COVID-19 IMPACT ANALYSIS ON GLOBAL EXTRUSION AND COMPOUNDING MACHINE MARKETS
The exclusive COVID-19 impact analysis report by Axiom MRC provides a 360 degree analysis of micro and macro-economic factors on the global extrusion and compounding machine market. In addition, owing to the several stringent rules and regulation by the government such as lockdown and shutdown most of the chemical, rubber, metal, pharmaceutical, and food companies and production facilities were closed to avoid the spread of the coronavirus, which is impacted negatively on these industries and thereby on the global extruders and compounding machines market. In addition, in the midst of an increasing number of COVID-19 cases in several countries and widely changing measures to prevent spread of the virus, the outlook for both economy and the industry as a whole remains highly uncertain.
Extruders & Compounding Machines Market - Overview
Extruders and compounding machines are industrial machines used in the manufacturing procedure for producing products with specific profile and shape. These machines are used to blend or mix different materials for completing specific compound while as an extruder used to shape material by forcing it through a specially designed or a die opening. Extruders and compounding machines have become standard machinery in manufacturing industries such as plastics and food, for the mass production of products. In the last few years, as the industries like pharmaceutical, food and beverages, chemicals are growing rapidly, the demand for extruders and compounding machines is growing rapidly.
Furthermore, in compounding, several materials are mixed and melted usually in some type of extruder then pelletized. This pelletized material is then processed into a semi-finished or finished part by either extrusion or molding. Most compounding is done on twin-screw extruders generally of counter-rotating or co-rotating design. Other forms of machines, such as single-screw extruders and ram extruders, can also use to compound materials. Extruders and compounding machines are used in numerous industries like, plastics, rubber, food, coal, gypsum, minerals, chemical powders, and many others.
Market Drivers
The extruders & compounding machines market is witnessing tremendous growth during the forecast period 2022-2028. The key factors contributing to the growth of global extruders & compounding machines is the increasing significance of extruders and compounding in pharmaceutical industry, since single and twin-screw extrusion used as standard in plastic compounding in the pharmaceutical industry. Moreover, these machines are widely used to mix active pharmaceutical ingredients with additives and polymers that aid as binders. The twin-screw extrusion is used as a continuous mixer to make a consistent, high-quality drug-delivery dosage form, including tablets, wound care, implantable devices, and many other products and its applications range from controlled-release systems to oral bioavailability. Also, as the pharmaceutical industry is growing in the countries like China and India after the COVID pandemic, the demand for extruders & compounding machines is growing rapidly.
Market Opportunities
In the last few years, the food & beverage industry is growing at a rapid pace, and the food processing industry is growing at rapid pace and demand for food items like cereals, noodles & pastas, snacks, frozen food, baby food, and other extruded products are increasing rapidly across the globe. Moreover, changing consumer lifestyles and consumption patterns, increase in the need for convenience in foods, rise in the demand for healthy snacks, technological advancements in food extrusion & processing, and initiatives to flourish the demand for processed and extruded food is expected to create an opportunity for the extruder and compounding machines market to grow further. Moreover, as the pet adoption has been increased in the developing country, the demand for extruded pet food is also increasing in the last few years which creates a great platform for the extruder and compounding machines market to grow further.
Market Restraints
The extruder and compounding machines market is growing at a rapid pace, but still one of the major reasons which hinders the growth of this market is the high initial and maintenance cost which restrains the growth of the extruder and compounding machines market. In the last few years, manufacturing industry is growing rapidly in the developing countries, and industries like chemical, plastic, pharmaceutical etc. are growing rapidly where the utility of the extruder and compounding machines is increasing rapidly. However, the extruder and compounding machines require heavy finance for installation and maintenance of the extruder and compounding machines, due to which, it becomes very difficult for the small manufacturers to install the extruder and compounding machines which hampers the growth of extruder and compounding machines market.
Market Growth Challenges
The key challenge which the extruder and compounding machines market is facing is the restriction on the use of plastic in various parts of globe. As the environmental awareness is increasing rapidly across the globe, the use of plastic in the packaging industry is reducing due to which the use of extruder and compounding machines has been reduced which is a major challenge for the extruder and compounding machines market. However, in many of the industries, plastic is still one of the major packaging components and has a great utility for the extruder and compounding machines.
Cumulative Growth Analysis
The report provides in-depth analysis of global extruder and compounding machines market, market size, and compound annual growth rate (CAGR) for the forecast period of 2022-2028, considering 2021 as the base year. Growing pharmaceutical industry is driving the market and is expected to witness the growth at a specific CAGR from 2022-2028.
Extruder and Compounding Machines - Segmental Overview
The extruder and compounding machines market is bifurcated into type, application, end-users industry and geography.
