The global plastic compounding market revenue is expected to expand at a lucrative CAGR over the forecast period. Rising demand for plastics in various end-use industries is expected to be a major factor driving market growth.
The global plastic compounding market report has been segmented on the basis of type, application, and region.
On the basis of the product, the global plastic compounding market has been segmented High-density polyethylene, Low-density polyethylene, polypropylene, polyvinyl chloride, polystyrene, thermoplastic polyesters, and others (polybutylene terephthalate, polyimide, polycarbonate, and acrylonitrile butadiene styrene). Polyvinyl chloride segment is expected to witness steady growth rate over the forecast period. Growing demand for polyvinyl chloride in the automotive industry owing to lightweight property is expected to drive segment growth over the forecast period.
On the basis of application, the global target market has been segmented into automotive, construction, packaging, electrical & electronics, and others (industrial equipment and consumer goods). Packaging segment is expected to witness higher growth rate over the forecast period. Plastics such as polyvinyl chloride, polypropylene, polyamide, and high-density polyethylene are used as packaging material.
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On the basis of region, the global plastic compounding market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America market is expected to grow at a rapid pace over the forecast period. Presence of a large number of automotive manufacturers in the region is expected to support revenue growth of North America plastic compounding market. In addition, growing residential construction in the US and Canada is anticipated to augment market growth in the region
Key players operating in the global plastic compounding market include LyondellBasell Industries N.V., BASF SE, Saudi Basic Industries Corporation, The Dow Chemical Company, E.I. du Pont de Nemours and Company, Kraton Polymers Inc., Solvay S.A., RTP Company, Inc., A. Schulman, Inc., and Polyvisions Inc.