Pune, India -- (SBWIRE) -- 02/07/2018 -- According to a new report published by Infinium Global Research global extruded plastics market was worth USD 190.86 billion in 2015 and it is projected to reach USD 263.24 billion in 2023 expanding at a CAGR of 4.7% between 2017 and 2023. In terms of volume of consumption the market size of extruded plastics was 294.6 million metric tons in 2016 and it is projected to reach 366.0 million metric tons by the end of 2023, growing at a CAGR of 3.2% over the forecast period 2017-2023

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Low-density polyethylene segment accounted for the largest market size over the past couple of years

The major types covered in the report include low-density polyethylene, polypropylene, polyvinyl chloride, high-density polyethylene, polystyrene and others (including ABS, polyamides etc.). Globally, the plastic industry has experienced radical changes over the years, primarily due to emergence of new technologies and arrival of new innovative materials. The global extruded plastics market is expected to experience substantial growth from product types such as PVC and low-density polyethylene. The extruded PVC segment is expected to grow at a CAGR of 5.0% to be the fastest growing segment. The applications of PVC such as manufacturing of plastic doors, pipes and tubes are likely to boost the market size of PVC segment in the years to come. Packaging applications of low-density polyethylene segment is expected to augment the market size of low-density polyethylene segment over the forecast period.

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Packaging segment to be the largest revenue contributor in the extruded plastics market

The report covers end user industries of extruded plastics such as Packaging, Building and constructions, automotive, consumer goods, electrical and electronics and others (workstations, exploration, and others). The global extruded plastics market is primarily driven by rapid growth in the application segments such as packaging and building and construction segments. Emerging markets have shown significant growth in these segments over the period of 2015-2016. Moreover, developed economies also have experienced steady growth in the construction sector. Owing to steady growth in packaged goods industry, the demand for extruded plastic has experienced steady growth in the developed economies. Building and construction segment is projected to be amongst the trends in the world extruded plastic market over the period of 2017-2023. Furthermore, steady growth in packaging industry worldwide is expected to maintain this application segment's dominance over the forecast period. With rapid growth in electronics and electrical goods and consumer goods segments, the market size of extruded plastics in two segments are expected to grow at a similar rate over the forecast period.

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The companies covered in the report

The companies covered in this report include: Formosa Plastics Group, SABIC (Saudi Arabia Basic Industries Corporation), Sigma Plastics Group, JM Eagle, Sealed Air Corporation, Berry Plastics Corporation, E. I. Du Pont De Nemours and Company, AEP Industries Inc., The DOW Chemical Company, Chevron Phillips Chemical Company LLC.

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