According to SPER Market Research, the Extruded Plastics Market is increasing consumer demand for a range of goods, which has led to a significant expansion of the packaging sector. Extruded plastics are widely utilized to create films and wraps in this sector. This will significantly impact how the extruded plastics market grows over the course of the forecast year. The demand for commercial space, such as offices, hotels, malls, industrial corridors, and others, is also growing, which is causing the building and construction industry in both developed and emerging countries to expand quickly.
The main industries that employ extruded plastics, such as building & construction, packaging, automotive, industrial, and electrical & electronics, have been negatively impacted by the current pandemic outbreak. The growing supply-demand gap caused by the persistent health concern has impacted the worldwide supply chain for extruded plastics. According to The Economic Times, issues with the supply chain have caused a drop in exports of products including semiconductors, wires and cables, and other electronic goods. Additionally, some electronics companies have curtailed or shut down their operations due to the danger of infection among the staff because extruded plastics are often utilized as an insulating material in a variety of consumer electronics products. International travel and non-essential commerce have also been prohibited by governments, which has reduced the use of extruded plastics in a variety of end-use sectors. The decline in income has also reduced the demand for extruded plastics in the building and construction sector. According to a report published by the International Labour Organization, for instance, the effect on construction enterprises has been significant, with many of them encountering financial difficulties.
Extruded Plastics Market Overview:
- Forecast CAGR (2022-2032): 4.85%
- Forecast Market Size (2032): 327.64 billion
Impact of COVID-19 on the Global Extruded Plastics Market:
The new coronavirus is an unmatched worldwide pandemic that has affected many nations and resulted in significant losses in both human life and the global economy. The current pandemic outbreak has had a negative effect on the key end-users of extruded plastics, including building & construction, packaging, automotive, industrial, and electrical & electronics. The global supply chain for extruded plastics has been hampered by the widening supply-demand mismatch brought on by the ongoing health issue. The Economic Times said that problems with the supply chain have decreased exports of electronic goods like wires and cables, semiconductors, and other products. Additionally, because extruded plastics are frequently used as an insulating material in a variety of consumer electronics items, some electronics companies have either closed down or reduced their operations due to the risk of infections among the personnel.
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Extruded Plastics Market Key Segments Covered
The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2032. This report contains statistics on product type segment growth estimates and forecasts.
By Material Type:
- Acrylonitrile Butadiene Styrene
- High-Density Polyethylene
- Low-Density Polyethylene
- Pipes and Tubing
- Windows and Door Profiles
- Wire Insulation
By End Use:
- Building & Construction
- Middle East
- North America
- Latin America
he market for extruded plastics is expected to develop at the greatest CAGR during the forecast period in Asia-Pacific. Extruded plastics are employed as a primary insulating material in a growing number of consumer electronics goods, which explains why this is happening. Additionally, the automobile industry is expanding quickly in nations like India and Australia, where extruded plastics are frequently employed in sealing systems to improve the aerodynamics of vehicles.
Extruded Plastics Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Absolute Custom Extrusions, Inc, Arkema, Atlantis Plastics, Inc, Berry Global Inc, Britech Industries, Chevron Phillips Chemical Company, DuPont, Engineered Profiles LLC, Exxon Mobil Corporation, Formosa Plastics Group, GSH Industries, JM EAGLE, INC, Petro Extrusion Technologies, Inc, Preferred Plastics, Inc, SABIC, Saint-Gobain Performance Plastics, Sealed Air, SFR Industries, Sigma Plastics Group.
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Extruded Plastics Market Share
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SPER Market Research