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Global Feed Screw Barrel Market Analysis and Forecast 2024
Global Feed Screw Barrel Market
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According to The Business Research Company's, The feed screw barrel market size has grown strongly in recent years. It will grow from $1.63 billion in 2023 to $1.75 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to growth in the packaging industry, increasing demand for extrusion processes, rising automation in manufacturing, rising demand for consumer electronics, and a rise in demand for aerospace components.
The feed screw barrel market size is expected to see strong growth in the next few years. It will grow to $2.35 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The growth in the forecast period can be attributed to increasing demand for recycled materials growing need for customization, increasing demand for feed screw barrels in the food and beverage industry, and growing need for plastic products. Major trends in the forecast period include technological advancements, adoption of digital technologies, artificial intelligence, smart homes, and increasing partnerships.
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Market Drivers and Trends:
The growing plastic industry is expected to propel the growth of the feed screw barrel market going forward. The plastic industry encompasses producing, processing, and distributing plastic materials and products across diverse sectors and consumer applications. The growth of the plastic industry is due to the growing demand for plastic products across industries, driven by technological advancements and increasing consumer needs. Feed screw barrels are essential in the plastic industry, where they facilitate extrusion and injection molding by conveying, melting, mixing, and pressurizing plastic materials within a rotating screw and cylindrical barrel assembly. For instance, in 2024, according to the British Plastics Federation, the UK-based trade association, the United Kingdom's plastic products manufacturing industry grew from £20.19 billion ($26.25 billion) in 2020 to £22.01 billion ($28.61 billion) in 2021. Therefore, the growing plastic industry is driving the growth of the feed screw barrel market.
Major companies operating the feed screw barrels market are focusing on developing innovative technologies, such as extrusion solutions, to improve product quality and meet evolving industry demands. Extrusion solutions refer to technologies and processes used in the manufacturing industry, particularly in plastics and metals, where materials are forced through a die to create continuous profiles, shapes, or parts of uniform cross-sections. For instance, in June 2024, CPM Extricom Extrusion GmbH, a Germany-based manufacturer of twin-screw extrusion equipment, launched a twin-screw extruder system. These solutions integrate advanced features such as precision control systems, modular design flexibility for scalability, and high-efficiency processing capabilities. CPM's extrusion solutions are engineered to optimize production efficiency, enhance product quality, and adapt seamlessly to evolving industry needs.
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Major Key Players of the Market:
Spirex Corporation, Milacron LLC, Windsor FeedScrews Inc., Entek International, Battenfeld-Cincinnati, Xaloy Inc., Wenger Manufacturing Inc., Hi-Tech Industries, Dynisco, Euro Tech Machinery, Reiloy USA, Adg Soulations Inc., Wexco Industries, W-J Incorporated, TWS. ltd, Concor Tool and Machine Inc., Precision Feedscrews Inc, American Screw and Barrel Inc., Raj Engineering Works, Candian Feed Screws Mfg.Ltd., TIR Feed Screws and Barrels, Cpm Extricom Extrusion Gmbh, Flite Technology, United Feed Screws, Rauwendaal Extrusion Engineering Inc., BR Engineering Works
Feed Screw Barrel Market 2024 Key Insights:
• The feed screw barrel market size is expected to see strong growth in the next few years. It will grow to $2.35 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%.
• The Growth Of The Plastic Industry Drives The Feed Screw Barrel Market
• Innovative Extrusion Solutions Driving The Feed Screw Barrel Market
• Asia-Pacific was the largest region in the feed screw barrel market in 2023
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