Plastic Extrusion Machines Market Estimated To Grow at a CAGR of 4.6% by 2028 | IMARC Group

According to IMARC Group, the global plastic extrusion machines market size reached US$ 6.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 8.5 Billion by 2028, exhibiting a growth rate (CAGR) of 4.6% during 2023-2028.

The report has segmented the market by region, machine type, process type, material, solution and application.

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Factors Affecting the Growth of the Plastic Extrusion Machines Industry:

• Increasing Demand for Plastic Products:

Plastic products find extensive use across a wide range of industries, including packaging, construction, automotive, electronics, and consumer goods. As the demand for these products is growing, the need for plastic extrusion machines to manufacture them is rising. Plastic packaging materials, such as bottles, containers, and films, are in high demand due to their convenience, lightweight nature, and durability. Plastic extrusion machines are essential for producing these packaging materials in large quantities and with consistent quality.

• Technological Advancements:

Technological advancements are leading to the integration of advanced automation and control systems in plastic extrusion machines. These systems enhance precision, reduce human error, and optimize production efficiency, making the manufacturing process more streamlined and cost-effective. Energy-efficient technologies, including improved heating and cooling systems, have been incorporated into plastic extrusion machines. This not only reduces energy consumption but also lowers operational costs, making these machines more attractive to manufacturers.

• Infrastructure Development:

Plastic extruded products like pipes, profiles, and sheets are essential components in construction projects. They are used for plumbing, electrical conduit, insulation, and structural elements. The growing number of infrastructure development projects is leading to a higher demand for these products, driving the need for plastic extrusion machines. The increasing urbanization rates in many regions result in the construction of residential and commercial buildings, as well as infrastructure, such as roads and bridges. Plastic extrusion products find extensive use in these applications, contributing to the market growth.

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Plastic Extrusion Machines Market Report Segmentation:

By Machine Type:

• Single-screw
• Twin-screw

Twin-screw represented the largest segment as twin-screw extruders offer versatility and efficiency.

By Process Type:

• Blown Film Extrusion
• Sheet/Film Extrusion
• Tubing Extrusion
• Others

Blown film extrusion accounted for the largest market share due to its utilization in packaging and agricultural film production.

By Material:

• PVC
• Polypropylene (PP)
• Polyethylene (PE)
• Others

PVC exhibits a clear dominance in the market on account of its versatility and cost-effectiveness.

By Solution:

• New Sales
• Aftermarket

New sales hold the biggest market share as manufacturers frequently upgrade their machinery to benefit from technological advancements and improve production efficiency.

By Application:

• Building and Construction
• Medical
• Transportation
• Consumer Goods
• Others

Building and construction dominates the market as plastic extruded products like pipes, profiles, and sheets are essential in various construction applications.

Regional Insights:

• North America
o United States
o Canada
• Asia Pacific
o China
o Japan
o India
o South Korea
o Australia
o Indonesia
o Others
• Europe
o Germany
o France
o United Kingdom
o Italy
o Spain
o Others
• Latin America
o Brazil
o Mexico
o Others
• Middle East and Africa

Asia Pacific enjoys the leading position in the plastic extrusion machines market due to rapid urbanization and infrastructure development.

Global Plastic Extrusion Machines Market Trends:

The growing emphasis on sustainability and eco-friendly materials is offering a favorable market outlook. As a result, the market is witnessing an increase in the adoption of plastic extrusion machines capable of processing recycled plastics and bio-based materials.

Manufacturers are incorporating advanced automation technologies and Industry 4.0 principles into plastic extrusion machines. This leads to improved precision, higher efficiency, and predictive maintenance capabilities.

Leading Companies Operating in the Global Plastic Extrusion Machines Industry:

• Apex Engineers
• Bausano & Figli S.p.A.
• China National Chemical Corporation
• Costruzioni Meccaniche Luigi Bandera SpA
• DEGUMA-SCHÜTZ GmbH
• Extrusion Technik USA Inc.
• Hillenbrand Inc.
• Kabra ExtrusionTechnik Ltd.
• Mitsuba Mfg. Co. Ltd.
• Reifenhäuser GmbH & Co. KG Maschinenfabrik
• Shibaura Machine Co. Ltd.
• The Japan Steel Works Ltd.
• Well Shyang Machinery Co. Ltd.
• Windsor Machines Limited

Other Key Points Covered in the Report:

• COVID-19 Impact
• Porters Five Forces Analysis
• Value Chain Analysis
• Strategic Recommendations

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This release was published on openPR.