Press release
Plastic Compounding Market Size, Top Global Key Players Analysis till 2023- INEOS, LANXESS, SABIC, The Dow Chemical Company, Exxon Mobil Corporation
The melt blending of polymers with other additives is known as plastic compounding process. This process is mainly implemented to improve the aesthetic appearance, physical and chemical features of the product.
The different products which are produced from this process are, polyethylene, polyvinyl chloride, polystyrene, polyamide, polycarbonate, polyethylene terephthalate (PET), polybutylene terephthalate (PEB), thermoplastic olefins (TO) and thermoplastic vulcanizates (TV). These products are known for their efficiency, versatile nature and reliable durability. Owing to these features, they are used in various applications such as automotive, electrical & electronics, packaging, medical devices, industrial machinery, and others.
The global plastic compounding market has been driven by the growing consumption of polypropylene and polyethylene in end-use industries. It is predicted that the compounding market is set to witness a higher growth due to an increase in the number of manufacturing units to produce plastic based products.
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Major Key Players:
The Major Players operating in the Plastic Compounding Market are:
• The Dow Chemical Company (U.S.A.),
• Lyondell Basel (the Netherlands),
• Exxon Mobil Corporation (U.S.A.),
• SABIC (Saudi Arabia),
• INEOS (Switzerland),
• BASF SE (Germany),
• Eni S.p.A (Italy),
• Chevron Phillips Chemical Company (U.S.A.),
• LANXESS (Germany)
Market Segmentation:
The Global Plastic Compounding Market is categorized on the basis of Type, Application:
On The Basis Of Type-
• Acrylonitrile Butadiene Styrene (ABS),
• Polyethylene,
• Polyvinyl Chloride,
• Polystyrene,
• Polyamide,
• Polycarbonate,
• Polyethylene Terephthalate (PET),
• Polybutylene Terephthalate (PEB),
• Thermoplastic Olefins (TO),
• Thermoplastic Vulcanizates (TV)
On The Basis Of Application-
• Automotive,
• Electrical & Electronics,
• Consumer Goods,
• Construction,
• Packaging,
• Medical Devices
• Industrial Machinery
Regional Analysis:
Geographically, Plastic Compounding Market is segmented across Five Regions in the world namely:
• Asia Pacific,
• North America,
• Europe,
• Latin America,
• Middle East & Africa.
Asia Pacific holds the majority of the market and is predicted to lead globally due to rising demand from the heavy end industries such as automotive, electrical & electronics, and packaging sectors. Europe is also predicted to witness a massive growth in the plastic compounding market due to the growing use of polyethylene in containers, plastic bottles, packaging, and others.
The North American and Latin American regions has recognized a significant development in the market owing to the growing demand of plastics in end-use industries.
Moreover, the Middle East & Africa is predicted to witness a rapid growth in the market due to growing production of plastics and its penetration in heavy end industries.
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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 products, services, technologies, applications, end users, 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.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
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