Overview and Scope
Plastic compounding refers to the process of incorporating additional components into a molten plastic base in order to create a material with the desired characteristics. This process enables the creation of custom plastic materials with properties such as increased strength, durability, flame retardancy, and UV stability.
Sizing and Forecast
The plastic compounding market size has grown strongly in recent years. It will grow from $674.38 billion in 2023 to $727.57 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to growth in end-use industries, replacement of traditional materials, focus on lightweighting, consumer demand for sustainable products, expansion of packaging industry.
The plastic compounding market size is expected to see strong growth in the next few years. It will grow to $947.31 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to circular economy initiatives, rise in electric vehicles, focus on bio-based plastics, urbanization and infrastructure development, advancements in polymer science, stricter regulations on plastic use. Major trends in the forecast period include 3d printing and additive manufacturing, smart packaging solutions, customization and specialty compounds, technological advancements in compounding processes, use of engineering plastics.
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Segmentation & Regional Insights
The plastic compounding market covered in this report 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
Top 5 Major Players:
- Adell Plastics Inc
- Asahi Kasei Corporation
- Celanese Corporation
- DuPont de Nemours Inc
- Solvay SA
Asia-Pacific was the largest region in the plastic compounding market in 2023. North America is expected to be the fastest-growing region in the global plastic compounding market during the forecast period. The regions covered in the plastic compounding market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increasing number of commercial and residential projects is expected to propel the growth of the plastic compounding market going forward. Commercial and residential projects refer to the construction of buildings. Commercial projects are properties that are used for business activities, while residential projects refer to properties solely utilized for private living quarters. Plastic compounding is primarily used in commercial and residential projects to provide desirable properties to plastic materials, such as enhanced strength, durability, flexibility, flame retardancy, UV resistance, and color stability. For instance, in February 2021, according to Construct connect Inc., a US-based provider of software solutions for the preconstruction industry, in 2021, US construction starts increased by 5.9 % to $747 billion, and residential construction grew 14.5 %. Additionally, in 2021, Canadian commercial and residential construction starts increased by 6.5 % to C$91.8 billion ($67.68 Billion). Both the residential and non-residential sectors saw growth in residential construction, which increased by 19.7 %. Furthermore, according to the Department for Leveling Up, Housing, and Communities (DLUHC), a UK-based government department, in the UK, there are now 49,470 more homes being built than there were in 2020, a rise of 4 %. Additionally, compared to the previous year, house building in London increased significantly by 18 % to 14,530 in 2021. Therefore, the increasing number of commercial and residential projects is driving the growth of the plastic compounding device market.
Key Industry Players
Major companies operating in the plastic compounding market report are Adell Plastics Inc., Asahi Kasei Corporation, Celanese Corporation, DuPont de Nemours Inc., Solvay SA, Saudi Basic Industries Corporation (SABIC), LyondellBasell Industries Holdings B.V., Dow Inc., RTP Company, Avient Corporation, Polyvisions Inc., Kingfa Science & Technology Co. Ltd., Kraton Corporation, Kuraray Co. Ltd., Polykemi AB, Citadel Plastics, DSM N.V., Arkema Group, Sumitomo Bakelite Co. Ltd., Nova Polymers Inc., Europlas (PVCu) Ltd., US Plastics Recovery, A. Schulman Inc., Teknor Apex Company, Cabot Corporation, Tosaf Group, Mexichem Specialty Compounds Ltd., Ravago Manufacturing Americas, Plastics Color Corporation, AmeriLux International LLC, Astra Polymers Compounding Co. Ltd.
The plastic compounding market report table of contents includes:
1. Executive Summary
2. Plastic Compounding Market Characteristics
3. Plastic Compounding Market Trends And Strategies
4. Plastic Compounding Market – Macro Economic Scenario
5. Global Plastic Compounding Market Size and Growth
….
31. Global Plastic Compounding Market Competitive Benchmarking
32. Global Plastic Compounding Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Plastic Compounding Market
34. Plastic Compounding Market Future Outlook and Potential Analysis
35. Appendix
List of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Plastic Compounding Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Plastic Compounding Market, Segmentation By Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Plastic Compounding Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
….
Table 74: Adell Plastics Inc. Financial Performance
Table 75: Asahi Kasei Corporation Financial Performance
Table 76: Celanese Corporation Financial Performance
Table 77: DuPont de Nemours Inc. Financial Performance
Table 78: Solvay SA Financial Performance
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