global plastic compounding market size reached US$ 60.7 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 88.77 Billion by 2027, exhibiting a CAGR of 6.54% during 2021-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor
DUBLIN--(BUSINESS WIRE)--Sep 15, 2022--
The global plastic compounding market size reached US$ 60.7 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 88.77 Billion by 2027, exhibiting a CAGR of 6.54% during 2021-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Plastic Compounding Market Trends:
At present, there is a considerable increase in the use of plastics in the automotive industry as they aid in reducing the weight of vehicles by replacing heavy materials, such as metal and glass. This, along with the rising sales of electric vehicles (EVs), represents one of the key factors impelling the growth of the market.
Moreover, plastics developed through plastic compounding find extensive applications in the manufacturing of toys, furniture, pipes, seals, cables, floor coverings, appliances, and profiles for windows and doors. Apart from this, they are also utilized in the production of air ducts, cabin partitions, overhead luggage bins, avionics sensor plates, and ventilation impeller blades.
This, coupled with the thriving aerospace industry, is positively influencing the market. Besides this, polypropylene (PP), a thermoplastic polymer, is widely used in textiles, stationery, laboratory equipment, loudspeakers, and polymer banknotes. In addition, it is employed in food packaging to make yogurt cups, ketchup bottles, and maple syrup, cream cheese, and sour cream containers.
Other factors, such as rapid industrialization and significant growth in the construction sector, are anticipated to strengthen the growth of the market in the coming years.
The publisher provides an analysis of the key trends in each sub-segment of the global plastic compounding market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on product and application.
Polypropylene (PP)
Thermoplastic Vulcanizates (TPV)
Thermoplastic Polyolefins (TPO)
Polyvinyl Chloride (PVC)
Polyethylene Terephthalate (PET)
Polybutylene Terephthalate (PBT)
Polyamide (PA)
Polycarbonate (PC)
Acrylonitrile Butadiene Systems (ABS)
Others
Automotive
Building & Construction
Electrical & Electronics
Packaging
Consumer Goods
Industrial Machinery
Medical Device
Optical Media
Others
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
5 Global Plastic Compounding Market
6 Market Breakup by Product
7 Market Breakup by Application
8 Market Breakup by Region
11 Porters Five Forces Analysis
Adell Plastics Inc.
Agiplast
Asahi Kasei Corporation
Aurora Plastics LLC
BASF SE
Celanese Corporation
Coperion GmbH (Hillenbrand Germany Holding GmbH)
Covestro AG
K.D. Feddersen
LyondellBasell Industries Holdings B.V.
Ravago Manufacturing India Pvt. Ltd.
Solvay S.A.
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INDUSTRY KEYWORD: CHEMICALS/PLASTICS MANUFACTURING
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 09/15/2022 07:38 AM/DISC: 09/15/2022 07:38 AM
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