About the Report
The demand for extruders and compounding machines witnessed a slump in 2020 as the Covid-19 pandemic forced the shutdown of industries and hit consumption across the board, thus leading to a decline in demand for plastic packaging. However, the demand for plastic packaging and extruders and compounding machines has picked up in recent months, thus reigniting hopes for a strong growth trajectory for both markets. Furthermore, the pandemic has also strengthened certain factors that can increase the demand for extruders and compounding machines.
A key trend that is expected to drive demand for extruders and compounding machines is the increase in consumption of packaged foods and beverages. While on the one hand this increase in consumption is driven by the ability of packed food products to stay fresh longer, the other key motivator is that packed foods are comparatively safer in hygienic terms. This is since they are usually treated to get rid of bacteria and viruses. With Covid-19 increasing health awareness among consumers about food treatment, packaged foods are slated to grow substantially. This in turn will drive sales of extruders and compounding machines, especially among medium and small industries.
Besides packaged food, the demand for plastic packaging has also increased exponentially in the pharmaceutical sector, which is a further positive for the growth of extruders and compounding machines. With the reopening of economies increasing at a rapid pace, especially since national vaccination programmes have gathered steam, the demand for extruders and compounding machines is also expected to return in other end-user industries.
An 1.6x increase in sales revenue from 2017 to 2027
According to the analysis done in this research study, the global extruders and compounding machines market is expected to exhibit moderate growth rate throughout the period of assessment, 2017-2027. Demand for extruders and compounding machines has been experiencing an upward trend with respect to growth since 2012, however during the 2012-2017 period, this market did not witness a higher increase in revenue.
The 2017-2027 timeline is more positive for the sales of extruders and compounding machines as per market observations and is anticipated to witness a 1.6x growth in revenue during this timeline. Global revenues are estimated to reach a valuation of more than US$ 18 Bn by the end of 2027 from a value of about US$ 11.5 Bn in 2017.
Also, sales are expected to reflect this estimation owing to a moderate value CAGR of 4.7% during the period of forecast. The sales of the extruder and compounding machines are industry driven. Their sales are influenced by the increasing demand from various end use industries such as food, chemicals, plastics and medical or pharmaceutical industries.
Plastics industry to largely use extruders and compounding machines
The growth of the market is directly linked to its applications across various end use industries. In the end use industry category, the plastic segment is expected to present lucrative opportunities for the growth of the global market.
The adoption of extruders and compounding machines in plastic industry is expected to rise in the coming years, driven by products such as plastic cutlery, caps & closures, tumblers, drums etc., thus making this segment highly attractive.
The plastic industry segment is expected to reach a value of more than US$ 6 Bn by the end of the year of assessment (2027) from a value of around US$ 3800 Mn in 2017. This segment is expected to grow at a steady rate and is poised to register a CAGR of 4.9% throughout the period of assessment (2017-2027).
In addition, the plastic industry segment is expected to gain additional 60 BPS during the forecast period owing to increasing demand from emerging economies such as China, India, Thailand and US, due to increased use of plastic in these regions.
Market Research Methodology - Perfected through Years of Diligence
A key factor for our unrivaled market research accuracy is our expert- and data-driven research methodologies. We combine an eclectic mix of experience, analytics, machine learning, and data science to develop research methodologies that result in a multi-dimensional, yet realistic analysis of a market.
Use of extruders and compounding machines in the food industry to skyrocket
Apart from the growth contribution from the plastic industry, the food sector has presented potential opportunities for growth of the global market. The food industry is expected to showcase increased demand and adoption of extruders and compounding machines in the years to follow.
This makes the food industry segment a comparatively fast growing one and is projected to rise at a value CAGR of 5.1% during the period of forecast (2017-2027). In 2017, the food industry segment was valued at about US$ 2900 Mn and is estimated to touch a valuation of more than US$ 4.8 Bn by the end of the year of assessment (2027).
On the other hand, the medical and pharmaceutical industry segment is expected to grow at a comparatively slow rate during the forecast period.
Weighted market segmentation is essential to garner key insights on each and every aspect. Below is a detailed market taxonomy covering various segments of the global extruders and compounding machines market.
By Product Type
- Single Screw
- Twin Screw
- Ram Extruders
- Speciality Plastics
- PVC Cable
- Master Batch Production
- Flooring Sheet
By End Use Industry
- Food Industry
- Chemical Industry
- Plastic Industry
- North America
- Latin America
- Asia Pacific Excluding Japan (APEJ)
- Middle East & Africa (MEA)