Plastic Compounding Market Size to Reach Around US$ 104.1 Billion by 2027

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The global plastic compounding market size is anticipated to reach around US$ 104.1 billion by 2027.

The global plastic compounding market was valued at US$ 58.79 billion in 2019 and is projected to record compound annual growth rate (CAGR) of around 6.71% during period 2020 to 2027.

The main objective of this report is to define, describe, and forecast the global market by types, application, manufacturers, and regions. The report provides detailed information about the major factors (drivers, restraints, opportunities, and industry-specific challenges) influencing the growth of the market. The report aims to strategically analyze the micromarkets with respect to individual growth trends, prospects, and contributions to the global market. The report also attempts to forecast the market size of the 5 main regions: North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. It strategically profiles the key market players and comprehensively analyzes their core competencies. It also tracks and analyzes the competitive developments, such as joint ventures, mergers and acquisitions, new developments, and Research and Development (R&D) activities, in market.

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Report Highlights

  • In terms of volume and revenue, polypropylene emerged as utmost consumed plastic compounding product. Its growing production is fueled by great demand from medical device and packaging sectors globally.
  • Cumulative need for improved service ability, heat resistance and flame retardancy is likely to trigger growth of the product in electrical and electronics industries
  • Construction has emerged as prominent application sector for polyethylene compounds with occupying mass application worldwide
  • Bioplastic organizations are finding innovative approaches for manufacturing bioplastics from diverse kinds of raw materials

COVID-19 Impact

Since the COVID-19 virus outbreak in December 2019, the disease has spread to almost 100 countries around the globe with the World Health Organization declaring it a public health emergency. The global impacts of the coronavirus disease 2019 (COVID-19) are already starting to be felt, and will significantly affect the plastic compounding market in 2020.

COVID-19 can affect the global economy in three main ways: by directly affecting production and demand, by creating supply chain and market disruption, and by its financial impact on firms and financial markets.

The outbreak of COVID-19 has brought effects on many aspects, like flight cancellations; travel bans and quarantines; restaurants closed; all indoor events restricted; over forty countries state of emergency declared; massive slowing of the supply chain; stock market volatility; falling business confidence, growing panic among the population, and uncertainty about future.

Major highlights of Report:

  • Figures related to sales volume, market remuneration, and segmental shares
  • Featuring market dynamics
  • Growth prospects and expansion graph
  • PROCON study of direct & indirect sales channels
  • Profiles of prominent traders, dealer, and distributors in the industry

Geographical landscape: North America, Europe, Asia-Pacific, South America, Middle East and Africa

  • Industry forecasts based on region and at country level
  • Data about sales volume recorded, industry share held, and profit margins amassed
  • Overall remuneration and estimated growth rate for each regional market

Major Key Points Covered in Report:

Executive Summary: It includes key trends of the plastic compounding market related to products, applications, and other crucial factors. It also provides analysis of the competitive landscape and CAGR and market size of the plastic compounding market based on production and revenue.

Production and Consumption by Region: It covers all regional markets to which the research study relates. Prices and key players in addition to production and consumption in each regional market are discussed.

Key Players: Here, the report throws light on financial ratios, pricing structure, production cost, gross profit, sales volume, revenue, and gross margin of leading and prominent companies competing in the Plastic compounding market.

Market Segments: This part of the report discusses about product, application and other segments of the plastic compounding market based on market share, CAGR, market size, and various other factors.

Research Methodology: This section discusses about the research methodology and approach used to prepare the report. It covers data triangulation, market breakdown, market size estimation, and research design and/or programs.

Regional Snapshots

In 2019, Asia Pacific occupied majority of the revenue share of the global plastic compounding market which was around 42%. This growth is on account of augmented applications in numerous sectors including consumer goods, automobiles, electronics, packaging, and construction among others. This region attracted several manufacturers due to low cost labor, economical manufacturing units set up, and cheap raw resources. Certain noticeable players in Asia Pacific have introduced innovative products and broadened their business units. Europe has also appeared as rapidly growing market for plastic compounding. Germany, France, Russia and UK, are the some of the keyrevenue generating markets in this region. Different federal level agencies including European Commission and European Chemicals Agency (ECHA) have pigeonholed rigorous environmental guidelines related to the consumption and production of the materials. These regulations are pushing players to improve processes and to advance ecological products and technologies.

Developing nations including Mexico are likely to profit from mounting building and construction expenditure and preference of users forusing lightweight and maintainable building materials instead of conventional materials.

Key Players:

  • BASF SE,
  • Asahi Kasei Plastics
  • The Dow Chemical Company
  • LyondellBasell Industries N.V.
  • SABIC
  • Covestro (Bayer Material Science)

Segments Covered in the Report

By Application

  • Electronics & Electrical
  • Automotive
  • Packaging
  • Building & Construction
  • Industrial Machinery
  • Optical Media
  • Consumer Goods
  • Medical Devices
  • Others

By Product

  • Thermoplastic Polyolefins (TPO)
  • Poly Vinyl Chloride (PVC)
  • Polypropylene (PP)
  • Polyethylene
  • Thermoplastic Vulcanizates (TPV)
  • Polystyrene
  • Polybutylene Terephthalate (PBT)
  • Polycarbonate
  • Acrylonitrile Butadiene Styrene (ABS)
  • Polyethylene (PET)
  • Polyamide
  • Others

By Regional Outlook

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • France
    • Germany
    • Italy
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
  • Middle East & Africa
    • Saudi Arabia
    • South Africa

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