Global Plastic Compounding Market-Global Industry Analysis and Forecast (2020-2027)

Global Plastic Compounding market was valued US$ 59.10 Bn. in 2019 and is expected to grow at CAGR of 6.5 %, to reach US$ XX Bn. during the forecast period of 2020 to 2027.

Global Plastic Compounding Market

The report study has analyzed the revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and the same is reflected in our analysis.

Market Definition:

Plastic Compounding is the process of formulating Plastic product by mixing/blending polymers with certain additives in a molten state to change its physical, thermal and aesthetic characteristic of engineered thermoplastics. Compounding of plastics helps to converts plastic to the desired form that is more effective, uniform, and usable.

Geographically, Asia Pacific region is accounted for a leading share of 40% in 2019 and expected to grow due to growing consumption & unique compounded products will help this market to grow. Global Plastic Compounding market is projected to reach US$ X.X0 Bn and is expected to reach US$ X.X Bn by 2027, at a CAGR of X.X % during a forecast period. Prominent key players involved in the production of Plastic compounding product are Solvay SA, BASF SE, Dow Chemical Company and Kraton Corporation, involved in the supply Plastic Compounding product to encounter the demand of the market.

Market Dynamics:

The report offers a brief analysis of worldwide plastic compounding Market in terms of revenue from various segments and detailed evaluation of the trends, opportunities, challenges and stakeholders playing a substantial role in the market.

Growing product penetration & Booming Consumer demand in electrical & electronics, automotive, and construction industry owing to its superior characteristics such as flame retardancy, lightweight and a wide range of conductivity are some of the growth drivers for Plastic Compounding Market. Use of compounded plastics specifically in the construction sector for safety windows, doors, insulation materials, cables and storage tanks offer a positive opportunity for the industry growth. For instance, the U.S. spending on construction is growing significantly and is expected to reach US XX Bn by 2027 from US$ XX Bn in 2019. Over the last decades, there has been an upsurge demand for electrical devices across the globe owing to advancements in the technology with investment in R&D, henceforth boosting the demand for Plastic Compounding materials.

Global Plastic Compounding Market: Market Segmentation

The report covers competitive analysis of the Plastic Compounding Market in each of the geographical segments thereby providing insight into a market share at the macro as well as micro levels.

Automotive & Transportation Segment is projected to have Highest Share for Compounded Plastics

Based on application, the automotive held the largest market over 25 % is expected to grow at CAGR of XX% in forecast period. The growth is attributed the growing importance of compounded plastics as an alternative to traditional alloys & metals in the automotive industry. India, China, and Brazil are the central hub and offer productive growth for large production.

Polypropylene (PP) in terms of Product Type is projected to have largest Share for Compounded Plastics

Based on Product Type, the polypropylene (PP) is estimated to show continuous growth of CAGR of XX% during the forecast period 2019- 2027. Polypropylene (PP) is thermoplastic polymer resin valuable in various industrial, commercial, Medical, fashion and Housewares application. It is widely used in the automotive sector due to light-weight, lower carbon emissions, high performances and fuel efficiency of the vehicles are predicted to reinforce the demand for those wires globally. In 2019, the polymer market was registered to be US$ XX Bn and expected to grow by healthy value in the upcoming forecast.

Global Plastic Compounding Market1

Global Plastic Compounding Market: Geographical Analysis

Asia Pacific is the dominant market with a market share of US$ XXX Bn in 2019 and is expected to maintain its dominance reaching US$ XX.X Bn by 2027, with a CAGR of X.X%. Rapid industrialization and presence of dominant industries such as the automotive, and electrical & electronics in the region offer substantial potential for plastic compounding market. APAC is the central hub for production and a major consumer of plastic compounding product. China is likely to dominate the Asia Pacific region by the expansion of the Automotive and Electrical & Electronics industries in the country. Annually, plastic compounding production in China was estimated to be XX.X tones in 2019 and is forecasted to grow at CARG of XX % in the upcoming forecast.

On the contrary, Europe with a share of XX% is witnessing substantial growth due to the presence of automobile industries but to remain a saturated market due to stringent environmental regulations by various federal agencies such as the European Chemicals Agency (ECHA).

Competitive Analysis: Global Plastic Compounding Market

The report includes detailed analysis of leading manufacturers, prominent vendors and upcoming trends & challenges that will influence market growth. Further, the adoption of variant strategic business activities such as acquisitions, mergers, collaboration.

The objective of the report is to present a comprehensive analysis of the Global Plastic Compounding Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

Industry News-

In May 2019, BASF SE, headquartered in Germany, the second-largest chemical producer in the worldwide proclaimed the enlargement of its compounding plant established in Mexico, Altamira. The relocation help to increase the production size up to about 15,000 tons annually. Lately, the company offers local production of Ultradur® (PBT: polybutylene terephthalate) and Ultramid® (PA: polyamide) product lines. This advancement allows BASF to reach the ever-increasing demand for engineering plastics in Mexico.

Some of the Key Recent Developments& Acquisition:

• In January 2019, Celanese Inc, based in Irving, a technology specialty materials company, came in acquisition with Next Polymers Ltd., headquartered in Mumbai. According to the company administrators, the acquisition will bring Celanese in the optimum position in India’s engineering thermoplastics (ETP) market by extending its ability to give the users with engineered plastics and nylon.

• In September 2019, chemical company Lanxess Aktiengesellschaft, based in Germany, introduced its new innovative plastic plant in China. The plant will produce Durethan- and Pocan- high-quality branded plastics, chiefly for the electrical and electronic commerce, as well as the automotive industry.

• In February 2018, a multinational chemical company LyondellBasell Industries N.V., headquartered in the Netherlands, collaborated with an American A. Schulman, Inc., based in the U.S, supplier of plastic compounding products. The total agreement was worth US$ 2.25 Bn. it would help the former in widening its geographic presence.

The report also helps in understanding Global Plastic Compounding Market dynamics, structure by analyzing the market segments and projects the Global Plastic Compounding Market size. Clear representation of competitive analysis of key players By Pathogen Type, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Plastic Compounding Market make the report investor’s guide.

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Scope of the Global Plastic Compounding Market:

Global Plastic Compounding Market, By Product Type

• Polypropylene (PP)
• Polyurethane
• Polyvinyl Chloride (PVC)
• Acrylonitrile Butadiene Styrene (ABS)
• Polyethylene Terephthalate (PET)
• Polyethylene (PE)
• Polystyrene (PS) & Expanded Polystyrene (EPS)
• Other Polymers
Global Plastic Compounding Market, By Application

• Automotive
• Building & Construction
• Electrical & Electronics
• Medical
• Packaging
• Others
Global Plastic Compounding Market, By Region

• North America
• Europe
• Asia Pacific
• The Middle East and Africa
• Latin America
Global Plastic Compounding Market, key Players

• LANXESS A.G.
• BASF SE
• PolyVisions
• Asahi Kasei Corporation
• Aurora Plastics LLC
• Foster Corporation
• SABIC
• LyondellBasell
• Kingfa SCI. & TECH. CO., LTD.
• DuPont
• Celanese Corporation
• RTP Company
• Solvay S.A.
• KURARAY CO., LTD.
• Kraton Corporation
• Covestro AG
• Kraton Corporation
• MRC Polymers
• Adell Plastics
• Sojitz Corporation

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