Extruded Plastics Market is Growing Rapidly to Reach Market Value of USD 280 Billion by 2022

Market Highlights

The global extruded plastics market has been evaluated to be rapidly growing and is expected to grow tremendously. Benefits like low thermal conductivity and poor resistance to oxygen and moisture make this resin a suitable material to be used in packaging of food products which has increased its market globally. With numerous usage of extruded plastics, the global extruded plastics market is expected to increase in future. Moreover, increasing demand in construction industry owing to the rising surge for plastics is another factor that drives the global extruded plastics market growth over the forecasted period 2022.

The Global Extruded Plastics Market is expected to grow at USD 280 billion in 2022 with the CAGR of 4.9% from 2016 to 2022.

Global Extruded Plastics Market Players:

The major participants of this market are: Desku Group Inc, Halliburton Company, Excalibar Minerals LLC, P & S Extruded Plastics Mining Co. Ltd, Ashapura Minechem Ltd, Anglo Pacific Minerals, CIMBAR Performance Minerals, Kaomin Industries, Andhra Pradesh Mineral Development Corporation Limited, Mil-Spec Industries Corporation and others.

Companies such as AEP Industries Inc., Arkema S.A., Bemis Company, Inc., Berry Plastics Corporation and Chevron Phillips Chemical Company have implemented acquisition and expansion of business strategies to increase their geographical presence. Few global players have invested in R&D amenities to discover advanced and innovative folic products which has higher efficacy and is easy to use.

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Market Application:

Based on Type global extruded plastics market has been segmented into low density polyethylene, high density polyethylene, styrene, and others. Styrene is expected to grow at the CAGR during the forecasted period. Low density polyethylene segment dominated the market in 2015 as it one of the most versatile flexible packing materials that can be formulated for several packaging applications.

Based on End-User Industries which are boosting the growth of extruded plastics market has been segmented into packaging, building & constructions, automotive, consumer goods, and others. Building & constructions segment is expected to grow at highest rate during the forecasted period. The packaging industry is expected to grow maximum at the CAGR in future. The rise in demand for extruded plastics is due to technological advancement in electronics goods.

Segmentation:

The global extruded plastics market is majorly segmented on the basis of type and by end-user. Based on type the market is segmented into low density polyethylene, high density polyethylene, styrene, and others. Further on the basis of end-user the market is classified into packaging, building & constructions, automotive, consumer goods, and others.

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Regional Analysis:

Asia Pacific region is expected to maintain its dominance in the global market of extruded plastic. Emerging markets of China, Japan and India are expected to boost the Asia Pacific folic acid market. Other emerging markets are North America, Europe and Middle East countries. Asia Pacific has the largest market share of global folic acid, followed by Europe and other parts of the world.

The largest market of extruded plastics is in Asia-Pacific owing to the growth of electrical, construction and automobile industry. Rapid industrialization in countries like China, India and Mexico contribute further in the growth of this market. Moreover, low thermal conductivity and poor resistance to oxygen and moisture make this resin a suitable material to be used in food packaging products particularly in China, India and japan which will further drive this market in the coming years. Robust growth of plastic and automotive industries in Asia-Pacific is expected to be largest consumer of extruded plastics market. It is seen that North America is the second largest consumer of extruded plastics due to the changing trends in the automobile industry there.

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This release was published on openPR.