Extrusion is a technology used for converting polymers to manufacture pipes, films, tubes, sheets, and various other products for industrial applications. In this process, a material is designed by forcibly pushing it through a tool that eventually shapes it. Plastics of all types such as low-density polyethylene, high-density polyethylene, polypropylene, and polystyrene are appropriate for extrusion as they are easily malleable. Low-density polyethylene exhibits exceptional uniformity and consistency in its dimensions. Extruded plastic products can be manufactured in infinite lengths and shapes.
Extruded Plastics Market: Drivers & Restraints
Developments in the packaging industry are predicted to be the primary driver of the extruded plastics market. Any shift (positive or negative) in this sector results in a significant rise or fall in this market. Asia Pacific, especially India and China, holds a prominent production capacity of petrochemical products and molded plastics mostly employed in the rigid packaging of food & beverages, cosmetics, consumer goods, industrial items, bottles, and containers. However, the manufacture, use, and disposal of molded plastic materials such as polyvinyl chloride (PVC) poses substantial and unique environmental and human health hazards. This is anticipated to hamper the advancement of the extruded plastics market. International manufacturers are researching ways to lessen the weight and escalate the strength and lives of car components, building materials, and various other products. Plastics can replace almost any material, thereby reducing the cost of raw material and production. Hence, extruded plastic products are now discovering ways to penetrate end-use industries such as building & construction and transportation.
Extruded Plastics Market: Segmentation
The extruded plastics market can be segmented based on type into the following categories:
LDPE was the dominant segment of the extruded plastics market in 2015, accredited to the rising demand for it from the plastic packaging industry.
Extruded Plastics Market: Segmentation
The extruded plastics market can be divided in terms of form into the following groups:
- Wires & cables
- Others (Laminations)
The market can be split by application into the following divisions:
- Building & construction
- Power & lighting
- Energy (Wind turbine & solar panels)
- Electrical & electronics (W&C, computers, and appliances)
- Medical (medical tubing)
- Others (Food & beverages, pharmaceuticals)
Extruded plastics offer abundant benefits to the end-users over other materials. For instance, in applications such as construction, the extruded plastic doors and windows provide advantages over aluminium and wood, as their frames do not degrade upon exposure to sun and water or necessitate maintenance. They also possess higher insulation properties and can be completely recycled.
Extruded Plastics Market: Region-wise Outlook
The global extruded plastics market can be roughly distributed on the basis of geography over five key regions including North America, Asia Pacific, Latin America, Europe, and Middle East & Africa. Asia Pacific is anticipated to be an attractive region for the extruded plastic market, which is attributed to the presence of emerging markets in the region. Therefore, international players have increased their focus on Asia Pacific. Markets for extruded plastics in North America and Europe are mature and provide limited opportunities in terms of untapped potential.
Extruded Plastics Market: Key Market Players
Key players identified in the extruded plastics market include:
- Sigma Plastics Group
- ExxonMobil Chemical Company
- Berry Plastics Corporation
Note : All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of Transparency Market Research.