Plastic Compounding Market Size, Share and Forecast 2027

The global plastic compounding market size is projected to reach USD 104.1 Billion by 2027 from USD 58.79 billion in 2019, registering a CAGR of around 6.71% Between 2021 and 2027

Precedence Research’s study on the plastic compounding market offers exclusive insights into key growth drivers and restraints. The report underscores some of the popular strategies that market players undertake to gain a competitive edge.  Despite unprecedented implications of the COVID-19 outbreak, the market will gain impetus amidst soaring investment towards the sophistication of the healthcare sector.

The market survey offers compelling insights into key factors enabling growth through the assessment period. It underscores hidden opportunities across diverse segments in terms of type, application, region and others. Besides uncovering hidden opportunities, the report presents exclusive insights into challenges posing threat to growth. Alongside this, it offers recommendations to navigate through unforeseen hindrances in the future, while keeping the business afloat.

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Key Players & Strategies

Global plastic compounding market is extremely fragmented with more than 60% share captured by SMEs. Players are speedily intensifying their fabrication competences to amalgamate their market status. This industry has observed noteworthy capacity developments in China due toadvent of standalone independent compounders. Backward integration is one of the foremost industry-wide drifts in the compounding business that is also happening in other facets of the plastics sector.

Strategic acquisitions and new production facilities are also identified as major factors that will drive market growth. Continuously rising requirement for resins, polymers, and plastic compounds from multiple end-user sectors including construction, automotive, healthcare, and packaging, consumer and electronics industries among others are further pushing the market growth. Suchrising demand for plastic compounds has fortified market participants to develop their market presence with the help of strategic mergers and acquisitions and starting new fabrication facilities. For example, LyondellBasell acquired A. Schulman Inc. in order to upsurge their resin and plastic compounds production. Likewise, RTP Company startednew-fangled production facilities in the Poland and US and are scheduling to surge their manufacturing capability of its current facility in Wisconsin, U.S..

Overview of plastic compounding Market Study

plastic compounding market study conducted by Precedence Research is intended at helping stakeholders get a comprehensive overview of potential challenges and undiscovered opportunities. The report offers exclusive insights to help companies make informed decisions to sustain growth through the assessment period.

Growth Factors

Plastic is extensively used in numerous activities of infrastructure sector. Plastic compounding is regularly being utilized to widen the utility and life of outdated building materials, and helps them to function more economically and reliably. Augmented use in the infrastructure area is one of the prominent influencing factors for the growth of plastic compounding market globally. Infrastructure sector is showing tremendous growth on account of rising development of new highways/expressways, airports, modern seaports, multi-modal logistics parks and metro-rail. Government organizations further support the various development activities in the infrastructure sector across the world. There are numerous regulations and rules on the development of roads, airports, highways, and railways to enhance specific country’s economy.

Report Highlights

• In terms of volume and revenue, polypropylene emerged as utmost consumed plastic compounding product. Its growing production is fueled by great demand from medical device and packaging sectors globally.
• Cumulative need for improved service ability, heat resistance and flame retardancy is likely to trigger growth of the product in electrical and electronics industries
• Construction has emerged as prominent application sector for polyethylene compounds with occupying mass application worldwide
• Bioplastic organizations are finding innovative approaches for manufacturing bioplastics from diverse kinds of raw materials

Key Points Covered in Plastic Compounding Market Survey

• Demand will remain high in the U.S., backed by favorable reimbursement policies and presence of some of the leading market players.
• Europe will continue showcasing high demand. Sales will remain high, especially in the U.K., Germany, France, and other countries.
• China and India will exhibit high demand for plastic compounding, backed by expanding healthcare sector.
• Focus on research and development will increase in Brazil, creating opportunities for the expansion of the plastic compounding market.
• Hospitals are expected to showcase higher demand for plastic compounding on account of greater access to advanced technologies and higher footfall of patients.
• Driven by the presence of some of the leading pharmaceutical producers, demand in the Japan and U.S. plastic compounding market will continue increasing at a high pace.

Regional Snapshots

In 2019, Asia Pacific occupied majority of the revenue share of the global plastic compounding market which was around 42%. This growth is on account of augmented applications in numerous sectors including consumer goods, automobiles, electronics, packaging, and construction among others. This region attracted several manufacturers due to low cost labor, economical manufacturing units set up, and cheap raw resources. Certain noticeable players in Asia Pacific have introduced innovative products and broadened their business units. Europe has also appeared as rapidly growing market for plastic compounding. Germany, France, Russia and UK, are the some of the keyrevenue generating markets in this region. Different federal level agencies including European Commission and European Chemicals Agency (ECHA) have pigeonholed rigorous environmental guidelines related to the consumption and production of the materials. These regulations are pushing players to improve processes and to advance ecological products and technologies.

Developing nations including Mexico are likely to profit from mounting building and construction expenditure and preference of users forusing lightweight and maintainable building materials instead of conventional materials.

Segments Covered in the Report

This research report estimates revenue growth at global, regional, and country levels and offers an analysis of present industry trends in every sub-segment from 2016 to 2027. This research study analyzes market thoroughly by classifying global plastic compounding market report on the basis of multiple factors including application, product and region as follows:

By Application

• Electronics & Electrical
• Automotive
• Packaging
• Building & Construction
• Industrial Machinery
• Optical Media
• Consumer Goods
• Medical Devices
• Others

By Product

• Thermoplastic Polyolefins (TPO)
• Poly Vinyl Chloride (PVC)
• Polypropylene (PP)
• Polyethylene
• Thermoplastic Vulcanizates (TPV)
• Polystyrene
• Polybutylene Terephthalate (PBT)
• Polycarbonate
• Acrylonitrile Butadiene Styrene (ABS)
• Polyethylene (PET)
• Polyamide
• Others

By Regional Outlook

• North America
  • U.S.
  • Canada
• Europe
  • U.K.
  • France
  • Germany
  • Italy
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
• Middle East & Africa
  • Saudi Arabia
  • South Africa

Some of the key highlights covered in the report include:

• Market Demand-Supply Analysis – The report covers detailed insights into demand and supply forces prevailing in the global plastic compounding market. It examines trends and factors influencing demand for plastic compounding globally and gauges the impact of the same on the production.
• Pricing Analysis – The report presents exclusive pricing analysis. It compares pricing strategies adopted by the leading market players and identifies the most remunerative strategies.
• Market Segmentation – The report segments the global market in terms of diverse criteria. It identifies the leading segment within each category and identifies growth drivers and restraints affecting growth across each segment.
• Regional Analysis – The report segments the market in terms of North America, Europe, Latin America, Asia Pacific, and Rest of the World in terms of region. It has chapters exclusively dedicated to analyzing growth trends across each region. It identifies growth drivers as well challenges affecting demand for plastic compounding across the world.
• Competitive Analysis – Some of the leading market players are profiled in the report on plastic compounding. The report offers an estimation of share individually help by the market players and determines the impact of some of their popular strategies.
• COVID-19 Impact Analysis – This chapter is exclusively dedicated to gauging how the market has evolved or will develop in the post-pandemic era.
• Growth Recommendations – In the end, the report presents valuable recommendations to ready businesses for unforeseen challenges in the near future.

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