Plastic Compounding companies & industry forecast to 2024
Global Market Insights has full report with growth drivers Titled "Plastic Compounding Market Size, Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Russia, China, India, Japan, Malaysia, Thailand, Indonesia, Australia, Brazil, Saudi Arabia, UAE, South Africa), Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024".
Global Plastic Compounding Market size is projected to witness a significant growth between 2017 and 2024. Compounding of plastic is done to convert the base resin in a desired plastic form that is more usable, effective and uniform. Upsurge in the market is observed owing to its multiple and varied applications in end use industries such as automotive, electrical & electronics, and construction.
Plastic components are preferred over metals in automobiles owing to their easy moldability, superior impact strength, scratch resistance, better aesthetics, light weight and recyclability. With the use of plastic components in the automobiles there is a weight saving of nearly 75% and 30% in cost savings of automobile components.
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- Plastic Compounding Market size & share forecast by product & application, 2017-2024
- Growth drivers, pitfalls & industry challenges
- Key Plastic Compounding Market growth opportunities & emerging business models
- Competitive benchmarking with market share analysis and company profiles
The differentiating factor of Plastic Compounding market report by Global Market Insights, Inc. when compared with other, similar syndicated research studies includes a 360-degree synopsis of trends for a period of more than 10 years including historic information as well as future outlook. Business focused multiple trends for Plastic Compounding industry are discussed along with regional trends to offer an overall view of the market.
The ‘industry insights’ chapter of this research provides the most comprehensive analysis of Plastic Compounding market covering segmentation, size, forecasts, ecosystem analysis and more. Industry impact forces (regional and global) that cover growth drivers and challenges, growth potential analysis, a strategy dashboard for competitive landscape of Plastic Compounding market support this sector specific data and information points.
Based on product type, the market is segmented as polystyrene, polyamides, polycarbonate, olefins, thermoplastic polyolefins, polyethylene terephthalate, and PVC. On the basis of application, the market is divided into composites, insulation materials, floorings, storage tanks, vehicle exterior panels, and vehicle interior trims.
Asia Pacific accounts for significant market share in terms of volume in the global plastic compounding market. Booming construction activities in India, China, and South Korea is contributing substantially in consumption of plastic compounds such as olefins. Europe is projected to register a high growth rate in the market owing to its thriving automobile and electronics market.
North America is following an upward trend in consumption of plastic compounds in its food packaging and consumer goods industry. Positive outlook of infrastructural developments in the U.S. is projected to fuel plastic compounding market in the region.
Some of the major companies operating in this segment are Dow Chemical Co., BASF, LyondellBasell, Kraton Polymers, S&E Specialty Polymers LLC, Heritage Plastics, Inc, A. Schulman, and Foster Corporation.
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