Global Plastic Compounding Market Report Growth Likely to Increase During The Forecast Period 2020-2024
Plastic Compounding Market is expected to rise at a higher CAGR during the forecast period. To manufacture a plastic material of macromolecular substance, it should be loaded with antioxidants, lubricants, and fillers. Additives are used in order to enhance the mechanical, electrical & chemical properties of plastic to simplify the processing in order to enable its appearance and finish. Plastic compounding is therefore a procedure of adding such additives to the substance.
Plastic
compounding market is driven by modernization of plastic industry and has a
great potential for plastic compounding industry in the near future. Plastic
compounders are prominent contributors to the market growth. Increase in
medical device manufacturers and shift from metal to plastic for 3D printing
applications is supplementing the market growth during the forecast period.
Rise in construction expenditure and use of engineered plastics are steadily
growing in this sector. Therefore, construction applications are enlarging the
market landscape in near future.
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By
product, the plastic compounding market is segmented as thermoplastic polymers
and thermosetting polymers. Thermoplastic polymers are likely to grow at a
higher pace during the forecast period. Geographically, plastic compounding
market is segmented into North America, South America, Europe, Asia-Pacific,
Middle East and Africa. Asia-Pacific regions are expected to grow during the
forecast period owing to favorable economic conditions and rise of SMEs. China
is a major hub for production of end-use industries to consume plastic
compounds. Europe market is likely to witness moderate growth during the
forecast period due to debt crisis, slower industrial output and post-Brexit
crisis is likely to remain dominant in Europe.
U.S.
market retains the higher position owing to the rise in automotive and
construction sector. The key players profiled in the plastic compounding
industry report are A.Schulman, BASF, DuPont, The Dow Chemical Company,
LyondellBassell Industries, and SABIC.
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Plastic Compounding
Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2026)
• Polyethylene
• Automotive
•
Construction
• Electrical
& Electronics
• Packaging
• Others
• Polypropylene
• Automotive
• Electrical
& Electronics
• Consumer
Goods
• Industrial
Machinery
• Others
• TPV
• Automotive
• Industrial
Machinery (Fluid Handling)
• Consumer
Goods
• Medical
Devices
• Others
• TPO
• Automotive
• Industrial
Machinery
•
Construction
• Others
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