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Extruded Plastics Global Market 2024 - Industry Analysis, Future Trends, Segmentation And Key Players
Extruded Plastics Global Market
As per the report, 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 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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Elevated Packaging Industry Fuels Growth Of The Extruded Plastics Market
The rise of the packaging industry is significantly contributing to the growth of the extruded plastics market going forward. 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. For instance, in 2021, according to the India Brand Equity Foundation, an Indian government export promotion agency, packaging demand and consumption in India increased by 200%, which increased from 4.3 kgs per person per annum (PPPA) to 8.6 kgs PPPA. Therefore, the rise of the packaging industry is driving the growth of the extruded plastics market.
Technological Advancements Drive Innovation In The Extruded Plastics Market
Technological advancements have emerged as a key trend gaining popularity in the extruded plastics market. 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%.
The extruded plastics market covered in this report is segmented -
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
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Major companies operating in the extruded plastics market include Apogee Enterprises Inc., Olsen Doors and Windows Limited, Fletcher Building Limited, YKK AP Inc., Bradnam's Windows & Doors, Fenesta Building Systems, PGT Innovations Inc., Geeta Aluminium Co. Pvt. Ltd., Ply Gem Holdings Inc., Andersen Corporation, Sapa Group, Alupure, Alteza Healthcare Private Limited, Reynaers Aluminium, Schuco International Group, Bemis Company Inc., LyondellBasell Industries N.V., Trex Company Inc., Teijin Limited, Borealis AG, Westlake Corporation, NOVA Chemicals Corporation, Mitsubishi Chemical Group Corporation, Plastipak Holdings Inc., Sigma Plastics Group of FL, Bunzl Extrusions Inc., Avient Corporation, The Ensinger Group, REHAU Polymers Pvt Ltd, Primex Plastics Private Limited
Contents of the report:
1. Executive Summary
2. Extruded Plastics Market Report Structure
3. Extruded Plastics Market Trends And Strategies
4. Extruded Plastics Market - Macro Economic Scenario
5. Extruded Plastics Market Size And Growth
…..
27. Extruded Plastics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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