Extrusion sheets are plastic sheets produced using extrusion
process. These sheets are used in a variety of applications such as protective
packaging, labels, insulation, and signage. The increasing demand for
protective packaging from food & beverage and pharmaceutical industries is
promoting the growth of extrusion sheet market. Extrusion sheets provide good
barrier properties against moisture, gases, and odor. They act as an efficient
packaging material to protect products during transportation and storage.
The global extrusion sheet market is
estimated to be valued at US$ 45 billion in 2024 and is expected to exhibit a
CAGR of 5.3% over the forecast period 2024-2030.
Key Takeaways
Key players operating in the extrusion sheet market are DuPont, Novolex, DS
Smith, Genpak, and Profol Group.
Growing e-commerce industry and changing consumer preference towards convenient
packaging solutions are creating lucrative opportunities for Extrusion
Sheet Market Trends players. Furthermore, increasing foreign direct investments
in packaging industry of developing nations will accelerate the global
expansion of extrusion sheet market.
The market is primarily driven by rising demand from packaging industry.
Extrusion sheets being cost-effective, durable and lightweight are increasingly
used in packing food & beverage products, medicines, and other consumer
goods. Additionally, favorable government policies supporting growth of
packaging industry along with increasing per capita plastic consumption in
emerging nations will boost the extrusion sheet market during the forecast
period.
PEST Analysis
Political: The key political factor affecting the extrusion sheet market is
regulations regarding plastic production and usage. Various governments have
implemented regulations to curb plastic pollution.
Economic: The global macroeconomic factors such as GDP growth, disposable
incomes influence the demand for extrusion sheets from end-use industries.
Fluctuations in raw material prices also impact the market.
Social: Growing environmental concerns regarding plastic waste have influenced
consumer preferences. Customers are increasingly opting for sustainable and
recyclable packaging solutions.
Technological: Advances in extrusion technology have enhanced productivity and
enabled mass production of high-quality sheets. Investments in automation and
robotics facilitate production of customized sheets meeting diverse industrial
needs.
Geographical Regions with High Market
Concentration
The North American and European markets account for over 50% share of the
global extrusion sheet market in terms of value. This can be attributed to the
large automotive, construction and packaging industries in countries like the
US, Germany, and France driving consistent demand. The Asia Pacific region is
also a major revenue generator led by China owing to its position as the
largest plastic producer and consumer base.
Fastest Growing Regional Market
The extrusion sheet market in the Asia Pacific region excluding Japan and China
is expected to exhibit the highest CAGR during the forecast period. This growth
can be accredited to rising industrial and infrastructure development, growing
population, urbanization, and increasing per capita incomes in countries like
India, Indonesia, and Vietnam driving the consumption of extrusion sheets.
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Author:
Money
Singh is a seasoned
content writer with over four years of experience in the market research
sector. Her expertise spans various industries, including food and beverages,
biotechnology, chemical and materials, defense and aerospace, consumer goods,
etc. (https://www.linkedin.com/in/money-singh-590844163)
