May 16, 2024 06:55 ET | Source: Allied Analytics LLP Allied Analytics LLP
Wilmington,Delaware, May 16, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “Plastic Extrusion Machines Market by Machine Type (Single Screw and Twin Screw), Process Type (Blow Film Extrusion, Sheet/Film Extrusion, Tubing Extrusion, and Others), Solution (New Sales and Aftermarket), and Application (Building and Construction, Medical, Transportation, Consumer Goods, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2032,”. According to the report, the global plastic extrusion machines market was valued at $6,315.1 million in 2019 and is projected to reach $11,002.1 million by 2032, registering a CAGR of 4.8% from 2019 to 2032. Pellet Extruder Screw
The global plastic extrusion machine market is experiencing growth due to several key features of these machines, including their robustness, ease of operation, high manufacturing rates, rapid production, and ability to produce high-quality products. This growth is further fueled by the exponential rise in the packaging industry, particularly in economies such as China and India. The demand for high-performance extruded plastic packaging films is driving the growth of the plastic extrusion machinery industry. Additionally, these machines are capable of efficiently packaging brittle and complex components such as consumer goods, electronics, and automotive parts with high accuracy. As a result, the adoption of these products is expected to contribute to the overall development of the industry. However, the high initial cost of the equipment may hinder its growth. On the other hand, technological advancements in plastic extrusion machines are anticipated to create lucrative opportunities for the global plastic extrusion machine market.
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The twin screw segment maintains its leadership status throughout the forecast period.
By machine type, the twin screw segment held the highest market share in 2019, accounting for more than half of the plastic extrusion machine market revenue and is estimated to maintain its leadership status throughout the forecast period. To expand a twin-screw extruder setup, a comprehensive strategy is required to meet increased capacity or new processing needs. Start by evaluating the desired capacity boost and material compatibility to identify necessary upgrades in size, screw design, and power. Fine-tune the extrusion process by adjusting parameters such as screw profiles and barrel temperatures. Assess the requirement for extra auxiliary equipment and ensure that space and infrastructure are prepared. Enhancing automation and control systems improves efficiency and safety, while compliance with regulations and standards is crucial.
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The blow film extrusion segment maintains its leadership status throughout the forecast period.
By process type, the blow film extrusion segment held the highest market share in 2019, accounting for more than one-third of the plastic extrusion machine market revenue and is estimated to maintain its leadership status throughout the forecast period. The growth of the blown film plastic extrusion machine market is directly linked to the rising adoption of packaging films in the food and beverages industry. These machines can cater to both barrier and non-barrier packaging needs. Moreover, they can process a wide range of polymers such as LDPE, HDPE, and LLDPE, which further drives the market growth. Additionally, these machines are highly efficient compared to other alternatives, which is expected to contribute to the market's expansion.
The new sales segment maintains its leadership status throughout the forecast period.
By solution, the new sales segment held the highest market share in 2019, accounting for nearly three-fourths of the plastic extrusion machine market revenue and is estimated to maintain its leadership status throughout the forecast period. The increasing need for plastic goods in various sectors including packaging, construction, automotive, and consumer goods guarantees a steady market for extrusion machinery. At the same time, continuous technological advancements in extrusion equipment, such as enhanced energy efficiency, automation, and process control, empower manufacturers to provide innovative solutions that cater to changing customer demands. Developing economies with expanding manufacturing industries offer substantial growth potential as they require modernized production facilities and infrastructure development, thereby boosting the demand for extrusion equipment. Moreover, the necessity to replace outdated machinery or upgrade existing equipment to improve productivity, efficiency, and product quality creates additional avenues for sales.
The building and construction segment is expected to maintain its leadership status throughout the forecast period.
By application, the building and construction segment held the highest market share in 2019, accounting for around one-third of the plastic extrusion machine market revenue, and is estimated to maintain its leadership status throughout the forecast period. As industries continue to seek specialized plastic products with unique characteristics, manufacturers are being prompted to provide customized extrusion solutions for specific applications such as medical devices, aerospace components, and sustainable materials. Moreover, the growing focus on sustainability and recycling is increasing the demand for extrusion equipment that can process recycled materials or create eco-friendly products. Changes in global supply chains and strategic industry partnerships can also create new opportunities for market expansion. The need to comply with evolving regulations regarding product quality, safety, and environmental sustainability is driving the adoption of advanced extrusion technologies and equipment. By seizing these opportunities, manufacturers can position themselves for growth and success in the competitive plastic extrusion machine market.
Asia-Pacific to maintain its dominance by 2032
By region, the Asia-Pacific held the highest market share in terms of revenue in 2019 and is expected to dominate the market during the forecast period. The significant market dominance can be credited to various factors, including the high number of extruder manufacturers in China, the cost-effective labor force in the country, and the rise in demand for plastics within China. Additionally, Chinese manufacturers demonstrate impressive adaptability in adopting new technologies, allowing them to stay competitive. Moreover, the increasing popularity of packaged food in developing nations including China and Southeast Asian countries significantly propels the growth of the plastic extrusion machine market in the Asia-Pacific region.
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The report analyzes government regulations, policies, and patents to provide information on the current market trends and suggests future growth opportunities. Furthermore, the study highlights Porter’s five forces analysis to determine the factors affecting market growth.
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