Global Plastic Compounding Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027

Plastic Compounding Market Overview:

The Plastic Compounding Market was valued at $42.4 billion in 2021 & is projected to reach $84.9 billion by 2028. It is expected to grow at an 8.3% CAGR between 2021 and 2028.

The Plastic Compounding Market report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027.

The Plastic Compounding Market report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint.

The plastic compounding market report has been segmented on the basis of raw material, application, end-user, and region.

This report is based on the synthesis, analysis, and interpretation of various sources of information gathered regarding the target market.

Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts to provide a holistic view of the market.

In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in the future.

Compounding is the process of blending plastics with other additives.

Process changes the thermal, physical, and electrical characteristics of the plastic. Compounding plastics is done in several steps.

Resin and additives are fed through an extruder such as a twin-screw extruder either counter-rotating or co-rotating design where they are combined.

On the basis of product, the polypropylene segment is expected to hold a major revenue share in the global plastic compounding market.

Polypropylene is widely used in the electrical and electronics, automotive, and packaging industries. Growing end-use industries are expected to propel segment growth over the forecast period.

On the basis of application, the automotive segment is expected to hold a major share in the global target market and is expected to maintain dominance for the next five years.

Growing demand for lightweight and low emission automobiles to improve the fuel efficiency of the vehicles is expected to be a major factor driving segment growth.

Asia Pacific market is estimated to hold a major revenue share in the global plastic compounding market, in 2017 and is expected to maintain its dominance over the forecast period.

Growing end-use industries such as electrical and electronics, packaging, and construction in the region are expected to be a major factor driving revenue growth of the Asia Pacific plastic compounding market over the forecast period.

The Asia Pacific accounts for the largest revenue share contribution of the target market, followed by markets in North America, Europe, Latin America, and the Middle East & Africa respectively.

Moreover, growing automotive production in the region is expected to support revenue growth of Asia Pacific plastic compounding market growth over the forecast period.

Market segmentation and key players operating in the global plastic compounding market:

By product:

• High-density polyethylene
• Low-density polyethylene
• Polypropylene
• Polyvinyl chloride
• Polystyrene
• Thermoplastic polyesters
• Others (polybutylene terephthalate, polyimide, polycarbonate, and acrylonitrile butadiene styrene)

By application:

• Automotive
• Construction
• Packaging
• Electrical & Electronics
• Others (industrial equipment and consumer goods)

By region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa