Extruded Plastics Market to Witness Robust Growth, Thanks to the Increasing Use of the Chemical in Consumer Goods And Packaging Products

Extruded Plastics Market to Witness Robust Growth, Thanks to the Increasing Use of the Chemical in Consumer Goods And Packaging Products

“Extruded Plastics Market”
Global Extruded Plastics Market Information-by Type (Low Density Polyethylene, High Density Polyethylene, Styrene, and Others), by End-User (Packaging, Building & Constructions, Automotive, Consumer Goods, and Others) and by Region – Forecast till 2022

Extruded Plastics Market

Market Research Future (MRFR) recognizes the following companies as key players in the Global Extruded Plastics Market: AEP Industries Inc., Arkema S.A., Bemis Company, Inc., Berry Plastics Corporation, Chevron Phillips Chemical Company, The DOW Chemical Company, E. I. Du Pont De Nemours and Company, Engineered Profiles LLC, Sigma Plastics Group, and Saint-Gobain S.A.

Market Overview

Commenting on this report, an analyst from Market Research Future (MRFR)’s team said: The market for extruded plastics is growing rapidly due to its wide application in industries like electrical & electronic, automobile and consumer goods.  Drivers of this market are low feedstock and rise in energy price that tends to reduce the overall cost of extrudes. In-addition to this an innovation in extruded plastics utilized in medical and agriculture market will further fuel the growth of this market. The styrene segment is expected to grow at the CAGR during the forecast period. Low thermal conductivity and poor resistance to oxygen and moisture make this resin a suitable material to be used in food packaging products. In addition, styrene is an inexpensive thermoplastic resin used in appliances, toys, construction applications and others. Styrene finds applications in food and non-food packaging as well as in consumer products such as frames, cable ducts, tubes and others.

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Extrusion Elastics Market Analysis

The most important market for extrusion plastics is the packaging industry. The packaging segment includes mainly includes films, bags & sacks, shrink and stretch films. The  packaging  segment films includes the majority of films used for foodstuffs, but also films for non-food applications such as packaging for cosmetics, hygiene products, textiles, stationary, and among many others. The market for packaging films profits especially from a persistent trend towards flexible packaging solutions in many segments. In-addition to a reduction of weight and resource consumption. A trend towards smaller package sizes and a growing market for flexible packaging in the sectors hygiene and pharmaceuticals will nonetheless result in growth in the upcoming years as well.

 Regional Analysis

The market is classified and analyzed on the basis of geographical segmentation which includes Americas, Europe, Asia-Pacific, Middle East and Africa. Out of these, Asia-Pacific accounts for the largest share in the extruded plastics market and uses high energy due to industries like electrical & electronics, construction, chemicals and automobile. North America is expected to drive the market growth of extruded plastics due to consumption of the same in the automobile sector of this country. In North America U.S. has the largest market of extruded plastics; on the other hand, the growth of this market is slow in Europe due to economic downturn in its southern parts.

 Competitive Landscape

 Key Players

  • AEP Industries Inc.
  • Arkema S.A.
  • Bemis Company Inc.
  • Berry Plastics Corporation
  • Chevron Phillips Chemical Company
  • The DOW Chemical Company
  • E. I. Du Pont De Nemours and Company
  • Engineered Profiles LLC
  • Sigma Plastics Group
  • and Saint-Gobain S.A.

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 Market Segmentation

 Based on type the market is segmented into low density polyethylene, high density polyethylene, styrene, and others. Low density polyethylene is expected grow at the largest CAGR during the forecasted period. Low density polyethylene is highly utilized in automotive and construction industry. In-addition Styrene is expected to grow at the CAGR during the forecasted period.

 Based on end-user the market is segmented into packaging, building & constructions, automotive, consumer goods, and others. Packaging segment dominated the market in 2015 and is expected to continue its dominance in the coming years. Building & constructions and consumer goods segment is expected to grow in tremendously as in developing countries there is increase in disposable income and extruded plastics are utilized in electronic gadgets.

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