Dublin, July 26, 2024 (GLOBE NEWSWIRE) -- The "Global Market for Plastics Compounding" report has been added to ResearchAndMarkets.com's offering.
The global market for plastic compounding is estimated to increase from $57.8 billion in 2023 to reach $80.3 billion by 2029, at a compound annual growth rate (CAGR) of 5.8% from 2024 through 2029.
The growing global industrialization has increased the demand for plastic compounding, requiring enhanced such properties as recyclability, flame resistance and longer life, which are driving factors that will propel market growth. Developing new plastic products and adopting recycled and bio-based manufacturing practices contribute to the market's necessity. The plastic compounding market plays a crucial role in addressing the challenges of plastic demand and industrial productivity.
Report Scope
This report covers some of the parameters of plastic compounding examined by industries and regulatory bodies due to their growing advances and expansions in the plastic sector. It primarily focuses on plastic compounding polymers, additives and their industrial application in such industries as transportation, electronics and electrical, packaging, construction, medical and healthcare and consumer goods. The publisher analyzed essential categories and regions to determine the present and future plastic compounding market status, and then forecast market growth from 2024 through 2029.
This report also discusses market strategies, market ESG development, regulatory landscape, key players in countries, plastic compounding analysis and market driving forces. The report segments the market by region based on Asia-Pacific, Europe, North America and the Rest of the World (RoW).
The global plastic compounding market is segmented into:
- Product type: Polyethylene (PE), polypropylene (PP), polyvinyl chloride (PVC), polyethylene terephthalate (PET), polystyrene (PS) and others.
- Source: Fossil based, recycled and bio-based.
- Additives: Plasticizers, flame retardants, fillers and reinforcements, stabilizers, antioxidants, colorants and others.
- End Use: Packaging, transportation, construction, electronics and electrical, consumer goods, medical and healthcare, and others.
The market estimations and size are provided in terms of value ($ millions) and volume (Kilo tons), with 2023 serving as the base year and market forecasts given for the period from 2024 to the end of 2029. Regional-level market sizes, with respect to technology and application, are also provided.
The report includes:
- 106 data tables and 39 additional tables
- Analysis of the global markets for plastics compounding process
- Analyses of the global market trends, with market revenue data for 2022, estimates for 2023, forecasts for 2024 and projected CAGRs through 2029
- Estimate of the current market size and revenue growth prospects in value and volumetric terms, with a market share analysis by product type, source, additives, end user and region
- Facts and figures pertaining to market dynamics, current and emerging technologies, regulations, and trends, including macroeconomic factors
- Review of key plastics additives used in plastics compounding and advances in plastics compounding-based equipment and machinery
- Overview of sustainability trends and ESG developments in the industry, with a focus on consumer attitudes, companies' ESG score rankings and their ESG practices.
- A look at recent patent activity
- Identification of the major resin producers, key plastics processors and independent compounders, along with their product lines, and estimated sales
- An analysis of the industry structure, including companies' market shares, M&A activity and venture funding outlook
- Company profiles of major players within the industry, including BASF SE, Mitsui Chemicals Inc., LyondellBasell Industries, and Dow.
Market Insights
Among the latest trends, utilization of bioplastics in the global market is increasingly becoming popular, which is anticipated to further expand the industry share.
The production of compounded plastics is a large business and a highly competitive one. Competition is based on many factors, including speed, delivery, service, performance, product innovation, product recognition, quality and price. Mitsui Chemicals, LyondellBasell, SABIC and others are among the leading players in the global market.
The applications of plastic compounding market have boosted significantly due to their varied benefits. The automotive manufacturing industry is the leading end user of plastic compounds market globally. The sector offers a continued opportunity for the plastic compounding market, as this market offers an ideal material that acts as a substitute for metal, allowing for desirable weight reduction. Polypropylene (PP) and glass-filled PET are among the major compounded plastics utilized in the sector.
Companies profiled in the report:
- Amco Polymers
- BASF SE
- Celanese Corp.
- Covestro AG
- Dow
- ExxonMobil Corp.
- Mitsui Chemicals Inc.
- Lanxess
- LyondellBasell Industries N.V.
- SABIC
For more information about this report visit https://www.researchandmarkets.com/r/49ijso
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
