Plastic Compounding Market Research Report- Forecast to 2023Posted by Avinash on October 1st, 2019 Plastic Compounding is an ever-increasing market space. The market is garnering colossal traction due to the increasing prominence of plastic material in modern lives. A vast amount of compounded plastic is absorbed each year for the manufacturing of plastic decking, toys, pipes, window profiles, packaging, cable ducts, films, and automotive components, etc. All product types of Plastic Compounding are extensively consumed across industries which explains the future landscape for the Plastic Compounding Market at a global level. According to a leading research firm - Market Research Future (MRFR), the Global Plastic Compounding Market is to expand to USD 7,62,472.7 MN by 2023. In its recent analysis, MRFR also asserts that during the forecast period (2017 to 2023) the market would register 6.03% CAGR. In 2017, the market had generated a value of USD 5,36,724.4 MN. The augmenting market demand led by the burgeoning automotive & packaging industry is a major driving force. Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/4697 Other factors influencing the growth of the market, positively, include the growing population, urbanization, and industrialization across the globe. Also, the improving economic conditions worldwide, substantiate the market demand, driving the plastic market & the several other markets associated with the plastics. Furthermore, increasing investments transpired in the R&D activities to improve compounding techniques and to better the product, and associated technologies are fuelling the market growth. Plastic Compounding Market - Segmentations The report is segmented into three market dynamics to widen the scope of understanding, By Product Type: ABS, PET, PEB, TV, Polyethylene, Polyvinyl Chloride, Polystyrene, Polyamide, Polycarbonate, and Polypropylene Compounds, among others. By Application: Electrical & Electronics, Medical Devices, Automotive, Consumer Goods, Construction, Packaging, and Industrial Machinery, among others. By Regions: North America, Europe, APAC, and the Rest-of-the-World. Major Players: Players Leading the Plastic Compounding Market include Lyondell Basel Industries NV (the Netherlands), Chevron Phillips Chemical Company (US), Eni S.p.A (Italy), BASF SE (Germany), Versalis S.p.A (Eni S.p.A), Covestro AG, Asahi Kasei Corporation, SO.F.TER S.r.l, 3M (Dyneon GmbH), Lanxess AG (Germany), and Total SA, among others. Global Plastic Compounding Market - Competitive Landscape Highly competitive, the Global Plastic Compounding Market appears to be fragmented due to the presence of many large and small-scale players. These players, alongside the new entrants, churn the market competition to gain a competitive advantage. Players also incorporate strategic initiatives such as mergers & acquisitions, collaboration, expansion, and technology launch to sustain their market positions. Plastic Compounding Market - Geographical Analysis The Asia Pacific region dominates the Global Plastic Compounding Market with the largest market share. The presence of the burgeoning automotive, construction and packaging industries attributes to the regional market growth. Rapidly growing markets in China, Japan, and India contribute to the growth of the regional market, majorly, witnessing the massive consumption of polypropylene and polyethylene in these sectors. Besides, growing production and investments drive the growth of the Plastic Compounding Market in the region. The region has long been intriguing foreign investors due to its raw material advantage and the cost-competitive workforce. Resultantly, the numbers of plastic compounding plants in the region are continually rising, which is a substantial driving force behind the growth of the regional market. In 2017, the Plastic Compounding Market in the APAC was observed to have generated a value of USD 2,55,831 MN, which will appreciate further at a CAGR of 6.25% over the forecast period. The Plastic Compounding Markets in well-developed regions, Europe and North America are too growing significantly. The European market is predominantly led by the increasing demand for polypropylene and polyethylene in heavy industries. Moreover, the rapid industrialization and the demand from the consumer goods sector propel the regional market growth, acting as a significant tailwind. Therefore, the Plastic Compounding Market in Europe is projected to grow at a CAGR of 5.72% over the forecast period. Whereas North America's significant share in the Global Plastic Compounding Market attributes to the growing demand for plastics in automotive, construction, packaging, industrial machinery, and aviation sectors. Moreover, increasing automotive production and the rising demand for lightweight vehicles would support the region to register a CAGR over 5.17% over the forecast period. Industry/Innovation/ Related News: August 19, 2019 --- SK Capital Partners (the US), a private investment firm focusing on specialty materials & chemicals and pharmaceuticals sectors announced the acquisition of Performance Products & Solutions business (PP&S) from PolyOne Corporation (the US). The purchase of a global leader in plastic compounded solutions has finalized at a transaction value of approximately USD 775 MN. PP&S is an industry leader with a rich heritage in the PVC and polypropylene compounding industry. The deal would further strengthen SK capital through both growth and improvement initiatives similar to its previous several other investments that were corporate carveouts. Have Any Query? Ask Our Expert @ https://www.marketresearchfuture.com/enquiry/4697 About Market Research Future: At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions. Contact: Like it? Share it! More by this author |