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Plastic Compounding Market
Data Bridge Market Research analyses that the market is growing with a CAGR of 4.8% in the forecast period of 2022 to 2029.
PUNE, MAHARASHTRA, INDIA, August 17, 2022 /EINPresswire.com / -- An influential Plastic Compounding Market research report works as an ideal solution for better understanding of the market and high business growth. Huge efforts have been put together and no stone is left unturned while preparing this report. It considers public demands, competencies and the constant growth of the working industry, vibrant reporting, or high data protection services while analysing market information. Plastic Compounding Market report has a chapter on the global market and allied companies with their profiles, which provides important data pertaining to their insights in terms of finances, product portfolios, investment plans, and marketing and business strategies.
An all-inclusive Plastic Compounding Market report makes thoughtful about competitive landscape which is another significant aspect of market analysis. Therefore, the moves or actions of major market players and brands are analysed in this report which include product developments, products launches, acquisitions, mergers, joint ventures, and future products to technologies. Target driven formulation of report, fidelity for the quality and transparency in research method are few of the features which makes this market report adoptable with confidence. Plastic Compounding Market research report definitely assist businesses for the long lasting accomplishments in terms of better decision making, revenue generation, prioritizing market goals and profitable business.
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.
Competitive Landscape and Global Plastic Compounding Market Share Analysis
The global plastic compounding market competitive landscape provides details by competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies' focus related to the global plastic compounding market.
Some of the prominent participants operating in the global plastic compounding market are DuPont, BASF SE, Dow, Arkema, 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, DSM, SABIC, Sojitz Corporation, Celanese Corporation, HEXPOL AB, Covestro AG, LG Chem, Eni, LANXESS, INEOS, among others.
Global 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.
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.
Fluctuations or volatility in the prices of raw materials
These oscillating petrochemical prices can hamper the growth of the plastic compounding market supported by future supply and demand changes, which are expected to keep plastics prices very volatile. Most raw materials are produced through downstream processes of petrochemicals. Volatility in crude oil prices is mainly due to political instability, supply and demand imbalances, and seasonal variations. In addition, the market is highly integrated, from raw material procurement to distribution channels.
High substitution potential from its bio-based counterparts
Various restrictions imposed by national governments on the consumption of polymers derived from petrochemicals in different end-use industries have incentivized the use of bio-based polymers production. These bio-compound plastics are made from plants or other renewable sources instead of hydrocarbons. Polymers derived through bio-based sources, such as Polylactic Acid (PLA), Polybutylene Succinate (PBS), and Polyhydroxyalkanoate (PHA), have shown remarkable biodegradability that their petrochemical-derived counterpart products severely lack. Therefore, these products are gaining wide popularity, especially in biomedical and agricultural applications.
Stringent regulations imposed on the use of plastic
There has been the imposition of various stringent regulations on the use of plastic with rising environmental concerns related to toxicity issues, which will pose a major challenge to the growth of the global plastic compounding market. Many large and most developed countries and regions have taken significant steps to introduce regulations to drive sustainability, while others are still operating as per the status quo, with limited or no regulations in place.
Strict environmental concerns
Consumers are becoming increasingly aware that plastic and various plastic materials can harm the environment. This has made much of consumers' concern focused on plastic's post-consumption or end-of-life effects on the environment, such as its recyclability, biodegradability, and reusability. However, the effect of plastic on the environment starts well before it hits store shelves as it starts with the extraction of fossil fuels and crude oil as it is the major source of its raw materials.
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Global Plastic Compounding 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.
Poly Vinyl Chloride
Polyethylene Terephthalate (PET)
Poly-Butylene Terephthalate (PBT)
Acrylonitrile Butadiene Styrene
Based on type, the global plastic compounding market is classified into 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.
Based on the source, the global plastic compounding market is classified into fossil-based, bio-based, and recycled.
Based on the additive type, the global plastic compounding market is classified into fillers, anti-oxidants, colorants, UV stabilizers, reinforcement agents, flame-retardants, anti-foaming agents, oxygen scavengers, blowing agents, and others.
Based on the manufacturing process, the global plastic compounding market is classified into injection molding, extrusion, and others.
Building & Construction
Electrical & Electronics
Plastic Compounding Market: Regional Analysis Includes:
Asia-Pacific (Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia)
Europe (Turkey, Germany, Russia UK, Italy, France, etc.)
North America (the United States, Mexico, and Canada.)
South America (Brazil etc.)
The Middle East and Africa (GCC Countries and Egypt.)
Key Indicators Analysed:
Market Players & Competitor Analysis: The report covers the key players of the industry including Company Profile, Product Specifications, Production Capacity/Sales, Revenue, Price and Gross Margin & Sales by Product Types.
Global and Regional Market Analysis: The report includes Global & Regional market status and outlook. Further the report provides break down details about each region & countries covered in the report. Identifying its production, consumption, import & export, sales volume & revenue forecast.
Market Analysis by Product Type: The report covers majority Product Types in the Plastic Compounding Industry, including its product specifications by each key player, volume, sales by Volume and Value (M USD).
Market Analysis by Application Type: Based on the Plastic Compounding Industry and its applications, the market is further sub-segmented into several major Application of its industry. It provides you with the market size, CAGR & forecast by each industry applications.
Market Trends: Market key trends which include Increased Competition and Continuous Innovations.
Opportunities and Drivers: Identifying the Growing Demands and New Technology
Porters Five Force Analysis: The report will provide with the state of competition in industry depending on five basic forces: threat of new entrants, bargaining power of suppliers, bargaining power of buyers, threat of substitute products or services, and existing industry rivalry.
Reasons for buying this report:
Analysing the outlook of the Plastic Compounding market with the recent trends and Porter's five forces analysis
To study current and future market outlook in the developed and emerging markets
Plastic Compounding Market dynamics scenario, along with growth opportunities of the market in the years to come
Plastic Compounding Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
Plastic Compounding Market value (USD Million) and volume (Units Million) data for each segment and sub-segment
Distribution Channel Sales Analysis by Value
Competitive landscape involving the Plastic Compounding market share of major players, along with the new product launch and strategies adopted by players in the past five years
Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategy employed by the major market players
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