Plastic Compounding Market - Forecast (2023 - 2028)

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Plastic Compounding MarketMarket size, Industry
outlook, Market Forecast, Demand Analysis, Market
Share, Market Report 2021-2026
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• The plastic compounding market size is forecast
  to reach US88.1 billion by 2027 after growing at
  a CAGR of 5.4 during 2022-2027. Plastic
  compounding involves the processing of plastics
  to obtain multiple plastic compounds
  of thermoplastic elastomers and thermosetting
  polymers with specific properties by adding a
  wide variety of additives and modifiers. A wide
  variety of compounded plastics such
  as polyethylene terephthalate, polyurethane, acryl
  onitrile butadiene styrene is obtained. These
  plastic compounds are later used in multiple
  industries, ranging from automobiles to aerospace
  and appliances. 

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• Key Takeaways
• Polypropylene compounds dominated the market in
  2021. This type of compounded plastic offers
  robust chemical and heat resistance, making it
  the got to option in the market.
•  
• The growth in automotive sector is driving the
  markets growth. For instance, according to the
  data by the European Automobile Manufacturers
  Association, in June 2021, registrations in
  passenger cars surged by 10.4 compared to the
  registrations in the same month last year. 

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By Distribution Channel- Segment
Analysis Polypropylene compounds dominated the
plastic compounding market in 2021. This type of
compounded plastic comes with lower density,
flexibility, toughness, and good heat resistance
properties, making it suitable for the production
of lightweight and durable parts in several
end-use industries. Owing to such diverse
properties, market players and research
organizations are focused on the expansion of the
polypropylene compounds portfolio. For instance,
as per the March 2019 journal by Multidisciplinary
Digital Publishing Institute,
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• Plastic Compounding Market
  Outlook 
•   Celanese Corporation
• BASF SE
• Lanxess AG
• LyodellBasell
• Solvay SA
• Kraton Corporation
• SABIC
• Chevron Phillips Chemical Company
• Covestro AG
• Arkema Group

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Plastic Compounding Market Forecast
(2023 - 2028) Learn More About the Report _at_
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ounding-Market-Research-507193
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