Growing investment of plastic extrusion machines in the industrial sector, high speed and bulk production offered by plastic extrusion machines, and high demand for extruded plastic products propel the growth of the global plastic extrusion machine market
PORTLAND, Oregon, May 6, 2019 /PRNewswire/ -- Allied Market Research recently published a report, titled, Plastic Extrusion Machine Market by Machine Type (Single Screw and Twin Screw), Process Type (Blown Film Extrusion, Sheet/Film Extrusion, Tubing Extrusion, and Others), and Solution (New Sales and Aftermarket): Global Opportunity Analysis and Industry Forecast, 2018–2025. The research offers a detailed analysis on changing market dynamics, key investment pockets, major segments, and market competition. According to the report, the global plastic extrusion machine market generated $6.05 billion in 2017, and is expected to reach $8.24 billion by 2025, growing at a CAGR of 3.8% from 2018 to 2025.
Factors such as the rapid growth in investment of plastic extrusion machines in the industrial sector, high speed and bulk production advantage of plastic extrusion machines, and high demand for extruded plastics products in the packaging, construction, and healthcare sectors drive the market growth. However, high initial cost of equipment is one of the major challenges faced by the plastic extrusion machine industry. Conversely, technological improvements create new opportunities for growth of the market.
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Blown film extrusion segment to lead in terms of revenue through 2025
Among process types, the blown film extrusion segment was the largest in 2017, capturing nearly two-fifths of the market share and would maintain its dominance through 2025. This is because industries such as automotive, consumer goods, and others opt for blown film plastic extrusion machinery to produce blown plastic films for their packaging applications. However, the tubing extrusion segment would grow at the fastest CAGR of 4.6% through 2025, owing to increasing application of these machines in industries such as food & beverage industry, medical industry, construction industry, and others.
Twin screw extrusion machine segment to be lucrative through 2025
Among machine types, the twin screw extrusion machine segment accounted for 57.7% of the market share in 2017 and would retain its dominance through 2025. The same segment would also witness the fastest CAGR of 4.1% during the forecast period. This is due to the various benefits offered by twin screw extrusion machines over its single-screw counterpart, which includes high productivity, advanced mixing ability, and ability to handle several processing functions such as mixing, melting, and venting in one extruder.
Asia Pacific to be lucrative through 2025
Among regions, the market in Asia-Pacific grabbed more than two-fifths of the market share and is likely to dominate the market through 2025. It would also achieve the fastest CAGR of 4.7% through the forecast period. There is a high demand for plastic extrusion machine in the region due to the presence of many small to mid-level manufacturing sectors such as consumer goods, packaging, automotive, and others requiring high quality and continuous profile extruded plastic products in economies such as China and India.
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Key players of the industry
Leading market players analyzed in the research include Bausano & Figli SpA, Costruzioni Meccaniche Luigi Bandera SpA, Kabra ExtrusionTechnik Ltd., KraussMaffei Group, Milacron Holdings Corp., Reifenhäuser GmbH & Co. KG Maschinenfabrik, The Japan Steel Works, Toshiba Machine Co., Ltd., UNION Officine Meccaniche SpA, and Windsor Machines Limited. These market players have adopted various strategies including collaborations, joint ventures, partnerships, expansions, and others to gain a strong position in the industry.
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