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$ 65.4 billion in 2020. The global plastic compounding market is forecast to grow to US$ 108.11 billion by 2030, registering a compound annual growth rate (CAGR) of 5.9% over the forecast period from 2022 to 2030.
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Plastic compounding is a process of combining various materials, such as polymers and additives. The plastic compounding process also includes other tasks such as determining additives ratio, melt mixing, high-speed mixing through twin-screw extruders, and cooling.
Factors Influencing the Market Growth
The increasing demand for plastics in various industries is forecast to fuel the growth of the plastic compounding market during the study period. Plastic compounding enables easy molding. In addition, plastics have the ability to be molded into any shape. Thus, the global plastic compounding market will grow significantly.
The increasing demand for floorings, doors, pipes, insulation materials, storage tanks, performance safety windows, and cables is forecast to fuel the demand for plastic compounding in the construction and building industry. In addition, growing infrastructural development in emerging economies is forecast to benefit the global plastic compounding market during the study period.
Increasing consumer awareness regarding attractive interiors is forecast to offer ample growth opportunities for the market players. In addition, growing industrialization and rising disposable income will accelerate the growth of the global plastic compounding market during the study period from 2022 to 2030.
The growing prices of raw materials may hamper the growth of the market during the study period.
COVID-19 Impact Analysis
The COVID-19 pandemic has significantly impacted manufacturing activities during the initial phase. In addition, China, which is the leading exporter of the global market, witnessed immediate disruption in manufacturing. The government of the country had to impose strict lockdown regulations, which hampered the overall market growth. In addition, the pandemic has affected the majority of the nation worldwide.
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Regional Analysis
The Asia Pacific holds the largest share in the global plastic compounding market. The regional market is forecast to develop, owing to the growing manufacturing segment. In addition, rising demand for plastic compounding in automotive, industrial machinery, construction, packaging, and electrical & electronics sectors of the region are forecast to boost the market growth. In addition, China plays a prominent role in the growth of the regional market. It is attributed to the presence of prominent manufacturing companies in the country. In addition, the automotive sector of the country is growing rapidly. Thus, it will offer ample growth opportunities for the market players during the study period.
Competitors in the Market
- BASF SE
- LyondellBasell Industries N.V.
- Dow, Inc.
- DuPont
- RTP Company, Inc.
- S&E Specialty Polymers, LLC
- Covestro AG
- Kraton Polymers, Inc.
- Other prominent players
Market Segmentation
The global plastic compounding market segmentation focuses on Product, Application, and Region.
By Product
- PE
- PP
- TPV
- TPO
- PVC
- PS
- PET
- PBT
- PA
- PC
- ABS
By Application
- Automotive
- Building & Construction
- Electrical & Electronics
- Packaging
- Consumer Goods
- Industrial Machinery
- Medical Devices
- Optical Media
- Others
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By Region
- 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
Key questions answered in the Shape Memory Alloy report are:
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- What are the leading competitors in the global market?
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