Global Extruded Plastic Market Size, Share, Opportunities, And Trends By Type (Polypropylene (PP), Polyethylene (PE), LDPE, HDPE, Polyvinyl Chloride (PVC), Others), By End-User Industry (Construction, Electrical And Electronics, Packaging, Automotive, Medical, Others), And By Geography - Forecasts From 2023 To 2028

  • Published : Jul 2024
  • Report Code : KSI061612235
  • Pages : 111

The global extruded plastics market is estimated to grow at a CAGR of 6.17% to reach US$310.368 billion by 2028 from US$204.089 billion in 2021.

Extruded plastic is manufactured from the melting and forming of high-volume polymeric material. The extruded plastic takes shape according to the cross-section of the die. The increasing use of extruded plastic in the construction of pipes, windows, doors, and other materials is increasing the market demand for extruded plastic. Furthermore, the demand for packaging of food and beverages is increasing, the increasing disposable income, changing lifestyle, and growing working class population tend to have an increased demand for packaged food in the projected period. Various such factors are fueling market growth.

Global Extruded Plastics Market Drivers:

  • Growing use in packaging application

Packaging is one of the major end-users of extruded plastic, and with the bolstering growth in such end-users, the demand for extruded plastic is also projected to increase. For instance, according to the Packaging Industry Association of India, the packaging sector is among the country's high-growth industries. It is developing at 22-25% per annum, and the country will become the hub for the packaging industry in the coming years.

Additionally, according to the Ministry of Statistics and Program Implementation (MoSPI), the employment rate is increasing in India, indicating the sector's growth in the country. For instance, in 2019-2020, 11.6% of people were employed in construction, which increased to 12.1% in 2020-21 and now to 12.4% in 2021-22.

  • Booming construction sector.

Extruded plastic finds applicability in the construction sector for protecting electric cables and wires from external factors. With the growing population and infrastructure projects, the construction sector is witnessing positive growth in various regions. For instance, according to the European Commission, the construction sector employs 18% of the population and contributes 9% to the GDP of the region. Hence, the two main areas where extruded plastic is highly used are growing at a significant pace and are anticipated to increase the demand for extruded plastic as well.

  • Growing E-Commerce application.

Due to its flexibility and durability nature, extruded plastic is majorly used in the e-commerce sector for packaging various consumer goods, thereby keeping their quality intact. With the growing digitization and urbanization, internet penetration has increased e-commerce activities. According to the United States Census Bureau, the e-commerce market is flourishing in the United States. The highest revenue from e-commerce was registered in the fourth quarter of 2022, which was US$3,03,120 million, and in the second quarter, the total retail sales from the e-commerce segment was US$ 2,69,517 million. Hence, the increasing demand for plastic packaging products and the growing use of online platforms are major reasons for the market growth of extruded plastic in the forecasted period.

Global Extruded Plastics Market Geographical Outlook

  • During the forecast period, China is projected to show significant growth.

The country's developing e-commerce sector and shifting customer preferences for online purchasing are the main drivers of the market's growth. Furthermore, polypropylene is China's most extensively utilized extruded plastic due to its widespread application in the FMCG packaging industry for a wide range of product packaging.

Further, the nation's growing e-commerce industry and shifting customer preferences for online shopping are predicted to fuel the plastic packaging sector, which will expand the extruded plastic market. China's burgeoning e-commerce industry has compelled numerous packaging businesses to create more environmentally friendly packaging options, such as using recycled plastics. For instance, as per the International Trade Administration, over 710 million digital purchasers made up China's online retail transaction base, with $2.297 trillion in sales in 2020 and projections of $3.565 trillion by 2024.

High disposable income has also raised demand for frozen or imported food items, which require appropriate packaging and are expected to propel market expansion. For instance, in May 2023, Sulzer and Jindan New Biomaterials (Jindan), a significant manufacturer of lactic acid (LA), announced a deal to facilitate the production of polylactic acid (PLA), a biobased plastic. At its new manufacturing facility in Henan Province, Jindan will make up to 75,000 tonnes of PLA annually, mostly for use in food packaging, molded goods, and the creation of fibers. The company will do this by utilizing Sulzer's licensed PLA technology. To guarantee a smooth launch, Sulzer will also offer comprehensive service support.

