extrusion machinery market Overview
The global extrusion machinery market is expanding due to increasing demand across various industries, including packaging, automotive, construction, and consumer goods. Advancements in technology, such as automation and energy-efficient systems, are key drivers of market growth. Manufacturers are focusing on developing high-performance machines that can process a wide range of materials, including recycled plastics and bioplastics. The market is also influenced by environmental regulations and the shift towards sustainable manufacturing practices. Regional markets, such as Europe, Asia-Pacific, and North America, show significant growth potential, driven by industrialization, urbanization, and rising consumer demand for plastic products. Continuous innovation and investment in R&D are essential for maintaining competitiveness in this dynamic market.
As per an Extensive Research Report by Market Research Future (MRFR),The extrusion machinery market industry is projected to grow from USD 6.8 Billion in 2023 to USD 10.08 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.00% during the forecast period (2024 - 2032).
To mass produce continuous profile extruded plastic products, mechanical equipment called as plastic extrusion machines are developed. Market participants provide plastic extrusion machines in a variety of sizes, designs, and configurations to satisfy customer needs.
extrusion machinery market Competitive Landscape:
- Bausano & Figli SpA
- Costruzioni Meccaniche Luigi Bandera SpA
- Kabra ExtrusionTechnik Ltd.
- KraussMaffei Group
- Milacron Holdings Corp.
- The Japan Steel Works
- Toshiba Machine Co. Ltd.
- UNION Officine Meccaniche SpA
- Windsor Machines Limited
Market Drivers:
The demand for plastic products is on the rise, and there have been large expenditures made in the building industry over the projection period. Plastic extrusion machines have become more and more common in recent years across a wide range of industries due to their efficiency, user-friendliness, increased flexibility, and higher output quality. It is anticipated that demand for plastic extrusion equipment will increase globally as energy efficiency gains popularity.
The market for plastic extrusion machines is expanding in tandem with the advancement of energy conservation consciousness on a global scale. Manufacturers of twin-screw plastic extrusion machines are putting more emphasis on producing dependable and effective machinery to support market expansion. For example, the Japan Steel Works (JSW) TEX series of twin-screw extruders offer remarkable degassing and kneading performance for direct film/sheet processing.
Appliances have tended to use plastics the most over the previous few years. Domestic appliance demand will increase during the anticipated time frame as a result of expanding metropolitan areas, an increase in immigration, and ongoing fast-paced modern lifestyles. Plastic extrusion product manufacturers benefited from the U.S.-China trade war because tariffs imposed on less expensive Chinese imports raised demand for American-made items.
In order to reach 1.3 million units, the U.S. battery electric car stock increased by 18.2% between 2020 and 2021, according to the International Energy Agency. The market for extruder manufacturers will also grow as more money is invested in electrifying the American road transportation system. For instance, the U.S. Department of Energy (DOE) awarded USD 200 million to ENTEK in October 2022 to help it develop a new lithium separator facility here. With the additional production capacity, ENTEK will be able to supply the components for 1.4 million electric vehicles annually. The growth of the American electric vehicle (EV) industry will likely increase demand for plastic extruded components, which will consequently increase demand for extruders in the country.
Market Restraints:
The market's growth might get tied down in the years to come, by the substantial initial tooling and equipment costs associated with plastic extrusion machines.
extrusion machinery market Segmentation
With respect to process type, the extrusion machinery market is segmented into Blown film extrusion, Sheet/film extrusion, Tubing extrusion, and others.
New sales and Aftermarket are included in the Solution-based segmentation of the plastic extrusion machine market.
Building and construction, medical, transportation, consumer goods, and others are among the applications included in the segmentation of the extrusion machinery market .
Regional Insights
Since 2022, the Asia Pacific has dominated the global market for plastic extrusion machines (with a peak share of 45.80% recorded). This is in response to consumers' growing demand for products made of flexible and soft plastic. In addition, the existence of numerous small- to medium-sized manufacturing industries, such as packaging, the automobile industry, consumer goods, and others, that demand the highest-quality extruded plastic products, creates a constant need for plastic extrusion equipment in nations like China and India.
During the projected term, Europe can anticipate achieving an impressive CAGR. The expanding automobile sector in the area is credited with the region's progress. Germany and the United Kingdom are two European nations that are anticipated to grow during the projection period. In all types of automobiles around the world, strict emission regulations are increasing the demand for interior materials made of plastic. Luxury is a way of life in Europe, and this, together with improving living standards and disposable income, has led to a surge in the use of plastic products across all end-use sectors, including the automobile and footwear industries. This, in turn, is likely to fuel demand for plastic extrusion equipment in the area.
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