“Global Plastic Extrusion Machines Market to reach a market value of USD 9.5 Billion by 2031 growing at a CAGR of 4.6%”
The Global Plastic Extrusion Machines Market size is expected to reach $9.5 billion by 2031, rising at a market growth of 4.6% CAGR during the forecast period.
The booming manufacturing sector in countries like China and India drives the demand for plastic products used in packaging, construction, and various other industries. Thus, the Asia Pacific region acquired 40% revenue share in the market 2023. This, in turn, fuels the need for extrusion machines. The region's focus on cost-effectiveness often makes plastic an attractive material choice compared to alternatives. This affordability factor translates to a high demand for plastic extrusion machinery.
The affordability of plastic as a material is a key factor driving the competitive pricing of plastic products. Raw plastic resins are generally less expensive than metals or wood. This translates directly into lower production costs for the final plastic good. Additionally, the extrusion process itself is quite efficient.
Additionally, the lightweight nature of plastic reduces transportation costs and simplifies handling and installation, making it an economically viable choice for large-scale construction projects. Therefore, the growth of the construction industry will aid in the market's growth.
However, the plastic extrusion industry is especially susceptible to volatile raw material prices, notably polymers and resins. Industry relies heavily on these materials, which form the basis of plastic products and can constitute a significant portion of production costs. Thus, the price volatility may deter the expansion of the market.
On the basis of machine type, the market is classified into single-screw and twin-screw. The single-screw segment recorded 46.1% revenue share in the market in 2023. Single-screw extruders are widely used in the industry due to their simplicity, lower cost, and ability to process a wide range of materials.
Based on solution, the market is segmented into new sales and aftermarket. The new sales segment procured 73.8% revenue share in the market in 2023. This is partially due to the ongoing demand for new plastic extrusion machines to satisfy the expanding requirements of various industries.
By process type, the market is divided into blown film extrusion, sheet/film extrusion, tubing extrusion, and others. The tubing extrusion segment garnered 26.9% revenue share in the market in 2023. Tubing extrusion is used to manufacture plastic tubes and pipes for plumbing, medical devices, and automotive components.
building & construction, and others. The building & construction segment garnered 33% revenue share in the market in 2023. Extrusion processes are employed to manufacture pipes, profiles, and insulation materials among the plastic products in high demand in the construction industry.
Free Valuable Insights: Global Plastic Extrusion Machines Market size to reach USD 9.5 Billion by 2031
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America segment witnessed 26.2% revenue share in the market in 2023. North American manufacturers are at the forefront of developing innovative extrusion technologies, leading to a demand for advanced machinery.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 6.7 Billion |
| Market size forecast in 2031 | USD 9.5 Billion |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 4.6% from 2024 to 2031 |
| Number of Pages | 249 |
| Number of Tables | 450 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Machine Type, Solution, Process Type, Application, Region |
| Country scope |
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| Companies Included | Sinochem Holdings Corporation Ltd. (SASAC), Bausano & Figli S.p.A., Costruzioni Meccaniche Luigi Bandera SpA, Kabra ExtrusionTechnik Ltd., Hillenbrand, Inc., Reifenhauser Group, Japan Steel Works, Ltd., Shibaura Machine Co. Ltd., UNION Officine Meccaniche s.p.a., and Windsor Machines Pvt. Ltd. |
By Machine Type
By Solution
By Process Type
By Application
By Geography
This Market size is expected to reach $9.5 billion by 2031.
Competitive pricing and cost advantages are driving the Market in coming years, however,Volatility in raw material prices restraints the growth of the Market.
Sinochem Holdings Corporation Ltd. (SASAC), Bausano & Figli S.p.A., Costruzioni Meccaniche Luigi Bandera SpA, Kabra ExtrusionTechnik Ltd., Hillenbrand, Inc., Reifenhauser Group, Japan Steel Works, Ltd., Shibaura Machine Co. Ltd., UNION Officine Meccaniche s.p.a., and Windsor Machines Pvt. Ltd.
The expected CAGR of this Market is 4.6% from 2023 to 2031.
The Twin-screw segment is leading the Market by Machine Type in 2023; thereby, achieving a market value of $5.1 billion by 2031.
The Asia Pacific region dominated the Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $3.9 billion by 2031.
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