Argentina Extruded Plastic Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Type (Polypropylene (PP), Polyethylene (PE), Polyethylene (PE), LDPE, HDPE, Polyvinyl Chloride (PVC), Others), By End-User Industry (Construction, Electrical And Electronics, Packaging, Automotive, Others), And By Geography - Forecasts From 2022 To 2027

The Argentina extruded plastic market is projected to grow at a CAGR of 3.93% to attain a market size of US$206.430 million by 2027, from US$233.891 million in 2020.

The major factors driving the market growth are growth in construction and building activities in the country. Extruded plastic is used in residential buildings in the form of rigid foam for the insulation of walls, ceilings, floors, roofs and balconies due to its properties such as high compressive strength and moisture resistance. The market is segmented into- By Type, By End-User Industry.

Argentina Extruded Plastic Market Drivers:

• High demand from the Residential Segment

Extruded plastic is widely used in residential buildings in the form of insulators.  It also helps in reducing energy consumption and has the ability to reduce greenhouse gas emissions like co2 and methane. The construction industry in Argentina is expected to grow during the forecast period owing to the initiatives taken by the government to improve the tourism sector infrastructure in the country, which is anticipated to drive the overall market growth during the forecast period. Furthermore, housing is the most common type of construction project in Argentina, on the basis of which it is analysed that residential construction is the fastest growing sector in the country and acts as a major growth driver for the overall market’s growth. Because of all the above-mentioned factors, the demand for extruded plastic has increased across the building and construction sectors of the country.

Argentina Extruded Plastic Market: By Industry Vertical

• Electrical and Electronics

Factors attributing to the growth of the market across the country is the rising demand for consumer electronics across the country. Rapidly growing urbanization and high disposable income have increased the demand for advanced consumer electronic devices, which is expected to drive the overall market growth during the forecast period. The appliances and electronics industry across the country is evolving and modernizing to meet the growing global and local market demands. Moreover, the rising demand for advanced electronic devices across the country is anticipated to have a positive impact on the overall market growth. The government of Argentina is planning to carry out a $1.1bn transmission project for Buenos Aires which includes 500km (310.7mi) of extra-high and high voltage lines. For this project, the government is taking help from China in order to fortify its electricity system.

COVID-19 Insights

The COVID-19 pandemic has negatively affected the overall market growth due to the stoppage of many projects because of lack of investments and funds, labour shortage and lockdown restrictions. However, the market is forecasted to grow in the coming years due to the growth in construction industry which will increase the demand for extruded plastic in the building and the construction industry, of the country.

Segmentation

The market has been analysed through the following segments:

• By Type
  • Polypropylene
  • Polyethylene (PE)
  • LDPE
  • HDPE
  • Polyvinyl Chloride (PVC)
  • Others
• By End-User Industry
  • Construction
  • Electrical and Electronics
  • Packaging
  • Automotive
  • Others