North America Plastic Extrusion Market Size By Material (Polyvinyl chloride (PVC), Polyethylene (PE), Polypropylene (PP)), By End-User (Cable and Wire, Power Management, Refrigeration), By Geographic Scope And Forecast

North America Plastic Extrusion Market Size And Forecast

North America Plastic Extrusion Market size was valued at USD 23,979.81 Million in 2021 and is projected to reach USD 40,488.86 Million by 2030, growing at a CAGR of 6.12% from 2023 to 2030.

Growing demand from energy distribution & power stations fuelling the growth of the market. Additionally, advancements in plastic extrusions drive the growth of the North America Plastic Extrusion Market. The North America Plastic Extrusion Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

North America Plastic Extrusion Market Definition

Plastic Extrusions are the plastic materials produced by continuously foaming and melting polymeric materials at high volumes. Usually, plastic extrusions are widely applied to manufacture films, wraps, sheets, pipes, tubes, and others in various industries such as building & construction, automotive, packaging, and others. For the research report purpose, plastic extrusions, which are used for power management, data centers, refrigeration and cable & wire in the material type of Polyvinyl chloride (PVC), Polyethylene (P.E.), Polypropylene (P.P.), and Others are considered under the scope.

The increase in population has increased the demand for various consumer goods, which has led the power and energy sector to grow significantly, with extruded plastics being widely used for the production of cables & wire in the industry. Data centers are proliferating in developed and emerging economies due to the increasing demand for commercial spaces such as offices, hotels, shopping malls, industrial corridors, and more. In addition, increasing investment in data and networks in countries such as the U.S. has led to significant growth in the market.

North America Plastic Extrusion Market Overview

Growing demand from energy distribution & power stations fuelling the growth of the market. There is a tremendous rise in urbanization across North America as there is a rise in industrialization within the North American countries. Leaving their dwelling places, people are shifting towards the cities and towns for their living as these areas offer more employment and a better standard of living. According to UN World Urbanization prospects, in 2018, 55% of people live in urban areas. In the developed nations, the United States & Canada, over 80% of the population live in urban areas. On the other hand, 50% to 80% of the total population survive in urban areas such as cities and towns. Thus, the increase in the urban population leads to a rise in power consumption. Additionally, advancements in plastic extrusions drive the growth of the North America Plastic Extrusion Market. Business models need to evolve with technological advancements, sometimes due to market fluctuations and the innovation of recent technology. This leads to the emergence of novel and exciting trends. This analysis report intricately monitors the start-up system from around the world. The present market demand is focused on efficient extruders that meet the minimum standards or laws mandated within the region. Extruders are instrumentally used for the extrusion of feeds into profiles. They’re mainly used for continuous and customized plastic production. Varied extrusion strategies and associated technologies are sanctioning producers to enhance productivity in their production processes.

However, volatility in raw material prices restrains the growth of the North America Plastic Extrusion Market. A variety of plastic materials, such as Polyvinyl chloride (PVC), Polyethylene (PE), Polypropylene (PP), and other plastic material, is used in plastic extrusion. Plastic is a commodity with volatile prices due to fluctuating demand from different industries, supply chain disturbances, and other factors. Thus, volatile raw materials prices might be the major restraining factor in strangling the market’s growth over the forecasted period.Furthermore, the high demand for cables and wires across various industries offers lucrative growth opportunities for the market. Cables and wires have robust applications across various industry verticals such as construction, infrastructure, transportation systems, and others. Thus, the growing demand for cables and wires might create new opportunities for the North American market over the forecasted period. Majorly, growing construction is aiding to create new opportunities as the construction is growing potentially across the United States and Canada. The U.S. Census Bureau and the U.S. Department of Housing and Urban Development’s joint report state that a total of 1,449,000 housing constructions had been completed by April 2021. And around 1,569,000 housing units had been started construction and are under construction process. The unadjusted estimates of housing units authorized by building permits for January through December 2020 have been revised and accounted for 1,760,000 permits across the country.

