Extruded Plastics Market Rising Growth Business Analysis and Forecast Study 2028
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Jun 18, 2020 (Market Insight Reports) -- Global Extruded Plastics Market is expected to reach USD 328.70 billion by 2028, growing at a CAGR of 3.6% during the forecast period.
The growing demand for extrudates from the construction industry is expected to propel the extruded plastics market during the forecast period.
The market for extruded plastics has been segmented in major regions to understand the global development and demand patterns of this market. Asia-Pacific emerged in 2018 as the fastest-growing region in the backdrop of high demand for extruded plastics from significant end-use sectors such as automobiles, building & construction, packaging, consumer goods. Rapid industrialization and urbanization combined with economic growth in this region have led to the growth of these end-use sectors, which are expected to spur the demand for extruded plastics in the coming years.
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This comprehensive market analysis explores market growth potential for extruded plastics market that can help stakeholders understand key developments and expectations in the market for extruded plastics market defining opportunities for growth and competitive scenarios. The study also draws on data from multiple primary and secondary sources and will be analyzed using different methods. It helps gain insight into the growth potential of the market which can enable investors to recognize scope and opportunities. The analysis also gives details of the individual segments in the global extruded plastics market.
What are Extruded Plastics?
Extruded plastics are plastics of various shapes and sizes obtained through the process of extrusion in which they are forcibly squeezed through an instrument that imparts shape and shape to them. Extrusion is a method of high volume manufacturing. With heat application, the plastic material is melted and extruded into the desired shape by die. Depending on the cross-section of the die, the extruded material takes shape.
Key Factors Impacting Growth of Extruded Plastics Market:
Owing to its increased demand for flexible food products as a food-grade material, the low-density polyethylene segment dominated the extruded packaging market in 2018 based on type. Based on the end-user industry, the packaging segment dominated the extruded plastics industry in 2018, owing to increased demand for packaging from food & beverage and consumer goods, especially during logistics for storing and protecting products. Cost efficiency is driving demand for extruded plastics with complex products and outstanding mechanical properties.
The researchers have studied the market in-depth and have developed important segments such as product type, application, and region. Each and every segment and its sub-segments are analyzed based on their market share, growth prospects, and CAGR. Each market segment offers in-depth, both qualitative and quantitative information on market outlook.
With an emphasis on strategies there have been several primary developments done by major companies such as the DOW Chemical Company, Sigma Plastics Group, ExxonMobil Chemical Company, Bemis Company Inc., SABIC, Chevron Phillips Chemical Company LLC, JM Eagle, Berry Plastics Corporation, Saint-Gobain S.A., E.I. Dupont De Nemours and Company, and Sealed Air Corporation.
Market Segmentation:
By Type:
By End-Use Industry:
By Region:
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