Plastic Compounding Market Trends with Growth Statistics 2021, Industry Size, Business Demand, Top Countries Data with Share Evaluation, Key Segmentation and Competitive Strategy till 2027

Report Ocean publicize new report on the global Plastic Compounding Marketreport contains numerous information about factors, such as market restraints, drivers, and opportunities. In addition, the report provides an in-depth review of industry developments and trends in the market that are influencing the global Plastic Compounding Market growth.

According to a new report published by Report Ocean, titled,”Plastic Compounding Market by Polymer Type and End Use: Global Opportunity Analysis and Industry Forecast, 2019 – 2026,”the global market was valued at $565,416.7 million in 2018, and is projected to reach $932,330.5 million by 2026, growing at a CAGR of 6.4% from 2019 to 2026.

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Plastic compounding is a process of preparing plastic formulations by blending polymers and additives in a molten state. These blends are automatically treated with fixed set points usually through feeders. It is usually a blend of copolymers such as styrene acrylonitrile resin (SAN), acrylonitrile butadiene styrene (ABS), and styrene maleic anhydride (SMA) with additives such as UV-stabilizers, antioxidants and other value adding agents and sometimes strengthening component such as glass fiber, is added.

In addition, rapid industrialization as well as urbanization and expansion of automotive, electronics & electrical and construction industries are some of the key factors that supplement the growth of the plastic compounding market. Moreover, plastic is used in the construction sector in floorings, insulation materials, storage tanks, performance safety windows, doors, pipes, and cables. This factor has led to increase in demand for plastic compounds and is expected to drive the growth of the market. In addition, owing to the properties such as light weight, resistance to fatigue and better chemical and temperature resistance have led to increase in use of plastic compound in automobile and electronic and electrical industries. This factor is anticipated to increase the demand for plastic compounds in future.

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Based on polymer type, the market is segmented into polypropylene (PP), polyethylene (PE), polyvinyl chloride (PVC), polystyrene (PS) and expanded polystyrene (EPS), polyethylene terephthalate (PET), polyurethane (PU), acrylonitrile butadiene styrene (ABS), and other polymers. The polypropylene is widely used in automotive applications owing to the properties such as light weight, good fatigue resistance, and resistance to chemical and high temperature.

Based on end use, the market is segmented into automotive, building and construction, packaging, electrical & electronics, medical and others. The packaging segment is expected to grow owing to increase in expenditure of consumers and improvement in standard of living that has fueled the demand for packaged food & beverages across developing countries such as China and India. In addition, growing demand for automobiles across Asia-Pacific and European region has also increased the demand for plastic compounds in packaging of automotive interiors. These factors are projected to increase the plastic compounding market growth, which positively impacts this market.

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Based on region, the plastic compounding market trends is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific accounts for a major share in the market due to increase in demand for plastic compounds in the developing economies such as India and China, owing to development of the construction, automotive and electronic & electrical industries. This factor is anticipated to increase the Asia-Pacific plastic compounding market size from 2019 to 2026.

COVID-19 Impact

The COVID-19 pandemic in 2019 engulfed the world. It caused a worldwide halt. The entire global economy was affected. In addition, many people have also lost their lives. Around 252,297,094 cases and 5,091,465 deaths have been reported worldwide so far for COVID-19. The pandemic spread to almost every country in the world. In most industries, the pandemic resulted in some form of loss. As a result of the pandemic, the global Plastic Compounding Market also experienced a slowdown. Statista estimates that the chemical industry’s total worldwide revenue stood at approximately US$ 3.94 trillion in 2019. In 2014, the chemical industry generated revenues of US$ 5.4 trillion at a record high.

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The degree of competition among prominent global companies has been developed by analyzing several leading chemical market, including market competition, market share, the most recent advancements in the industry, innovative product launches, partnerships, mergers, and acquisitions by leading companies.

Market players have adopted expansion, acquisition, and collaboration as their key strategies to gain competitive advantage in the plastic compounding industry. The key players operating in the market include Asahi Kasei Corporation, BASF SE, Celanese Corporation, Covestro AG, DowDuPont Inc., Kingfa Sci. and Tech. Co., Ltd., LyondellBasell Industries Holdings B.V., Polyone Corporation, SABIC and Solvay SA


Key Findings of the Plastic Compounding Market:

Based on region, the Asia-Pacific plastic compounding market share is predicted to account for a share of 42.31% by the end of 2026.

Based on polymer type, the polypropylene segment is expected to account for a share of 23.29% by the end of 2026.

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Key questions answered in the global Plastic Compounding Market report are:

How does a global company acquire markets?

What are its core strategies and policies?

What factors will influence the chemical market over the forecast period?

What are the factors driving and restraining the market for chemicals?

What are the leading competitors in the global market?

Which region is growing at a higher pace in the global market?'

This report covers aspects of the regional analysis market.

The report includes data about North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.

This report analyzes current and future market trends by region, providing information on product usage and consumption.

Reports on the market include the growth rate of every region, based on their countries over the forecast period.

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What factors are taken into consideration when assessing the key market players?

The report analyzes companies across the globe in detail.

The report provides an overview of major vendors in the market, including key players.

Reports include information about each manufacturer, such as profiles, revenue, product pricing, and other pertinent information about the manufactured products.

This report includes a comparison of market competitors and a discussion of the standpoints of the major players.

Market reports provide information regarding recent developments, mergers, and acquisitions involving key players.

What are the key findings of the report?

This report provides comprehensive information on factors expected to influence the market growth and market share in the future.

The report offers the current state of the market and future prospects for various geographical regions.

This report provides both qualitative and quantitative information about the competitive landscape of the market.

Combined with Porter's Five Forces analysis, it serves as SWOT analysis and competitive landscape analysis.

It provides an in-depth analysis of the market, highlighting its growth rates and opportunities for growth.

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