Plastic Compounding Market to Surpass a Valuation of USD 1,33,379.5 million by 2032

The Plastic Compounding Market is estimated to register a CAGR of 7.38% during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the global Plastic Compounding market—Asahi Kasei Corporation (Japan), BASF SE (Germany), Celanese Corporation (US), Clariant International Ltd (Switzerland), Exxon Mobil Corporation (US), LyondellBasell (US), RTP Company (US), SABIC (Saudi Arabia), Teknor Apex (US)

Market Highlights

The global Plastic Compounding market is accounted for to register a CAGR of 7.38% during the forecast period and is estimated to reach USD 1,33,379.5 million by 2032.

The growing need for customized plastic compounded materials is expected to propel significant growth in the plastic compounding market in the next years. Due to their special qualities and customized features that meet certain application needs, these materials are seeing a notable growth in demand across a variety of industries. To create specialty plastic compounds, base polymers are combined with reinforcements, fillers, and additives to produce materials with a variety of desired qualities, including high impact strength, conductivity, UV resistance, and flame resistance. The demand for highly specialized and performance-driven plastic compounds is rising rapidly as industries continue to diversify and progress, which is driving the plastic compounding market. The robust growth of the automotive industry is one of the main drivers driving the need for specialized plastic compounded materials. Specialty plastic compounds are becoming more and more important to automakers in order to satisfy the strict demands for energy economy, safety, and lightweighting. These materials are perfect for a variety of automotive applications because they have high mechanical qualities, thermal stability, and resistance to fuels and chemicals. Specialty plastic compounds play a major role in the innovation and advancement of the automotive industry, boosting the growth of the plastic compounding market through their use in interior components and under-the-hood parts.

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Segment Analysis

The global Plastic Compounding market has been segmented based on Raw Material, End Use Product and Region.

The global Plastic Compounding Market segmentation, based on Raw Material has been segmented as Polyvinyl Chloride (PVC), Polyethylene (PE), Polypropylene (PP), Polystyrene (PS) and Other Materials. Polypropylene is further classified into GFRP, CFRP, Other PP Mix.. Among these, the Above Polypropylene (PP) segment is anticipated to dominate the global Plastic Compounding market revenue through the projected period as estimated by MRFR analysts.

PP is also used in a variety of automotive applications, such as fuel tanks, bumpers, and interior trim, for its durability, lightweight properties, and impact resistance. PP components can be found in a variety of applications within automobiles, including Fuel tanks, Bumpers, Fender liners, Door panels and Wire harnesses.

In the End Use segment, the market is categorized as White Goods, Electrical and Electronics, Furniture, Automotive Small Appliances. White Goods is further segmented into Washing Machine, Refrigerators and Other White Goods. Furniture is further divided into Indoor and Outdoor. Automotive is again classified into Exterior Parts, Interior Parts, Panels, Airducts and Filters and Other Parts. Out of which the Automotive segment held the maximum share in the base year market and is also expected to be holding a significant share in the forecasted period as well.  Rapidly growing automotive industry and rising advancements will create growth opportunities for plastic compounding market for making efficient components that are used in automobiles.

Regional Analysis

By Region, the Plastic Compounding market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. The Asia Pacific Plastic Compounding market holds a considerable market share and is also forecasted to hold the largest share during the forecast period. Factors contributing towards the growth of the market in Asia Pacific region includes growing demand for sustainable plastic End-Use Products, increasing use of plastic in new applications, such as automotive and electronics, expanding e-commerce market is creating new demand for plastic packaging and growing presence of multinational companies in the region is creating new opportunities for plastic compounders

Key Findings of the Study

• The global Plastic Compounding market is expected to reach USD 1,33,379.5 million by 2032, at a CAGR of 7.38%  during the forecast period.


• The Asia Pacific region accounted for the fastest-growing global market.


• Based on Raw Material, the Polypropylene segment was attributed to holding the largest market in 2022.


• Based on End Use Product, the Automotive segment was attributed to holding the largest market in 2022.


• Asahi Kasei Corporation (Japan), BASF SE (Germany), Celanese Corporation (US), Clariant International Ltd (Switzerland), Exxon Mobil Corporation (US), LyondellBasell (US), RTP Company(US), SABIC(Saudi Arabia), Teknor Apex (US) are the key market players.