Published on : Feb 12, 2018
Albany, New York, February 12, 2018: Over the years, extruded plastics have found applications in various industries due to its availability in almost all forms ranging from pipes & tubes to films & sheets. According to a recent study, the extruded plastics market is expected to grow in the coming years due to increasing demand from applications such as packaging, building & construction. Market Research Hub (MRH) has broadcasted a study titled “Extruded Plastics Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025” to its mega-repository, which is a valuable source of information and guidance for stakeholders looking to understand the dynamics of this market.
This 395-page descriptive study provides the estimated market size of extruded plastics for 2016 and forecast for the next eight years. The global market size of extruded plastics has been provided in terms of revenue and volume. According to the report findings, the global extruded plastic market is likely to register a value of US$271,797.3 mn by the end of 2025, compared to US$162,240.3 mn in 2016. At this pace, the global extruded plastic market will exhibit a CAGR of 6.0% between 2017 and 2025.
Factors Fueling Global Market for Extruded Plastics
- Rapid development in the plastic industry has made plastics capable of withstanding high pressure, and temperature situations, which makes it a material of choice for a variety of industrial applications. Extrusion is a technology used for converting plastic materials to manufacture pipes, films, tubes, sheets, and various other products for industrial applications.
- Regionally, Asia Pacific held the dominant share of the global extruded plastics market in 2016.The rising use of plastic containers and products will push the market’s growth in the Asia Pacific.
- To offer readers concrete information, the report offers segment-wise analysis. The segment-wise analysis helps readers in identifying the strong and weak areas of a market. The market has been segmented on the basis of type, form, and applications. These segments have been analyzed based on present and future trends. By types, the extruded plastics can be classified into LDPE, HDPE, polypropylene, polystyrene and PVC. Of these, LDPE is a prime material of choice for packaging manufacturers due to its non-toxic, break resistance properties.
- Packaging and automotive are key end users of extruded plastics. Therefore, growth viewed in these industries is certain to tip scales in support of the global extruded plastics market. Presently, the rise in preference of people for ready-to-eat food is anticipated to fuel the packaging industry. This, in turn, is anticipated to boost the extruded plastics market.
- A significant number of market players are making investments directed at expanding their businesses and production volumes. This report also profiles key players operating in the global extruded plastics market, which are Sigma Plastics Group, Formosa Plastics Corporation, Sealed Air Corporation, Saudi Basic Industries Corp., and Berry Global Inc.
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