Extrusion Machinery Market Size, 2023–2030; Industry Statistics & Growth Analysis
Extrusion Machinery Market size surpassed USD 48 Billion in 2022 and is poised to reach USD 133.5 Billion, growing at over 14% CAGR between 2023 and 2030. The market is driven by various factors such as technological advancements, increasing demand from end-use industries, and the growing trend of automation in manufacturing processes.
Growth Drivers & Opportunities:
1. Technological Advancements: The continuous advancements in extrusion machinery, such as the incorporation of computer numerical control (CNC) systems and automation in the manufacturing process, have improved efficiency, precision, and productivity. This has positively impacted the market growth as it enables manufacturers to produce high-quality extruded products at a faster pace.
2. Increasing Demand from End-use Industries: The demand for extruded products is witnessing rapid growth across various end-use industries such as construction, automotive, packaging, and consumer goods. Extrusion machinery plays a crucial role in the production of components and products used in these industries, thereby driving the market growth.
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3. Growing Trend of Automation: The rising trend of automation in manufacturing processes has significantly contributed to the growth of the extrusion machinery market. Automation not only enhances efficiency and productivity but also eliminates human errors, reduces downtime, and optimizes resource utilization. As a result, manufacturers are increasingly adopting automated extrusion machinery, propelling market expansion.
Segmentation Analysis:
1. Sub-Segment: Plastics Industry
The plastics industry is a major end-user of extrusion machinery. It includes a wide range of sub-segments, such as packaging, automotive, construction, and consumer goods. Among these, the packaging sub-segment holds significant importance. The demand for extrusion machinery in the packaging industry is driven by the need for efficient and cost-effective packaging solutions. The machinery is used to extrude plastic materials into various packaging forms, such as films, sheets, and containers, catering to industries like food and beverages, pharmaceuticals, and personal care.
Regional Forecast:
North America
North America is likely to dominate the extrusion machinery market due to the presence of a well-established manufacturing sector and stringent regulations regarding energy-efficient and eco-friendly production processes. The region is witnessing a growing demand for advanced extrusion machinery, particularly in the packaging and automotive industries.
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Asia Pacific
With the increasing urbanization and industrialization in countries such as China, India, and Japan, the Asia Pacific region is anticipated to witness significant growth in the extrusion machinery market. The region’s rising population, coupled with the need for infrastructure development, is driving the demand for extrusion machinery in various sectors, including construction, automotive, and food packaging.
Europe
Europe is expected to witness steady growth in the extrusion machinery market, primarily driven by the presence of high-quality manufacturing facilities and the need for sustainable manufacturing processes. Countries like Germany, Italy, and France are likely to contribute significantly to the market growth, owing to their well-established machinery manufacturing industries.
Table of Contents (TOC) of Report:
Chapter 1. Methodology
- Market Definition
- Study Assumptions
- Market Scope
- Segmentation
- Regions Covered
- Base Estimates
- Forecast Calculations
- Data Sources
- Primary
- Secondary
Chapter 2. Executive Summary
Chapter 3. Extrusion Machinery Market Insights
- Market Overview
- Market Drivers & Opportunity
- Market Restrains & Challenges
- Regulatory Landscape
- Ecosystem Analysis
- Technology & Innovation Outlook
- Key Industry Developments
- Partnership
- Merger/Acquisition
- Investment
- Product Launch
- Supply Chain Analysis
- Porter’s Five Forces Analysis
- Threat of New Entrants
- Threat of Substitutes
- Industry Rivalry
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- COVID-19 Impact
- PESTLE Analysis
- Political Landscape
- Economic Landscape
- Social Landscape
- Technology Landscape
- Legal Landscape
- Environmental Landscape
- Competitive Landscape
- Introduction
- Company Market Share
- Competitive Positioning Matrix
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