Plastic Compounding Market to Exceed 500,000,000 Tons In Terms Of Volume By 2025

Posted by Vinay on October 11th, 2017

The global plastic compounding market is estimated to exhibit a moderate expansion at 4% CAGR, in terms of volume, during the forecast period 2017 to 2025, according to a recent analysis by Persistence Market Research (PMR). Global sales of plastic compounds are projected to reach nearly 300,000,000 tons in 2017; by 2025 this number is further anticipated to account for around 500,000,000 tons.

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Demand for plastics is witnessing an immense surge in the consumer goods and food packaging sector, playing an indispensable role in safe transit of products. Flexible packaging accounts for a major group of materials including plastic films, foil, papers, vegetable fibers, and cloths that are capable of being used for making wrappings, sacks, and sealed as well as unsealed bags. Plastic compounds are also utilized in electronics and electrical industries, to manufacture parts of integrated circuits, resistors, and semiconductors. Rise in technological advancements in electronic devices and gadgets have been influencing growth of the electronics and electrical sectors, thereby fuelling adoption of plastic compounds.

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