Plastic Compounding Market size to cross $50bn by 2024

Plastic Compounding Market Size will surpass USD 50 billion by 2024; according to a new research report by Global Market Insights, Inc.
 

Plastic compounding is an essential process which helps in improving the physical properties of the polymer resins by adding reinforcers or fillers. This process results in manufacturing of better plastic products which can withstand extreme conditions, making it suitable in a wide range of industries. One such industry is the automotive sector, which has been increasingly using plastics in various parts of the vehicle to make it light weight. Various regulations have also been implemented in different parts of the world regarding vehicle weight reduction. This will further boost the need for advanced plastics in the automotive industry. Plastic usage in the automotive industry would rise in the coming years as vehicle weight reduction helps in achieving fuel efficiency.

 

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Expanding electronics industry will be a significant growth enabler in the plastic compounding market during the study period. The need for good quality plastics have increased in various electrical applications like wires & cables, switches, semiconductors, sockets, light fittings, etc. Plastic compounding can meet the changing demands of the electronics industry where products are becoming smaller, light weight and portable. The global semiconductor industry has been progressing in the recent years, with revenue increasing from about USD 290 billion in 2010 to over USD 300 billion by 2016. Such progress in the electronics industry will continue, which would augment the market growth over the study period.
 

Browse key industry insights spread across 274 pages with 338 market data tables & 28 figures & charts from the report, “Plastic Compounding Market Size By Product (Thermoplastic Polymers [Polyethylene, Polypropylene, Polyester, Polycarbonate, Polyethylene Terephthalate, Polyvinyl Chloride], Thermosetting Polymers [Polyurethane Resin, Epoxy Resin], Thermoplastic Elastomers [Polyamides, Polyurethanes, SBC]), By End-user (Consumer Goods, Electrical & Electronics, Construction, Automotive, Aerospace), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, South Africa, GCC), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/plastic-compounding-market
 

The various product segments in the plastic compounding market are thermoplastic polymers, thermosetting polymers, thermoplastic elastomers and others. The sub segments of thermoplastic elastomers are polyamides, polyurethane, SBC and others. Out of these segments, SBC occupied over one third share. Thermoplastic elastomers attained the second largest share due to its diverse features like abrasion resistance, high impact strength, good flexural resistance, electric properties, etc. This segment attained a compound annual growth rate of over 7.5% during the study period.
 

Consumer goods segment held the second highest market share due to widespread product usage in this application. Plastics are significantly used in household appliances like mobile phones, microwave, laptops, refrigerator, television, etc. Plastic compounding market for consumer goods will also have significant demand for: furnishing applications such as knobs, handles, door facings on cookers, internal fittings, etc. Rising population in emerging economies and expanding urbanization would increase the need for plastics in this segment in the study period.
 

Europe is a key region which generated a revenue of around USD 8 billion as of 2016. This is due to the presence of leading automotive & aerospace manufactures in the area. Stringent EU regulations would propel bioplastics demand which would drive plastic compounding market in the study period. North America is another significant market which occupied a share of over 15% in 2016. Growth in its construction industry would positively affect plastic compounding demand over the years.
 

RTP Company, LyondellBasell Industries, BASF SE, A. Schulman, and Solvay are some of the significant market players. Their key focus has been on expanding their production capacity to fulfill the growing demand and invest in R&D activities to cope with the changing customer preferences and regulations.
 

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Plastic compounding market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in kilo tons & revenue in USD million from 2013 to 2024, for the following segments:

Plastic Compounding Market By Product

  • Thermoplastic Polymers
    • Polyethylene
    • Polypropylene
    • Polyester
    • Polycarbonate
    • Polyethylene Terephthalate
    • Polyvinyl Chloride
    • Others
  • Thermosetting Polymers
    • Polyurethane Resin
    • Epoxy Resin
    • Others
  • Thermoplastic Elastomers
    • Polyamides
    • Polyurethanes
    • SBC
    • Others
  • Others

Plastic compounding Market by End-user

  • Consumer Goods
  • Electrical & Electronics
  • Construction
  • Automotive
  • Aerospace
  • Others

The above information is provided on a regional and country basis for the following:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • Indonesia
    • Malaysia
    • Thailand
  • Latin America
    • Brazil
  • MEA
    • South Africa
    • Saudi Arabia
    • UAE

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