Rising Demand in the Extruded Plastics Market: Insights and Analysis
The report "Extruded Plastics Market by Type (LDPE, HDPE, Polypropylene, Polystyrene, PVC), End User (Packaging, Building & Construction, Automotive, Consumer Goods, Electrical & Electronics), Region - Global Forecasts to 2026", The extruded plastics market is projected to grow from USD 184.34 Billion in 2016 to USD 291.74 Billion by 2026, at a CAGR of 4.7% from 2016 to 2026.
Browse 72 market data tables and 89 figures spread through 191 pages and in-depth TOC on “Extruded Plastics Market by Type (LDPE, HDPE, Polypropylene, Polystyrene, PVC), End User (Packaging, Building & Construction, Automotive, Consumer Goods, Electrical & Electronics), Region - Global Forecasts to 2026"
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Major growth drivers for the market include low feedstock and energy prices, and increasing demand for extruded plastics from the construction industry. In addition, rising demand from emerging countries in the Asia-Pacific region is expected to drive the extruded plastics market.
Based on type, the low density polyethylene segment is expected to lead the extruded plastics market during the forecast period
Based on type, the low density polyethylene segment dominated the extruded plastics market in 2015. This growth can be attributed to the rising demand for flexible plastics packaging in food & beverage products, as it is a food grade material. Low density polyethylene is among the most versatile flexible packaging materials that can be formulated for various packaging applications such as bags, pouches, and wraps. This thermoplastic polymer has low tensile strength with good chemical resistance to acids, bases, and alcohols, among others. Owing to its chemical characteristics, recyclability, and reusability, this thermoplastic polymer is steadily replacing traditional plastic packaging components, especially in flexible packaging products such as bags and food containers. Low density polyethylene is widely used in various applications in packaging, automotive, medical, agriculture, and other industries. Recyclability and reusability are the key characteristics of this thermoplastic polymer.
Extruded plastics are widely used in the packaging industry
Based on end user, the packaging segment dominated the extruded plastics market in 2015. This growth can be attributed to the rising demand for packaging products from the Asia-Pacific region, along with the global demand for packaging from the e-commerce industry, especially during transit of products. Extruded plastics in packaging are used in wraps, clamshells, containers, and bottles, among others. The demand from food & beverage and consumer goods industries is expected to fuel the demand for extruded plastics, as they are widely used for aesthetical and protective packaging.
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Asia-Pacific is the largest market for extruded plastics
The Asia-Pacific region was the largest market for extruded plastics in 2015 and is expected to continue its dominance in the coming years. This region is witnessing significant demand for extruded plastics from various end-use industries such as packaging, building & construction, and consumer goods. Continuous rise in industrial activities such as manufacturing and infrastructure, and economic development are fueling the growth of the extruded plastics market in the region. Furthermore, increasing demand for high-quality products, rising population, and growing end-use industries have led to the increased demand for extruded plastics in the region. Emerging countries of the Asia-Pacific region such as China and India have witnessed significant demand for plastic extrudates. Advent of domestic players for raw materials and extrudates is also expected to drive the extruded plastics market in the region.
Key players in the extruded plastics market are The DOW Chemical Company (U.S.), Sigma Plastics Group (U.S.), ExxonMobil Chemical Company (U.S.), Bemis Company Inc. (U.S.), SABIC (Saudi Arabia), Chevron Phillips Chemical Company LLC (U.S.), JM Eagle (U.S.), Berry Plastics Corporation (U.S.), Saint-Gobain S.A. (France), E.I. Dupont De Nemours and Company (U.S.), and Sealed Air Corporation (U.S.), among others.
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Substantial investments have been made towards expansions, agreements, and new product launches in the past few years by key companies such as The DOW Chemical Company (U.S.), Sigma Plastics Group (U.S.), SABIC (Saudi Arabia), and ExxonMobil Chemical Company (U.S.). Among these, The DOW Chemical Company (U.S.) has adopted most number of strategies to grow in the extruded plastics market. It has been focusing on new product launches and is expanding its business in newer geographies. The merger of the company with E. I. du Pont de Nemours and Company (U.S.) has helped it to enhance its product portfolio and gain technical expertise from the latter. Sigma Plastics Group (U.S.) and ExxonMobil Chemical Company (U.S.) have also outperformed other companies in the adoption of the number of developmental strategies. These companies are actively involved in mergers & acquisitions, expansions, and new product launches. In September 2016, Sigma Plastics Group collaborated with Alliance Barrier Films, LLC (U.S.) for specialty and high barrier blown film. This strategy has helped both the companies to collaborate their business to form ISOFlex Packaging Division.
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