Purging Compound Market Analysis by Current Industry Status and Growth Opportunities, Top Key Players

Posted by Rajkumar on February 16th, 2023

Market Overview:

Purging compound is majorly used to in cleaning of plastics. Basically, it is used to remove contaminations and black specks or after a color and resin change in plastic production machineries.


Competitive Landscape:


Asahi Kasei Corporation, Clariant A.G., CALSAK Corporation, Daicel Corporation, DowDuPont Inc., Formosa Plastics Corporation, Kuraray Co., Ltd., Chem-Trend L.P., Polyplast Muller GmbH, and Claude Bamberger Molding Compounds Corporation


Key Market Drivers:

Increasing usage of plastics across packaging, automotive, and construction industries is driving growth of the purging compounds market. According to Coherent Market Insights’ analysis, global plastic packaging market was valued at US$ 300 billion in 2017 and is estimated to expand at a CAGR of 5.3% in terms of revenue during 2018–2025

Growing application of home and personal care products is creating demand for PET Bottles. This is expected to foster market growth. According to the Coherent Market Insight, the market for molded plastics is expected to cross the US$ 200 billion market by end of 2025.


Covid-19 Impact Analysis

The Covid-19 outbreak has had an adverse impact on various industries around the globe. Due to the strict rules and regulations undertaken by government to curb the spread of the infection, companies are looking to function remotely. Moreover, various companies are looking to implement strict measures to operate at minimum risks. Additionally, various companies had shutdowns their manufacturing units which had an adverse impact on purging compounds market.

Key Takeaways:

  1.       The purging compounds market is expected to exhibit a CAGR of 5.4 % over the forecast period owing to the increasing consumption of plastic packaging materials.
  2.        North America is expected to gain significant growth over the forecast period owing to the increasing production of plastics. According to the United States Environmental Protection Agency, in 2018, plastics generation was 35.7 million tons in the United States, which was 12.2 percent of MSW generation.

Like it? Share it!


About the Author

Joined: February 13th, 2019
Articles Posted: 705

More by this author