Why the Purging Compound Market is set to explode? | by Top Key Players: Asahi Kasei Corporation, VELOX GmbH, Dyna-Purge, Chem-Trend LP, 3M, Purgex, Magna Purge, RapidPurge

Strongly characterized by the shifting preferences toward efficient product manufacturing, Purging Compound Market stands to gain commendable proceeds over the coming years. The potential use of purging compounds in packaging, custom moldings, electronics, and automotive industry to reduce machine downtime, cleaning costs, and raw material wastage are the compelling factors that have prompted manufactures to keenly embrace these compounds.

Reportedly, these purging compounds are extensively used in injection molding process for eliminating air bubbles, un-melted resins, foreign contaminants, and degraded residues from the machine barrels. Analysts predict these factors to remarkably accentuate the product consumption, which by extension will favor purging compound industry growth. Reports reveal the overall purging compound market size to be worth over USD 300 million in 2016.

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Global Purging Compound Market, By Process
o Extrusion
o Injection molding
o Blow molding
Global Purging Compound Industry, By Product
o Mechanical purging
o Chemical purging/ foaming purging
Global Purging Compound Market, By Form
o Liquid
o Powder
o Granules
Global Purging Compound Industry, By End-Use
o Automotive
o Healthcare
o Consumer goods
o Electronics
o Packaging
o Custom molding

Frontrunners in the Purging Compound Industry:

Asahi Kasei Corporation, VELOX GmbH, Dyna-Purge, Chem-Trend LP, E. I. Du Pont de Nemours, 3M, Purgex, Magna Purge, RapidPurge, Reedy Chemical Foam & Specialty Additives, CALSAK Corporation, Formosa Plastics Corporation, The Dow Chemical Company, Daicel Corporation, Kuraray, Clariant AG, Ultra System SA, Polyplast Muller GmbH, Slide Products

Apart from APAC, North America has also been touted to be one of the most potential regions driving purging compound industry share. Reports claim North America purging compound market to have had a valuation of over USD 100 million in 2016, chiefly because of the high demand for plastics processing equipment in the region. On account of the growing use of commercial purging compounds, the regional industry players are focusing on design and development of products that would boost the productivity of plastic molding operations. For instance, in 2016, Dyna-Purge, a leading division of Shuman Plastics Inc., introduced a compound, dubbed as Dyna-Purge A, for effective polypropylene color transition.

Reportedly, the innovative purging product combines key properties of both the chemical and mechanical purging systems that can prove beneficial in breaking down the color contamination and improving part quality.

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Speaking of the prominent companies expanding their reach in the global purging compound industry, Velox GmbH (Hamburg, Germany) is a major leader that has recently developed a new purging compound, CleanPlus Express, for extrusion lines. The compound helps accelerate material & color changes as well as flush out old deposits. Moreover, the compound is also used to enable trouble-free start-up and machinery shutdowns. The company in 2016, also introduced a new purging compound that can save as much as 50% of time and money compared to other purging products.

These instances of product developments bear testimony to the fact that technological innovations spanning across the myriad application arenas is a vital factor impacting purging compound industry growth globally. In terms of commercialization, Global Market Insights, Inc., forecasts purging compound market to surpass a valuation of USD 600 million by 2024.

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About Global Market Insights:
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.

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