Plastic Compounding Market expected to expand at a CAGR of 7.4% from 2022 to 2030

 Plastic Compounding Industry Overview

The global plastic compounding market size is expected to reach USD 112.08 billion by 2030, according to a report by Grand View Research, Inc. It is expected to expand at a CAGR of 7.4% from 2022 to 2030. The construction and vehicle industries are expected to encourage demand for interiors, exteriors, and under-the-hood components. Plastic compounding is used in automotive under-hood components, building interiors and exteriors in construction and infrastructure, and the electrical and electronics industry, which is anticipated to boost the market growth.

 

Plastic Compounding Market Segmentation

Grand View Research has segmented the global plastic compounding market based on product, application, and region:

 

Based on the Product Insights, the market is segmented into Polyethylene (PE), Polypropylene (PP), Thermoplastic Vulcanizates (TPV), Thermoplastic Polyolefins (TPO), Poly Vinyl Chloride (PVC), Polystyrene (PS), Polyethylene Terephthalate (PET), Polybutylene Terephthalate (PBT), Polyamide (PA), Polycarbonate (PC), Acrylonitrile Butadiene Styrene (ABS), and Others.

  • The polypropylene segment led the market and accounted for more than 25.0% share of the global revenue in 2021. Its compounds are largely used in automotive applications owing to the high impact resistance and serviceability. Economic growth in Asian and Latin American markets has propelled growth in the automotive sector both in terms of vehicle sales and domestic production.
  • Polyethylene compounds are widely used in various industries such as automotive, construction, electrical and electronics, and packaging. PE is an integral material for the packaging industry. Construction is the leading application segment for polyethylene compounds with a significant share in the global market.

 

Based on the Application Insights, the market is segmented into Automotive, Building & Construction, Electrical & Electronics, Packaging, Consumer Goods, Industrial Machinery, Medical Devices, Optical Media, and Others.

  • The automotive segment accounted for more than 20.0% share of the overall revenue in 2021. Increasing incorporation of plastics, as opposed to metals and alloys in automotive components, has been a major factor fueling the segment growth.
  • The growth of the electrical and electronics industry in Asia Pacific owing to the emergence of small-scale electrical component manufacturers and electronic goods producers and a versatile manufacturing landscape.

 

Plastic Compounding Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Central & South America
  • Middle East & Africa

 

Key Companies Profile & Market Share Insights

The global market is highly fragmented with over 60.0% share occupied by Small and Medium Enterprises (SMEs). Companies are rapidly expanding their production capabilities to consolidate their market position. The industry has witnessed significant capacity expansions in China with the emergence of standalone independent compounders.

 

Some prominent players in the global plastic compounding market include

  • BASF SE
  • LyondellBasell Industries Holdings B.V.
  • Dow, Inc.
  • DuPont de Nemours, Inc.
  • SABIC
  • RTP Company
  • S&E Specialty Polymers, LLC (Aurora Plastics)
  • Asahi Kasei Corporation
  • Covestro AG
  • Washington Penn
  • Eurostar Engineering Plastics (EEP)
  • KURARAY CO., LTD.
  • TEIJIN LIMITED
  • Evonik Industries AG
  • Dyneon GmbH & Co KG

 

Order a free sample PDF of the Plastic Compounding Market Intelligence Study, published by Grand View Research.

 

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