Portland, OR, April 26, 2021 (GLOBE NEWSWIRE) – According to the report released by Allied Market Research, the global Plastic extrusion machine market was valued at $ 6.30 billion in 2019 and is projected to reach $ 7.93 billion by 2027, recording a CAGR of 4.5% from 2020 to 2027. The report provides an in-depth analysis of the top investment pockets, top winning strategies, and drivers and opportunities.
The high speed and mass production advantage, the increasing demand for extruded plastic products, and the tremendous flexibility and post-extrusion modification benefits are driving the growth of the global plastic extrusion machine market. On the other hand, high initial machine costs, as well as product restrictions and size deviations, impede growth to some extent. Nonetheless, recent technological advances are expected to create lucrative opportunities in the region.
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- The Covid-19 outbreak resulted in prolonged lockdowns, disruption to international trade and distorted processes in manufacturing.
- The second wave of the pandemic is now wreaking havoc in most countries around the world, and government agencies have started again to enforce strict regulations across multiple business activities. This in turn dwindled the demand for plastic extrusion machines from industry.
The global plastic extrusion machine market is analyzed by machine type, process type, solution, application and region. Based on machine type, the twin screw segment accounted for more than half of the total market share in 2019 and is expected to dominate by 2027. The same segment would also see the fastest CAGR of 4.8% over the entire forecast period.
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Depending on the type of process, the blown film extrusion segment contributed almost two fifths of total market sales in 2019 and is expected to be the leader by 2027. The hose extrusion segment, on the other hand, would have the fastest CAGR of 5.4% from 2020 to 2027.
In terms of region, the Asia-Pacific region held the largest share in 2019 and captured almost half of the global market. At the same time, the market in LAMEA would grow with the fastest CAGR of 5.4% in the forecast period. The other provinces discussed in the report include Europe and North America.
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Key market players analyzed in global Plastic Extrusion Machines market report include Costruzioni Meccaniche Luigi Bandera SpA, Kabra ExtrusionTechnik Ltd., KraussMaffei Group, Milacron Holdings Corp., UNION Officine Meccaniche SpA, Bausano & Figli SpA, Windsor Machines Limited Reifenhäuser GmbH & Co KG Maschinenfabrik, The Japan Steel Works and Toshiba Machine Co., Ltd. These market participants have developed various strategies including partnership, expansion, collaboration, joint ventures, and others to strengthen their standing in the industry.
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