Ameco Research — The new research from Ameco Research on Global Plastic Compounding Market Size Report for 2023 intends to offer target audience with the fresh outlook on market and fill in the knowledge gaps with the help of processed information and opinions from industry experts. The information in the research report is well-processed and a report is accumulated by industry professionals and seasoned experts in the field to ensure of the quality of research.
The research is backed by extensive and in-depth secondary research which involves reference to various statistical databases, national government documents, relevant patent and regulatory databases, news articles, press releases, company annual reports, webcasts, financial reports, and a number of internal and external proprietary databases. This estimated data is cross-checked with industry experts from various leading companies in the market. After the entire authentication process, these reports are shared with subject matter experts (SMEs) for adding further value and to gain their insightful opinion on the research. With such robust process of data extraction, verification, and finalization, we firmly endorse the quality of our research. With such extensive and in-depth research and comprehensive coverage of information, it is always a possibility of clients finding their desired information in the report with enclosure of key components and valuable statistics in all regards.
Plastic compounding is a blend of base polymers such as polyethylene (PE), polypropylene (PP), and polyvinyl chloride (PVC) with an additive. The base polymers are first melted and blended with additives such as anti-oxidants, colorants, and reinforcements to achieve the required properties. Combination of polymers with additive enhances the physical, thermal, and electrical properties of the plastic so as to make it suitable for applications in an array of end-use industries. Various properties of plastics compounding such as lightweight, flexibility, low density, durability, improved barrier resistance, insulation, energy-saving, improved weathering, and aesthetic appeal have increased application of plastics compounding in end-use industries.
According to Our analysis, the global plastic compounding market is estimated to reach USD 7,62,400 million by 2023 registering a CAGR of 6.03% during the forecast period. The polypropylene was dominant segment, accounted for second-largest market share and was valued at USD 1,67,604.7 million in 2017; it is projected to exhibit a CAGR of 6.50% during the forecast period. The application is increasing in the automotive industry owing to its high impact resistance property. Polypropylene has good fatigue resistance and better chemical and temperature resistance, which has made it a popular material for multiple applications. Thus, the demand for lightweight automotive parts driven by the need for fuel efficient and reduced emission vehicles is favoring the demand for polypropylene. However, the raw materials prices used to produce plastic compounding such as polymers, plastic additives, lubricants, and solvents are volatile. These raw materials are derived from crude oil. Volatile crude oil prices due to political instability, supply–demand gap, and seasonal variations are negatively expected to impact the growth of the global market. The global crude oil prices have witnessed fluctuations over the recent past, which is expected to hindering the global market growth. Moreover, the growing production and consumption of plastic compounds have led to an increase in plastic waste, which is favoring the use of recycled plastic in various end-use industries…
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