06-Jan-2022 | Zion Market Research
According to findings of Zion Market Research, Plastic Compounding industry amassed returns worth nearly US$ 63.1 billion in 2020 and is set to register profits of approximately US$ 101.28 billion by 2028. Moreover, Plastic Compounding market is slated to register CAGR of almost 6.9% in 2021-2028. Furthermore, elevation in growth of plastic compounding market over forecast timeframe can be attributed to rise in demand for plastics in various sectors such as healthcare, consumer goods, electrical appliances, and construction. Apart from this, high application of plastic components in production of vehicles for reducing weight of automotive along with enhancing product life cycle will drive market trends. Furthermore, plastics are extensively utilized in aircrafts, lighting systems, cooling systems, freight loading units, and disposal system, thereby creating lucrative avenues for plastic compounding industry. For the record, rise in demand for enhancing operating life of aircraft has increased use of plastics in aircrafts, thereby prompting market growth.
Polyvinyl Chloride [PVC] Plastic Compounding Market To Register Marked Growth Over 2021-2028
Expansion of Polyvinyl Chloride [PVC] segment over forecast timeframe is owing to rise in use of PVC in pipes, water-proofing membranes, food & medical packaging, wires & cables, and wood PVC composite materials. Additionally, huge funding of retail, building & construction, transportation, water & sanitation management, power, and irrigation sectors will create lucrative avenues of growth for Polyvinyl Chloride [PVC] Plastic Compounding Market in coming decade.
Building & Construction Segment To Dominate Application Landscape By 2028
Growth of building & construction segment over forecast period is due to surge in populace that requires developed & improved infrastructure facilities. Additionally, escalating demand for plastic compounding products in construction activities will further augment segmental surge.
Asia Pacific Market To Register Exponential Growth In Forecast Timeframe
Expansion of plastic compounding market in Asia Pacific zone over assessment period can be credited to rise in popularity of plastic compounding activities in slew of sectors. In addition to this, swift industrialization, improvement witnessed in economic scenario, favorable government legislations, and easy availability of workforce at reasonable wages will contribute substantially towards regional market growth.
Some of the participants have strongly influenced growth of plastic compounding market and they are also included in our report. They are Agiplast, Kingfa Science & Technology Co. Ltd., Adell Plastics, Inc., Coperion K-Tron, Sojitz Corporation, BASF SE, DuPont, S & E Speciality Polymers, LLC, RTP Company, Inc., and Plstiblends India Ltd.
Browse the full “Plastic Compounding Market- By Type (Polyvinyl Chloride [PVC], Polyethylene [PE], Polypropylene [PP], Polyamide [PA], Polyethylene Terephthalate [PET], Polybutylene Terephthalate [PBT], Acrylonitrile Butadiene Systems [ABS], And Polystyrene [PS]), By Application(Automotive, Electrical & Electronic Appliances, Building & Construction, Textiles, Consumer Goods, Healthcare, Industrial Goods, And Packaging), And By Region- Global Industry Perspective, Comprehensive Analysis, And Forecast, 2021 – 2028.” Report at https://www.zionmarketresearch.com/report/plastic-compounding-market
The global Plastic Compounding Market is segmented as follows:
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