Global Extrusion Machinery Market Growth Analysis 2024 – Forecast Market Size And Key Factors Driving Growth

Overview and Scope

Extrusion machinery refers to equipment that pushes or pulls material through a shaped die to create a continuous length of product with a predetermined cross-section. It is used to produce a large number of commercial products, which include steel or copper wire, plastic tubing, plastic sheets, and many food types.

Sizing and Forecast

The extrusion machinery market size has grown steadily in recent years. It will grow from $7.6 billion in 2023 to $7.96 billion in 2024 at a compound annual growth rate (CAGR) of 4.7%. The growth in the historic period can be attributed to industrialization and manufacturing growth, rise in construction activities, market demand, competitive landscape, raw material prices.

The extrusion machinery market size is expected to see steady growth in the next few years. It will grow to $9.64 billion in 2028 at a compound annual growth rate (CAGR) of 4.9%. The growth in the forecast period can be attributed to sustainability initiatives, rising market demand, global trade dynamics, customization requirements, energy efficiency. Major trends in the forecast period include market expansion, customization and flexibility, energy efficiency and sustainability, market consolidation and competition, technological advancements.

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Segmentation & Regional Insights

The extrusion machinery market covered in this report is segmented –

1) By Type: Single-Screw, Twin-Screw
2) By Material: Metals, Polymers, Concrete, Ceramics, Foodstuffs
3) By Process: Cold Extrusion, Hot Extrusion, Friction Extrusion, Other Processes
4) By End-Use: Construction, Consumer Goods, Automotive, Packaging, Other End-Uses

North America was the largest region in the extrusion machinery market in 2023. The regions covered in the extrusion machinery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth

The growing demand for plastic products is expected to boost the growth of the extrusion machinery market going forward. Plastic products refer to synthetically produced compounds that are made from polymers. Plastic extrusion machines are used to shape plastic into the variety of shapes, sizes, and structures needed to produce a wide range of items. Hence, the growing demand for plastic products will result in demand for extrusion machinery. For instance, according to the United Nations Environment Programme, a US-based authority for the environment with programs focusing on climate, nature, pollution, sustainable development, and more, the global primary plastic output is expected to increase to 1,100 million tons by 2050 from the current 400 million tons per year. And a whopping 36% of all plastics made are used in packaging, including single-use items for food and drink containers that are disposed of in landfills or as uncontrolled trash in a whopping 85% of cases. Therefore, the growing demand for plastic products is driving the growth of the extrusion machinery market.

Key Industry Players

Major companies operating in the market are introducing advancements in technology, such as use of 3D printing, to sustain their position in the market. 3D printing is a manufacturing process that creates physical objects layer by layer from digital models by depositing material, typically plastic, metal, or resin, to construct a three-dimensional product. For example, in December 2022, Rapidia, a US-based company that manufactures equipment that will bring high-speed metal 3D printing, introduced its ‘innovative metal extrusion technology’ to the European market. The technology, known as Metal Paste Deposition (MPD), is a powder-free metal 3D printing process that uses a water-based metal paste to create metal parts. Unlike traditional laser-based systems that melt metal powder, MPD extrudes a water-based metal paste, which consists of metal particles bound in a mixture of water and binder. The water component is evaporated during printing, leaving behind a green part consisting of metal particles and a minimal amount of binder. This process eliminates the need for a debinding step, allowing printed parts to go directly into the furnace for sintering.

The extrusion machinery market report table of contents includes:

1. Executive Summary

2. Extrusion Machinery Market Characteristics

3. Extrusion Machinery Market Trends And Strategies

4. Extrusion Machinery Market – Macro Economic Scenario

5. Global Extrusion Machinery Market Size and Growth
….

31. Global Extrusion Machinery Market Competitive Benchmarking

32. Global Extrusion Machinery Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Extrusion Machinery Market

34. Extrusion Machinery Market Future Outlook and Potential Analysis

35. Appendix

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