North America Plastic Extrusion MarketSegmentation Analysis

The North America Plastic Extrusion Market is segmented based on Material, End-User, and Geography.

North America Plastic Extrusion Market, By Material

• Polyvinyl chloride (PVC)• Polyethylene (PE)• Polypropylene (PP)• Others

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On the basis of Material, the North America Plastic Extrusion Market has been segmented into, Polyvinyl chloride (PVC), Polyethylene (PE), Polypropylene (PP), and Others. Polyvinyl chloride (PVC) accounted for the largest market in 2021 and is projected to grow at a CAGR of 4.93% during the forecast period. Polyethylene (PE) was the second-largest market in 2021. Polyvinyl Chloride (PVC) is one of the most widely used polymers in the world. Owing to its adaptability, PVC is widely utilized in various industrial, technical, and everyday applications, including in the construction, transportation, packaging, electrical/electronic, and healthcare industries. PVC is a robust, long-lasting material that can be utilized in a variety of applications. It comes in a wide range of colors, from white to black and everything in between. In the building and construction industry, polyvinyl chloride (PVC or vinyl) is a cost-effective and versatile thermoplastic polymer that is commonly used to create door and window profiles, pipelines (for drinking water and wastewater), wire and cable insulation, medical devices, etc.

North America Plastic Extrusion Market, By End-User

• Cable and Wire• Power Management• Refrigeration• Data Center

On the basis of End-User, the North America Plastic Extrusion Market has been segmented into Cable and Wire, Power Management, Refrigeration, and Data Center. Cable and Wire accounted for the largest market in 2021, and are projected to grow at a CAGR of 5.36% during the forecast period. Power Management was the second-largest market in 2021. Electrical system conductors are effectively insulated by plastic. Without plastic, it is impossible to run hot and neutral lines in the same conductor or wire. To deliver electricity to electrical equipment safely, a different method would need to be developed. This would be extremely difficult to perform and would cost a lot of money to do it safely. By aiding in effective heat conduction, plastic does a wonderful job of cutting prices, reducing electrical shock, and preventing fire. One of the most frequently made synthetic plastic polymers is polyvinyl chloride. Plasticizers are added to the polymer to make it softer, more flexible, and simpler to extrude in order to make PVC suitable for use in the insulation and jacketing of wire and cable. There is also a semi-rigid PVC (SRPVC) option if more flexibility is desired.

North America Plastic Extrusion Market, By Geography

• U.S• Canada• Mexico

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The North America Plastic Extrusion Market is segmented on the basis of geography into the U.S, Canada, and Mexico. As seen in the above figure, the U.S accounted for the largest market in 2021 and is projected to grow at a CAGR of 4.64% during the forecast period. Canada was the second-largest market in 2021. The US emerged as the largest region in 2021 amid a strong need for extruded plastics from major end-use industries like automotive, building and construction, and consumer goods. Rapid sector, urbanization, and economic growth in this region have resulted from polymer development of those end-use industries, which likely drive demand for extruded plastics during economic expansion. The high production and sales of light and fuel-efficient cars in North American countries like the USA is a crucial driver of the extruded plastics market in this region. Additionally, the use of plastic products in the medical business is because they’re lightweight, biocompatible, and cost-effective; further, the presence of a large medical base in the region is driving the expansion of the market.

Key Players

The major players in the market are LUBRIZOL CORPORATION (BERKSHIRE HATHAWAY), 3M, AEP Industries Inc. (Berry Plastics Group Inc), Pexco, Atlantis Plastics Inc., Crescent Plastics Incorporated, GSH Industries, Keller Plastics Inc., Lakeland Plastics, Petro Packaging Company, and others. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players.

Key Developments

• 3M is reinventing its Consumer Business Group’s goods and packaging to meet this new objective. The utilisation of recycled material and bio-based plastics, as well as designs that reduce overall plastic use, are examples of advancements. A great example of the advancements 3M is making is with its Scotch-Brite Greener Clean Non-Scratch Scrubbers, which are constructed of 75% post-consumer recycled plastic and housed in recyclable packaging made entirely of recycled material.

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market from various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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