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Extrusion Machinery Market Report 2024 - Extrusion Machinery Market Size, Growth, And Forecast
Extrusion Machinery Market
According to The Business Research Company's, The extrusion machinery market size has grown steadily in recent years. It will grow from $7.6 billion in 2023 to $7.96 billion in 2024 at a compound annual growth rate (CAGR) of 4.7%. The growth in the historic period can be attributed to industrialization and manufacturing growth, rise in construction activities, market demand, competitive landscape, raw material prices.
The extrusion machinery market size is expected to see steady growth in the next few years. It will grow to $9.64 billion in 2028 at a compound annual growth rate (CAGR) of 4.9%. The growth in the forecast period can be attributed to sustainability initiatives, rising market demand, global trade dynamics, customization requirements, energy efficiency. Major trends in the forecast period include market expansion, customization and flexibility, energy efficiency and sustainability, market consolidation and competition, technological advancements.
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Market Drivers and Trends:
The growing demand for plastic products is expected to boost the growth of the extrusion machinery market going forward. Plastic products refer to synthetically produced compounds that are made from polymers. Plastic extrusion machines are used to shape plastic into the variety of shapes, sizes, and structures needed to produce a wide range of items. Hence, the growing demand for plastic products will result in demand for extrusion machinery. For instance, according to the United Nations Environment Programme, a US-based authority for the environment with programs focusing on climate, nature, pollution, sustainable development, and more, the global primary plastic output is expected to increase to 1,100 million tons by 2050 from the current 400 million tons per year. And a whopping 36% of all plastics made are used in packaging, including single-use items for food and drink containers that are disposed of in landfills or as uncontrolled trash in a whopping 85% of cases. Therefore, the growing demand for plastic products is driving the growth of the extrusion machinery market.
Product innovation is the key trend gaining popularity in the extrusion machinery market. Major companies operating in the extrusion machinery market are focusing on developing innovative products to strengthen their market position. For instance, in September 2021, Uniloy Inc., a US-based blow molding machine and mold technology company, launched the all-electric Uniloy UCS.E continuous extrusion shuttle machine. The unique feature of UCS.E is its focus on producing bottles, containers, and technological components in sizes ranging from 50 ml to 30 l. Its processing capabilities allow users to create anything from small cosmetic containers to huge industrial packaging, and it has co-extrusion capabilities of up to 7 layers, including bio-resins and post-consumer resins (PCR). The UCS.E consumes 40% less energy than a conventional hydraulic shuttle machine due to Uniloy's all-electric platform.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
KraussMaffei Technologies GmbH; AMUT S.P.A.; Hegler Plastik GmbH; Bausano & Figli S.p.A.; Windsor Machines Pvt. Ltd.; Milacron LLC; Extrusion Technik USA Inc.; Yean Horng Machinery Co. Ltd.; Everplast Machinery Co. Ltd.; Graham Engineering Corporation; Reifenhauser Inc.; Kabra ExtrusionTechnik Ltd.; ITIB MACHINERY INTERNATIONAL s.r.l.; UNION Officine Meccaniche S.p.A.; BC Extrusion Holding GmbH; The Japan Steel Works Ltd.; Welding Engineers Inc.; Davis-Standard LLC; Coperion GmbH; Leistritz AG; SMS group GmbH; Toshiba Machine Co. Ltd.; Gneuss Kunststofftechnik GmbH; Macro Engineering & Technology Inc.; Nanjing Haisi Extrusion Equipment Co. Ltd.; USEON (Nanjing) Extrusion Machinery Co. Ltd.; CPM Extrusion Group; Bandera Luigi Costruzioni Meccaniche S.p.A.; BREYER Maschinenfabrik GmbH; Plasmec S.p.A.; SML Maschinengesellschaft mbH; Sino-Alloy Machinery Inc.; R&B Plastics Machinery LLC; Sarei Machinery & Mould Co. Ltd.
Extrusion Machinery Market 2024 Key Insights:
• The extrusion machinery market will grow to $9.64 billion in 2028 at a compound annual growth rate (CAGR) of 4.9%.
• Increasing Demand For Plastic Products Drives The Extrusion Machinery Market
• Innovative Sustainability In Extrusion Machinery
• North America was the largest region in the extrusion machinery market in 2023
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Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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