April 26, 2021 10:10 ET | Source: Allied Market Research Allied Market Research
Portland, OR, April 26, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global plastic extrusion machines market was estimated at $6.30 billion in 2019 and is expected to hit $7.93 billion by 2027, registering 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 & opportunities.
High speed and bulk production advantage, increase in demand for extruded plastic products, and huge flexibility and post extrusion modification benefits drive the growth of the global plastic extrusion machines market. On the other hand, high initial machinery cost and product limitations and size variances impede the growth to some extent. Nevertheless, newer technological advancements are expected to create lucrative opportunities in the region.
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The global plastic extrusion machines market is analyzed across 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 register the fastest CAGR of 4.8% throughout the forecast period.
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Based on process type, the blow film extrusion segment contributed to nearly two-fifths of the total market revenue in 2019, and is anticipated to lead the trail by 2027. The tubing extrusion segment, on the other hand, would register the fastest CAGR of 5.4% from 2020 to 2027.
Based on region, Asia-Pacific held the major share in 2019, garnering nearly half of the global market. Simultaneously, the market across LAMEA would grow at the fastest CAGR of 5.4% during the forecast period. The other provinces discussed in the report include Europe and North America.
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The key market players analyzed in the 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 players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
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