Purging Compound Market by Type (Mechanical, Chemical/Foaming, and Liquid Purging), Process (Extrusion, Injection Molding, and Blow Molding), and Region - Global Forecast to 2022
“Purging Compound market is projected to grow at a CAGR of 5.4%”
The purging compound market is projected to reach USD 586.3 Million by 2022, at a CAGR of 5.4% from 2017 to 2022. Factors such as increasing use of purging compound in various industries leads to a reduction in machine downtime, low production cost, and less raw material wastage are driving this market. However, the high cost of purging compound is expected to restrain the purging compound market.
“Chemical/foaming purging segment to register the highest growth in the purging compound market”
Chemical/foaming is one of the most common purging compounds which is used in plastic processing equipment. Chemical purging compounds are most preferred due to their high moldability rate, as scrap generated can often be used to remold parts.
“Injection molding segment to register the highest growth in the purging compound market”
Purging compound is widely used in injection molding, as it is one of the most significant processes used for the production of plastic parts in bulk quantities. The use of injection molding accelerates production processes and ensures high precision in the development of engineering components. A wide range of thermoplastics such as ABS, PA, PC, PP, and GPPS, among others, can be processed by injection molding. Typical products produced by injection molding are automotive dashboards, electrical switches, television cabinets, battery casing, telephone headsets, drug inhalation units, syringes, bottles, and disposable razors, among others.
“The purging compound market in the Asia-Pacific region is projected to grow at the highest CAGR during the forecast period”
The Asia-Pacific purging compound market is projected to grow at the highest CAGR from 2017 to 2022. Rapid industrialization in this region has contributed to the expansion of various industries, such as chemicals, petrochemicals, automotive, construction, and food & beverage, among others. As purging compounds are increasingly utilized by these industries to reduce machine downtime and improve production efficiency, the growth of the end-use industries has propelled the demand for purging compounds in this region.
BREAKDOWN OF PROFILE OF PRIMARY PARTICIPANTS:
• By Company Type: Tier 1 - 19 %, Tier 2 - 45%, and Tier 3 - 36%
• By Designation: C Level - 20%, Director Level - 48%, and Others - 32%
• By Region: North America - 24%, Europe - 18%, Asia-Pacific - 47%, South America – 8%, and Middle East & Africa - 3%
Major companies profiled in this report include Asahi Kasei Corporation (Japan), Chem-Trend (China), Purgex (U.S.), Dyna-Purge (U.S.), 3M Company (U.S.), Clariant AG (Switzerland), VELOX GmbH (Germany), E. I. Du Pont de Nemours and Company (U.S.), Kuraray Co., Ltd. (Japan), Daicel Corporation (Japan), The Dow Chemical Company (U.S.), Formosa Plastics Corporation (Taiwan), CALSAK Corporation (U.S.), Reedy Chemical Foam & Specialty Additives (U.S.), Magna Purge (U.S.), and RapidPurge (U.S.)
This report offers an overview of the market trends, drivers, and barriers with respect to the purging compound market. It also provides a detailed overview of the market across five regions, namely, Asia-Pacific, North America, Europe, Middle East & Africa, and South America. The report categorizes the purging compound market on the basis of type, process, and region. A detailed analysis of the leading players, along with the key growth strategies adopted by them is also covered in the report.
Reasons to Buy the Report:
This report covers the following key aspects:
• The market size by 2022, and the growth rate from 2017 to 2022
• The key market trends
• The factors expected to drive the growth of the market
• The barriers that impact market growth
• The key players in this market
• The global purging compound market report covers key regions, such as North America, Europe, Asia-Pacific, Middle East & Africa, and South America.
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