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.
Browse full research report on Global
Plastic Compounding Market: http://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.
Browse more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/plastics-polymers-and-resins
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
- Automotive
- Construction
- Electrical & Electronics
- Packaging
- Others
- Polypropylene
- Automotive
- Electrical & Electronics
- Consumer Goods
- Industrial Machinery
- Others
- TPV
- Automotive
- Industrial Machinery (Fluid Handling)
- Consumer Goods
- Medical Devices
- Others
- TPO
- Automotive
- Industrial Machinery
- Construction
- Others
- PVC
- Construction
- Consumer Goods
- Packaging
- Electrical & Electronics
- Automotive
- Others
- Polystyrene
- Packaging
- Electrical & Electronics
- Construction
- Medical Devices
- Others
- PET
- Packaging
- Electrical & Electronics
- Industrial Machinery
- Others
- PBT
- Automotive
- Electrical & Electronics
- Consumer Goods
- Others
- Polyamide
- Automotive
- Electrical & Electronics
- Industrial Machinery
- Consumer Goods
- Others
- Polycarbonate
- Automotive
- Electrical & Electronics
- Construction
- Packaging
- Consumer Goods
- Optical Media
- Others
- ABS
- Automotive
- Electrical & Electronics
- Consumer Goods
- Others
- Others
- Automotive
- Construction
- Electrical & Electronics
- Packaging
- Consumer Goods
- Industrial Machinery
- Others
Plastic Compounding Application Outlook (Volume, Kilo
Tons; Revenue, USD Million, 2014 - 2026)
- Automotive
- Polyethylene
- Polypropylene
- TPV
- TPO
- PVC
- PBT
- Polyamide
- Polycarbonate
- ABS
- Others
- Construction
- Polyethylene
- TPO
- PVC
- Polystyrene
- Polycarbonate
- Others
- Electrical & Electronics
- Polyethylene
- Polypropylene
- PVC
- Polystyrene
- PET
- PBT
- Polyamide
- Polycarbonate
- ABS
- Others
- Packaging
- Polyethylene
- PVC
- Polystyrene
- PET
- Polycarbonate
- Others
- Consumer Goods
- Polypropylene
- TPV
- PVC
- PBT
- Polyamide
- Polycarbonate
- ABS
- Others
- Industrial Machinery
- Polypropylene
- TPV
- TPO
- PET
- Polyamide
- Others
- Medical Devices
- TPV
- Polystyrene
- Optical Media
- Polycarbonate
- Others
- Polyethylene
- Polypropylene
- TPV
- TPO
- PVC
- Polystyrene
- PET
- PBT
- Polyamide
- Polycarbonate
- ABS
- Others
Plastic Compounding Regional Outlook (Volume, Kilo Tons;
Revenue, USD Million, 2014 - 2026)
- North America
- U.S.
- Canada
- Europe
- Germany
- Russia
- Asia Pacific
- China
- India
- Japan
- Central & South America
- Mexico
- Brazil
- Middle East & Africa
- Saudi Arabia
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.
For more information: www.grandviewresearch.com
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