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Plastic Compounding Market Size, Share & Analysis 2018 | Global Leading Players - The Dow Chemical Company, Lyondell Basel, Exxon Mobil Corporation, SABIC, INEOS, BASF SE, Eni S.p.A, Chevron Phillips Chemical Company, LANXESS
Plastic Compounding Market Research Report- Forecast to 2023
Plastic Compounding, a process used for manufacturing plastic formulations is witnessing an augmenting prominence nowadays, basically due to the increasing use of the plastic material in the day to day life. The versatile & Cost-effective plastic material owing to its durability & aesthetic looks has almost completely replaced glass & metal materials from the households as well as across the industries. Plastic has become an inseparable part of modern lives, availing millions of items available at disposable. This very well explains the prominence of the plastic material & hence the Plastic Compounding process.
Needless to say, Plastic Compounding is a dynamic & ever increasing market. All product types of Plastic Compounding are consumed extensively across industries. Major end user industries of these products are manufacturing of Plastic decking, pipes, toys, window profiles, packaging, cable ducts, films, and automotive components etc. The already burgeoning Plastic industry will continue to grow endlessly due to the inclusions of plastic products in our day to day life. And Compounding being a pivotal aspect of this industry is bound to grow in accordance with the same. This explains the future landscape for the Plastic Compounding Market and the galore accruals the market is about to perceive.
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Industry/Innovation/ Related News:
April 05, 2018 – Albis Plastic (Germany), one of the leading global providers of distribution and compounding of engineering thermoplastics and TPE announced its plans for expanding the compounding capacity of its Chinese plant in Changshu, Jiangsu. The company’s expansion strategy is based on the strong growth opportunities witnessed in China & other APAC regions. The company further confirms that the two new extrusion lines will increase the local production capabilities significantly.
February 13, 2018 – Techmer PM, LLC. (US) one of the global industry leaders and materials design company brought about a striking innovation that will help bringing recovered marine plastics into an HDPE bottle for personal care products. Now, the recovered plastics (branded OceanBound) will be used to package Vita brand shampoos and conditioners. The compounding expertise by Techmer presages at the promise of applying innovation to address some of the world’s most pressing pollution challenges.
Worldwide Plastic Compounding Market - Regional Analysis
Globally, Asia Pacific accounted for the leading market for Plastic Compounding with the largest market share in 2016. This growth attributes to the burgeoning automotive, construction, and packaging industries in the APAC Countries such as China, Japan, and India coupled with the growing consumption of polypropylene and polyethylene in these sectors.
In 2016, Europe &North America accounted for the 2nd & 3rd largest markets respectively in the global Plastic Compounding market. Owing to its increasing demand for polypropylene and polyethylene in heavy end industries, the Europe market has experienced a substantial growth in the global market.
Whereas North America Market holds a significant share in the Global Plastic Compounding Market. The region accounted for a considerable market share in 2016, owing to the growing demand for plastics in automotive, construction, packaging, industrial machinery, and aviation sectors.
The MEA region, owing to the augmenting use of polypropylene and polyethylene in O&G, construction, sports, electrical & electronics, defence, and marine among other industries.
On the other hand, growing consumption of polypropylene in automotive and construction sectors is escalating the Latin American market of plastic compounding to witness a radical growth during the forecast period.
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