The global extruded plastics market was valued at $194 billion in 2021 and it is expected to reach $340.3 billion at a CAGR of 5.10% between 2022 and 2032.MILWAUKEE, WISCONSIN, UNITED STATES, April 19, 2022 /EINPresswire.com/ -- According to a market report, published by Sheer Analytics and Insights, the total Extruded Plastics Market was valued at $194 billion in 2021 and it is expected to reach $340.3 billion at a CAGR of 5.10% through the forecast period. Plastics that are made by using the extrusion technique are known as extruded plastics. However, the extruded plastics market consists of suppliers of key resin types such as low-density polyethylene, polypropylene, polyvinyl chloride, high-density polyethylene, and others. There are various companies in the global market which are focusing on the production of feedstock materials such as nickel-based alloys, molybdenum, aluminum bronze, and brass, chromium steels, stainless steels, carbon steels, among others. The increasing demand for extruded plastics in companies of automotive, building and construction, consumer goods, electrical, and electronics, among other industries are expected to drive the market during the forecast period. Extruded plastic is produced by melting and shaping plastic into a continuous profile to transform it into various shapes and sizes. This method is used to produce various plastic products such as pipes, tubes, containers, bottles, packaging, and other things.
At present days, construction activities are rising. Therefore, it would increase the demand for extruded plastics across various regions which would help the market to make significant growth during the forecast period. With this, low energy and feedstock prices might increase the demand for extruded plastics in the global market. The upthrust in the level of disposable income and the rapidly changing lifestyle of consumers are two major factors that will also drive the market in upcoming years. In addition, the rising demand for extruded plastic in agriculture industries would enhance the overall market growth. Moreover, rising demand in the developing countries such as India, Indonesia, China, Japan, South Korea, and Thailand among others would provide profitable opportunities for market growth.
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However, the high cost associated with extruded plastic impacts the market negatively. Moreover, the side effects linked with the use of plastics would hinder the growth of extruded plastics market in various regions. In addition, with the fluctuating prices of crude oil and due to unstable economic and political conditions of several developing countries, the market will face some challenges in the upcoming years. However, extruded plastics are broadly used in electrical and electronic products in various components, appliances, and accessories among others, which will drive the growth rate of the market across the globe. Along with these, there is another packaging system such as wrappers, shells, containers, and bottles in which extruded plastics are widely used.
According to the study, key players dominating in the extruded plastics market are The Dow Chemicals Company (U.S), SABIC Chemical Manufacturing Company (Saudi Arabia), DuPont Chemicals Company (U.S), Atlantis Plastics (U.S), China Plastic Extrusion Limited (China), GSH Manufacturing Industries (U.S), Petro Packaging Company (U.S), Lakeland Company (U.K), Saint Gobain Manufacturing Company (France) and others.
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The Global Extruded Plastics Market Has Been Segmented Into:
The Global Extruded Plastics Market – By Type:
Low Density Polyethylene
High Density Ethylene
The Global Extruded Plastics Market – By Applications:
Pipes and Tubing
Windows and Door Profiles
The Global Extruded Plastics Market – By End-User:
Building and Construction
The Global Extruded Plastics Market – By Regions:
Rest of Europe Countries
Rest of Asian Countries
Latin America, Middle East & Africa (LAMEA):
Rest of LAMEA
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