Extruder and Compounding Machines Market by Type
By type, the extruder & compounding machines market includes key segment of
- Single Screw
- Twin Screw
- Ram Extruders
- Co-rotating
- Counter rotating
Extruders and compounding machines are industrial equipment used in the manufacturing process, for producing product in the shape and profile. Compounding machine is used to mix a polymer matrix with different additives to achieve a specific material behaviour. The market has been dominated by the twin screw extruder, which is highly used for used for the plastic extrusion process. It is highly preferred in the market for its extruder owing to its feeding performance, mixing and plasticizing performance, exhaust performance and, extrusion stability, it is used in extruded products and forming processing. Also, single screw extrusion and compounding machine holds significant share in the market.
Extrusion and Compounding Machine Market by Application
By Application, the study of extruder & compounding machines market covers
- Specialty Plastics
- Master batch production
- Flooring Sheet
- PVC Cable
- Others
The speciality plastics segment is likely to dominate the global extruders and compounding machines market. The rapidly rising demand for plastics in myriad applications, surging adoption in plastic product manufacturing industries and rising need food packaging industry is driving the market. In addition, increasing production of plastic in developing economies and use of plastic products in variety of industries is further boosting the market growth. Moreover, growing food & beverages industry is likely to create a great demand for the extrusion and compounding machines on a global level.
Extrusion and Compounding Machine Market by End-User Industry
The global extrusion and compounding machine market studied for end-user industry include,
- Plastic
- Pharmaceutical
- Food
- Chemical
- Others
Plastic end use industry accounted for the largest market share 52% in 2021, the increasing demand from the plastic packaging industry owing to the evolution of the consumer products and food and beverage segment around the world. In addition, rising production of plastic packaging products is also making more demand for extruders and compounding machines in the plastic industry. Moreover, growing food and beverages industry is also helping the market to grow further, in this industry hot melt extrusion is widely used, this which comprises of mixing, cooking, kneading, and shaping mixed ingredients as they are forced through an opening called a die that has been specifically designed for food items.
Extrusion and Compounding Machine Market by Geography
The report analyses various geographical regions such as
- North America
- Europe
- Asia Pacific
- Rest of the World
Based on Geography, Asia-Pacific dominated the market for extrusion and compounding machine market, in this region, China is considered to be the major country, since this country is one of the largest producers of the chemicals, and plastics across the globe, which makes it a suitable market for the extruders and compounding machines. Moreover, North America region has been a major market for the extruders and compounding, in this region, US is the major producers of the chemicals, and plastic and also has a significance presence of pharmaceutical industry in the country which is driving the market.
Extrusion and Compounding Machine Market- Competitive Landscape Analysis
The extrusion and compounding machine is witnessing high competition owing to presence of many major players in the market. The key companies operating in the extrusion and compounding machine market are catering to the demand by collaborating, innovative, acquiring small players and investing in a technologically advanced product portfolio across the globe.
The key players studied in market are
- Toshiba Machine Co.Ltd. (Japan)
- The Japan Steel Works Ltd. (Japan)
- Coperion GmbH (Germany)
- Battenfeld-Cincinnati(Germany)
- NFM Welding Engineers Inc. (United States)
- Clextral S.A.S. ( France)
- KraussMaffei Berstorff GmbH (Germany)
- Leistritz AG (Germany)
- Davis-Standard LLC (United States)
- Theysohn Extrusionstechnik GmbH ( Germany)
- Everplast Machinery Co.Ltd (Taiwan)
- USEON (Nanjing)
- Extrusion Machinery Co.,Ltd. (China)
- Breyer GmbH (Germany)
- BOCO PARDUBICE machines
- S.R.O.( Europe)
- Clarion Engineers & Tech LLP (India)
Recent Developments
March 2022: The two co-extrusion solutions provided by Battenfeld-cincinnati in 2019 were so well received by the modern Polish system manufacturer of door and window profiles that they immediately placed repeat orders for several more. Decco SA, based in Suwalki, North-eastern Poland, expanded its production equipment to a total of 20 lines with the space-saving piggyback models consisting of main extruders and co-extruders. The last models from this year's large order are currently being installed by the Austrian extruder specialist Battenfeld-cincinnati.
December 2021: The SAT175 twin screw extruder manufactured in USEON's Zhenjiang factory is loaded for delivery to the client. The screw diameter on this extruder is 175mm, with a motor power of 1120Kw and a total weight of up to 45 Tons. The extruder is used in the production of BOPET film.
December 2021: Davis-Standard introduced the CHP, a new compact extruder designed for extrusion coating applications. The machine's sleek design allows for a smaller footprint and lighter weight, making it easier to integrate into an existing carriage or platform structure. This allows processors to increase outputs and line speed by using a space-saving replacement or co-extrusion addition.
