Press release
What's driving the Plastic Compounding Market Share ? BASF, Solvay, Dow Chemical, LyondellBasell Industries, SABIC, RTP Company, A. Schulman
Plastic compounding market will witness substantial demand in consumer goods by 2024. Plastics are used in consumer goods for a wide range of applications, including food packaging, furniture, household appliances, toys, etc. Packaging is integral to the delivery of safe, high-quality consumer products. Various household electrical appliances will have substantial demand for plastics in the coming years. PVC is widely used to insulate electric wiring, while thermosetting plastics are used for switches, light fittings and handles. 3D printing applications, innovative packaging techniques for consumer goods and surging demand for bioplastics will be few significant trends driving the global plastic compounding market by 2024.
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Plastic Compounding Market will surpass USD 50 billion by 2024; according to a new research report. Plastics usage has increased twentyfold in the past half-century and is expected to double again in the next 20 years. Plastic compounders play a vital role in enhancing the performance of plastic resin with key additives to meet the end-user industry needs. Global plastic compounding market will be propelled by rising automotive industry by 2024. Plastic compounding consumption per vehicle in the U.S. was roughly USD 52 per vehicle in 2016.
North America constituted approximately 18% of the global market share for plastic compounding in 2016. Presence of packaging giants as International Paper, Tetrapak, Reynolds Group, Ball Corporation and Owens-Illinois will have a positive impact on plastics demand in the region. Rising thermoplastic elastomer usage in sports equipment, paving & roofing, personal hygienic products and medical equipment will boost the regional plastic compounding market growth. Strong demand for 3D printing from aerospace and defense, healthcare, education, and consumer products industries will also boost the plastic compound market particularly in the U.S.
Currently, an average car consists of around 10-15% plastics of total car weight. The tendency to use plastic in automotive will increase in the forecast timeframe due to government initiatives across the globe to reduce vehicular emissions by reducing automotive weight.
Thermoplastic elastomers segment was valued more than USD 7 billion in 2016. Thermoplastic elastomers have progressed as a substitute for metal, synthetic or natural rubber, wood, glass, etc. Cumulative expenditure in medical, automotive and construction sectors in addition to the supervisory compliances for sustainable product development will propel the plastic compounding market for thermoplastic elastomers by 2024.
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Consumer goods was a key end-user segment in global plastic compounding market in 2016. The segment generated above USD 7 billion in 2016 and is projected to witness extensive gains by 2024. Plastic compounding market for consumer goods will have substantial demand for packaging, household appliances, furnishing applications, etc. in the coming years. Consumer goods is projected to be the fastest growing segment over the forecast period.
Significant market players include: A. Schulman, RTP Company, Dow Chemical, LyondellBasell Industries, BASF, SABIC, Solvay, etc. Various research initiatives are constantly taken up by companies to improve the production capacity. For instance, in February 2016, A. Schulman expanded compounding capacity at its Kerpen plant in Germany, by adding two new production lines. the company had invested in a fully automatic packaging line in addition to the twin screw extruders, In December 2015, A.
Schulman expanded the capacity of its polypropylene compounding plant in Saudi Arabia in a joint venture with Saudi resin maker National Petrochemical Industrial.
Table of Content:
Chapter 1. Methodology and Scope
1.1. Methodology
1.1.1. Initial data exploration
1.1.2. Statistical model and forecast
1.1.3. Industry insights and validation
1.1.4. Definitions & forecast parameters
1.1.4.1. Definitions
1.1.4.2. Forecast parameters
1.2. Data sources
1.2.1. Primary
1.2.2. Secondary
Chapter 2. Executive Summary
2.1. Plastic compounding industry 360° synopsis, 2013 – 2024
2.1.1. Business trends
2.1.2. Product trends
2.1.3. End-user trends
2.1.4. Regional trends
Chapter 3. Plastic Compounding Industry Insights
3.1. Industry segmentation
3.2. Industry size and forecast, 2013 - 2024
3.3. Industry ecosystem analysis
3.3.1. Vendor matrix
3.3.2. Distributor channel analysis
3.4. Industry impact forces
3.4.1. Growth drivers
3.4.1.1. Growing construction industry
3.4.1.2. Increasing product application in automotive sector
3.4.2. Industry pitfalls & challenges
3.4.2.1. Environmental regulations regarding plastic recycling and application scope
3.4.2.2. Oscillating crude oil prices
3.5. Bio-based plastic compounding market potential & scope
3.5.1. Technology landscape
3.5.2. Penetration price
3.5.3. Commercialization status
3.5.4. Potential customers
3.6. Regulatory trends
3.6.1. U.S.
3.6.2. Europe
3.6.3. China
3.7. Pricing analysis
3.7.1. Regional pricing
3.7.2. Cost structure analysis
3.8. Innovation & sustainability
3.9. Growth potential analysis
3.9.1. Patent landscape
3.10. Porter’s analysis
3.11. Competitive landscape, 2016
3.11.1. Strategy dashboard
3.12. PESTEL analysis
Chapter 4. Plastic Compounding Market, Product By End-user
4.1. Plastic compounding market share of product by end-user, 2016 & 2024
4.2. Thermoplastic polymers
4.2.1. Market estimates and forecasts of product by end-user, 2013 – 2024
Related Report:
Custom Thermoplastic Compounding Market Insights 2019, Global and Chinese Analysis and Forecast to 2024
Custom Thermoplastic Compounding Market Insights 2019, Global and Chinese Scenario is a professional and in-depth study on the current state of the global Custom Thermoplastic Compounding industry with a focus on the Chinese market. The report provides key statistics on the market status of the Custom Thermoplastic Compounding manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry.Overall, the report provides an in-depth insight of 2014-2024 global and Chinese Custom Thermoplastic Compounding market covering all important parameters.
https://www.marketstudyreport.com/reports/custom-thermoplastic-compounding-market-insights-2019-global-and-chinese-analysis-and-forecast-to-2024?utm_source=RR-SP
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