CHICAGO, Aug. 10, 2022 /PRNewswire/ — Global Plastic Compounding Market study by “Data Bridge Market Research” provides details about the market dynamics affecting this market, Market scope, Market segmentation and overlays shadow upon the leading market players highlighting the favourable competitive landscape and trends prevailing over the years. Plastic Compounding Market research report execution is becoming very vital for the businesses to gain success because it offers many benefits including insights into revenue growth and sustainability initiative. The large scale Plastic Compounding Market research report is an absolute overview of the market that takes into account various aspects of product definition, market segmentation based on various parameters, and the established merchant landscape. This industry report also offers businesses with the company profile, product specifications, production value, manufacturer’s contact information and market shares for company. Moreover, Plastic Compounding Market business report blends together all-inclusive industry analysis with particular estimates and forecasts to provide complete research solutions with greatest clarity for strategic decision making.
Due to the potential of Porter’s Five Forces analysis in generating market research report, they are preferred by the businesses and hence also used while making an excellent Plastic Compounding Market report. Market drivers and market restraints explained in this report provides idea about the rise or fall in the consumer demand for the particular product depending on several factors. In addition, this market report also gives top to bottom assessment of the market with respect to income and developing business sector. Thus, the world class Plastic Compounding Market report endows with in-depth market analysis to thrive in this competitive environment.
The global plastic compounding market is expected to gain significant growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses that the market is growing with a CAGR of 4.8% in the forecast period of 2022 to 2029.
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Plastic compounds are widely used in the electronic and electrical industries for electromagnetic shielding and antistatic applications. In addition, they are replacing metal components in the automotive industry. This has helped in increasing car safety by reducing the total weight of the vehicle. Plastic compounding has also lowered the carbon emissions and increased fuel efficiency and performance of vehicles in the automotive industry, which in turn boosts the growth of the plastics compounding market.
The increasing demand for plastic compounding in infrastructure development is an important driver for the global plastic compounding market. Physical properties of plastic compounds and shifting preference toward the adoption of lightweight materials for the production of automobile parts are expected to propel the growth of the global plastic compounding market.
Some of the prominent participants operating in the global plastic compounding market are
- BASF SE
- KURARAY CO., LTD.
- Adell Plastic Inc.
- Asahi Kasei Corporation
- RTP Company
- Ravago, LyondellBasell Industries Holdings B.V (A Subsidiary of LyondellBasell)
- KRATON CORPORATION. (A Subsidiary of DL Chemical Co., Ltd.)
- PolyVisions, Akro-Plastic GmbH
- Aurora Plastics LLC, Exxon Mobil Corporation
- Sojitz Corporation
- Celanese Corporation
- HEXPOL AB, Covestro AG
- LG Chem
Key Opportunities For Leading Manufacturers
- Shift in preference for bio-based and recycled plastics
Bio-based plastics are plastics manufactured from bio-based polymers, which contribute to more sustainable commercial plastic life cycles as part of a circular economy, in which virgin polymers are made from renewable or recycled raw materials. Carbon-neutral energy is used to produce these plastics, and the products are reused or recycled at their end of life (EOL). Bio-based plastics have a lower carbon footprint and exhibit advantageous material properties compared with fossil-based plastic compounds. Moreover, they are also compatible with existing recycling streams, and some offer biodegradation in controlled or predictable environments.
- Ongoing development in catalyst technologies to increase the performance and yield of resins
Some catalysts can increase resin yield and, at the same time, increase quality issues and offer subpar product performance. Therefore, continuously improving polymerization catalyst technologies will enhance the performance, customization, and yield of polyethylene and other polymer resins, which will provide a lucrative opportunity for the key players to increase their production and offer superior products in the market.
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In May 2022, BASF SE launched its Ultradur B4335G3 HR HSP, which is an all-rounder for reliable protection. The PBT in this material offers a unique combination of different properties such as outstanding hydrolysis resistance and good flow ability and ensures safety for sensitive electronics in extremely challenging environments.
