September 15, 2023 08:50 ET | Source: DataHorizzon Research DataHorizzon Research
Fort Collins, Colorado, Sept. 15, 2023 (GLOBE NEWSWIRE) -- DataHorizzon Research Published a report titled, "Extrusion Press Machine Market Size, Trends, Growth, Share, Statistics Analysis Report, By Material (Plastic And Metal), By Machinery (Single Screw And Twin screw), By Operating System (Hydraulic, Mechanical And Electrical), By Application, By Region And Segment Forecasts, 2023-2032.” Reducer Gearbox
According to DataHorizzon Research, The extrusion press machine market size was valued at USD 9.2 Billion in 2022 and is expected to have USD 14.2 Billion by 2032 with a CAGR of 4.6%. The surge in demand for plastic extruded parts across various verticals such as packaging, consumer goods, automotive, and construction is majorly promoting market growth. In the packaging industry, plastic such as Polyethylene terephthalate (PET), Polypropylene (PP), and Polyvinyl Chloride (PVC) are used due to their benefits, such as design flexibility, and lower production costs.
The increasing focus on improving process efficiency in the extrusion and the growing trend of sustainability and circular economy are leading to various technological advancements in the extrusion process and opening various growth avenues for the major market players. Various novel technologies such as hot melt extrusion, supercritical fluid assisted extrusion, and 3D printing extrusion are being developed, which have applications across different verticals such as pharmaceutical, and food industries, leading to demand for these specialized extrusion machines.
Supercritical fluid-assisted extrusion (SCFX) finds application in the production of different types of food products such as ready-to-eat cereals, pasta, and confectionery. This process has an advantage over the conventional extrusion process as it overcomes certain limitations and complexities involved in the traditional process. The hot melt extrusion process is being used in the pharmaceutical industry to mix drug molecules with bioactive polymers. This process is majorly utilized in situations where drug ingredients are not properly soluble or unstable during the processing.
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The extrusion press machine market has been segmented into material, machinery, operating system, application, and region. Based on the material, the plastic segment represented a large market share due to the growing demand for plastic extruded parts in the automotive sector in EVs, electronics, and other verticals.
Based on machinery, the twin screw segment is anticipated to exhibit substantial growth during the forecast period. Based on end-use, the construction segment accounted for a major share in the extrusion press machine market owing to the increased demand for extruded aluminum as well as plastic parts for windows, pipes, and other applications with rising construction activities.
Geographically, Asia Pacific held a significant share of the extrusion press machine market. China is the major market in this region owing to several factors, such as the rising number of construction activities, the high adoption of electric vehicles, and the growing demand for consumer goods. Europe is expected to register significant growth owing to the presence of prominent players in the automotive sector in this region.
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Key Developments in the Industry:
Extrusion Press Machine Market Report Highlights:
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Extrusion Press Machine Market Report Segmentation:
Extrusion Press Machine Market, By Material (2023-2032)
Extrusion Press Machine Market, By Machinery (2023-2032)
Extrusion Press Machine Market, By Operating System (2023-2032)
Extrusion Press Machine Market, By Application (2023-2032)
Extrusion Press Machine Market, By Region (2023-2032)
DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.
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