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

Published Date: July - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format

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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

The market's booming, mostly because energy distribution companies and power stations need more and more. Plus, North America's seeing a huge surge in city living as industries grow. People are moving from rural areas to cities and towns, chasing jobs and a better life. Think about itthe UN says that 55% of people worldwide lived in cities in 2018, and in the US and Canada, it's even higher—over 80%! That means more people using more power. On top of that, better plastic extrusion technologies are helping the North America Plastic Extrusion Market thrive. Business models are constantly changing to keep up with new tech, market shifts, and exciting innovations. We're keeping a close eye on start-ups all over the globe. Right now, everyone wants efficient extruders that meet all the local rules. Extruders are key for turning raw materials into usable profiles and are super important for non-stop, custom plastic production. New extrusion methods and tech are helping manufacturers get more out of their production lines.

The North America Plastic Extrusion Market isn't without its challenges. See, the market's growth is somewhat held back by the roller coaster that is raw material prices. We're talking about stuff like Polyvinyl chloride (PVC), Polyethylene (PE), Polypropylene (PP) – the usual suspects in plastic extrusion. And plastic, being a commodity, has prices that bounce around like crazy thanks to changing demand, supply chain hiccups, and other fun stuff. So, all that price volatility could really put a damper on market growth in the coming years. But hey, it's not all doom and gloom! There's a big demand for cables and wires across various industries, which is creating some sweet opportunities for growth. Think about itcables and wires are used everywhere – construction, infrastructure, transportation, you name it. This growing need could really open up new doors for the North American market down the line. Especially with construction booming in the United States and Canada! Just check out what the U.S. Census Bureau and the U.S. Department of Housing and Urban Development saidthey reported 1,449,000 completed housing constructions by April 2021, and another 1,569,000 units under construction. Plus, they revised the estimates for building permits in 2020 to a whopping 1,760,000 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

To Get Summarized Market Report By Material-

Let's talk materials! When it comes to plastic extrusion in North America, we're looking at a breakdown that includes Polyvinyl chloride (PVC), Polyethylene (PE), Polypropylene (PP), and a few Others. PVC really took the lead in 2021, and we're expecting it to keep growing at a rate of about 4.93% each year. PE came in second. Now, PVC is kind of a big deal globally because it's so adaptable. You'll find it just about everywhere – construction, transportation, even healthcare! It's a tough and durable material that can be used for all sorts of things, and it's available in tons of colors. In fact, in the construction world, polyvinyl chloride (or vinyl, as it's sometimes called) is a popular, cost-effective plastic for making things like door and window frames, pipes for water, wire insulation, and even medical equipment.

North America Plastic Extrusion Market, By End-User

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

When we look at who's actually using these plastic extrusions in North America, we see the market broken down into areas like Cable and Wire, Power Management, Refrigeration, and Data Centers. In 2021, Cable and Wire was the biggest piece of the pie, and it's expected to keep growing at a pretty good pace – around 5.36% each year. Power Management was the next biggest. Think about itplastic is crucial for insulating electrical wires. You simply can't run hot and neutral wires together safely without it. Imagine trying to get electricity to your appliances without plastic – we'd need a totally different, likely super expensive, system. Plus, plastic helps conduct heat effectively, which means lower costs, fewer shocks, and less risk of fire. A common choice is polyvinyl chloride, or PVC. By adding things called plasticizers, we can make it soft and flexible enough to be used for wire and cable insulation and jacketing. And if you need something even more flexible, there's always semi-rigid PVC, or SRPVC.

North America Plastic Extrusion Market, By Geography

• U.S• Canada• Mexico

To Get Summarized Market Report By Geography- 

Okay, so the North America Plastic Extrusion Market is broken down geographically into three main areasthe U.S., Canada, and Mexico. Like the figure up there shows, the U.S. was the biggest market in 2021 and is expected to keep growing, with a CAGR of around 4.64% over the next few years. Canada came in second that year. Why was the US so big in 2021? Well, there's a big demand for extruded plastics from industries like cars, construction, and general consumer goods. Those industries are booming thanks to fast growth, urbanization, and a good economy, especially with new polymers coming out all the time. Plus, everyone wants lighter, more fuel-efficient cars, which is a big deal for extruded plastics. And don't forget medicine! Plastic is used everywhere in the medical field because it’s light, works well with the body, and doesn’t cost a fortune. Since there’s a lot of medical activity in the region, that's really helping the market grow too.

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.

Report Scope

REPORT ATTRIBUTESDETAILS
STUDY PERIOD

2018-2030

BASE YEAR

2021

FORECAST PERIOD

2023-2030

HISTORICAL PERIOD

2018-2020

UNIT

Value (USD Million)

KEY COMPANIES PROFILED

LUBRIZOL CORPORATION (BERKSHIRE HATHAWAY), 3M, AEP Industries Inc. (Berry Plastics Group Inc), Pexco, Atlantis Plastics Inc., Crescent Plastics Incorporated, & Others

SEGMENTS COVERED

Material, End-User, and Geography.

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