Plastic Compounding Market Dynamics
- Increase in demand for plastic compounding in infrastructure development
The growing number of residential and commercial projects in developing countries is boosting infrastructural development as consumer awareness regarding attractive interiors increases, increasing the demand for these materials in interior design. The booming construction industry is anticipated to complement the plastic compounding market. PVC and CPVC play an important role in the sustainable management of this sector through various products like pipes, wires & cables, waterproofing membranes, and wood PVC composites. Most developing countries, such as Mexico, India, and others, are expected to benefit from the rising construction spending and inclination of consumers toward utilizing sustainable and lightweight building materials in place of conventional materials such as metals and alloys.
- Growing advantages and superior physical properties of plastic compounds
Some plastic products benefit from compounding to prohibit germs’ growth on their surface. These plastic additives are mostly used in the production of medical products, and this plastic can also be compounded to add extra protection against UV rays that often lead to degradation of the material. All these advantages offered by compounded plastics have spurred their demand from different end-users and industries, which will boost its growth in the global plastic compounding market.
- Shift in preference toward the adoption of lightweight materials for the production of automobile parts
Regulatory intervention by various governments across the globe to reduce gross vehicle weight and improve fuel efficiency, which will reduce carbon emissions, has driven automotive OEMs and spare parts manufacturers to adopt plastics as the substitute for metals such as steel and aluminum for fabricating automotive components. With growing thermoplastic and thermosets demand in automotive component fabrication, plastic compounding is expected to gain prominence due to increasing quality and material specification requirements from automotive OEMs.
- Multiple and varied applications scope of plastic compounding
Apart from these applications, various compounded plastic such as PVC is commonly used to insulate electrical wiring, while thermosets are commonly used for switches, light fittings, and handles to withstand high temperatures and heat. Plastics are ideal for housings for items like hairdryers, electric razors, and food mixers because they protect the user from electric shock. Thus the increasing use and wide application scope in various industries like electronics and appliances, packaging, and construction are expected to drive the growth of the global plastic compounding market.
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Segmentation and Market Scope
The global plastic compounding market is categorized based on product type, source, additive type, manufacturing process, and application. The growth amongst these segments will help you analyze major growth segments in the industries and provide the users with a valuable market overview and market insights to make strategic decisions to identify core market applications.
- Polyethylene (PE)
- Polypropylene (PP)
- Poly Vinyl Chloride
- Polyethylene Terephthalate (PET)
- Thermoplastic Vulcanizates
- Thermoplastic Polyolefins
- Polyamide (PA)
- Poly-Butylene Terephthalate (PBT)
- Acrylonitrile Butadiene Styrene
- UV Stabilizers
- Blowing Agents
- Reinforcement Agents
- Anti-Foaming Agents
- Oxygen Scavengers
- Injection Molding
- Building & Construction
- Electrical & Electronics
- Consumer Goods
- Industrial Machinery
- Optical Media
Global Plastic Compounding Market Regional Analysis/Insights
Some of the countries in the global plastic compounding market are the U.S., Canada, Mexico, Russia, U.K., Belgium, Germany, Italy, France, Spain, Netherlands, Turkey, Luxembourg, Switzerland, and the Rest of Europe, China, India, Indonesia, Malaysia, Thailand, Japan, South Korea, Philippines, Singapore, Australia & New Zealand, and Rest of Asia-Pacific, Saudi Arabia, United Arab Emirates, South Africa, Egypt, Israel and Rest of the Middle East and Africa.
China is expected to dominate in the Asia-Pacific due to increasing different packaging solutions with metallic films in the region. The U.S. is expected to dominate in the North American region due to the multiple and varied applications scope of plastic compounding in the region. Germany is anticipated to dominate the Europe plastic compounding market because of the large manufacturing base and has huge consumption of plastic as compared to other regions, which helps to boost the demand for plastic compounding in the region.
Major Points Covered in TOC:
Plastic Compounding Market Overview: It incorporates six sections, research scope, significant makers covered, market fragments by type, Plastic Compounding market portions by application, study goals, and years considered.
Plastic Compounding Market Landscape: Here, the opposition in the Worldwide Plastic Compounding Market is dissected, by value, income, deals, and piece of the pie by organization, market rate, cutthroat circumstances Landscape, and most recent patterns, consolidation, development, obtaining, and portions of the overall industry of top organizations.
Plastic Compounding Profiles of Manufacturers: Here, driving players of the worldwide Plastic Compounding market are considered dependent on deals region, key items, net edge, income, cost, and creation.
