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Extruders Market Insights, Competitive Analysis, Latest Trends, And Forecast To 2033
Extruders Market
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According to The Business Research Company's, The extruders market size has grown strongly in recent years. It will grow from $9.92 billion in 2023 to $10.43 billion in 2024 at a compound annual growth rate (CAGR) of 5.2%. The growth in the historic period can be attributed to plastic industry expansion, demand for food processing equipment, development in construction materials, increasing application in pharmaceuticals, growing awareness of recycling.
The extruders market size is expected to see strong growth in the next few years. It will grow to $12.85 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%. The growth in the forecast period can be attributed to sustainable and biodegradable materials, 3D printing filament production, demand for energy-efficient machinery, biomedical material processing, rapid prototyping in aerospace. Major trends in the forecast period include digitalization and industry 4.0, advancements in technology, rise in 3D printing extruders, increased adoption of twin-screw extruders, growing application in medical extrusion.
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Market Drivers and Trends:
The increase in the packaging industry is expected to propel the growth of the extruders market going forward. Packaging refers to the process of enclosing or protecting a product in a container in order to facilitate distribution, identification, storage, promotion, and usage. Extrusion is a commercially effective technique that is increasing in demand across the food sector, including food processing, digital food marketing, and food packaging. For instance, in October 2021, according to a report released by Invest India, an Indian-based national investment promotion and facilitation agency, the packaging sector in India is developing at a CAGR of 22% to 25%. Furthermore, according to the Flexible Packaging Association, a US-based association of manufacturers of flexible packaging; and material or equipment suppliers to the industry, 2021, the US Flexible Packaging market generated $39 billion in sales in 2021. Therefore, the increasing packaging industry is driving the demand for the extruders market.
Technological advancements are a key trend gaining popularity in the extruders market. Major players operating in the market are developing products with advanced technologies to sustain their position in the extruders market. For instance, in March 2021, GEA Group AG, a German-based food processing technology company, launched xTru Twin 140, which provides Powered screws provide consumers up to 40% more capacity while maintaining the same efficiency, quality, and footprint as previous iterations. Furthermore, this high-capacity technology may be applied to additional GEA xTru Twin extruder types adapted to existing machines to improve capacity without modifying the industrial design. The GEA xTru Twin extruders can manufacture a variety of goods, including cereal-based snack pellets that can be die-cut, 2D, 3D, multilayers, square form, punched, and direct expanded; morning cereals; dry pet food; and any other extruded food product.
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Major Key Players of the Market:
Hillenbrand Inc., Nordson Corporation, The Japan Steel Works Ltd., Kraussmaffei Group GmbH, Coperion GmbH, Shibaura Machine Co. Ltd., Davis-Standard LLC, Reifenhauser GmbH & Co. KG Maschinenfabrik, Clextral S.A.S., Colines S.p.A., Keicher Engineering GmbH, Amut S.p.A., Theysohn Extrusionstechnik GmbH, Macchi S.p.A., Gamma Meccanica S.p.A., Union Officine Meccaniche S.p.A., Battenfeld-Cincinnati Austria GmbH, NFM Welding Engineers Inc., Leistritz AG, BC Extrusion Holding GmbH, Presezzi Extrusion S.p.A., Nanjing USEON Extrusion Equipment Co. Ltd., ENTEK Manufacturing Inc., Kuhne GmbH, W&H-Lengerich Maschinenbau GmbH, Clex Extrusion Technik GmbH, Bandera Luigi Costruzioni Meccaniche S.p.A., Sikora AG, Alpha Marathon Technologies Inc., Welex a Davis-Standard Company, Tecnomatic S.p.A., Kabra Extrusion Technik Ltd.
Extruders Market 2024 Key Insights:
• The extruders market size is expected to see strong growth in the next few years. It will grow to $12.85 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%.
• Rising Packaging Demand Fuels Extruders Market Expansion
•
• Asia-Pacific was the largest region in the extruders market in 2023
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