The global Plastic Compounding Market accrued earnings worth approximately 63.1 (USD Billion) in 2020 and is predicted to gain revenue of about 101.28 (USD Billion) by 2028, is set to record a CAGR of nearly 6.9% over the period from 2021 to 2028.
The global Plastic Compounding Market accrued earnings worth approximately 63.1 (USD Billion) in 2020 and is predicted to gain revenue of about 101.28 (USD Billion) by 2028, is set to record a CAGR of nearly 6.9% over the period from 2021 to 2028. The report offers assessment and analysis of the Plastic Compounding Market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, revenue estimates, opportunities, evolving trends, and industry-validated data. The report provides historical data from 2018 to 2020 along with a forecast from 2021 to 2028 based on revenue (USD Billion).
Plastic Compounding Market: Overview
Plastic compounding is the method of adding polymers into a molten plastic base for producing material of required quality. It means preparing plastic formulations through mixing of additives and polymers in molten state for achieving specific features. Reportedly, plastic compounding is blend of copolymers including SMA, ABS, and SAN with additives including UV-stabilizers & anti-oxidants and sometimes glass fibers. Furthermore, plastic compounding is generally done with help of extrusion.
Plastic Compounding Market: Growth Drivers
Growth of plastic compounding market over forecast timeline is due to its easy molding features and ability to form various kinds of shapes. Massive need for glass, wood, metal, and natural rubber substitution will culminate into humungous business growth. Apart from this, surging demand for plastics in construction, electrical & electronics, and automotive sectors is predicted to be a key factor influencing industry growth in a long run. Massive demand for plastics in infrastructural growth will prop up size of plastic compounding market over forecasting timespan. Huge investments in water & sanitation management, irrigation, power, retail, and transport sectors will play a key role in impacting growth of plastic compounding industry. However, fluctuating petrochemical costs can put brakes on growth of plastic compounding business over upcoming years.
Report Scope:
Report Attribute | Details |
---|---|
Base Year | 2020 |
Historic Years | 2016 - 2020 |
Forecast Years | 2021 - 2028 |
Segments Covered | By Product Type, By Application, and By End Use |
Forecast Units | Value (USD Billion), and Volume (Units) |
Quantitative Units | Revenue in USD million/billion and CAGR from 2021 to 2028 |
Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
Number of Companies Covered | 10 companies with scope for including additional 15 companies upon request |
Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
Customization Scope | Avail customized purchase options to meet your exact research needs. |
Plastic Compounding Market: Regional Landscape
Asia Pacific Plastic Compounding Market To Grow Leaps & Bounds Over 2021-2028
Growth of plastic compounding market in Asia Pacific over forecast timeline is subject to humungous demand for modified plastics in automotive, electronics, and construction sectors. Growing trend of producing eco-friendly or recyclable plastic materials in countries such as India and China owing to ban on use of conventional plastic materials will boost regional market growth. Additionally, inclination towards green plastics production among plastic manufacturers in sub-continent will prop up market expansion in Asia Pacific over forecast timeframe.
Competitive Insights
Key players leveraging market growth and profiled in report include Agiplast, Adell Plastics, Inc., Sojitz Corporation, BASF SE, DuPont, RTP Company, Inc., S & E Speciality Polymers, LLC, Coperion K-Tron, Kingfa Science & Technology Co. Ltd., and Plstiblends India Ltd.
The global Plastic Compounding Market is segmented as follows:
By Type
By Application
By Region
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Growth of plastic compounding market over forecast timeline is due to its easy molding features and ability to form various kinds of shapes. Massive need for glass, wood, metal, and natural rubber substitution will culminate into humungous business growth. Apart from this, surging demand for plastics in construction, electrical & electronics, and automotive sectors is predicted to be a key factor influencing industry growth in a long run. Massive demand for plastics in infrastructural growth will prop up size of plastic compounding market over forecasting timespan. Huge investments in water & sanitation management, irrigation, power, retail, and transport sectors will play a key role in impacting growth of plastic compounding industry.
According to Zion market research report, the global Plastic Compounding Market accrued earnings worth approximately 63.1 (USD Billion) in 2020 and is predicted to gain revenue of about 101.28 (USD Billion) by 2028, is set to record a CAGR of nearly 6.9% over the period from 2021 to 2028.
Asia Pacific will contribute lucratively towards the global market earnings over the projected timeline. The regional market surge is subject to humungous demand for modified plastics in automotive, electronics, and construction sectors. Growing trend of producing eco-friendly or recyclable plastic materials in countries such as India and China owing to ban on use of conventional plastic materials will boost regional market growth. Additionally, inclination towards green plastics production among plastic manufacturers in sub-continent will prop up market expansion in Asia Pacific over forecast timeframe.
The key market participants include Agiplast, Adell Plastics, Inc., Sojitz Corporation, BASF SE, DuPont, RTP Company, Inc., S & E Speciality Polymers, LLC, Coperion K-Tron, Kingfa Science & Technology Co. Ltd., and Plstiblends India Ltd.
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