OTTAWA, Feb. 03, 2021 (GLOBE NEWSWIRE) -- The global extrusion sheet market size was estimated at USD 94.1 billion in 2020 and projected to be worth around USD 170.2 billion by 2030 with a compound annual growth rate (CAGR) of 5.9% over forecast period 2021 to 2030.
Extrusion of the sheets refers to the technical process within which thermoplastic resins are transformed into or rolled in sheets by the application of pressure and heat. In this process raw material is melted first in order to form continues profile. Sheet extrusion plays vital role in the manufacturing of various healthcare devices, automotive parts, construction materials, and consumer electronics among others. The process of extrusion of sheets is deliberated as the supreme critical process. The common extrusion processes include worm, micro, clod, and extrusions. Extrusion sheets are used in various emerging applications which is having positive impact on the growth of the global market. Construction, automotive, and packaging industries uses steel, titanium, copper, magnesium, ceramics, various polymers based extruded sheets for the multiple end use applications.
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Growth Factors:
Extrusion sheets plays major role in the commercial sectors as they are used in various blends. Rapid industrialization across the globe is in tern creating huge demand for the extrusion sheets and driving growth of the global extrusion sheets market. In addition to this, growing demand for the extrusion sheets in the automotive and construction industries for the various end use applications is expected to propel growth of the global extrusion sheet market in the near future. Furthermore, growing consumption in the packaging industry and increasing adoption for the manufacturing of the health-care devices, electronics appliances are among major factors to boost growth of the global market during the forecast time frame. However, fluctuating prices of the raw materials is anticipated to restrain growth of the global market in the near future. Also, safety issues, coupled with high costs associated with the metals can have negative impact on the global market growth. Nevertheless, leading players in the global industry are focusing on offering best and maximum durability products which are creating potential opportunities in the target industry.
Report Highlights:
- On the basis of type, polystyrene segment registered for the largest revenue with significant share in 2020. This is growth is due growth in the increasing usage of polystyrene in various blends for the manufacturing of extrusion sheets in commercial industries. Polypropylene segment is likely to grow at a remarkable CAGR during the forecast time-frame.
- Among the structure segment, solid & textured accounted for the prime revenue with significant share in 2020. This segment is anticipated to grow at CAGR over 6.5% in the near future.
- On the basis of materials, virgin segment is expected hold largest revenue share in the forecast period of time 2021-2030. However, the reprocessed material segment is anticipated to register substantial CAGR during the forecast time-frame.
- On the basis of application, packaging segment accounted for the largest revenue with significant share in 2020. This is growth is increasing adoption of the extrusion sheets in the packaging sectors worldwide. Packaging application is expected to grow around 6.5% CAGR during the forecast time-frame.
- DS Smith Plc, a leading player in the global industry estimated for the noteworthy share of the global extrusion sheet market. The growth is attributed to various business strategies adopted by the company.
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Regional Analysis:
The report covers data for North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. In 2020, Asia Pacific dominated the global market with a market share of more than 25%. China signified as the highest shareholding country in the Asia Pacific region primarily due to increasing use of plastic extrusion sheets in the manufacturing of automotive and electronics in the country. Rapid industrialization in the countries of the Asia Pacific such as India, China, Japan, Thailand, and emerging economies are creating huge demand for these sheets and fueling target market growth in the region. Further Europe is an important market in the extrusion sheet. The growth of the extrusion sheet industry in the countries of the North America is attributed to growing adoption of the extrusion sheet due to increasing usage of electric vehicles and rising construction activities in the United States and Canada of the region. North America anticipated to grow at the maximum CAGR in the forecast period. Latin America and the African and Middle Eastern region will show perceptible growth over the forecast period owing to growing applications of extrusion sheet in the countries including Brazil, Mexico, GCC of the regions.
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Key Market Players and Strategies:
The key companies functioning in the worldwide extrusion sheet are Owens Corning, Corex Plastics Pty Ltd & Matra Plast, Karton S.p.A. DS Smith Plc, Arla Plast, MDI, Inteplast Group Corporation (Coroplast), Serafin Group (Exolon Group), Distriplast, Saudi Basic Industries Corporation (Sabic Innovative Plastics), and Wellplast Ab among others. Investment in the research and development of the extrusion sheet along with strategic collaborations are the crucial business strategies undertaken by the major players operating in the global extrusion sheet market.
Market Segmentation
By Type
- Polypropylene
- LDPE
- Polycarbonate
- HDPE
- Polystyrene
- Acrylate
- Polyethylene
- Others
By Material
- Reprocessed
- Virgin
By Structure
- Corrugated
- Solid & Textured
- Hollow
- Multiwall
- Others
By Application
- Defense & Aerospace
- Building & Construction
- Signages
- Medical
- Automotive
- Electrical & Electronics
- Packaging
- Others
By Geography
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
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