Global $87.8 Billion Plastic Compounding Markets to 2027
DUBLIN, Sept. 30, 2020 /PRNewswire/ -- The "Plastic Compounding Market Size, Share & Trends Analysis Report by Product (PP, PET, TPV, TPO, PVC, PBT, ABS), by Application (Automotive, Electrical & Electronics, Construction), by Region, and Segment Forecasts, 2020 - 2027" report has been added to ResearchAndMarkets.com's offering.
The global plastic compounding market size is anticipated to reach USD 87.8 billion by 2027, expanding at a CAGR of 5.2% over the forecast period.
Plastic Compounding Market Report Highlights
- In terms of revenue, polypropylene is the most consumed plastic compounding product. The rise in its production can be attributed to high demand from packaging and medical device industries across the globe
- Increasing requirement for flame retardancy, heat resistance, and improved serviceability is anticipated to drive growth in electronics and electrical industry
- Construction is the leading application segment for polyethylene compounds with the segment accounting for a mass application globally
- Major plastic compound manufacturers have been acquiring independent compounding facilities, rather than establishing plants, to strengthen their position
The rapidly developing construction and automobile sectors are anticipated to drive the demand for interiors, exteriors, and underhood components. The maximum application of plastic compounding in underhood components in the automotive industry, building interiors and exteriors in construction and infrastructure industries, and in electronics, durables, and wire and cable industries are anticipated to further fuel the growth.
However, the COVID-19 outbreak has affected the raw material prices of plastic compounding. Recently, crude oil prices hugely slumped due to the COVID-19 pandemic. A decline in demand, halts or slowdowns in the manufacturing industry, and restrictions in supply and travel are resulting in the decline of crude oil prices. These factors are expected to have a short-term impact on the prices of crude oil. Thus, the raw materials providers who can procure or store crude oil in the current situation can generate a significant profit margin.
Polyethylene Terephthalate (PET) is the plastic used for manufacturing bottle containers used for packaged water and carbonated beverages. As a raw material, PET is recognized as a safe, strong, flexible, non-toxic, and lightweight material that is 100% recyclable. Hence, it has gained wide acceptability and in turn, is anticipated to drive the growth of the market for plastic compounding over the forecast period.
Asia Pacific was the leading revenue generator for the PET compound segment in 2019. The ever-increasing demand for beverages-mainly carbonated beverages and nutritional drinks-is anticipated driving the regional consumption of PET compounds. This trend is favored by a rise in population, changing lifestyles, and the emergence of domestic beverage manufacturers. The presence of a large pool of contract bottlers in the region shall also impact the scope of packaging applications in the Asia Pacific.
Traditionally, the construction industry has been a major consumer of plastics with the product application ranging from pipe fittings and insulation to masonry materials and equipment. Plastic compounds are modified in accordance with their requirements. For instance, flame retardant additives are added to Polyvinyl Chloride (PVC) compounds and form a very crucial aspect of building materials.
Developing countries, such as Mexico are expected to benefit from rising construction spending and inclination of consumers toward utilizing sustainable and lightweight building materials in place of conventional materials. The expanding automotive sector and changing consumer buying behavior from considering cars as luxuries to necessities are also significant factors anticipated to positively impact the plastics sector and drive compounding activities in the region.
The recent outbreak of the COVID-19 pandemic has affected the revenue generation of the companies operating in the plastic compounding market. For instance, SABIC, one of the prominent players in the plastic compounding market, witnessed a decline in revenue in the first quarter of 2020 by 18% as compared to the first quarter of 2019. This is attributable to lower demand resulting from the COVID-19 crisis and challenges in the supply-demand balance.
