, SABIC (Saudi Arabia Basic Industries Corporation), Sigma Plastics Group, JM Eagle, Sealed Air Corporation, Berry Plastics Corporation, E. I. Du Pont De Nemours and Company, AEP Industries Inc., The DOW Chemical Company and Chevron Phillips Chemical Company LLC.”
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PVC will remain one of the fastest growing segment over the forecast period
Plastic extruction is high volume manufacturing process in which raw plastic is melted and formed into a continuous profile .Extruction is the technology used for converting plastic materials to manufacture pipes, film tube, sheets, and products for various industrial applications. Increasing demand from the packaging industry due to development in food and beverage industry is expected to drive the extruded plastic market over the forecast period. Owing to the rise in the demand for wire, cable, computers, and accessories the electronics and communication, industry is likely to propel the growth of the plastic extraction market. However, volatility in raw materials is the factor restraining the growth of the plastic extruction market. On the other hand, injection molding for processing plastics likely to hinder the quality of the product of the extruded plastics. High standard of living and increase in the disposal income of the modern customer is expected to influence the key opportunity in the extruded plastic market. Moreover, extruded plastics are derived from crude oil .nevertheless; rising consumption of plastic will open up the opportunities for the market in the upcoming years. The key players profiled in the plastic extrusion market are Du Pont De Nemours, The DOW Chemical Company, Berry Plastics Corporation, and Sigma plastics. Sigma plastic acquires California-based Poly Pak America that converts heavy-duty outdoor bags as well as mailers and other packaging.
Asia Pacific is the fastest growing region for extruded plastic market
Among the geographies, Asia Pacific is expected to be the fastest growing region owing to the fast-paced industrialization and flourishing of e-commerce. This product is likely to show significant growth particularly in India, China, and Japan.North America shows a remarkable growth in the extrusion market due to the growing automobile sector.