The Plastic Compounding Global Market Report 2023, provides comprehensive information on the plastic compounding market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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As per The Business Research Company’s Plastic Compounding Global Market Report 2023, the global plastic compounding market size is expected to grow from $624.46 billion in 2022 to $674.38 billion in 2023 at a compound annual growth rate (CAGR) of 8%.The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global plastic compounding market size is expected to reach $883.31 billion in 2027 at a CAGR of 7%.
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Technological advancements are a key trend gaining popularity in the plastic compounding market. Major companies operating in the plastic compounding market are focused on developing innovative technologies to strengthen their position in the market. For instance, in November 2022, Lummus Technology LLC., a US-based developer of process technologies launched Novolen Pure polypropylene (PP) technology. This innovative new grade range of polymers can help with the manufacturing of high-quality goods for automotive, medical, and food packaging materials. This unique non-phthalate manufacturing approach delivers significant energy savings by establishing a superior hydrogen reaction with the catalyst. It also offers various versions that are relevant to an operator’s process and end-product requirements.
The plastic compounding market is segmented:
1) By Product: Polyethylene (PE), Polypropylene (PP), Poly Vinyl Chloride (PVC), Polystyrene (PS), Polyethylene Terephthalate (PET), Polybutylene Terephthalate (PBT), Polyamide (PA), Polycarbonate (PC), Acrylonitrile Butadiene Styrene (ABS), Other Products
2) By Source: Fossil-Based, Bio-Based, Recycled
3) By Application: Automotive And Transportation, Infrastructure And Construction, Electrical And Electronics, Packaging, Consumer Goods And Lifestyle, Industrial Machinery, Other Applications
Asia-Pacific was the largest region in the plastic compounding market in 2022.
The table of contents in TBRC’s plastic compounding market report includes:
- Executive Summary
- Plastic Compounding Market Characteristics
- Plastic Compounding Market Trends And Strategies
- Plastic Compounding Market – Macro Economic Scenario
- Plastic Compounding Market Size And Growth
.
- Plastic Compounding Market Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions In The Plastic Compounding Market
- Plastic Compounding Market Future Outlook and Potential Analysis
- Appendix
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