Plastic Compounding Market Size, Share and 2020 Trends Analysis | Industry Forecast to 2027
Plastic
Compounding Market will exhibit a CAGR of 6.5% during the forecast period and
reach USD 87.11
billion by 2026, and the market value as per 2018
was USD 52.74
billion.
Fortune
Business Insights™ provided the above information in a recently published
report, titled, “Plastic Compounding
Market Size, Share & Industry Analysis, By Type (Polyethylene,
Polypropylene, Poly Vinyl Chloride, Polystyrene, Polyethylene, Polybutylene
Terephthalate, Polyamide, Polycarbonate, Acrylonitrile Butadiene Styrene, and
Others), By Application (Automotive & Transportation, Infrastructure &
Construction, Electrical & Electronics, Packaging, Consumer Goods /
Lifestyle, Industrial Machinery, Healthcare & Pharmaceuticals, and Others),
and Regional Forecast, 2019-2026.”
Plastic Compounding Market Drivers and Restraint :
Increasing Number of Commercial & Residential Projects to
Augment Growth
Nowadays,
plastics are being used extensively in the insulation of infrastructures and
buildings. Several products required for construction are made mainly by
utilizing plastics. These include pipes, cables, doors, safety windows, and
flooring. Compounded plastics possess numerous features that are similar to
steel. They are resistant to harsh environmental conditions and rust, have
robust strength, and are smooth in texture.
In
today’s world, the population is growing at a rapid rate across the globe. It
is, in turn, upsurging the number of residential and commercial projects. Coupled
with this, the rising awareness programs about state-of-the-art interiors are
growing amongst the consumers. These factors are set to augment the plastic
compounding market growth during the forthcoming years. However, the prices of
raw materials required to produce compounded plastics keep on fluctuating. It
may obstruct the market growth.
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List of Significant Manufacturers Plastic Compounding Market are:
- LANXESS
A.G.
- BASF
SE
- PolyVisions
- Asahi
Kasei Corporation
- Aurora
Plastics LLC
- SABIC
- LyondellBasell
- Kingfa
SCI. & TECH. CO., LTD.
- DuPont
- Celanese
Corporation
- RTP
Company
- Solvay
S.A.
- KURARAY
CO., LTD.
- Kraton
Corporation
- Covestro
AG
- Kraton
Corporation
- MRC
Polymers
- Adell
Plastics
- Other
Key Players
Regional Analysis-
Asia Pacific to Dominate Owing to High Demand for Low Emission
Vehicles
Geographically,
the market is divided into Europe, Asia Pacific, the Middle East and Africa,
North America, and Latin America. Amongst them, Asia Pacific is anticipated to
generate the highest plastic compounding market revenue in the coming years.
The majority of this growth would be contributed by China and India, mainly
because of the rising demand for low emission vehicles. It is helping the
automotive sector to expand.
Asia
Pacific is considered to be the largest producer of construction, automobiles,
industrial machinery, electrical & electronics, and packaging materials.
Coupled with this, the ongoing economic development and growing
industrialization are set to impact the market positively in this region. The
U.S. in North America previously held the largest share stoked by high demand
for plastic compounding from healthcare & pharmaceutical, as well as
electrical & electronics industries. The region procured USD 10.02 billion
market share in 2018. In Europe, Germany is likely to be the main contributor
of growth on account of the rising production of electric vehicles.
Browse Complete Summary of research Report: https://www.fortunebusinessinsights.com/plastic-compounding-market-102550
Competitive Landscape-
Lanxess Inaugurates New Plant in China; LyondellBasell Acquires A.
Schulman, Inc.
Reputed
companies present in the market are either investing huge sums in building
brand new plants or are engaging in the strategy of mergers and acquisitions to
widen their geographic reach and product portfolio.
Some of the key industry developments in the Plastic
Compounding Market Include:
- September
2019: Lanxess Aktiengesellschaft, a specialty chemical
company, based in Germany, inaugurated its new plastic plant in China. The
facility will produce Pocan- and Durethan-branded high-quality plastics,
mainly for the electrical and electronic industry, as well as the
automotive sector.
- February
2018: LyondellBasell Industries N.V., a multinational
chemical company headquartered in the Netherlands, acquired A. Schulman,
Inc., an American supplier of plastic compounding products based in the
U.S. The total deal was worth USD 2.25 billion. It would help the former
in broadening its geographic presence.
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