Sep 15, 2022   SOURCE: BusinessWire

Global Plastic Compounding Market Report 2022: Increased Demand from Automotive Industry Driving 6.54% Growth - ResearchAndMarkets.com

The "Plastic Compounding Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.

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.

Key Market Segmentation:

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.

Breakup by Product:

  • Polyethylene (PE)
  • Polypropylene (PP)
  • Thermoplastic Vulcanizates (TPV)
  • Thermoplastic Polyolefins (TPO)
  • Polyvinyl Chloride (PVC)
  • Polystyrene (PS)
  • Polyethylene Terephthalate (PET)
  • Polybutylene Terephthalate (PBT)
  • Polyamide (PA)
  • Polycarbonate (PC)
  • Acrylonitrile Butadiene Systems (ABS)
  • Others

Breakup by Application:

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

Breakup by Region:

  • 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

Key Topics Covered:

1 Preface

2 Scope and Methodology

3 Executive Summary

4 Introduction

5 Global Plastic Compounding Market

6 Market Breakup by Product

7 Market Breakup by Application

8 Market Breakup by Region

9 SWOT Analysis

10 Value Chain Analysis

11 Porters Five Forces Analysis

12 Price Analysis

13 Competitive Landscape

Companies Mentioned

  • 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.

For more information about this report visit https://www.researchandmarkets.com/r/spt3nu