According to the report, the global plastic compounding market was estimated at $565.41 billion in 2018 and is expected to hit $932.33 billion by 2026, growing at a CAGR of 6.4% from 2019 to 2026. The report offers an in-depth analysis of top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Click Here To Access The Sample Report @ https://www.alliedmarketresearch.com/request-sample/5288
Increase in production of lightweight automobiles and surge in infrastructure development have fueled the growth of the global plastic compounding market. On the other hand, high prices of plastic compounds and harmful impact of VOCs present in the coating hamper the growth to some extent. Nevertheless, advancement in filter material technology is expected to create multiple opportunities in the market.
The packaging segment to rule the roost-
Based on end use, the packaging segment contributed to more than one-third of the total market share in 2018 and is expected to retain its top status during the forecast period. This is owing to the increased customer focus on hygiene, protection, contamination, and ease of transportation. The building & construction segment, on the other hand, is anticipated to grow at the highest CAGR of 6.7% during the period 2019–2026.
The polyethylene segment to grow at the fastest rate-
Based on type, the polyethylene segment is expected to grow at the fastest CAGR of 6.8% during the study period. This is attributed to its superior qualities such as high resistance to heat, impact resistance, and durability. Simultaneously, the polypropylene segment held the largest share in 2018, accounting for nearly one-fourth of the total market. Its large use in the packaging and automotive industry has driven the growth.
Asia-Pacific to continue its dominance till 2026-
Based on geography, the Asia-Pacific region garnered more than two-fifths of the total market share in 2018 and is expected to dominate throughout the forecast period. Cheap labor cost, low setup costs associated with manufacturing units, and low cost of plastic compounding raw materials in the region have spurred the growth. Europe, on the other hand, is projected to grow at the fastest CAGR of 6.7% through 2019– 2026.
Key market players-
Leading market players analyzed in the report include BASF SE, Celanese Corporation, SABIC, Covestro AG, Kingfa Sci. and Tech. Co., Ltd., Solvay SA, DowDuPont Inc., Asahi Kasei Corporation, PolyOne Corporation, and LyondellBasell Industries Holdings B.V. They have adopted a number of high-end strategies to heighten their stand in the market.
Obtain Report Details: https://www.alliedmarketresearch.com/plastic-compounding-market
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
5933 NE Win Sivers Drive
#205, Portland, OR 97220
Toll Free: 1-800-792-5285
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Follow Us on: LinkedIn Twitter