Plastic Compounding Market expansion at 5.2% CAGR during the forecast period 2023 to 2033|PMR

The global Plastic Compounding Market is estimated to exhibit a moderate expansion at 5.2% CAGR, in terms of volume, during the forecast period 2023 to 2031, according to a recent analysis by Persistence Market Research. Global sales of plastic compounds are projected to reach nearly 300,000,000 tons in 2023 by 2031 this number is further anticipated to account for around 500,000,000 tons.

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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.

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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.

Key players in the global plastic compounding market as identified by PMR's report include

• 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
• Arkema Group
• Asahi Kasei Corporation
• Celanese Corporation
• Covestro, DSM N.V.

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.

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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.

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.

Table of Content of this Report:

• Plastic Compounding Market Overview and Analysis [ Market Size | Market Y-o-Y Growth | Market Dynamics]
• Plastic Compounding Market Overview and Analysis [ Supply Chain | Cost Structure | Pricing Analysis | Raw Material Sourcing Strategy and Analysis | List of Distributors]
• Global Plastic Compounding Market Analysis and Forecast By Product Type
• Global Plastic Compounding Market Analysis and Forecast By Application Type
• Global Plastic Compounding Market Analysis and Forecast By Region [ Europe | North America | APAC | Middle East and Africa]
• Global Plastic Compounding Market Company Share, Competition Landscape and Company Profiles
• Research Methodology
• Secondary and Primary Sources
• Assumptions and Acronyms

Increasing plastics demand in construction, automotive and electrical & electronics sectors is expected to be a major factor driving global plastic compounding industry growth. Synthetic polymers such as PVC, PE, PC, PP, and PU have been traditionally used in various applications such as packaging, electronic components, automotive components, toys, furniture and construction materials.

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