According to a new report, published by KBV research, The Global Extruded Plastics Market size is expected to reach $252.9 billion by 2031, rising at a market growth of 4.2% CAGR during the forecast period. In the year 2023, the market attained a volume of 1,32,285.0 kilo tonnes, experiencing a growth of 17.4% (2020-2023).
The Polypropylene segment is anticipating a CAGR of 4.6% during (2024 - 2031). Polypropylene offers a unique combination of properties, including high strength-to-weight ratio, chemical resistance, stiffness, and dimensional stability. These properties make it suitable for a diverse range of applications, including packaging films, sheets, pipes, profiles, and automotive components. Thus, these factors can help in the expansion of the segment.
The Profiles segment is leading the Global Extruded Plastics Market by Application in 2023; thereby, achieving a market value of $96.8 billion by 2031. Profiles made from extruded plastics are favored for their durability, lightweight nature, and corrosion resistance, making them ideal for window frames, door frames, and architectural trim applications. The increasing trend towards energy-efficient buildings has also increased demand for profiles used in insulating window and door systems fabrication. Therefore, these factors will assist in the growth of the segment.
The Construction segment is registering a CAGR of 4.4% during (2024 - 2031). Many extruded plastic products used in construction offer excellent thermal insulation properties. This helps improve energy efficiency in buildings by reducing heat transfer and lowering heating and cooling costs. The ability to shape and dimension extruded plastics permits the creation of intricate designs and customizations by the particulars of a given project. Thus, these aspects can assist in the expansion of the segment.
Full Report: https://www.kbvresearch.com/extruded-plastics-market/
The Asia Pacific region dominated the Global Extruded Plastics Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $116.7 billion by 2031. The Europe region is experiencing a CAGR of 3.7% during (2024 - 2031). Additionally, The North America region would exhibit a CAGR of 3.9% during (2024 - 2031).
By Material (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Application (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By End-use (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Geography (Volume, Kilo Tonnes, USD Billion, 2020-2031)
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