Plastic Compounding Market Forecast by Polymer Type (Polypropylene (PP), Polyethylene (PE), Polyvinyl Chloride (PVC), Polystyrene (PS) and Expanded Polystyrene (EPS), Polyethylene Terephthalate (PET), Polyurethane (PU), Acrylonitrile Butadiene Styrene (ABS), and Other Polymers) and End Use (Automotive, Building & Construction, Packaging, Electrical & Electronics, Medical, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026
The global plastic compounding market was valued at $ 565,416.7 million in 2018 and is projected to reach $ 932,330.5 million by 2026, growing at a CAGR of 6.4% from 2019 to 2026. Plastic compounding consists of a process in which plastic formulations is prepared by mixing and blending polymers and additives in a molten state. These blends are mostly copolymers such as acrylonitrile butadiene styrene, with additives that include antioxidants, UV-stabilizers and other value adding agents. Rapid industrialization as well as urbanization have increased the disposable income of individuals. The demand for automobiles is on the rise owing to growth in disposable income. Due to light weight property of plastic compounds, its usage in production of light weight vehicles is increasing. In order to increase the fuel efficiency and lower the carbon emission of the vehicle, plastic compounding is significantly applied in automobile application.
However, factors such as rise in pricing of plastic compounds due to fluctuating petrochemical and crude oil prices, are expected to hamper the growth of the global plastic compounding market. Nevertheless, ongoing development in catalyst technologies is projected to increase the performance, customization and yield of polyethylene resins, which is anticipated to offer lucrative growth opportunities to the plastic compounding market.
The plastic compounding market is segmented based on polymer type, end use, and region. Depending on polymer type, the market is classified into polypropylene (PP), polyethylene (PE), polyvinyl chloride (PVC), polystyrene (PS) and expanded polystyrene (EPS), polyethylene terephthalate (PET), polyurethane (PU), acrylonitrile butadiene styrene (ABS), and other polymers. Based on end use, it is segregated into automotive, building & construction, medical, packaging, electrical & electronics, and others. Based on region, it is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, Italy, Spain, and rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
The major players operating in the plastic compounding industry include Asahi Kasei Corporation, BASF SE, Celanese Corporation, Covestro AG, DowDuPont Inc., Kingfa Sci. and Tech. Co., Ltd., LyondellBasell Industries Holdings B.V., Polyone Corporation, SABIC and Solvay. Other players operating in this market include Mexichem Specialty Compounds Inc., Coperion GmbH, Adell Plastics, Inc, Sojitz Corporation, and Polyvisions Inc. These major players are adopting different strategies such as acquisition, business expansion, and collaboration to stay competitive in the global market.
KEY BENEFITS FOR STAKEHOLDERS
Porter’s five forces analysis helps to analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
It outlines the current trends and future scenario of the market from 2018 to 2026 to understand the prevailing opportunities and potential investment pockets.
Major countries in the region have been mapped according to their individual revenue contribution to the regional market.
The key drivers, restraints, and opportunities and their detailed impact analyses are elucidated in the study.
The profiles of key players along with their key strategic developments are enlisted in the report.
KEY MARKET SEGMENTS
By Polymer Type
Polyvinyl Chloride (PVC)
Polystyrene (PS) and Expanded Polystyrene (EPS)
Polyethylene Terephthalate (PET)
Acrylonitrile Butadiene Styrene (ABS)
Building and construction
Electrical and electronics
Rest of Europe
Rest of Asia-Pacific
Rest of LAMEA
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