Plastic Compounding is a process of preparing plastic formulation by mixing or blending polymers and additives in a molten state to achieve the desired characteristics. These blends are automatically dosed with fixed set points usually through hoppers. The copolymers used in this process are ABS, SAN, SMA, and Etc. with additives such as anti-oxidants, UV-stabilizers and other value adding agents and sometimes a strengthening component is added such as glass fiber.
Global Plastic Compounding Market: Key Players
The research study includes profiles of leading companies operating in the global Plastic Compounding market. Key players profiled in the report include: The Dow Chemical Company, BASF SE, LyondellBasell Industries, Solvay SA, Kraton Corporation, Aurora Plastics LLC, A. Schulman, SABIC, Foster Corporation, and RTP Company.
Companies are rapidly expanding their production capabilities to join their market position. China witnesses rapid expansion due to growing industrialization.
Drivers for the Global Plastic Compounding Market:
Wide array of application in various industries, such as automotive, electrical & electronics, and construction drives the market of plastic compounding market. In construction sector, plastic compounding is used performance safety windows, insulation materials, floorings, doors, storage tanks, pipes and cables which enhances its demand thereby propelling the growth of market. Additionally, its growing use in residential and commercial projects in developing countries is positively influencing the product adoption.
Opportunities for the Global Plastic Compounding Market:
Increasing demand for lightweight vehicles all over the world can create lucrative opportunities for plastic compounding market as use of plastic compounding material will increase. Further, growing electronics market in developing countries due to growing economy and infrastructure will propel the growth of plastic compounding market in near future.
Restrains for the Global Plastic Compounding Market:
Plastic compounding products have certain non-biodegradability and carcinogenic nature. Thus, stringent environment regulations and continuous evaluation from regulatory bodies can hinder the growth of plastic compounding market. Oscillating petrochemical prices can hamper the growth of the plastic compounding market during the forecast period.
Region Wise, Global Plastic Compounding Market Analysis:
Asia Pacific region held maximum share in plastic compounding market due to growing automotive, industrial machinery, construction, packaging, and electrical and electronics industries in the region especially in countries like India, China, Japan and South Korea. Additionally, increasing population along with increasing economy propels the growth of plastic compounding market in this region. Europe will witness substantial growth in the plastic compounding market owing to the growing demand for polyurethanes, polyethylene (PE), polypropylene (PP) from aerospace and construction sector.
Covid-19: Impact and Recovery Analysis for Global Plastic Compounding Market:
The world is greatly affected by the uncertain raise of the covid-19 Pandemic among the population. The Corona virus outbreak has disrupted & disturbed every sector of business as well as human activity. In most parts of the world there has been a complete restriction set by governments regarding various activities and in turn this is greatly affecting the financial stability of industries. However, plastic compounding market is growing at pace during COVID-19 due to increased demand of PPE. Thus, increasing the production of personal protective equipment and medical devices to combat the COVID-19 is anticipated to impact the plastic compounding activities across the globe positively. For example, in March 2020, Clariant has introduced a new family of ABS compounds formulated specifically for pharmaceutical packaging and medical device applications.
Global Plastic Compounding Market: Product analysis
- Thermoplastic Polymers
- Thermosetting Polymers
- Thermoplastic Elastomers
Global Plastic Compounding Market: Application analysis
- Consumer Goods
- Electrical & Electronics
Global Plastic Compounding Market: Region analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of L.A.
- Middle East and Africa
- South Africa
- Rest of Middle East