Plastic Compounding Market by Application and Geography - Global Forecast and Analysis 2019-2023

The global plastic compounding market size will grow by USD 20.64 billion during 2019-2023. This market report provides a detailed analysis of the market by application (packaging, construction, automotive, electrical and electronics, and others) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Asahi Kasei Corp., BASF SE, Celanese Corp., Covestro AG, Dow Inc., DuPont de Nemours Inc., Hillenbrand Inc., LyondellBasell Industries Holdings BV, Mexichem SAB de CV, Mitsui Chemicals Inc., SABIC, and Sojitz Corp.

Key Insights on Plastic Compounding Market - Global Forecast 2019-2023

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Industry Overview

According to the plastic compounding market forecast report, the growing demand for lightweight vehicles will be one of the significant factors contributing to the growth of the market. The demand for highly fuel-efficient cars is growing across the world. Rising environmental concerns and the growing focus on minimizing pollution by the governments of both developed and developing countries will further boost the demand for light-weight and fuel-efficient electric vehicles with minimal vehicular emissions. These factors have driven automotive manufacturers to replace metal components with plastic parts to reduce the overall weight of vehicles. Several plastic compounding products, such as thermoplastics, fibers, and resins are widely used to manufacture various car parts, including bumpers, dashboards, under the hoods, and door panels. Plastic compounds, such as polypropylene and polyurethane have better strength, and non-malleable and ductile properties than metal parts which makes them ideal for providing enhanced safety, thermal resistance, and fuel efficiency in vehicles. The growing demand for lightweight vehicles is expected to fuel the growth of the plastic compounding market throughout the next five years.

Strategic acquisitions and new production facilities are also identified as major factors that will drive market growth. The demand for polymers, resins, and plastic compounds is increasing from several end-user industries, such as automotive, construction, healthcare, consumer electronics, and packaging industries. The growing demand for plastic compounds has encouraged vendors to expand their market presence through strategic acquisitions and new production facilities. For instance, LyondellBasell acquired A. Schulman Inc. to increase their plastic compounds and resin production. Similarly, RTP Company opened new production plants in the US and Poland and are planning to increase their production capacity of its existing plant in Wisconsin, US. The plastic compounding market forecast report predicts that as a result of these factors, the market will register a CAGR of over 6% during the forecast period.

Top Companies in Plastic Compounding Market

The global market is fragmented. To help clients improve their market position, this plastic compounding market analysis report provides an analysis of the market’s competitive landscape and offers information on the products offered by various companies. Moreover, the report also includes information on the upcoming plastic compounding market trends and challenges that will influence market growth. This will help companies create strategies to make most of the future growth opportunities.

The report offers a detailed analysis of several leading plastic compounding companies, including:

• Asahi Kasei Corp.
• BASF SE
• Celanese Corp.
• Covestro AG
• Dow Inc.
• DuPont de Nemours Inc.
• Hillenbrand Inc.
• LyondellBasell Industries Holdings BV
• Mexichem SAB de CV
• Mitsui Chemicals Inc.
• SABIC
• Sojitz Corp.

Market Segmentation

Plastic Compounding Market by Application

• Packaging
• Construction
• Automotive
• Electrical and electronics
• Others

The packaging segment will account for the highest plastic compounding market share. The growing plastic films market will be one of the significant factors boosting the demand of plastic compounds for packaging applications. The report provides an accurate prediction of the contribution of all the segments to the growth of the plastic compounding market size.

Plastic Compounding Market by Region

• APAC
• Europe
• MEA
• North America
• South America

With a complete study of the growth opportunities for companies, it has been identified that APAC will account for the highest share of the plastic compounding market throughout the forecast period. Rising industrialization and growth of the retail, construction, and automotive industries in APAC will contribute to the plastic compounding market growth in this region.

Major Highlights of the Plastic Compounding Market - Global Forecast 2019-2023

• CAGR of the market during the forecast period 2019-2023
• Detailed information on factors that will accelerate the growth of the plastic compounding market during the next five years
• Precise estimation of the global plastic compounding market worth and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the plastic compounding industry across APAC, Europe, MEA, North America, and South America
• A thorough analysis of the market’s competitive landscape and detailed information on several vendors
• Comprehensive details of factors that will challenge the growth of plastic compounding companies

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