The global extrusion sheet market size is expected to be worth around US$ 170.2 billion by 2030 from US$ 94.1 billion in 2020, growing at a CAGR of 5.9% during the forecast period 2021 to 2030.
Rapid industrialization across the globe is in tern creating huge demand for the extrusion sheets and driving growth of the global extrusion sheets market.
Key market Insights:
Extrusion sheets are estimated to create gainful growth opportunities for the major companies functioning in the global extrusion sheet market due to its excellent end-use applications. Emerging economies across the globe are focusing on the rapid industrialization which can have positive impact on the growth of the global extrusion sheet market. Extrusion sheets made up of PET, PP, and PVC are widely used in the food packaging as well as in the pharmaceutical blister packaging worldwide. However, in the furniture industries PVC, ABS, and PP extrusion sheets are largely adopted. Healthcare industry is also demanding extrusion sheets in the manufacturing of medical bags of PP and PVC. Further, some special applications of the extrusion sheets that are expected to augment target industry growth in the near future includes flexible sheet for gaskets, corrugated sheet, table cloths, among others.
Crucial factors accountable for market growth are:
COVID-19 Impact on Global Extrusion Sheet Market
Outburst of COVID-19 has impacted on most of the key markets across the globe. COVID-19 is having adverse impact on the target market. Asia Pacific is the biggest market for the extrusion sheet, but to the spread of coronavirus and lockdown situations in China, India, Japan has led to reduced supply and demand for the extrusion sheet. Due to COVID-19, supply chain disruption, fluctuations in the raw material supply, insufficient man power in the manufacturing facility and low demand form the end use costumers hampered target industry growth in the developed as well as emerging economies worldwide. However, COVID-19 situation is resolving slowly and most of the industries are started their facilities at full capacity.
Future of Global Extrusion Sheet Market
Key companies of the target industry such as SABIC, DS Smith Plc. are focusing in the business growth by adopting strategies such as capacity expansion, innovative product launches and heavy investments in the production in their facilities that is expected to flourish the global extrusion sheet market growth in the near future. This trend is expected to continue and will augment growth of the global extrusion sheet industry in the next 10 years. Further, increasing end use applications of extrusion sheet and rising construction as well as automotive industry are boosting growth of the extrusion sheet industry in the coming years.
|Market Size||US$ 170.2 Billion by 2030|
|Growth Rate||CAGR of 5.9% From 2021 to 2030|
|Historic Data||2017 to 2020|
|Forecast Period||2021 to 2030|
|Segments Covered||Type, Material, Structure, Application|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)|
|Companies Mentioned||Owens Corning, Corex Plastics Pty Ltd & MatraPlast, Karton S.p.A., DS Smith Plc., Arla Plast, MDI, Inteplast Group Corporation (Coroplast), Serafin Group (Exolon Group), Distriplast, Saudi Basic Industries Corporation, Wellplast Ab|
Polystyrene segment is projected to dominate the Type Segment of Extrusion Sheet Market Revenue
On the basis of type segment, the polystyrene type segment is expected to dominate in terms of revenue over the forecast time frame. The growth is attributed to the growing demand for production of extrusion sheet cross the globe.
Solid & Textured Segment Is Projected to Dominate the Structure Segment of Extrusion Sheet Market Revenue
On the basis of structure segment, the global market is segregated into multiple sub segments. The solid & textured segment is expected to dominate in terms of revenue over the forecast time frame. This segment is anticipated to grow at a CAGR of over 6.5% in the near future.
Virgin segment is projected to dominate the Materials Segment of Extrusion Sheet Market Revenue
On the basis of material segment the virgin material segment is expected to dominate in terms of revenue over the forecast time frame. However, the reprocessed segment will expand at a substantial CAGR during the forecast time-frame.
Packaging segment is projected to dominate the Application Segment of Extrusion Sheet Market Revenue
On the basis of application segment, the global market is segregated into defense & aerospace, building & construction, automotive, packaging, among others. Packaging raw material segment is expected to dominate in terms of revenue over the forecast time frame. The growth is attributed to growing adoption of extrusion sheets in the packaging applications. Automotive segment will expand at a significant CAGR during the forecast time-frame.
Asia Pacific is estimated to be the Largest Market for Extrusion Sheet
The research report covers key trends and prospects of extrusion sheet products across different geographical regions including North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa. Geographically, extrusion sheet market is conquered by Asia Pacific owing to increasing demand from the automotive and construction industries for the end-use applications especially in the India, China, and Japan of the region. North America is expected to register the fast growth rate, on account of increasing huge investment by key market players and growing adoption of the extrusion sheet in the packaging and furniture industries of the region.The growth of the extrusion sheet industry in the countries of the North America is attributed to growing adoption of the extrusion sheet due growth in the construction activities and increased usage of the electrical vehicles in the countries of the North America.
Top Players contending in the Market:
The companies focusing on research and development are expected to lead the global extrusion sheet market. Leading competitors contending in global extrusion sheet market are as follows:
For the better understanding the recent situation of the global extrusion sheet market and for most policies of the country, Precedence Research forecast the future evolution of the extrusion sheet industry. This research study offers qualitative and measureable insights on extrusion sheet market and valuation of market size and development trends for global market segments.
Key Market Developments:
Major Market Segments Covered:
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