San Francisco, 13 December 2018: 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
According to a report by Grand View Research,
Inc.; the global plastic compounding market is anticipated to reach USD 95.2
billion by 2026. Rise in replacement of heavy alloys and metals with
lightweight substitutes is anticipated to propel market over the forecast
period (2018 to 2026). Plastic compounds offer high impact resistance and ease
of serviceability. This factor is expected to bode well for adoption of the
product in near future.
Increasing Research and Development (R&D)
activities to develop advanced grades of plastic compounds are likely to impel market
growth over the forecast period. Adoption of low cost alternatives to metals,
wood, and ceramic materials across various industrial sectors can further fuel
market. Stringent government regulations regarding vehicular weight reduction
and fuel efficiency are expected to boost demand for plastic compounds during
the forecast period.
The worldwide plastic compounding market can be
segregated on the basis of product, application and region. Based on product,
the market can be categorized into polyethylene, polypropylene, Thermoplastic
Vulcanizates (TPV), Thermoplastic Olefin (TPO), Polyvinyl Chloride (PVC),
polystyrene, Polyethylene Terephthalate (PET), Polybutylene Terephthalate (PBT),
polyamide, polycarbonate, Acrylonitrile Butadiene Styrene (ABS), and others.
Access Research Report of Plastic
Compounding Market@ www.grandviewresearch.com/industry-analysis/plastic-compounding-market
In 2016, polypropylene dominated held the
dominant market share of around 32% owing to rising applications in electrical and
electronics and automotive sectors ranging from modular switches and fascia and
side moldings. Polyethylene accounted for around 22.4% of market share in terms
of volume in the same year. Rising applications in packaging, construction, and
electrical and electronics sector are anticipated to propel demand over the
forecast period. Major construction applications include pipe fittings, pipe
coating, tank and reservoir substances, geo-textiles and roof tiles.
Based on application, the market for plastic
compounding can be classified into automotive, construction, electrical and electronics,
packaging, consumer goods, industrial machinery, medical devices, optical
media, and others. In 2016, automotive emerged as the leading application segment
with around 24% market share. Various plastics are used for manufacturing
automotive components ranging from drive systems to windshields. Government regulations
to reduce vehicular weight, particularly in US and European Union (EU) can
drive market growth.
Electrical and electronics segment accounted
for 18.15% market share in terms of volume in 2016. Plastics can be used in
numerous electrical applications such as enclosures, sockets, housings,
semiconductors, and switches. Growing need for heat resistance, flame
retardancy, and improved serviceability in manufacturing materials can augment demand
over the forecast period.
Browse more reports of this category by
Grand View Research at: www.grandviewresearch.com/industry/plastics-polymers-and-resins
Construction segment is projected to witness
steady growth attributed to rising applications ranging from pipe fittings and insulation
to masonry materials and equipment. Plastic compounds are modified as per requirement.
The segment is thus likely to remain dominant application during the forecast
period. Packaging is predicted to expand at a stable pace owing to increasing
use of polyamide, polycarbonate, PVC, and polystyrene in laminates, films,
boxes, and bottles.
Regional segmentation includes Europe, North
America, Asia Pacific, Central and South America, and Middle East and Africa.
In 2016, Asia Pacific dominated the market and accounted for largest market
share. Continuous emergence of Small Medium Enterprises (SMEs) and favorable
economic environment can fuel regional market for plastic compounding. China,
being a major manufacturing hub; can witness tremendous growth during the
forecast period attributed to rising product demand.
Europe is expected to exhibit slow CAGR during
the forecast period owing to numerous restraining factors such as post-Brexit
crisis, sluggish industrial output, aging demographics, and sovereign debt
crisis. Automotive manufacturing was dominant across Italy, Spain, France,
Germany, and UK in the past. However, this dominance is likely to shift towards
Eastern Europe markets such as Romania, Czech Republic, and Slovakia.
On the other hand, North America is characterized
by technologically advanced manufacturing bases and high consumer awareness. It
is expected to be small yet prominent segment in global market. United States
is likely to be major consumer owing to rebounding automotive and construction
sector.
Some of the leading companies in plastic compounding market
are LyondellBassell Industries, BASF, SABIC, The Dow Chemical Company, and
DuPont.
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Press Release of Plastic Compounding Market@ 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.
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