Extruders Market worth $11.5 billion by 2026 - Exclusive Report by MarketsandMarkets™
CHICAGO, Oct. 19, 2021 /PRNewswire/ -- According to the report "Extruders Market by Extruder Type (Single-Screw, Twin-Screw, Ram), End-use Industry (Building & Construction, Transportation, Consumer Goods), and Region (APAC, North America, Europe, South America, and Middle East & Africa) - Global Forecasts to 2026", published by MarketsandMarkets™, the Extruders Market is projected to reach USD 11.5 billion by 2026, at a CAGR of 4.4% from USD 9.3 billion in 2021. This growth is primarily triggered by the increasing demand from the building & construction industry. APAC is the largest extruders market due to the stringent industrial standardizations pertaining to the high growth of the building & construction industry in the emerging countries such as China, India, Japan, and South Korea. The region is estimated to be the most populated in the world, which creates immense opportunity for the extruders market to grow.
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Single-Screw Extruder is the largest extruder type of extruders market.
The Single-Screw extruders are expected to continue to account for a leading share during the forecast period, owing to their low maintenance cost and flexibility in extruding common materials, such as HDPE, LDPE, PP, and polycarbonate. Single-Screw extruders are used for manufacturing products, such as extruded sheets, films, pipes, fibers, and profiles. The increasing use of plastic-based products in end-use industries, such as building & construction, consumer goods, medical, agriculture, and transportation, are driving the demand for Single-Screw extruders, globally.
Building & Construction is estimated to be the largest end-use industry of the extruders market during the forecast period.
Building & Construction is the largest end-use industry of the extruders market; in terms of value, in the global market in 2020. The demand for extruders in this industry is expected to increase mainly due to growing infrastructure spending in developing economies, such as China, India, Brazil, and the Middle Eastern countries. Extruders are used for manufacturing products, such as insulations, soffits, pipes, cable sheathing, architectural framing, door & window frames, shop fronts, and wall cladding, which are used in interior and exterior foundations in the building & construction industry. The growth of the building & Construction end-use industry is primarily triggered by the huge demand from the APAC region.
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APAC is estimated to be the largest market for extruders during the forecast period.
APAC is the largest market for extruders, followed by North America and Europe. The region is an emerging market for extruders, and it is mainly attributed to a high economic growth rate, followed by heavy investment across industries such as oil & gas, automotive, infrastructure, chemical, steel, and military, among others. With economic contraction and saturation in the European and North American markets, the demand is shifting to the APAC region. The high economic growth in the emerging countries and increasing disposable income of people in the region make APAC an attractive market for extruders. The increasing population and growing demand for various extruded products in APAC are primarily responsible for the high demand for extruders in the region.
The key market players profiled in the report include The Japan Steel Works Ltd. (Japan), Hilenbrand Inc. (US), Shibaura Machine Co. Ltd (Japan), KraussMaffei Group GmbH (Germany), Battenfeld-Cincinnati (Germany), NFM (US), Clextral (France), and Leistritz AG (Germany) among others.
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