Purging Compound Market - By Product Type (Chemical/Foaming Purging, Mechanical Purging, and Liquid Purging), By Process (Injection Molding, Extrusion, and Blow Molding), By Application (Construction, Automotive, Industrial Machinery, Polymer, and Others), And By Region - Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026

Global Purging Compound market, which accrued revenue worth nearly 460.7 (USD Million) in 2019 and is slated to garner earnings worth 625.33 (USD Million) by 2026, is set to grow at a CAGR of 5.9% during the period from 2020 to 2026.

05-Nov-2020 | Number of pages: 110 | Report Code: ZMR-3046 | Report Format : | Status : Published

Abstract

The global Purging Compound market, which accrued revenue worth nearly 460.7 (USD Million) in 2019 and is slated to garner earnings worth 625.33 (USD Million) by 2026, is set to grow at a CAGR of 5.9% during the period from 2020 to 2026. The report offers valuation and analysis of the Purging Compound market on a global as well as regional level. The study offers a comprehensive assessment of the industry competition, restraints, revenue estimates, avenues, current & emerging trends, and industry-validated market information. The report offers historical data from 2016 to 2018 along with a forecast from 2019 to 2026 based on value (USD Million).

Introduction

Purging compound is a product formulation that is aimed for cleansing thermoplastics molding equipment and extruders. Apparently, it consists of base resin and other additives that are intended to clean the screw, extruder die, and barrel. The product is also utilized for color changeovers and materials changeovers in less timespan as well as removing of carbon deposits along with purification of hot runner mold. It also helps in avoiding the screw pulls that are not required for cleaning the equipment.

Furthermore, the usage of the product has become a part & parcel of thermoplastic processing in a highly competitive world. The key reason being the ability of purging compound to bring proficiency in production processes and thereby reducing the operation costs. Reportedly, it helps in maintaining injection molding equipment and extruders in best conditions.

Market Growth Dynamics

Massive use of the compound in various sectors due to its ability for reducing machine downtime costs, wastage of raw materials, and manufacturing costs will steer the market trends. In addition to this, large-scale use of the product in plastic processing activities along with increase in the research activities for producing eco-friendly products will catalyze the expansion of purging compound industry over the ensuing years. Apart from this, the escalating use of injection-molded plastic components in automotive sector has resulted in the massive demand for plastic processing equipment, thereby creating lucrative growth avenues for the market. With the industry being highly competitive and new entrants trying to expand their business through launching of eco-friendly products, the industry is likely to gain traction over the forthcoming years. Nonetheless, high product costs can prove detrimental to the growth of purging compound industry in the coming years.  

North America To Make Lucrative Contributions Towards Overall Market Share By 2026

The growth of the market in the region over the estimated timespan is due to burgeoning utility of plastic processing equipment in the countries like the U.S. Apart from this, humungous presence of purging compound processing units in the U.S. is anticipated to contribute majorly towards the regional market revenue over the forthcoming years. Citing an instance, the U.S contributed majorly towards regional market share in 2016 due to massive production of the compounds made by the giant players.

Key players influencing the market growth are Ultra-Purge, Dynapurge, Wells plastics, Chem-Trend L.P., PCS Company, Sun Plastech Inc., Neutrex Inc., Plastixs LLC., Easypurge, and Uniform Color Company.

The global purging compound market is segmented as follows:

By product type:

  • Liquid Purging
  • Mechanical Purging
  • Chemical/Foaming Purging

By process:

  • Extrusion
  • Blow Molding
  • Injection Molding

By application:

  • Automotive
  • Industrial Machinery
  • Construction
  • Polymer
  • Others (Consumer Goods, Medical, Electronics, and Packaging)

By Region

  • 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

Frequently Asked Questions

Massive use of the compound in various sectors due to its ability for reducing machine downtime costs, wastage of raw materials, and manufacturing costs will steer the market trends. In addition to this, large-scale use of the product in plastic processing activities along with increase in the research activities for producing eco-friendly products will catalyze the expansion of purging compound industry over the ensuing years. Apart from this, the escalating use of injection-molded plastic components in automotive sector has resulted in the massive demand for plastic processing equipment, thereby creating lucrative growth avenues for the market.

According to Zion market research, the global Purging Compound market, which accrued revenue worth nearly 460.7 (USD Million) in 2019 and is slated to garner earnings worth 625.33 (USD Million) by 2026, is set to grow at a CAGR of 5.9% during the period from 2020 to 2026.  

North America is likely to make noteworthy contributions towards overall market revenue. The surge in the expansion of market in the sub-continent over the estimated timespan is credited to burgeoning utility of plastic processing equipment in the countries like the U.S. Apart from this, humungous presence of purging compound processing units in the U.S. is anticipated to contribute majorly towards the regional market revenue over the forthcoming years. Citing an instance, the U.S contributed majorly towards regional market share in 2016 due to massive production of the compounds made by the giant players.

The key players profiled in the report include Wells plastics, Dynapurge, Plastixs LLC., Chem-Trend L.P., PCS Company, Neutrex Inc., Sun Plastech Inc., Easypurge, Ultra-Purge, and Uniform Color Company.

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