What Transformation Has the Extrusion Sheet Market Undergone?
The extrusion sheet market has seen considerable growth due to a variety of factors.
•The market size of the extrusion sheet has notably expanded in the past few years. It's projected to rise from $121.32 billion in 2024 to $128.84 billion in 2025, at a compound annual growth rate (CAGR) of 6.2%.
The substantial growth observed in the historical period can be linked to the increasing demand in the packaging industry, advancements in industrial development and construction, growth of the automotive sector, uptake of renewable energy ventures, and a rising demand from the consumer electronics industry.
How Will The Extrusion Sheet Market Size Evolve In The Foreseeable Future?
The extrusion sheet market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of extrusion sheets is slated to experience significant expansion in the coming years, with anticipation to reach a value of $174.66 billion by 2029, at a compound annual growth rate (CAGR) of 7.9%.
The projected increase during this period can be accredited to greater attention paid to lightweight materials, burgeoning construction and infrastructural progress, vehicle electrification, global orientation towards sustainable energy, customization, and personalized remedies. Prevailing trends over the forecast period are expected to be progress in manufacturing and material technologies, environmentally friendly and decomposable materials, practices involving a circular economy, and the digitalization of manufacturing procedures.
Which Key Drivers Are Propelling The Extrusion Sheet Market's Growth?
The escalation of the food and beverage sector is set to bolster the extrusion sheet market. This industry spans all businesses that convert raw agricultural products into food items for the consumer market. The versatility, lightweight nature, and tailor-made solutions that extrusion sheets offer for packaging applications enhances product safety and facilitates easy transportation - a key advantage for the food and beverage sector. This surge in food and beverage consumption fuels growth in the extrusion market. For example, the April 2022 report from the US-based e-commerce growth agency, Common Thread Collective, predicts that food and beverage sales requiring packaging materials will rise to $435.3 billion in 2021, $506.3 billion in 2022, and $856.9 billion by 2025. As a result, this growing demand in the packaging sector is set to propel the extrusion sheet market forward.
What Are The Key Segments Within The Global Extrusion Sheet Market?
The extrusion sheet market covered in this report is segmented –
1) By Type: Polypropylene, Low Density Polyethylene (LDPE), Polycarbonate, High Density Polyethylene (HDPE), Polystyrene, Acrylate, Polyethylene, Other Types
2) By Structure: Corrugated, Solid And Textured, Hollow, Multiwall, Other Structures
3) By Material Source: Virgin, Recycled
4) By Process Type: Coextrusion, Thermoforming
5) By Industry Vertical: Packaging, Medical Devices, Consumer Electronics, Automotive, Construction, Other Industry Verticals
Subsegments:
1) By Polypropylene (PP): Homopolymer, Copolymer
2) By Low Density Polyethylene (LDPE): Linear Low Density Polyethylene (LLDPE), Regular Low Density Polyethylene
3) By Polycarbonate (PC): Solid Polycarbonate, Multiwall Polycarbonate
4) By High Density Polyethylene (HDPE): Blow Molding Grade, Injection Molding Grade
5) By Polystyrene (PS): General Purpose Polystyrene (GPPS), High Impact Polystyrene (HIPS)
6) By Acrylate: Methyl Methacrylate (MMA), Butyl Acrylate
7) By Polyethylene (PE): High-Density Polyethylene (HDPE), Low-Density Polyethylene (LDPE)
8) By Other Types: Polyvinyl Chloride (PVC), Thermoplastic Elastomers (TPE), Polyamide (Nylon)
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How Are New Trends Impacting The Size Of The Extrusion Sheet Market?
The extrusion sheet market is witnessing a predominant trend of embracing advanced technologies. Key players in the market are leveraging cutting-edge technologies to maintain their market standing. For example, Reifenhäuser Cast Sheet Coating GmbH & Co. KG, an engineering firm based in Germany, rolled out an innovative ultrathin coating technique for applying film for medical protective clothing in April 2022. This new technique leads to a 66% reduction in film grammage and an overall decrease in material usage by 28%. The procedure utilizes a LAMICOR-CL Laminator from Reifenhäuser with a mechatronic nip setting, which is vital for the ultrathin extrusion coating line.
Who Are the Key Players in the Extrusion Sheet Market?
Major companies operating in the extrusion sheet market include:
• Saudi Basic Industries Corp
•Evonik Industries AG
• Covestro AG
• DS Smith plc
• Owens Corning
• Kaneka Corporation
• Inteplast Group Corporation
• Hitachi Zosen Corporation
• Serafin Group Limited
• Formosa Plastics Corporation
• Ensinger GmbH
• MDI Inc.
• Simona AG
• Primex Plastics Corporation
• Plaskolite LLC
• Brett Martin Limited
• Palram Industries Ltd.
• Arla Plast AB.
• Danpal
• Westlake Plastics Company
• AGRU Kunststofftechnik GmbH
• Zylog Plastalloys Private Limited
• Karton S.p.A.
• Corex Plastics Pty. Ltd.
• Wellplast AB
• Extrutech Plastics Inc.
• Matra Plast Inc.
• Gallina USA LLC
What are the Regional Insights into the Extrusion Sheet Market?
Asia-Pacific was the largest region in the extrusion sheet market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the extrusion sheet market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
