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Plastic Compounding Market Research Report- Forecast to 2028

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Plastic Compounding Market Research Report- Forecast to 2028 Report Information More information from: https://www.marketresearchfuture.com/reports/4697 Plastic Compounding Market Research Report- Forecast to 2028 Report / Search Code: MRFR/CnM/3276-CR Publish Date: August, 2018 Request Sample Price 1-user PDF : $ 4450.0 Enterprise PDF : $ 6250.0 Description: Market Overview Plastic Compounding Market is projected to be worth USD 985,743.6 million by 2028, registering a CAGR of 6.75% during the forecast period (2021 - 2028). The international manufacturing sector persists in placing an enormous requirement for polymer mixtures. As mentioned above, a fast expansion in the plastic compounding technology is witnessed as a subsequent upshot of the occurrence. Polymer blends are expected to remain a desirable industrial product as they are finding new application chances. The use of plastic compounding permits the use of polymer variants such as Polyethylene (PE), PVC (Poly Vinyl Chloride), and Polypropylene (PP) in the building of an extensive range of products. COVID-19 Analysis The conditions of buyers and sellers are changing significantly in the course of the COVID-19 crisis, which is estimated to have significant rippling effects on a macro level, especially for markets for packaging and medical applications that have coped well through the pandemic. In contrast, transactions into automotive and some durable articles such as appliances have shown strained development. Trends emerged in the pandemic, such as automakers who pivoted to providing and manufacturing ventilators in the pandemic's initial days. It is also noted that companies like LyondellBasell in the third quarter of this year saw a recovery in automotive manufacture, as OEMs resumed assembly lines and produced their vehicle backlogs. Market Dynamics Drivers Increasing Plastic Consumption In The Automotive Industry The mounting demand for fuel-efficient lightweight automotive components has opened up avenues of plastic compounding market expansion. Governments' initiatives for promoting lightweight automobiles' adoption to curb carbon emissions are expected to influence market proliferation positively. Replacement For Glass And Metals The use of the compounding techniques has led to plastic use has appeared as a viable alternative to glass and metal. Rising Demand For Light And Innovative Materials In The Packaging Industry Furthermore, the thriving packaging industry plays an essential role in the accelerated revenue generation for market players. Growth Of Key End-Use Industries The rise in plastic application in large-scale sectors such as packaging, electronics, and automotive is likely to support the global plastic compounding market's growth. Restraints Volatility In Raw Material Prices The instability in petrochemical costs is anticipated to test the plastic compounding market as the raw materials expended in plastic compounding are predominantly reliant on petrochemicals. Opportunities Growing Use Of Recycled Plastic In Various End-Use Industries The recent trend of using bio-based and recycled plastic observed in the plastic compound market has cemented the mode for advances and product portfolio developments. Segment Overview By Product The polypropylene segment captured a 31.07% share of the global plastic compounding market in 2017. The segment is assessed to record a CAGR of 6.5% throughout the assessment period. The segment's growth is credited to its elevated impact resistance, and useability has powered demand in the automotive sector. By Application The automotive segment presently reports for the leading share of the overall market. The tendency is expected to continue in the projected future. The segment is anticipated to flourish at a healthy CAGR of 7.53% throughout the forecast period. Plastic performs an integral role in producing automotive elements, which is expected to hasten the segment's development. Regional Analysis APAC Region To Display Formidable Developments The Asia Pacific reported a 47.6% share of the global market in 2017 and is expected to continue an extremely profitable market in the forecast period. The Asia Pacific is appraised to exhibit a 6.25% CAGR throughout the forecast period. The growth is linked to the upsurge in requirements from the thriving automotive industries. The exponentially growing population is inducing the consolidation of developing markets such as Thailand, India, China, and South Korea to produce prospects for plastic compounding market companies in the region. Packaging Industry To Add To Attractiveness Of European Regional Market Europe will hold the next spot globally, covering 20.8% of the plastic compounding market. The market is likely to remain highly