Douglas, Isle Of Man, Jan. 31, 2023 (GLOBE NEWSWIRE) — Plastic compounding is a method of customizing plastics to achieve desired shapes, properties and colors. The assembly process is done by melting plastic and additives, such as antioxidants. The mixture is then mixed using two-screw presses at high speed. Finally, melt the mixture and cool before cutting and packing.
The plastic compounding process is widely used in manufacturing industries. Products such as toys, electrical appliances, furniture, etc., are all manufactured using a plastic compound. This process also creates finishing products for automotive interior and exterior applications. The consumption of composite plastics is gaining extensive growth due to the demand for efficient packaging for electrical and electronic products, food, beverages, textiles and consumer products.
As of 2021, the global Market for plastic compounds It was valued at $61.90 billion. However, the global market for plastic compounds is expected to reach $102.18 billion by 2030 with a CAGR of 5.7%.
The significant factors fueling the global plastic compound market include electronic, construction and automotive demand. The demand for plastic compound is increasing due to the physical properties of the plastic, such as flame retardancy, light weight and durability. In addition, demand for plastic compounds is booming in downstream sectors such as construction, automotive, electronics, electrical and packaging.
Furthermore, a plastic called polyethylene terephthalate (PET) is widely accepted because it is safe, flexible, stable, lightweight and non-toxic. PET is used to make packaged drinks; As a result, it expands the growth of the global market for plastic compounds. Also, plastic is used to insulate the structure in the infrastructure company, and lightweight plastic is used in the automobile industry to reduce fuel emissions, speed up fuel efficiency, and extend the life of vehicle components.
As a result, the global market for plastic compounds is expanding worldwide.
Browse to access an in-depth research report on the Global Plastic Compounds Market with detailed charts and figures: https://douglasinsights.com/plastic-compounding-market
With advances in polymerization catalyst technologies, polyethylene and other polymer resins will perform better, be more flexible and produce more, allowing the significant players in the industry an excellent opportunity to increase results and compete with each other in the market.
However, the fluctuating prices of the raw materials hinder the growth of the global market for plastic compounds due to the change in petrochemical prices and the high volatility of their biological competitors. The economic slowdown due to COVID-19 has also affected the global market for plastic compounds. The epidemic affected the cost of raw materials, production in the manufacturing industries and demand and supply. Due to travel restrictions, a significant drop in crude oil prices was observed.
The global market for plastic compounds is segmented based on manufacturing process, product type, additive type, source, and application.
Asia-Pacific shared the largest revenue of 45% in 2021, dominating the global plastic compounds market. Plastics manufacturing and electronic device manufacturing industries in the Asia-Pacific region have contributed to market dominance. Germany is the most significant driver of the global market for plastic compounds in Europe, followed by the US.
Key players in the global plastic compounds market include BASF SE, DuPont, Arkema, Adell Plastic Inc., Aurora Plastics LLC, Exxon Mobil Corporation, Ravago, LyondellBasell Industries Holdings BV, Celanese Corporation, HEXPOL AB, Covestro AG and LG Chem.
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A comprehensive report on the global market analysis for plastic compounds is available on the Douglas Insights website. The report uses 2020 as the base year; The data estimates market size and revenue, and provides a detailed overview up to 2026. Revenue is expressed in billions of US dollars, while volume is in billions of pounds.
The report segments the market by region, plastic type and application. Regions include North America, Asia-Pacific, Europe and the rest of the world.
The application includes packaging, electrical and electronics, automotive, building and construction, and consumer products.
Browse to access an in-depth research report on the Global Plastic Compounds Market with detailed charts and figures: https://douglasinsights.com/plastic-compounding-market
At the same time, the global market for plastic compound applications includes high-volume commodity resins, including high-density polyethylene, low-density polyethylene, polypropylene, polystyrene, polyvinyl chloride, and others.
The report provides insight into thermoplastic elastomers and some bio-based compounds or plant-based polymers instead of hydrocarbon-based.
