The Americas plastic compounding market is expected to reach USD 19.11 billion by 2024,
according to a new report by Grand View Research, Inc. The shift in trend
towards lightweight composites to lower vehicular weight and thereby foster
fuel savings & lower carbon emission levels are anticipated to drive
demand.
Increasing demand from
major end-use industries such as automotive, electrical & electronics,
packaging, construction and consumer goods is expected to remain a key driving
factor for market growth. Plastics compounds are rapidly replacing conventional
materials such as wood, glass, and metals in various applications on account of
their flexibility, lubricity and increased strength & stiffness.
Favorable federal
regulations by agencies such as National Highway Traffic Safety Administration
(NHSTA) and California Air Resources Board (CARB) regarding carbon emissions
along with the U.S. EPA initiatives to develop plastics compounds in
lightweight & fuel-efficient cars is likely to augment regional market growth.
Polyethylene
terephthalate (PET) is expected to be the fastest growing product segment owing
to increasing usage in end-use industries such as packaging and electrical
& electronics. Packaging is a dominant application market where PET
compounds are utilized in large quantities for the production of bottles,
particularly carbonated beverages and nutritional drinks.
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click the link below:
http://www.grandviewresearch.com/industry-analysis/americas-plastic-compounding-market
http://www.grandviewresearch.com/industry-analysis/americas-plastic-compounding-market
Further key findings from the report suggest:
· The Americas plastic compounding market
demand exceeded 5.50 million tons in 2015 and is expected to reach 8.20 million
tons by 2024, growing at a CAGR of 4.4% from 2016 to 2024
· Due to a considerable rise in consumerism
that is driven by economic growth, favorable credit landscape, and increased
disposable income, countries in Latin America have witnessed an exponential
rise in manufacturing activities
· Mexico emerged as the fastest growing
market with an estimated CAGR of 7.1% from 2016 to 2024
· Increasing number of free trade zones and
high per capita income in emerging economies leading to increased spending in
automotive and construction industries
· PBT is used in a various number of
automotive applications including accessories, covers, electrical connectors,
cooler fans, and plugs. The segment was valued at USD 22.7 million in 2015,
growing at an estimated CAGR of 4.2% from 2016 to 2024.
· Key companies operating in the industry
include Kraton Polymers Inc., DuPont, The Dow Chemical Company, RTP Company,
SABIC, LyondellBasell Industries N.V., Asahi Kasei Plastics, Kuraray Plastics,
Solvay, Kingfa Sci. & Tech. Co. Ltd., Flex Technologies, MRC Polymers, Inc.
and Washington Penn Plastics Company.
Grand View Research has
segmented the Americas plastic compounding market on the basis product,
application and region:
Americas Plastic Compounding Product Outlook (Volume,
Kilo Tons; Revenue, USD Million, 2014 - 2024)
·
Polyethylene
·
Polypropylene
·
Thermoplastic Vulcanizates (TPV)
·
Thermoplastic Olefins
·
Polyvinyl Chloride (PVC)
·
Polystyrene
·
Polyethylene Terephthalate (PET)
·
Polybutylene Terephthalate (PBT)
·
Polyamide
·
Polycarbonate
·
Acrylonitrile Butadiene Styrene (ABS)
·
Others
Americas Plastic Compounding Application Outlook (Volume,
Kilo Tons; Revenue, USD Million, 2014 - 2024)
·
Automotive
·
Construction
·
Electrical & Electronics
·
Packaging
·
Consumer Goods
·
Industrial Machinery
·
Medical Devices
·
Optical Media
·
Others
Americas Plastic Compounding Regional Outlook (Volume,
Kilo Tons; Revenue, USD Million, 2014 - 2024)
·
U.S.
·
Canada
·
Mexico
·
Brazil
·
Rest of Americas (RoA)
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.
