Plastic Compounding Market to Surpass a Valuation of USD 7 Mn by 2023 :

Pune, India, March 2021 /press release/- Market Research Future Published a Cooked Research Report on Global Plastic Compounding Market Research Report.

Overview 

The global plastic compounding market, during the forecast period 2015–2023, will register growth at a high CAGR. The plastic compounding market for plastic compounding is set to reach US$7,62,400 million by 2023. As per market analysts, the global market is anticipated to witness growth owing to the factors such as increasing plastic consumption in the automotive industry as well as replacement for glass and metals. However, the market will face challenges and restraints due to the instability in petrochemical costs and strained development across certain market segments during the forecast period 2015–2023. 

The growing demand for light and innovative materials in the packaging industry in the market is set to play a key role in determining the growth potential during 2015–2023years. Analysts have also studied the plastic compounding market to understand potential threats and challenges the market companies could face. Although the market is poised to grow at a fast pace across products and applications segments, factors such as too much reliance on petrochemicals could slow down the plastic compounding market's growth worldwide.

Market Segmentation 

The plastic compounding market has been segmented into products and applications. Based on the segment which is products, the market is categorized on the basis of polypropylene, polyethylene, polyethylene terephthalate, polyvinyl chloride, and others. The global market for plastic compounding is further segmented based on applications into automotive, building & construction, and electrical & electronics. 

The global plastic compounding market research report covers all the aspects of the market based on the segmental analysis of these products and applications segments. Analysts have also studied the global market's regional markets spread across many continents and countries. The products and applications segments along with their sub-segments have been analyzed and companies functioning in the market across these segments are profiled and analyzed based on input and feedback from market based decision makers as well as primary and secondary sources. The market research report presents analysis based information for companies functioning in the market. 

Regional Overview 

Volatility in raw material prices may hinder the market growth. The market research report suggests that companies in the plastic compounding market could be supported by the rise in plastic application in large-scale sectors as well as the thriving packaging industry during the forecast period. The market is set to register growth at a high CAGR owing to these key factors. The market is spread across North America, Europe, Asia-Pacific, and other parts of the world. The global market research report reveals that APAC, North America, and Europe regional markets will dominate the global market for plastic compounding during the forecast period 2015–2023. As per market analysts, the market is set to witness tremendous growth across polypropylene and automotive segments in North America which covers markets across the United States, Canada, Mexico and several other regional markets. Companies active in the market are also analyzed and studied in the market research report. 

The plastic compounding market for Europe covers smaller market segments of Germany, Italy, France, and the United Kingdom. Additionally, the market research report covers the Asia-Pacific region covering markets from India, China, Japan, Australia, and others. The market is also spread across the rest of the world. The market report covers all such regions including the Middle East, Africa, Brazil, and others. 

Competitive Landscape 

Plastic compounding has seen increased demand over the years, due to the mounting demand for fuel-efficient lightweight automotive components and the use of the compounding techniques. Companies functioning in the global plastic compounding market are also being challenged due to unfavorable policies and price volatility. Mergers and acquisitions by market companies are anticipated to help the market during the forecast period 2015–2023. As the market is set to register a high CAGR and is also anticipated to reach a US$7,62,400 million by 2023, the report highlights key areas companies need to focus on. The report suggests that the market will see a healthy growth in the long run till 2023. Based on SWOT analysis and market’s analysis based on Porters’ Five Force Model presented in the plastic compounding market report. Mergers and acquisitions by market companies are anticipated to help the market during the forecast period 2015–2023.  

Industry News 

The buying agreement of Polyblend and Esseti Plast GD from the D'Ottavio Group has been signed by Ascend Performance Materials, an integrated polyamide (PA) 66 provider. The purchase includes the Mozzate, Italy, processing plants, the Esseti Plast GD masterbatch portfolio and the Poliblend plastics engineering portfolio consisting of virgin grades PA 66, PA 6, PBT and POM recycled. Established in 1999, Poliblend offers accruing and masterbatch facilities, especially colour and additive sustenances which increase the appeal and final use of plastics and fibres.