The extruders market is on a strong growth path, increasing from $9.92 billion in 2023 to $10.43 billion in 2024, showing a CAGR of 5.2%. This growth is influenced by the demand for food processing equipment and innovations in sustainable materials. The market is anticipated to reach $12.85 billion by 2028, with a CAGR of 5.3%, propelled by advances in 3D printing and energy-efficient machinery.
Major Driver In The Extruders Market
The extruders market is anticipated to experience growth driven by the expansion of the packaging industry. Packaging, essential for product distribution, identification, storage, promotion, and usage, is witnessing increased demand. Extrusion, a commercially effective technique, is particularly gaining traction in the food sector, encompassing food processing, digital food marketing, and food packaging. In October 2021, a report from Invest India highlighted a CAGR of 22% to 25% in India's packaging sector. Additionally, the US Flexible Packaging market generated $39 billion in sales in 2021, according to the Flexible Packaging Association. These developments underline the extruders market's positive trajectory, aligning with the growth of the packaging industry in 2023, 2024, and beyond.
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Extruders Market Competitive Landscape
Hillenbrand Inc., Nordson Corporation, The Japan Steel Works Ltd., Kraussmaffei Group GmbH, Coperion GmbH, Shibaura Machine Co. Ltd., Davis-Standard LLC, Reifenhauser GmbH & Co. KG Maschinenfabrik, Clextral S.A.S., Colines S.p.A., Keicher Engineering GmbH, Amut S.p.A., Theysohn Extrusionstechnik GmbH, Macchi S.p.A., Gamma Meccanica S.p.A., Union Officine Meccaniche S.p.A., Battenfeld-Cincinnati Austria GmbH, NFM Welding Engineers Inc., Leistritz AG, BC Extrusion Holding GmbH, Presezzi Extrusion S.p.A., Nanjing USEON Extrusion Equipment Co. Ltd., ENTEK Manufacturing Inc., Kuhne GmbH, W&H-Lengerich Maschinenbau GmbH, Clex Extrusion Technik GmbH, Bandera Luigi Costruzioni Meccaniche S.p.A., Sikora AG, Alpha Marathon Technologies Inc., Welex a Davis-Standard Company, Tecnomatic S.p.A., Kabra Extrusion Technik Ltd.
Key Extruders Market Trend
The extruders market is witnessing technological advancements as a key trend. Companies are developing products with enhanced technologies to remain competitive. For instance, in March 2021, GEA Group AG, a German food processing technology company, launched the xTru Twin 140 extruder. This extruder offers up to 40% more capacity while maintaining efficiency and quality. It is designed for various applications, including cereal-based snack pellets, dry pet food, and other extruded products.
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Extruders Market Segmentation
The extruders market covered in this report is segmented –
1) By Type: Single-Screw Extruder, Twin-Screw Extruder, Ram Extruder
2) By End-User: Building and Construction, Transportation, Consumer Goods, Other End-Users
By Geography:The regions covered in the extruders market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Asia-Pacific was the largest region in the extruders market in 2023.
The Extruders Global Market Report 2024 furnishes information about the global extruders market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
