San
Francisco, 04 April, Plastic Compounding Market Analysis By
Product (Polyethylene, Polypropylene, TPV, TPO, PVC, Polystyrene, PET, PBT,
Polyamide, Polycarbonate, ABS), By Application, And Segment Forecasts, 2018 –
2026.
The global plastic compounding market is expected to reach USD 95.2 billion by 2026, according to a new report by Grand View Research, Inc. Introduction of rapid manufacturing techniques & advanced additive incorporation methodologies is expected to further drive adoption of lightweight, high-performance plastics for production of several consumer products.
Plastics
present a sustainable and low cost alternative to metals, wood and even ceramic
materials utilized in varied industries. Rapid industrialization and expansion
of said industries, including automotive, construction and electronics,
specifically in emerging economies, is likely to influence consumption patterns
& enhance demand over the forecast period.
An
increasing number of R&D activities undertaken by key market participants,
such as the recent introduction of FDA compliant polycarbonate grades by SABIC
for high temperature food contact applications, are expected to revolutionize
the sector. Other companies are expected to follow in SABIC’s wake, adopting
sustainable and compliant manufacturing techniques to meet transitioning
regulatory standards.
Polypropylene
(PP) emerged as the dominant product with over 32% of the volume share in 2016.
The segment is also expected to grow at a high CAGR of around 5% from 2017 to
2026, on account of its high utilization in the ever-expanding automotive
industry. High impact resistance, ease of serviceability and light weight make
this the material of choice for forming crucial automotive components such as bumpers,
chemical tanks, gas cans, and others.
Access Full
Research Report On Plastic Compounding Market Analysis:
http://www.grandviewresearch.com/industry-analysis/plastic-compounding-market
http://www.grandviewresearch.com/industry-analysis/plastic-compounding-market
Further key findings from the report suggest:
·
The global plastic compounding
market exceeded 26 million tons in 2016 and is expected to grow at a CAGR of
5.2% from 2016 to 2026
·
Polyethylene (PE) emerged as
one of the dominant products owing to its high demand in medical applications
and special performance characteristics that make it ideal for niche
applications such as bulletproof vests
·
Thermoplastic vulcanizates
(TPV) are expected to remain the fastest growing products with over 9% CAGR,
witnessing high growth in the automotive & industrial machinery segments
·
Automotive is expected to
retain its dominance in the industry; however, industrial machinery is expected
to overtake the segment in terms of CAGR. The latter is increasingly adopting
lightweight and sustainable plastic materials in the form of fasteners, films,
equipment components and others.
·
Asia Pacific is likely to
remain the dominant region with rapid industrialization in economies such as
India, Vietnam, Thailand, Malaysia and others. The region benefits from close
geographical proximity to European consumer markets, low labor costs and vast
skilled workforce among other factors.
·
The industry is highly
fragmented in nature with over one-third of market share occupied by SMEs
engaged in plastic compounding. Kingfa emerged as a major player, followed by
LyondellBasell and others such as BASF, PolyOne Corporation, SABIC, DuPont, A.
Schulman, Mitsubishi Chemical Corporation, Bayer, China XD, Mitsui Chemicals
and others.
Browse More Reports Of This
Category By Grand View Research At: https://www.grandviewresearch.com/industry/plastics-polymers-and-resins
Grand View Research has
segmented the global plastic compounding market on the basis of product,
application, and region:
Plastic
Compounding Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 -
2026)
·
Polyethylene
o
Automotive
o
Construction
o
Electrical & Electronics
o
Packaging
o
Others
·
Polypropylene
o
Automotive
o
Electrical & Electronics
o
Consumer Goods
o
Industrial Machinery
o
Others
·
TPV
o
Automotive
o
Industrial Machinery (Fluid
Handling)
o
Consumer Goods
o
Medical Devices
o
Others
·
TPO
o
Automotive
o
Industrial Machinery
o
Construction
o
Others
·
Polycarbonate
o
Automotive
o
Electrical & Electronics
o
Construction
o
Packaging
o
Consumer Goods
o
Optical Media
o
Others
·
ABS
o
Automotive
o
Electrical & Electronics
o
Consumer Goods
o
Others
·
Others
o
Automotive
o
Construction
o
Electrical & Electronics
o
Packaging
o
Consumer Goods
o
Industrial Machinery
o
Others
Access
Full Press Release of this Report: https://www.grandviewresearch.com/press-release/global-plastic-compounding-market
About Grand
View Research
Grand View Research, Inc. is a U.S. based market research
and consulting company, registered in the State of California and headquartered
in San Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
For more
information: www.grandviewresearch.com/
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