Plastic Extrusion Machine Market Growth & Trends
The global plastic extrusion machine market size is expected to reach USD 9,020.8 million by 2030, expanding at a CAGR of 4.4% from 2023 to 2030, according to a new report by Grand View Research, Inc. Increasing penetration of plastics in the manufacturing of consumer electronics is expected to be one of the critical factors for the growth of plastic extrusion machine. In addition, plastic extruded parts are widely used for manufacturing structures & bodies of television sets, video recorders, cameras, and laptops. Moreover, motor housings and interior frames are manufactured using the extrusion process.
The demand for plastic extrusion machine is rising owing to the ability of plastics to be formed into complex shapes and the relative ease compared to metals or ceramics. Moreover, surged usage of engineering-grade plastics for producing pipe, fencing, window frames, plastic films, wire insulation, and deck railing is anticipated to grow during the forecast period.
Plastic extruded parts provide a solution for high volume and cost-efficiency. The recent trend of lightweight in the automotive industry to enhance fuel efficiency has resulted in increased use of plastic extruded parts coupled with the growing adoption of extruded products in the packaging industry is projected to drive the market of plastic extrusion machines over the forecast period.
The demand for plastic extruded products has been on the rise for several years because of several advantages of the extrusion process and the rising demand from end-use industries such as automotive, electronics, consumer goods, telecommunications, and renewable energy. Moreover, the low cost per part, flexibility in operation, high production volume, and compounding ability are the other factors responsible for the growing demand for extruded plastic and metal products.
Plastic extrusion machine manufacturers are seeking collaborations, mergers, and acquisitions to develop advanced and innovative solutions. In addition, manufacturers are also adopting several strategies, like new product development and geographical expansion, to enhance their market penetration and cater to end-use industries. For instance, in September 2022, KraussMaffei completed the construction of the new plant Laatzen near Hanover. The new plant will be used to produce recycling equipment and extrusion systems for the rubber and plastics processing sector.
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Plastic Extrusion Machine Market Report
Report Attribute — Details
Market size value in 2023 — USD 6,637.0 million
Revenue forecast in 2030 — USD 9,020.8 million
Growth rate — CAGR of 4.4% from 2023 to 2030
Base year for estimation — 2022
Historical data — 2018–2021
Forecast period — 2023–2030
Plastic Extrusion Machine Market Report Highlights
- Single-screw type segment accounted for 63.2% of the global market revenue in 2022 as they offer continuous output, compact design, low noise emission, low cost, and easy operation. Moreover, single-screw extruders are mainly used in plastic forming.
- The construction end-use segment accounted for 31.8% of the global market revenue in 2022. The rising investment has significantly influenced the use of extruded products in the construction industry in the housing sector. The growth of the construction industry in the Asia Pacific, North America, Europe has resulted in an increased demand for extruded products, including window frames, curtain walling, door frames, roofing & exterior claddings, canopies, space frame systems, and arches, thereby driving the demand for extrusion machinery in the construction industry.
- In December 2022, Davis-Standard launched the EPIC IV Control System. The system will enhance the worker’s experience and add connectivity to cloud-based solutions. The system monitors various parameters such as cooling functions, barrel heating, drive power unit, motor characteristics and extruder reducer.
