Press release
Plastic Compounding Market is Projected to Reach a market value of about US$ 645 Bn by 2025 end
Plastic Compounding Market 2022
The global plastic compounding market is estimated to account for over US$ 420 Bn by the end of 2017 and registering a CAGR of 5.2% during the forecast period (2017-2025), is projected to reach a market value of about US$ 645 Bn by 2025 end.
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Rising Adoption of Plastic Compounds by Electronics and Electrical Sectors to Drive the Market Growth
Demand for plastics is witnessing an immense surge in the consumer goods and food packaging sector, playing an indispensable role in safe transit of products. Flexible packaging accounts for a major group of materials including plastic films, foil, papers, vegetable fibers, and cloths that are capable of being used for making wrappings, sacks, and sealed as well as unsealed bags. Plastic compounds are also utilized in electronics and electrical industries, to manufacture parts of integrated circuits, resistors, and semiconductors.
Rise in technological advancements in electronic devices and gadgets have been influencing growth of the electronics and electrical sectors, thereby fuelling adoption of plastic compounds. In addition, factors such as growing industrialization in developing economies, coupled with soaring demand for infrastructure development, Olefins, and light-weight automobiles are further estimated to augment growth of the plastic compounding market.
However, the costs of plastic compound have been exhibiting a significant rise on the back of fluctuating chemical prices, coupled with high substitution potential of its bio-based counterparts. The governments and environmental agencies have been imposing stringent regulations pertaining to recycling norms of plastics, application scope, and quantity of utilization, which in turn have been impeding the production as well as consumption of plastic compounds across industrial sectors. These factors are estimated to inhibit growth of the market.
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Key Companies-
• BASF SE
• DuPont
• Coperion K-Tron
• Adell Plastics
• S & E Speciality Polymers
• RTP CO.
• Agiplast
• Sojitz Corporation
• Kingfa Science & Technology Co. Ltd.
• Plstiblends India Ltd.
• Ravago
• SO.F.TER. SPA
• Citadel Plastics
• AKRO-Plastic GmbH
• Resinex
Sales of Polymers/Copolymers to Surpass 300,000 Tons by 2025-End
Polymers/copolymers will continue to be sought-after among products in the global plastic compounding market, with sales estimated to surpass 300,000 tons by 2025-end. However, sales of additives will continue to register a comparatively higher CAGR than sales of polymers/copolymers through 2025, in terms of volume. Among additives, colorants will continue to account for largest volume sales during the forecast period.
In terms of volume, automotive application of plastic compounds will remain dominant in the market. Volume sales of plastic compounds in healthcare application will witness the fastest expansion through 2025. In addition, packaging will remain the second largest application of plastic compounds. However, demand for plastic compounds in textile application will remain sluggish over the forecast period.
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APAC to Remain the Most Lucrative Region in the Global Plastic Compounding Market
Asia Pacific (APAC) will continue to be the most lucrative region in the global plastic compounding market, with sales pegged to surpass 250,000 tons by 2025-end. Volume sales of plastic compounds in APAC will register the highest CAGR through 2025, followed by Latin America. In addition, Europe will remain the second largest market for plastic compounds, in terms of volume. The plastic compounding market in Middle East & Africa (MEA) is projected to exhibit a moderate expansion in terms of volume through 2025.
Key Questions Answered in This Report.
What will the Market growth rate in Future?
What are the key factors driving the global Market?
Who are the key manufacturers in Market space?
What are the opportunities and threats faced by the vendors in the global industry?
What are sales, revenue, and price analysis by regions of industry?
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