Global Extruded Plastics Market Development:

 

  • In October 2022, Delta Electronics launched Compact Modular mid-range PLC, AS 300 series, to connect OT and IT layers. In addition to the built-in Ethernet upload of the equipment information, port 2 S485 can facilitate the auxiliary information to different workstations and distribute it into two communication field buses.

Segmentation:

  • By Type
    • Polypropylene (PP)
    • Polyethylene (PE)
      • LDPE
      • HDPE
    • Polyvinyl Chloride (PVC)
    • Others
  • By End-User Industry
    • Construction
    • Electrical and Electronics
    • Packaging
    • Automotive
    • Medical
    • Others
  • By Geography
    • North America
      • USA
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • Germany
      • United Kingdom
      • France
      • Spain
      • Others
    • Middle East and Africa
      • Saudi Arabia
      • Israel
      • Others
    • Asia Pacific
      • China
      • Japan
      • India
      • South Korea
      • Thailand
      • Indonesia
      • Taiwan
      • Others
 

Frequently Asked Questions (FAQs)

The global extruded plastics market is estimated to reach a total market size of US$310.368 billion in 2028.
The extruded plastics market is estimated to grow at a CAGR of 6.17% during the forecast period.
Extruded Plastic Market was valued at US$204.089 billion in 2021.
Asia Pacific holds a significant share of the extruded plastics market.
The increasing use of extruded plastic in the construction of pipes, windows, doors, and other materials is increasing the market demand for extruded plastic.

1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base, and Forecast Years Timeline

2. RESEARCH METHODOLOGY  

2.1. Research Data

2.2. Research Process

3. EXECUTIVE SUMMARY

3.1. Research Highlights

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Porter’s Five Forces Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

5. GLOBAL EXTRUDED PLASTIC MARKET, BY TYPE

5.1. Introduction

5.2. Polypropylene (PP)

5.3. Polyethylene (PE)

5.3.1. LDPE

5.3.2. HDPE

5.4. Polyvinyl Chloride (PVC)

5.5. Others

6. GLOBAL EXTRUDED PLASTIC MARKET, BY END-USER INDUSTRY

6.1. Introduction

6.2. Construction

6.3. Electrical and Electronics

6.4. Packaging

6.5. Automotive

6.6. Medical

6.7. Others

7. GLOBAL EXTRUDED PLASTIC MARKET, BY GEOGRAPHY

7.1. Introduction

7.2. North America

7.2.1. USA

7.2.2. Canada

7.2.3. Mexico

7.3. South America

7.3.1. Brazil

7.3.2. Argentina

7.3.3. Others

7.4. Europe

7.4.1. Germany

7.4.2. United Kingdom

7.4.3. France

7.4.4. Spain

7.4.5. Others

7.5. Middle East and Africa

7.5.1. Saudi Arabia

7.5.2. Israel

7.5.3. Others

7.6. Asia Pacific

7.6.1. China

7.6.2. Japan

7.6.3. India

7.6.4. South Korea

7.6.5. Thailand

7.6.6. Indonesia

7.6.7. Taiwan

7.6.8. Others

8. COMPETITIVE ENVIRONMENT AND ANALYSIS

8.1. Major Players and Strategy Analysis

8.2. Market Share Analysis

8.3. Mergers, Acquisitions, Agreements, and Collaborations

9. COMPANY PROFILES

9.1. Eaton

9.2. DS Smith

9.3. SFR Industries

9.4. DowDuPont

9.5. PBS Plastics

9.6. Condale Plastic Ltd.

9.7. Blackwell Plastics

9.8. Chevron Phillips Chemical Company 

9.9. TekniPlex

9.10. SABIC


Eaton Corporation

DS Smith

SFR Industries

DowDuPont

PBS Plastics

Condale Plastic Ltd.

Blackwell Plastics

Chevron Phillips Chemical Company

TekniPlex

SABIC