Plastic Compounding Market by 2029 with Outlook and Trends with Analysis of Leading Market Players: LyondellBasell Industries NV, ABIC, Borealis etc.
The incremental growth in bioplastics has leveraged the plastic compounding market and is expected to grow at a steady pace in the coming years.
Plastic has become an essential commodity in the daily lives of billions, it is extensively used in various applications after undergoing a particular process called compounding. Compounding enables modification of plastic properties in order to fulfill specific requirements. For example, after plastic compounding, it is possible to change the conductivity of plastic or its flame retardation property. Plastics in their base form are mixed with additives to enhance their properties, using extrusion.
The global packaging industry is utilizing the power of compounding to its fullest potential. Different types of plastic totes, storage boxes or clear case covers are being manufactured to provide options for customers in strength, flexibility, clarity, stress whitening. These plastics are compounded also in compliance with food regulations which has turned out favorable for the industry. According to Plastics Europe, demand for plastic in Europe in 2018 was around 51.2 Million Tons of which 39.9% of the share was accounted for packaging industry.
Another driver for plastics is its use in the cosmetics industry. According to American Society of Plastic Surgeons (ASPS), around 18 million people in the U.S. underwent surgical and minimally invasive cosmetic procedures in 2018. Companies are constantly trying to develop new and advanced plastics through compounding that can cater to the cosmetic industry.
The 'Straits Research' report focuses on target groups of customers to help players effectively market their products and achieve strong sales in the Global Plastic Compounding Market. It segregates useful and relevant market information as per the business needs of players. Readers are provided with validated and revalidated market forecast figures such as CAGR, Heavy Load Moving Skates market revenue, production, consumption, and market share.
Our accurate market data equips players to plan powerful strategies ahead of time. The Plastic Compounding report offers a deep geographical analysis where key regional and country-level markets are brought to light. The vendor landscape is also analyzed in-depth to reveal current and future market challenges and Plastic Compounding business tactics adopted by leading companies to tackle them.
The world is moving towards sustainability. So is the plastic compounding business. Bio-based plastics are quickly becoming the go to alternative material. As per European Bioplastics, the global bio-based plastic production in 2019 was 941,000 tons as compared to 934,000 tons in 2018. Bio-based plastics particularly bio-based polypropylene (PP) and bio-based polyamides (PA) has witnessed considerable growth. The use of bio-based plastics has allowed end-users to reduce their carbon footprint and enabled them to carry out waste management effectively.
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The Major Prominent Players Covered in this Report:
LyondellBasell Industries NV, ABIC, Borealis, INEOS, LG Chem, DuPont, Exxon Mobil, BASF SE, Asahi Kasei Corporation, Versalis S.p.A (Eni S.p.A), Celanese Corporation, Covestro AG, Dow Chemical Compnay, 3M (Dyneon GmbH), Chevron Phillips Chemical Company, LANXESS AG, Total SA, Polyone Corporation, Kingfa Sci. and Tech. Co., Ltd, F.TER. Group, Mexichem Specialty Compounds Inc, Polyvisions Inc., Clariant Plastics & Coatings Healthcare Polymer Solutions & More.
NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post the COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.
Plastic Compounding Market Segmentation-
By Product- Thermoplastic Polymers, Thermoplastic Elastomers, Polyamides, Polyurethanes, SBC, Polyethylene, Polypropylene, Polyester, Polycarbonate, Polyethylene terephthalate, Polyvinyl chloride (PVC), Thermosetting polymers, Polyurethane resin, Epoxy resin,
By End-User- Packaging, Construction, Automotive, Electronics, Agriculture, Consumer Goods
Geographically, this report is segmented into several key regions, with sales, revenue, market share and growth rate of Steerable Medical Devices in these regions, from 2021 to 2029, covering:
North America (United States, Canada and Mexico)
Europe (Germany, UK, France, Italy, Russia and Turkey etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
View this report with a detailed description and TOC @ https://straitsresearch.com/report/plastic-compounding-market/toc
Key Plastic Compounding Market Trends:
- The report identifies, determines, and forecasts the Global Plastic Compounding Market segments based on their type, sub-type, technology used, applications, end-users, and regions.
- Industry to Industry Holds Largest Share in the Plastic Compounding Market
- It examines the micro-markets based on their growth trends, development patterns, future prospects, and contribution to the overall market.
- Demand from Regional / geographical is Expected to Drive the Growth
- Rising Adoption of Market Segments in this Growth
- North American, Europe is Expected to Witness Higher Growth Rate over the Forecast Period
- It studies the competitive developments such as partnerships and collaborations, mergers and acquisitions (M&A), research and development (R&D) activities, product developments, and expansions in the Global Plastic Compounding Market.
Borealis (Vienna) and Borouge (Abu Dahbi) in Nov 2019, launched compounds that are suitable for healthcare applications allowing mazimum customization as per the required standards. Albis Plastic in June 2018, announced the launch of product portfolio for catering healthcare applications. Clariant Plastics & Coatings Healthcare Polymer Solutions Feb 2020, introduced a medical polymer resistant to hydrolytic degradation.
Polyone in May 2020 announced the launch of a specialty elastomer that offers high-temperature compression set performance, easier processing, and a lighter weight solution.
Polyone in May 2020 also introduced a laser weldable polyamide that improves weld strength and aesthetics for welded parts. This material can be used in applications such as automobile, consumer goods and medical devices.
Clariant’s additive business and Floreon-Transforming Packaging Ltd. announced a collaboration in March 2020 to develop bio-polymer applications keeping in mind the sustainability targets and catering to consumer demand for environmentally friendly products, especially in flexible packaging.
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