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Purging Compound Market Analysis

ID: MRFR//3275-HCR | 135 Pages | Author: Priya Nagrale| May 2024

The market elements of the purging compound industry mirror a mind-boggling interaction of different variables that impact the stock, request, and generally economic situations. Investigating the key components driving this market gives important experiences into its dynamic nature.
Fabricating Industry Patterns:
• There is a strong correlation between manufacturing industry trends and purging compound demand, particularly in plastic processing. As assembling processes advance and hardware turns out to be more refined, the requirement for productive cleansing answers for clean and enhance gear increments.
Material Progressions in Plastics:
• The dynamics of the purging compound market are impacted by ongoing advancements in plastic materials. Changes in sap details and the presentation of new polymers drive an interest in cleansing builds that can really perfect and progress between various materials without compromising quality.
Standards for Quality and Compliance with Regulations:
• Rigid quality principles and administrative consistence in enterprises utilizing plastic handling hardware drive the reception of cleansing mixtures. Keeping up with neatness and forestalling pollution is critical to fulfilling these guidelines, affecting the market elements of cleansing mixtures.
Globalization and Production network Intricacy:
• The globalization of assembling cycles and complex stock chains add to the powerful idea of the purging compound market. Organizations working on a worldwide scale might experience different handling conditions, requiring flexible cleansing answers for address changed hardware and functional difficulties.
Cost-Proficiency Underway:
• The expense viability of creation processes is a critical element impacting market elements. Manufacturers looking to improve operational efficiency are more likely to adopt purging compounds that offer effective cleaning, reduced downtime, and lower overall production costs.
Purging Solutions' Technological Innovations:
• Continuous innovative work led to mechanical advancements in cleansing mixtures. The purging compound market is changing because of new formulations that make cleaning more effective, reduce waste, and make it easier to switch materials.
Ecological Contemplations:
• Expanding consciousness of natural maintainability prompts a shift towards eco-accommodating assembling rehearses. Cleansing mixtures that are ecologically dependable and consent to green drives become a main thrust in market elements as producers look for practical arrangements.
End-Client Ventures:
• The purging compound market is intently attached to different end-client businesses, including auto, bundling, and medical care. Changes popular inside these areas, for example, expanded creation or changes in materials utilized, straightforwardly influence the elements of the purging compound market.
Hardware Updates and Retrofits:
• Overhauls and retrofits of plastic handling hardware impact the market elements as producers search for cleansing arrangements that can flawlessly incorporate with both existing and present-day apparatus. Similarity and usability become essential variables in direction.
Programs for Training and Awareness:
• Instruction and preparing programs on the advantages of utilizing cleansing mixtures add to showcase elements. As industry experts become more mindful of the benefits, including decreased piece rates and further developed gear life span, the reception of cleansing mixtures is probably going to increment.

Covered Aspects:

Report Attribute/Metric Details
Segment Outlook Type, process and application

Purging Compound Market Overview


The purging compound market is showing remarkable growth and was valued approximately at USD 536.8 million in 2020. The widespread use of thermoplastic molding machines to fulfill the growing demand for durable plastic materials is driving the market growth. Purging compound with their superior properties leads the market leaving the other competitors behind.


Purging compound is a chemical product used to clean thermoplastic molding machines and extruders. It is a resin-based cleanser with some additives to clean. Owing to its immense benefits it has become a necessity for every industry involving the use of thermoplastics. The global purging compound market is estimated to grow at a Compound Annual Growth Rate ( CAGR ) of 5.6 % over the current forecast period.


The purging compound has several advantages over other resin-based cleansers. It reduces machine downtime and effectively scrubs residue material along with color deposits. The global purging compound market value is estimated to be worth USD 745.6 million by the end of the current forecast period in 2030.  


In 2024, Asahi Kasei Plastics North America Inc (APNA), the manufacturer of Asaclean and a key supplier of purging compounds for the plastics industry, announced a new relationship with Polysource, a well-known plastics wholesaler. This exclusive distribution deal represents a significant milestone for both firms, providing improved accessibility and support to customers across the United States.


In 2016, ASACLEAN™ introduced a next-generation purging compound for plastic packaging machinery. ASACLEAN™, a commercial purging compound for thermoplastic injection molders and extruders, now offers a new UF2 Grade purging compound suitable for blown and cast film extrusion, as well as injection molding. 


Covid 19 Analysis


Covid 19 had a negative impact on the global purging compound market. The demand rapidly declined over the period due to the closure of various end-user industries such as the plastic industry, automotive industry, and others. The closure of production units to curb the virus spread led to a shortage of material in the market when some industrial units began functioning. 


The Restrictions on travel and movement of goods hampered the market growth causing disruptions in the supply chain. However, the second quarter witnessed moderate growth owing to demand from the protective equipment manufacturing industry. Therefore, the market is estimated to show a quick recovery in the near future.


Market Dynamics


Drivers


The increasing demand from the thermoplastic processing industry is the major growth driving factor for the global purging compound market. The global thermoplastic industry was valued at USD 20 billion in 2020 owing to a greater benefit-to-cost ratio, low-cost manufacturing, chemical resistance, impact resistance, smooth finish, and recyclability. The high demand for thermoplastic processing machines and extruders will in turn generate the demand for purging compounds.


Purging compounds have superior properties to other resin-based cleaning compounds which are in turn generating high market demand. It gives faster changeover, reduces machine downtime, and ensures less material wastage. Moreover, purging compounds have greater market advantages as they can remove carbon and color deposits which other conventional cleaners are not able to.


