Asia Pacific to Dominate Extrusion Sheet Market During Forecast Period
According
to TechSci Research report, “Global Extrusion Sheet
Market By Type (Polypropylene, Polystyrene, Acrylate, Polycarbonate,
Polyethylene, Others), By Structure (Solid & Textured, Multiwall,
Corrugated, Hollow, Others), By Material (Virgin, Reprocessed), By Thickness
(Up to 1mm, 1-3 mm, 3-5 mm, 5-10 mm, above 10mm), By Application (Building
& Construction, Signages, Automotive, Defence & Aerospace, Electrical
& Electronics, Medical, Packaging, Others), By Region, Forecast &
Opportunities, 2025”, the global extrusion sheet market
is expected to grow at a steady rate during the forecast period on account of the
growth in electrical, electronics & telecommunication industry, which is
likely to have a positive impact on the market owing to the rising demand in
wires for cables, computers and accessories and consumer appliances. Additionally,
low cost of manufacturing & procurement of feedstock, excellent mechanical
properties and entry of domestic players for raw materials, among others is
further expected to propel the market during the next five years. However, human
health hazards and associated environmental impacts can hamper the growth of
market during forecast period. Furthermore, increasing government regulations
and norms regarding use and disposal of plastics restricts the growth of
market. Also, intense competition amongst manufacturers concerning the supply
of raw material can cause a major challenge to the market growth.
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The global extrusion sheet market is segmented based on type, structure,
material, thickness, application, company and region. Based on type, the market
can be categorized into LDPE, HDPE, polypropylene, polystyrene, acrylate,
polycarbonate, polyethylene and others. The LDPE type segment is expected to
dominate the market on account of the widespread use of LDPE in packaging and
non-packaging applications. Based on structure, the market can be categorized
into solid & textured, multiwall, corrugated, hollow and others. The
multiwall structure segment is expected to hold a significant market share
during the forecast period. This can be accredited to the excellent thermal
insulation and impact strength of the multiwall structure. Additionally,
multiwall extrusion sheets have UV protection on the side facing the exterior
which provides good aging resistance. Based on thickness, the market can be
grouped into Up to 1mm, 1-3 mm, 3-5 mm, 5-10 mm, above 10mm. the 1-3mm segment
is expected to dominate the market owing to their widespread use in packaging
applications. Based on application, the market can be segmented into building
& construction, signages, automotive, defence & aerospace, electrical
& electronics, medical, packaging and others. The packaging segment
dominates the extrusion sheet market during the forecast period. This can be
ascribed to the increased demand of packaged food and rise in preference of
people for ready-to-eat food across the globe.
Sabic Innovative Plastics, Danpal,
Owens Corning, Serafin Group, Gallina USA, Keon, Mitsui Chemicals Othello, Inc.
and others are some of the leading players operating in global extrusion
sheet market. The companies operating in the market are using organic
strategies such as product launches, mergers and collaborations to boost their share.
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“Asia-Pacific is expected dominate
the market for extrusion sheet during the forecast period, owing to fast-paced
industrialization, elevating infrastructural standards, e-commerce boom, among
others in the region. Additionally, increasing use of extruded plastics in agriculture
is further anticipated to fuel the market during forecast period. For instance,
the Government of India is
striving to increase the consumption of plastic in agriculture applications. The
agriculture ministry of India plans to introduce micro irrigation system in 17
million hectares of land over the next few years.” said Mr. Karan
Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Global Extrusion Sheet Market By Type (Polypropylene,
Polystyrene, Acrylate, Polycarbonate, Polyethylene, Others), By Structure
(Solid & Textured, Multiwall, Corrugated, Hollow, Others), By Material
(Virgin, Reprocessed), By Thickness (Up to 1mm, 1-3 mm, 3-5 mm, 5-10 mm, above
10mm), By Application (Building & Construction, Signages, Automotive,
Defence & Aerospace, Electrical & Electronics, Medical, Packaging,
Others), By Region, Forecast & Opportunities, 2025” has evaluated the future growth potential of global extrusion
sheet market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities in global extrusion sheet market.
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