The “Plastic Compounding Market” 2023-2031 Research Report affords qualitative and quantitative insights into the principal drivers, constraints, opportunities, and challenges influencing world markets growth. The find out about offers complete statistical market records on the leading players, as nicely as income predictions. This market lookup additionally presents statistics on the income boom of numerous regional and country-level markets, as properly as the opposition panorama and unique organization analyses for the projected period. The Plastic Compounding Market Report covers potential improvement drivers as properly as the modern-day kingdom of market share, penetration of a number of kinds, technologies, applications, and areas thru 2031.
The global plastic compounding market size was US$ 642,738.7 million in 2021. The global plastic compounding market is forecast to grow to US$ 932,575.9 million by 2030 by registering a compound annual growth rate (CAGR) of 6.4% during the forecast period from 2022 to 2030.
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Plastic compounding is the process of combining plastics and additives to alter the properties of basic plastics. Plastic compounds are light and have outstanding physical properties. They are widely used in the electronic and automotive industries, mainly for applications in electromagnetic shielding and antistatic.
Factors Influencing the Market
The growing manufacturing capacity of lightweight vehicles is expected to surge the demand for plastic compounding. Plastic composites are becoming more vital in the automobile industry. Moreover, vehicles made of plastic composites are lighter and more rigid. It will increase the demand for plastic compounding in the automobile industry. Furthermore, the introduction of new efficient car models with advanced features and broader applicability is expected to boost composites production for automotive applications during the study period.
Plastic compounding is forecast to gain impetus due to environmental restrictions in Europe and the United States for low CO2 emissions.
The growing cost of plastic compounds may impede the growth of the plastic compounding market during the study period.
Growing advancements in plastic compounding, such as also the development of plastics with nanotechnology and composite technology, will offer lucrative growth opportunities for the market players during the forecast period.
COVID-19 Impact Analysis
The wake of the COVID-19 pandemic has created a backdrop in the entire automotive industry, which also impacted the demand for plastic compounding. The market witnessed various challenges related to supply chain obstructions, unavailability of raw material, etc. Various automotive production units were closed as a result of the pandemic. Thus, it also affected the global plastic compounding market.
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Regional Analysis
On the basis of Region, Europe is expected to dominate the global plastic compounding market by holding the highest market share. Countries such as Germany, the UK, France, and Russia, are expected to be the major contributors as the builders, architects, and service consultants are looking for new efficient elements to construct a building. As a result, it will open a new doors of possibilities for the global plastic compounding market.
In addition, the packaging and automotive industries are gaining substantial traction across Europe. The growing investment in these industries will benefit the plastic compounding market during the forecast period.
Market Segmentation
The global plastic compounding market segmentation focuses on Polymer, End-Use, and Region.
By Polymer Type Outlook
- Polypropylene (PP)
- Polyethylene (PE)
- Polyvinyl Chloride (PVC)
- Polystyrene (PS) & Expanded Polystyrene (EPS)
- Polyethylene Terephthalate (PET)
- Polyurethane (PU)
- Acrylonitrile Butadiene Styrene (ABS)
- Others
By End-Use Outlook
- Automotive
- Building & Construction
- Electrical & Electronics
- Medical
- Packaging
- Others
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By Regional Outlook
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
Competitors in the Market,Asahi Kasei Corporation, BASF SE, Celanese Corporation, COVESTRO AG, Dow Du Pont INC., Kingfa Sci. and Tech. Co., Ltd., Lyondell Basell Industries Holdings B.V., Polyone Corporation, SABIC, Solvay SA, Other Prominent Players
What factors are taken into consideration when assessing the key market players?
- The report analyzes companies across the globe in detail.
- The report provides an overview of major vendors in the market, including key players.
- Reports include information about each manufacturer, such as profiles, revenue, product pricing, and other pertinent information about the manufactured products.
- This report includes a comparison of market competitors and a discussion of the standpoints of the major players.
- Market reports provide information regarding recent developments, mergers, and acquisitions involving key players.
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