BCC Research Projects 5.8% CAGR from 2024, with Market
Growing from $57.8 Billion in 2023 to
$80.3 Billion by 2029
BOSTON, July 8, 2024
/PRNewswire/ -- The global market for plastics compounding involves
the process of blending different types of plastics with additives
to create new materials with specific properties for various
applications. This market is growing rapidly due to increasing
demand in industries like automotive, electronics, and packaging.
Compounded plastics are essential for creating products that are
stronger, lighter, and more durable. As technology advances, the
market continues to expand, driven by the need for innovative
materials that meet environmental and performance standards.
Market Expansion and Revenue Surge
According to the latest BCC research study, the demand for
Global Market for Plastics Compounding expected to grow
from $57.8 billion in 2023 and will
reach $80.3 billion by the end of
2029 at a compound annual growth rate (CAGR) of 5.8% from
2024 to 2029.
This report looks at the growing plastics compounding market,
focusing on polymers and additives used in industries like
transportation, electronics, packaging, construction, healthcare,
and consumer goods. It examines key categories and regions to
predict market growth from 2024 to 2029. The report also discusses
market strategies, regulations, key players, and driving forces
like the need for recyclable, flame-resistant, and long-lasting
plastics. It breaks down the market by product types (like PE, PP,
PVC), sources (fossil-based, recycled, bio-based), additives, and
end uses. Market size and forecasts are provided in terms of value
and volume.
Some Interesting Facts about Green Tires Market
Using bio-based and recycled resins in plastic compounding
offers new opportunities for creating eco-friendly, biodegradable,
and sustainable products. Adding special additives can make
plastics anti-microbial, self-cleaning, and scratch-resistant,
which is useful for healthcare and consumer goods. Plastic
compounding is also becoming important in 3D printing and is
expected to grow in this area in the coming year.
to discover more insights and information about Global Market
for Plastics Compounding, click here for further exploration.
Factors contributing to this growth include:
- Growing Demand from End-User Industries for Compound
Plastics.: The demand for compound plastics is increasing
because many industries need them for various applications. For
example, the automotive industry uses them to make lighter and more
fuel-efficient cars, the electronics industry needs them for
durable and heat-resistant components, and the packaging industry
requires them for strong and recyclable packaging. These industries
rely on compound plastics for their unique properties, driving the
growing demand.
- Advancements in Technology and Innovation in the Plastic
Compounding Industry.: The plastic compounding industry
is experiencing significant growth due to technological
advancements and innovations. These improvements allow for the
creation of plastics with better properties, such as increased
strength, durability, and environmental friendliness. New
technologies make it possible to produce plastics that are
recyclable, biodegradable, and have special features like being
flame-resistant or anti-microbial. These advancements help meet the
growing demands of various industries and lead to the development
of new and improved plastic products.
Request a Sample Copy of the Global Market
for Plastics Compounding
Report
Synopsis
Report
Metrics
|
Details
|
Base year
considered
|
2023
|
Forecast Period
considered
|
2024-2029
|
Base year market
size
|
$57.8
Billion
|
Market Size
Forecast
|
$80.3
Billion
|
Growth Rate
|
CAGR of 5.8% for the
forecast period of 2024-2029
|
Segment
Covered
|
Product Type, Source,
Additives, End-Use
|
Regions
covered
|
North America, Europe,
Asia-Pacific, Rest of the World (RoW)
|
Countries
covered
|
U.S., Canada, Mexico,
Germany, France, Italy, Spain, Poland, China, Japan, Thailand,
Singapore, Vietnam, Middle East and Africa
|
Key Market
Drivers
|
- Growing Demand from
End-User Industries for Compound Plastics
- Advancements in
Technology and Innovation in the Plastic Compounding
Industry
|
Market Segmentation
The Global Market for Plastics Compounding can be categorized
into various segments:
- In terms of product type, the market is segmented into-
The market for plastic compounding includes various product types
such as polyethylene (PE), polypropylene (PP), polyvinyl chloride
(PVC), polyethylene terephthalate (PET), polystyrene (PS), and
others.
- In terms of source, the market is segmented into-
The plastic compounding market is divided based on the source of
materials used: fossil-based, recycled, and bio-based.
- In terms of additives, the market is segmented into-
The market for plastic compounding includes various additives such
as plasticizers, flame retardants, stabilizers, colorants, fillers
and reinforcements, antioxidants, and others.
- In terms of end-user, the market is segmented into-
The plastic compounding market serves various end-users, including
transportation, electronics and electrical, construction, medical
and healthcare, packaging, consumer goods, and others.
- In terms of region type, the market is segmented into-
The plastic compounding market is segmented by region, covering
North America, Asia-Pacific, Europe, and the Rest of the World.
this report on Global Market for Plastics Compounding
provides comprehensive insights and analysis, addressing the
following key questions:
- What is the projected market size and growth rate of the
market?
The estimated market size of the plastics compounding market will
be $ 80,325.8 million by 2029, with a
CAGR of 5.8%.
- What are the key factors driving the growth of the market?
Growing demand from end user industries for compound plastics
Advancements in technology and innovation in the plastic
compounding industry
- What segments are covered in the market?
The market is segmented based on form, application, end-user, and
region. Segmentation based on product type, the market is segmented
into polyethylene (PE), polypropylene (PP), polyvinyl chloride
(PVC), polyethylene terephthalate (PET), polystyrene (PS) and
others. Based on source, the market is segmented into fossil based,
recycled, biobased. Based on additives, the market is segmented
into plasticizers, flame retardants, stabilizers, colorants,
fillers and reinforcements, antioxidants, and others. Based on
end-use, the market is segmented into transportation, electronics
and electrical, construction, medical and healthcare, packaging,
consumer goods, and others. Regional estimates and forecasts
comprise North America,
Europe, Asia-Pacific, and the Rest of the World
(RoW).
- By end-user, which segment will dominate the market by the end
of 2029?
The transportation segment will continue to dominate the market by
the end of 2029.
- Which region has the highest market share in the market?
Asia-Pacific holds the largest
market share due to the extensive presence of key players in this
region and the high demand for automotive and electronics
applications. Additionally, the U.S. and China have been among the largest adopters of
the technology.
Some of the Key Market Players Are:
- AMCO POLYMERS
- BASF SE
- CELANESE CORP.
- COVESTRO AG
- DOW
- EXXON MOBIL CORP.
- MITSUI CHEMICALS INC.
- LANXESS
- LYONDELLBASELL INDUSTRIES N.V.
- SABIC
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