Press release
Purging Compound Market Worldwide Forecast By Major Plastics & Chemicals Companies: Asahi Kasei, VELOX, Dyna-Purge, Chem-Trend, DuPont and many more.
Global Market Insights, Inc.
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Increasing necessity to reduce machine downtime, cleaning costs and raw material wastage will drive global purging compound market growth. Rapidly increasing demand for consumer goods, automotive, electronics, and healthcare products will propel purging compound market growth.
Removing degraded residues, contaminants, un-melted resins, air bubbles, true gels, un-dispersed additives & modifiers and moisture from machine barrels are key concern supporting product penetration. Stringent government norms including Corporate Average Fuel Economy (CAFE) protocols for automobile manufactures will influence industry growth.
Extrusion process will observe growth over 6.5% up to 2024. Ease of carbon removal and faster color & material changes will propel product demand for this segment. Potential outlook in comprehensive thermoplastics processing including GPPS, PP, PC, PA and ABS will propel industry growth.
Mechanical purging is anticipated to exceed USD 400 million by 2024. Rising application of high viscosity plastics to eliminate polymer from barrels and screws will support product penetration. Factors such as safety and quality coupled with efficient plastic resin & contamination removal will drive segment demand. Moreover, expansion of manufacturing industries will boost purging compound market growth.
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Granules form demand was more than 6 kilo tons in 2016. Increasing necessity to remove unwanted carbon build up from the plastic extrusion machines will drive product demand. It also serves as cost effective method for treating several chemicals present in granule structure of ultra-high purity purges. In addition, the form is widely utilized for producing specialized cleansing materials, thus boosting global purging compound market. Instable raw material costs due to fluctuating crude oil prices may hamper global purging compound market growth.
Automotive accounted for over 20% industry share in 2016. Increasing government regulation to cut down carbon emissions improve vehicles fuel efficiency driving plastics demand for automotive manufacturing. Rising demand for injection molded plastic parts in automotive industry surged plastic processing machinery applications. which is further expected to drive the product demand. Rising application of purging compounds in injection molding machine to reduce carbon build-up & minimize total changeover time will drive segment growth.
Analysis of Plastics & Chemicals Industry Players -
Global purging compound market share is moderately fragmented with large presence of manufacturers and suppliers. Key industry participants are E. I. Du Pont de Nemours, Chem-Trend LP, Dyna-Purge, VELOX GmbH and Asahi Kasei Corporation. Other prominent players include Dow Chemical, 3M, Purgex, Daicel, Kuraray, RapidPurge, Clariant AG, Formosa Plastics and Magna Purge.
Regional Market Analysis -
Asia Pacific will witness a CAGR over 7% up to 2024. The regional growth attributed to rapid industrialization of numerous industries including automotive, construction, food & beverages, chemicals and petrochemicals. Increasing product application scope to reduce machine downtime and expand production efficiency in these industries will stimulate global purging compound market.
Commercialization and new product launches supported by government funding in several emerging economies including India, China, Thailand, South Korea and Brazil will provide lucrative opportunities for manufacturers.
Browse key industry insights spread across 350 pages with 299 market data tables & 12 figures & charts from the report, “Global Purging Compound Market Size By Process (Extrusion, Injection Molding, Blow Molding), By Product (Mechanical, Chemical / Foaming), By Form (Liquid, Powder, Granules), By End-Use (Automotive, Healthcare, Consumer Goods, Electronics, Packaging, Custom Molding), Industry Analysis Report, Regional Outlook (U.S, Canada, Germany, UK, France, Italy, Spain, Poland, Benelux, China, India, Japan, South Korea, Thailand, Brazil, Mexico, Argentina, Saudi Arabia, UAE, Kuwait, Oman, South Africa), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/purging-compound-market
About Global Market Insights, Inc. -
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Contact us -
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: www.gminsights.com
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