lucrative during the projection period striking a CAGR of 5.72%. The development of the packaging industry in the region has an indispensable role in improving plastic compounding market demand. Automobile Demand To Fuel Americas Region The Americas plastic compounding market is projected to display an impressive growth section booming at a 5.17% CAGR. The factor inspiring revenue collection for market contributors in the region is augmented automotive manufacture connected with increasing demand for lightweight vehicles. Competitive Landscape The noteworthy contenders in the Plastic Compounding Market are: LyondellBasell Industries NV, SABIC, Borealis, INEOS, DuPont, BASF SE, Versalis S.p.A (Eni S.p.A), Asahi Kasei Corporation, Covestro AG, F.TER S.r.l, 3M (Dyneon GmbH), LANXESS AG, Total SA Recent Developments Dec 2020 Matrix Plastics Ltd, a market frontrunner in the coloring and compounding of plastic and other resources, has declared the founding of a new sub-brand Matrix Medical Plastics. It will operate from a purpose-built facility next to the Matrix Plastics main site, and Matrix Medical Plastics will deliver fully conforming medical compounding services to manufacturers worldwide. Dec 2020 Borealis has attained a controlling share in DYM Solution Co. Ltd, a South Korean compounder. The acquisition solidifies Borealis' position as an international supplier of wire and cable material solutions. With this investment, Borealis has extended its worldwide wire and cable asset footprint and widened its huge portfolio with complementary products and technologies for rubber, flame retardant, semi- conductive, and silane cross-linkable compounds. July 2020 Albis Plastic GmbH has accomplished its division into two separate business units. Plastics recycler Wipag and chemicals supplier Krahn Chemie also is a portion of the consortium. Benefits to the new structure include more transparent accountability for results, expenses, and quicker decision-making paths. The firm's resin distribution business will continue to operate as Albis, while its compounding unit will do business as Mocom. Both units are part of the Germany-based Otto Krahn Group. May 2020 Covestro, a materials producer, and Teknor Apex, the global plastics compounder stated they would closely join forces on compounding thermoplastic polyurethane (TPU) and have engaged in an agreement to this effect. The grouping of Covestro's know-how in TPU resin with Teknor Apex's custom preparation and compounding abilities delivers a convincing value driver for their clientele worldwide. TPU is a tremendously versatile plastic, which Covestro has produced in pure form for many years intended for many industry sectors. Report Overview By Product Polypropylene Polyethylene Polyvinyl Chloride Polyethylene Terephthalate Polystyrene Acrylonitrile Butadiene Styrene Polyamide Polycarbonate Thermoplastic Polyolefins Thermoplastic Vulcanizates Polybutylene Terephthalate Others By Application Automotive Electrical & Electronics Building & Construction Packaging Consumer Goods Industrial Machinery Solar mirror Medical Devices Optical Media Others Infographic Summary: Contents: Contents 1 Executive Summary 2 Market Introduction 2.1 Definition 20 2.2 Scope Of The Study 20 2.3 List Of Assumptions 20 2.4 Limitations 20 2.5 Market Structure 21 3 Research Methodology 3.1 Research Process 23 3.2 Primary Research 24 3.3 Secondary Research 25 3.4 Market Size Estimation 25 3.5 Forecast Model 26 4 Market Dynamics 4.1 Introduction 28 4.2 Drivers 29 4.2.1 Increasing Plastic Consumption In The Automotive Industry 29 4.2.2 Replacement For Glass And Metals 29 4.2.3 Rising Demand For Light And Innovative Materials In The Packaging Industry 30 4.2.4 Growth Of Key End-Use Industries 30 4.3 Restraint 32 4.3.1 Volatility In Raw Material Prices 32 4.4 Opportunity 33 4.4.1 Growing Use Of Recycled Plastic In Various End-Use Industries 33 4.5 Trend 33 4.5.1 Increasing Use Of Bio-Based Plastic In Various End-Use Applications 33 5 Market Factor Analysis 5.1 Supply Chain Analysis 35 5.1.1 Raw Material Suppliers 35 5.1.2 Plastic Compounding Manufacturers 35 5.1.3 Distribution Channel 36 5.1.4 End-Use Industry 36 5.2 Porter's Five Forces Analysis 36 5.2.1 Threat Of New Entrants 36 5.2.2 Threat Of Rivalry 37 5.2.3 Threat Of Substitutes 37 5.2.4 Bargaining Power Of Suppliers 37 5.2.5 Bargaining Power Of Buyers 37 6 Global Plastic Compounding Market, By Product 6.1 Polypropylene 41 6.2 Polyethylene 42 6.3 Polyvinyl Chloride 43 6.4 Polyethylene Terephthalate 44 6.5 Polystyrene 45 6.6 Acrylonitrile Butadiene Styrene 46 6.7 Polyamide 47 6.8 Polycarbonate 48 6.9 Thermoplastic Polyolefin 49 6.10 Thermoplastic Vulcanizates 50 6.11 Polybutylene Terephthalate 51 6.12 Others 52 7 Global Plastic Compounding Market, By Application 7.1 Automotive 57 7.2 Electrical & Electronics 58 7.3 Building & Construction
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