Press release
Extruded Plastics Market Growth Prospects, Opportunities, And Industry Forecast 2023-2032
Extruded Plastics Market
The Business Research Company's Extruded Plastics Global Market Report 2023 identifies rise of the packaging industryas the major driver for the Extruded Plastics market's growth in the forecast period. Packaging refers to enclosing or protecting products for distribution, storage, sale, and use. Extruded plastics are helpful in creating highly durable and effective packaging solutions. As a result, the rise of the packaging industry increases the demand for the extruded plastics market.
The global extruded plastics market size grew from $222.02 billion in 2022 to $237.04 billion in 2023 at a compound annual growth rate (CAGR) of 6.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global extruded plastics is expected to grow to $289.78 billion in 2027 at a CAGR of 5.2%.
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Major competitors in the Extruded Plastics market are The DOW Chemical Company, Sigma Plastics Group., SABIC Innovative Plastics, Chevron Phillips Chemical Company LLC, JM Eagle, Berry Global Inc.
A key trend in the Extruded Plastics market includes technological advancements. Major companies operating in the extruded plastics sector are focused on developing technologically advanced products to reinforce their position. For instance, in April 2021, Sulzer Chemtech, a Switzerland-based manufacturer of products and services for polymer production, and plastics processing, and Borealis, an Austria-based chemicals and fertilizer company, introduced a new PP foam extrusion technology with the goal of increasing efficiency and lowering costs. This innovative PP foam extrusion method offers lower prices and better efficiency across the value chain, supports end-market initiatives toward more circular solutions, and is predicted to reduce production costs by up to 60%.
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The Extruded Plastics market is segmented -
• By Type: Low Density Polyethylene, High Density Polyethylene, Polypropylene, Polystyrene, Polyvinyl Chloride, Other Types
• By Form: Films, Pipes, Sheets, Tubes, Wires and Cables
• By End-User: Packaging, Building and Construction, Automotive, Consumer Goods, Electrical and Electronics, Other End Users
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Extruded Plastics market.
The Business Research Company's "Global Extruded Plastics Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Extruded Plastics Market Include:
1. Executive Summary
2. Extruded Plastics Market Characteristics
3. Extruded Plastics Market Trends And Strategies
4. Extruded Plastics Forwarding Market - Macro Economic Scenario
5. Extruded Plastics Market Size And Growth
…………………………………………………………….
26. Africa Extruded Plastics Market
27. Extruded Plastics Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Extruded Plastics Market
29. Extruded Plastics Market Future Outlook and Potential Analysis
30. Appendix
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