Plastic Compounding Market - Global Industry Analysis

Global Plastic Compounding Market: Overview

The process of taking raw & basic plastic material and customizing it with several additives to attain performance, property, and color requirements is termed plastic compounding. Physical processes and lab formulation achieve this by merging necessary colors and additives to the plastic resin. In plastic compounding, to enhance the compound properties, ingredients such as plasticizers, fibers, UV stabilizers, color concentrates, and many more play a key role.

Report Scope:

Global Plastic Compounding Market: Growth Factors

The global plastic compounding market is growing at a healthy rate. Some of the major factors such as rapid globalization & consolidation in the compounding industry, growing use of polyethylene in developing countries, and growing demand for attractive interiors from the customers are fueling the growth of the global plastic compounding market. Further, a rise in inclination towards the use of compounded plastics in business sectors such as electrical & electronics, aerospace, construction, and many more are also equally contributing to the market growth. A rise in disposable income, increase in the standard of living, and high spending power are some of the factors that have increased the demand for electrical & electronic as well as residential & commercial projects in economically growing countries. In addition to this, the increase in the use of compounded plastic as an ideal alternative to Expensive Engineered Plastics, natural rubber, wood, and metals is propelling the market growth. Moreover, an increase in the number of consumer goods and growing demand from the automotive sector are fostering market growth. Furthermore, the rise in demand for 3D printing from consumer products, aerospace, and healthcare sectors is likely to have ample opportunities for the growth of the global plastic compounding market over the forecast period. However, fluctuating prices of petrochemical products and crude oil may limit the growth of the global plastic compounding market.

Onset of COVID-19 pandemic severely hit the plastic compounding market. Key factors that hampered the growth of the market during the pandemic period include increase in raw material prices, halt in manufacturing process, supplier shortage, and low demand caused. All these factors equally contributed to less revenue generation during the pandemic period. However, mounting demand for specially characterized plastic materials in automotive, construction, and electronics sector is likely to fuel plastic compounding demand over the forecast period.

Global Plastic Compounding Market: Segmentation

The global market for plastic compounding is segregated based on product type, applications, and region. Based on product type, the global market is categorized into polymer/copolymers and additives. The application segment of the global market is classified as automotive, electrical & electronic appliances, building & construction, textiles, packaging, consumer goods, healthcare, industrial goods, and others.

Global Plastic Compounding Market: Regional Analysis

Asia Pacific is projected to remain the largest market for plastic compounding during the forecast period. Large growth of the market in this region is mainly attributed to the massive demand of modified plastic materials in well-established automobile, construction, and electronics sectors. Presently, the automobile and construction industries are rapidly expanding in major countries of the region. This is mainly due to the presence of large populated countries, increase in disposable income, and increasing demand for new vehicles and homes. China is likely to remain the major revenue contributor for the plastic compounding market during the forecast period, followed by India and Japan. North America is expected to hold second-largest position in the global plastic compounding market. Major countries in the region such as the US and Canada are rapidly increasing their strengths in small and mid-sized companies which has a significant impact on the growing demand for plastic compounding. Specialized plastic material users are large in these countries and the demand is anticipated to remain high over the forecast period. Europe and the Middle East are also expected to contribute healthy revenue in the global plastic compounding market over the forecast period. The growth can be attributed to increasing construction activities in the Middle East and high demand for recyclable plastic material in European countries fueling the demand for plastic compounding.

Global Plastic Compounding Market: Competitive Players

The global plastic compounding market is highly fragmented, key players in the market are focusing to achieve cost effective production process to reduce the final product cost. Besides, mergers and acquisitions are on rise to expand the business reach around the world. Some of the key players operating in the market include BASF SE, DuPont, Adell Plastics, S & E Speciality Polymers, Coperion K-Tron, RTP CO., Agiplast, Kingfa Science & Technology Co. Ltd., Sojitz Corporation and Plstiblends India Ltd. among others.

Global Plastic Compounding Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

What Reports Provides

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.