The Report 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
Research Report of Plastic Compounding Market@ 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.
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
·
Polypropylene
·
TPV
·
TPO
·
PVC
·
Polystyrene
·
PET
·
PBT
·
Polyamide
·
Polycarbonate
·
ABS
·
Others
Plastic Compounding Application Outlook (Volume, Kilo
Tons; Revenue, USD Million, 2014 - 2026)
·
Automotive
·
Construction
·
Electrical & Electronics
·
Packaging
·
Consumer Goods
·
Industrial Machinery
·
Medical Devices
·
Optical Media
·
Others
Plastic Compounding Regional Outlook (Volume, Kilo Tons;
Revenue, USD Million, 2014 - 2026)
·
North America
·
Europe
·
Asia Pacific
·
Central & South America
·
Middle East & Africa
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.
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