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Extruded Plastics Market Set for Strong Growth, Projected to Reach $315.92 Billion by 2028 with a CAGR of 6.4%. Key Players: Apogee Enterprises Inc., Olsen Doors and Windows Limited, Fletcher Building Limited
Extruded Plastics Market
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the extruded plastics industry. This report on extruded plastics market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The extruded plastics market size has grown strongly in recent years. It will grow from $232.87 billion in 2023 to $246.52 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to industrialization and manufacturing growth, lightweighting in automotive, construction and infrastructure development, sustainable practices, consumer goods and packaging. The extruded plastics market size is expected to see strong growth in the next few years. It will grow to $315.92 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%.
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Key Market Players:
Apogee Enterprises Inc., Olsen Doors and Windows Limited, Fletcher Building Limited, YKK AP Inc., Bradnam's Windows & Doors are prominent players in the extruded plastics industry.
Market Drivers:
According to the Extruded Plastics Market Report 2023 by The Business Research Company, the key factors driving the growth of the extruded plastics market, includes the growing demand for the automotive industry. The automotive industry refers to the collection of companies, organizations, and activities involved in the design, development, manufacturing, marketing, sale, and maintenance of motor vehicles. Extruded plastics are widely used in the automotive industry due to their versatility, durability, and cost-effectiveness and to meet specific performance requirements, such as resistance to temperature, chemicals, and UV exposure, as well as their capacity for cost-effective mass production. For instance, in May 2023, according to the European Automobile Manufacturers Association, a Belgium-based automobile manufacturers association, in 2022, the global production of motor vehicles reached 85.4 million units, reflecting a notable increase of 5.7% compared to 2021.
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Market segments for extruded plastics include:
1) By Type: Low Density Polyethylene, High Density Polyethylene, Polypropylene, Polystyrene, Polyvinyl Chloride, Other Types
2) By Form: Films, Pipes, Sheets, Tubes, Wires and Cables
3) By End-User: Packaging, Building and Construction, Automotive, Consumer Goods, Electrical and Electronics, Other End Users
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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