The report contains 97 data tables and 25 additional tables to fully understand the market performance. The report highlights the market dynamics, drivers, gaps and opportunities to assess current and future demand. The impact of COVID-19 on the manufacturing industries of the global plastic compound market is also discussed. The companies include packaging, automotive, building and construction, electricity and electronics.
An overview of plastic additives used in plastic composites is mentioned in the report, including high density polyethylene, low density polyethylene, linear low density polyethylene and many more. In addition, the plastic compound market requires technological advancements and equipment.
The report provides insight into the environmental and regulatory trends that have an impact on chemicals. Moreover, the report also recognizes the major resin manufacturers and major plastic manufacturers. Information on the activities, product offerings and projected sales of the leading independent components is also explained.
You can also find data on specific regions – especially countries that are fueling the growth of the global market for plastic compounds. These countries include North America, the United States, Canada, Europe, Germany, France, the United Kingdom, Asia-Pacific, China, India, Japan and the rest of the world.
In addition, the report provides a detailed company overview of the significant suppliers of plastic additives and fillers in the global plastic compounds market. The companies include BASF SE, Toray Industries Inc., Mitsui Chemicals, Clariant AG, LyondellBasell and SABIC.
Every company operating in the field of plastic compounds should add the Douglas Insights report on the global market for plastic compounds. The report will help you make smart decisions, better judgment for your business and better understand market trends in this sector.
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The countries covered in the report are below:
- North America – United States, Canada and Mexico
- Europe – Great Britain, Germany, France, Italy, Russia, Spain and the rest of Europe
- Asia-Pacific – China, India, Japan, South Korea, Australia and the rest of APAC
- Latin America – Brazil, Argentina, Peru, Chile and the rest of Latin America
- Middle East and Africa – Saudi Arabia, United Arab Emirates, Israel, South Africa
Segmentation covered for the global plastic compounds market-
Chapter 5 Plastic Compounds Market Analysis by Type
- Overview
- Polyethylene
- High density polyethylene
- Low density polyethylene
- Low density linear polyethylene
- Polyethylene compound
- Polyethylene manufacturers
- Street market
- Polypropylene
- Polypropylene copolymers
- Typical applications
- Polypropylene properties
- Polypropylene compound
- Polypropylene manufacturers
- Street market
- Polystyrene
- Polystyrene for general use
- Polystyrene manufacturers
- Polystyrene processing
- Street market
- Environmental issue of polystyrene
- polyvinyl chloride
- Shapes and grades of PVC
- PVC with chlorine
- Applications for PVC
- PVC processing
- PVC manufacturers
- PVC compound
- Street market
- Environmental issues of PVC
- others
- Thermoplastic polyesters
- polybutylene terephthalate
- polyamides (nylons)
- Polycarbonates
- Acrylonitrile Butadiene Styrene (ABS)
- Other engineering resins
- Street market
- Thermoplastic elastomers
- thermoplastic olefins
- Copolyester types
- Thermoplastic polyurethane
- Styrene block copolymers
Chapter 6 Plastic Compounds Market Analysis by Application
- Overview
- packing
- vehicle
- Building and construction
- electricity and electronics
- Consumer Products
Key questions answered in this report
- Analysis of the impact of COVID 19 on the global plastic compounds industry.
- What are the current trends and dynamics in the plastic compounds market and important opportunities for emerging players?
- What is driving Plastic Compounds Market?
- What are the main challenges to market growth?
- Which segment is responsible for the fastest CAGR during the forecast period?
- Which product type segment has the larger market share and why?
- Are low and middle income economies investing in the plastic compounds market?
- Key growth pockets on the basis of regions, types, applications and end users
- What is the market trend and dynamics in emerging markets such as Asia Pacific, Latin America and the Middle East and Africa?
Unique data points of this report
- Statistics on plastic compounds and expenses worldwide
- Recent trends in different regions in terms of cross-industry adoption of plastic compounds
- Notable developments occurring in the industry
- An attractive investment offer for sectors as well as geography
- Comparative scenario for all segments for the years 2018 (actual) and 2028 (forecast)
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