According to a new report published by Allied Market Research, titled,"Plastic Extrusion Machine Market: Global Opportunity Analysis and Industry Forecast, 2018 - 2025,"the global plastic extrusion machine market size was $6,057 million in 2017, and is projected to reach $8,244 million in 2025, growing at a CAGR of 3.8%. In value terms, the single-screw segment accounted for around two-fifths of the market share in 2017 and is expected to witness significant growth during the forecast period.
Using plastic extrusion machine, highly precise mass production of extruded plastic components is possible. Plastic extrusion machine serves as an energy efficient and ideal solution for producing large volume of continuous profile plastic products. The growth of the global plastic extrusion machine market is driven by surge in demand for plastic products across the world. In addition, the market for plastic extrusion machine is mainly compelled by the escalating demand for extruded parts from various end-use industries such as the automotive, packaging, consumer goods, and others. Currently, prominent players in the plastic extrusion machine market, which have widespread existence worldwide, lead the market with their extensive distribution network in couple with their state-of-the-art product portfolio, which is a major compelling factor for the global plastic extrusion machine market growth.
Plastic extrusion machines can yield efficient packaging with high accuracy for brittle and complex components such as consumer goods and electronics and mobile phones. Hence, the escalating adoption of these products is expected to add to the development of the industry. However, high initial cost of the equipment is expected to hamper the growth of the plastic extrusion machine industry. Further, major players are focused on introducing innovative, energy-efficient, reliable, and advanced plastic extrusion machines in the market; for example, Theysohn Extrusionstechnik GmbH deals in plastic extruders equipped with the newest technology in parallel twin-screw extrusion. With the improved gearbox design of Theysohn, high energy savings have been achieved. In addition, plastic extrusion process facilitates the reduction in waste while manufacturing. Most of the plastics used in plastic extrusion can be recycled. This in turn helps minimize the waste production. The environment-friendly nature of the process is expected to boost the global plastic extrusion machine market growth.
Based on machine type, the single-screw plastic extrusion machine segment is expected to account for the largest share in the global market during the forecast period in terms of volume. Based on the process type, blown film extrusion segment is expected to account for the maximum share during the forecast period. This is attributed to industries such as automotive, consumer goods, and others, opting for blown film plastic extrusion machinery to produce blown plastic films for their packaging applications. On the basis of solution, the market is divided into new sales and aftermarket. The new sales segment is expected to dominate the market during the plastic extrusion machine market forecast period.
Key Findings of the Plastic Extrusion Machine Market:
- Based on process type, the blown film extrusion segment was the largest revenue-generating segment in 2017.
- In 2017, twin-screw plastic extrusion machine generated the highest revenue, accounting for almost three-fifths of the market, and is projected to grow at a significant CAGR from 2018 to 2025.
- The aftermarket segment is projected to grow at a significant CAGR during the forecast period.
- China accounted for approximately half the Asia-Pacific plastic extrusion machine market share in 2017 in terms of revenue.
The key players in this market adopted product launch, partnership, and expansion as their key strategies to meet the change in consumer demands. Furthermore, they launched energy-effective plastic extrusion machines of different sizes to strengthen their market position. The key players profiled in this report include Bausano & Figli SpA, Costruzioni Meccaniche Luigi Bandera SpA, Kabra ExtrusionTechnik Ltd., KraussMaffei Group, Milacron Holdings Corp., Reifenhäuser GmbH & Co. KG Maschinenfabrik, The Japan Steel Works, Toshiba Machine Co., Ltd., UNION Officine Meccaniche SpA, and Windsor Machines Limited