Key Topics Covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
2.1 Market Snapshot
Chapter 3 Plastic Compounding Market Variables, Trends & Scope
3.1 Market segmentation and scope
3.2 Market Lineage Outlook
3.2.1 Plastic compounding Market Outlook
3.3 Penetration & Growth Prospect Mapping
3.4 Industry Value Chain Analysis
3.4.1 Raw Material Trends
3.4.1.1 Polypropylene (PP)
3.4.1.2 Polyethylene Terephthalate (PET)
3.4.2 Supply/Distribution Channel Analysis
3.4.3 Vendor Selection Criteria Analysis
3.5 Regulatory framework
3.5.1 Standard & Compliances
3.5.1.1 Polyethylene Terephthalate (PET)
3.5.1.2 Polyethylene (PE)
3.5.1.3 Polyvinyl Chloride (PVC)
3.5.1.4 Acrylonitrile Butadine Styrene (ABS)
3.5.1.5. Polystyrene
3.5.2 Safety
3.5.1.1 Polyurethane
3.5.1.2 Polypropylene
3.6 Market Dynamics
3.6.1 Market Driver Analysis
3.6.1.1 Rising demand from the automotive industry
3.6.1.2 Increasing demand from the construction industry
3.6.1.3 Increasing demand from food & beverage packaging application
3.6.2 Market restraint Analysis
3.6.2.1 Volatile raw material prices
3.6.3 Industry Challenges
3.6.3.1 Production process efficiency
3.7 COVID-19 impact on the plastic compounding market
3.8 Business Environment Analysis: Plastic Compounding Market
3.8.1 Porters five forces analysis
3.8.2 PESTEL analysis
Chapter 4 Plastic Compounding Market: Type Estimates & Analysis
4.1 Plastic compounding market: Type movement analysis
4.2 Polyethylene (PE)
4.3 Polypropylene (PP)
4.4 Thermoplastic vulcanizates (TPV)
4.5 Thermoplastic polyolefins (TPO)
4.6 Polyvinyl chloride (PVC)
4.7 Polystyrene (PS)
4.8 Polyethylene terephthalate (PET)
4.9 Polybutylene terephthalate (PBT)
4.10 Polyamide (PA)
4.11 Polycarbonate (PC)
4.12 Acrylonitrile butadiene systems (ABS)
4.13 Others
Chapter 5 Plastic Compounding Market: Application Estimates & Analysis
5.1 Plastic compounding market: Application movement analysis
5.2 Automotive
5.3 Building & Construction
5.4 Electrical & Electronics
5.5 Packaging
5.6 Consumer Goods
5.7 Industrial Machinery
5.8 Medical Device
5.9 Optical Media
5.10 Others
Chapter 6 Plastic Compounding Market: Region Estimates & Analysis
Chapter 7 Competitive Landscape
7.1 Key global players & recent developments & their impact on the industry
7.1.1 Key company/competition categorization
7.2 Vendor landscape
7.3 List of key companies (Public & Private)
7.3.1 Key Companies Response to the COVID-19 Outbreak
7.3.2 Company market position analysis
Chapter 8 Company Profiles
- BASF SE
- Saudi Basic Industries Corporation (SABIC)
- Dow Inc.
- LyondellBasell Industries Holdings B.V.
- Kraton Polymers, Inc.
- DuPont
- RTP Company, Inc.
- S&E Specialty Polymers, LLC
- Dyneon GmbH & Co KG
- Asahi Kasei Plastics
- Covestro AG
- Washington Penn Plastics (WPP) Co., Inc.
- Eurostar Engineering Plastics (EEP)
- Kuraray Plastics Co., Ltd.
- A. Schulman, Inc.
- Teijin Limited
- Lanxess AG
- Solvay S.A.
- SO.F.TER Group
- Polyvisions, Inc.
- Ravago Holding S.A.
- Heritage Plastics, Inc.
- Chevron Phillips Chemical Company LLC
- Sumitomo Bakelite Co., Ltd.
- Nova Polymers, Inc.
- Adell Plastics, Inc.
- Foster Corporation
- MRC Polymers, Inc.
- Flex Technologies, Inc.
- China XD Plastics Co., Ltd.
- Kingfa Sci. & Tech. Co., Ltd.
- PolyOne Corporation
- Guangdong Silver Age Sci. & Tech. Co., Ltd.
- China General Plastics Corporation (CGPC)
For more information about this report visit https://www.researchandmarkets.com/r/ilqyuo
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