Restraints


The high cost of purging compounds is the major growth-hindering factor. Moreover, its volatile market price also affects the users. 


The other major restraining factor is the lack of awareness about purging communities in developing economies. 


Technology Analysis


Purging Compound is a chemical product used for cleaning thermoplastic molding machines and other extruders. It comprises a base resin and other scrubbing and cleansing additives. Purging compound is specifically used to clean screws, nozzles, mold, hot runners, or die of molding machines.


The Purging compound is used when we need to mold a different material or change the color of a mold. Purging Compound runs through screws and barrels removing all traces of the previous mix including degraded material in less downtime.


It is available in granular form which melts to liquid and runs through the hot runner of the machine, purging the residues. This purging compound also can clean color residue so that there will be no contamination in the coloring of the next mold with the color of the previous mold.


Study Objectives


The specific objectives of this market report on the global purging compound market are given below:



  • To provide a complete overview of the purging compound market.

  • To analyze and forecast the purging compound market in terms of value and volume.

  • To provide information about the impact of covid 19 on the market and market response thereafter.

  • To highlight the problems and prospects of the purging compound market.

  • To give details about the technological know-how of the product for better knowing the product.

  • To provide an overview of the regional market and potentially growing market segments.

  • To identify the key players of the industry.


Segment Analysis


Segmentation of the global purging compound market, by type



  • Mechanical purging

  • Chemical/foaming purging

  • Liquid purging


The mechanical purging segment dominates the market by type. The mechanical purging compounds are easy-to-use Materials that don't require a soak cycle. They have higher efficiency and reduce resource wastage. Moreover, they are more effective under high screw pressure and high backpressure.   


Segmentation of the global purging compound market, by process



  • Extrusion

  • Injection molding

  • Blow molding


The extrusion process holds the largest market segment owing to its high benefit to cost ratio. Moreover, the extrusion machine is easy to operate and can be continuously operated to give high production volume. It alone accounts for about 37 percent of the global market share.


However, injection molding is a rapidly growing segment. The ability for automation and fast molding ability is driving the market growth of injection molding. 


Segmentation of the global purging compound market, by Application



  • Automotive

  • Construction

  • Industrial Machinery

  • Polymers

  • Thermoplastic Processing

  • Other Applications


The thermoplastic processing segment occupies the major market share. Owing to the superior properties of the purging compound, there are no available replacements for it.  Moreover, frequent need in the thermoplastic machinery accounts for very high demand.


Regional Analysis


The different regional markets for the global purging compound market are:



  • North America

    • US

    • Canada

    • Mexico





  • South America

    • Brazil

    • Argentina





  • Europe

    • UK

    • Germany

    • France

    • Italy

    • Spain

    • Rest of Europe





  • Asia-Pacific

    • China

    • India

    • Japan

    • Australia & New Zealand

    • Rest of Asia-Pacific





  • Rest of the world ( RoW )

    • The Middle East

    •  




Asia-Pacific is a leading regional market for purging compounds. The significant presence of plastic manufacturing industries in this region especially in China, India, and Japan generates huge demand. There is a growing use of extrusion and injection molding processes in automotive, construction, and industrial machinery. Moreover, the growing industrialization and other end-user industries of plastics also account for significant demand for the purging compound.


North America is the second-largest market for the purging compound. The widespread presence of demand-generating industries such as automotive, construction, polymer industry, and others in this region accounts for the market growth.


Europe also holds a significant market share in the global purging compound market. The demand arises from the growing automotive industry, electronic industry, aviation industry, and others. The huge backing of research institutes provides support to the market growth. The UK, Germany, and Italy are the major contributors to the purging compound market in this region. 


Latin America and the Middle East are also expected to show moderate growth over the forecast period. 


Competitive Landscape


The major global companies playing a key role in the purging compound market are :



  • The 3M Company (U.S.A)

  • The Dow Chemical Company (U.S.A)

  • Kuraray Co., Ltd. (Japan)

  • RapidPurge (U.S.A)

  • CALSAK Corporation (U.S.A)

  • VELOX GmbH (Germany)

  • Daicel Corporation (Japan)

  • Chem-Trend (China)

  • BASF SE( Germany


Recent Developments


Oct 2021 - Dow announced major advancements in its supply of recycled plastic products to customers. The developments will allow the company to begin supplying clients with entirely circular polymers in 2022. All of these efforts are said to make it possible to recycle plastics that are now unrecyclable, such as flexible plastics used in packaging, which are normally burnt or disposed of in landfills. Breaking down mixed waste plastics into their original form to make new virgin polymers is known as advanced recycling.

April 2021- Slide products, A leading US-based leading plastic processing aids manufacturer, launched a high-temperature purging compound. This purging compound is targeted at engineer-grade resins such as polyphenylene sulfide, PEEK, PET, polyetherimide, and liquid crystal polymer.

Intended Audience


This report will be beneficial for every stakeholder of the purging compound market such as :



  • Manufacturers of purging compound

  • Research and Development Institutes

  • End-user industries

  • Traders and distributors

  • Investors


Report Overview


This report provides an in-depth analysis of the purging compound market in terms of current value and future forecast. We have also identified the problems and prospects of the given market.


Moreover, technological analysis of the product will greatly help to make decisions about investment in the product. Furthermore, this report contains a detailed analysis of every segment of the given market for the current forecast period. This report has also highlighted the key players and the current developments in the purging compound market. 

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