Plastic Compounding Market Status and Outlook by Region: In this segment, the report examines about net edge, deals, income, and creation, portion of the overall industry, CAGR, and market size by locale. Here, the worldwide Plastic Compounding Market is profoundly examined based on areas and nations like North America, Europe, China, India, Japan, and the MEA.
Plastic Compounding Application or End User: This segment of the exploration study shows how extraordinary end-client/application sections add to the worldwide Plastic Compounding Market.
Plastic Compounding Market Forecast: Production Side: In this piece of the report, the creators have zeroed in on creation and creation esteem conjecture, key makers gauge, and creation and creation esteem estimate by type.
Plastic Compounding Research Findings and Conclusion: This is one of the last segments of the report where the discoveries of the investigators and the finish of the exploration study are given.
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- Automotive Plastic Compounding Market, By Product Type (Acrylonitrile Butadiene Styrene (ABS), Polypropylene (PP), Polyurethane (PU), Polyvinyl Chloride (PVC), Polyethylene (PE), Others), Application (Instrument Panels, Powertrain, Door Systems, Interior Components, Exterior Fascia, Under the Hood Components, Others) https://www.databridgemarketresearch.com/reports/global-automotive-plastic-compounding-market
- Europe Plastic Compounding Market, By Product Type (Polyethylene (PE), Polypropylene (PP), Thermoplastic Vulcanizates, Thermoplastic Polyolefins, Poly Vinyl Chloride, Polystyrene, Polyethylene Terephthalate (PET), Poly-Butylene Terephthalate (PBT), Polyamide (PA), Polycarbonate, Acrylonitrile Butadiene Styrene, and Others), Source (Fossil-Based, Bio-Based, and Recycled), Additive Type (Fillers, Anti-Oxidants, Colorants, UV Stabilizers, Reinforcement Agents, Flame-Retardants, Anti-Foaming Agents, Oxygen Scavengers, Blowing Agents, and Others) https://www.databridgemarketresearch.com/reports/europe-plastic-compounding-market
- Asia-Pacific Plastic Compounding Market, By Product Type (Polyethylene (PE), Polypropylene (PP), Thermoplastic Vulcanizates, Thermoplastic Polyolefins, Poly Vinyl Chloride, Polystyrene, Polyethylene Terephthalate (PET), Poly-Butylene Terephthalate (PBT), Polyamide (PA), Polycarbonate, Acrylonitrile Butadiene Styrene, and Others), Source (Fossil-Based, Bio-Based, and Recycled), Additive Type (Fillers, Anti-Oxidants, Colorants, UV Stabilizers, Reinforcement Agents, Flame-Retardants, Anti-Foaming Agents, Oxygen Scavengers, Blowing Agents, and Others), Manufacturing Process (Injection Molding, Extrusion, and Others), Application (Automotive, Building & Construction, Packaging, Electrical & Electronics, Medical, Optical Media, Consumer Goods, Industrial Machinery, Textiles, and Others) Industry Trends and Forecast to 2029 https://www.databridgemarketresearch.com/reports/asia-pacific-plastic-compounding-market
- North America Compounding Market, By Product Type (Polyethylene (PE), Polypropylene (PP), Thermoplastic Vulcanizates, Thermoplastic Polyolefins, Poly Vinyl Chloride, Polystyrene, Polyethylene Terephthalate (PET), Poly-Butylene Terephthalate (PBT), Polyamide (PA), Polycarbonate, Acrylonitrile Butadiene Styrene, and Others), Source (Fossil-Based, Bio-Based, and Recycled), Additive Type (Fillers, Anti-Oxidants, Colorants, UV Stabilizers, Reinforcement Agents, Flame-Retardants, Anti-Foaming Agents, Oxygen Scavengers, Blowing Agents, and Others), Manufacturing Process (Injection Molding, Extrusion, and Others), Application (Automotive, Building & Construction, Packaging, Electrical & Electronics, Medical, Optical Media, Consumer Goods, Industrial Machinery, Textiles, and Others) Industry Trends and Forecast to 2029 https://www.databridgemarketresearch.com/reports/north-america-plastic-compounding-market
- PET Compounding Market, By Application (Packaging, Electrical & Electronics, Industrial Machinery, Automotive, Construction, Material Handling) https://www.databridgemarketresearch.com/reports/global-pet-compounding-market
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