The Plastic Extrusion Machine Market is expected to experience significant growth in the coming years, driven by the increasing demand for plastic products in various industries such as packaging, construction, and automotive. Plastic extrusion machines are used to produce plastic products of various shapes and sizes, making them highly versatile and useful in a wide range of applications.
The Global Plastic Extrusion Machines Market size was valued at $6.3 billion in 2019, and is projected to reach $7.9 billion by 2027, registering a CAGR of 4.5% from 2020 to 2027.
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Top Companies
ARBURG, ENGEL, Haitian International, Husky Injection Molding Systems, KraussMaffei Group, Milacron Holdings Corp., Nissei Plastic Industrial Co., Ltd., Sumitomo Heavy Industries, The Japan Steel Works, Ube Industries, Ltd., Shibaura Machine Co Ltd., Nigon Machines Ltd., and BMB s.p.A.
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 global plastic extrusion machine market growth is driven by surge in demand for extruded plastic products globally. In addition, the market for plastic extrusion machine is chiefly propelled by the rising demand for extruded parts from various end-use industries such as the automotive, packaging, construction, and others. Currently, leading companies in the plastic extrusion machine market, which have widespread existence worldwide, lead the market with their extensive distribution network in couple with their high-tech product portfolio, which is a key compelling factor for the global plastic extrusion machine market development.
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Further, key players are focused on introducing innovative, energy-efficient, reliable, and advanced plastic extrusion machine 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.
Further, these machines can yield efficient packaging with high accuracy for brittle and complex components such as consumer goods and electronics and automotive components. 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 industry. Furthermore, technological advancement in the plastic extrusion machines is anticipated to provide lucrative opportunities for growth of the global plastic extrusion machine market.
The global plastic extrusion machine market is segmented based on machine type, solution, process type, application, and region. Based on machine type, the market is divided into twin-screw and single screw.
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