Global Plastic Compounding Market

Plastic Compounding Market Size, Share, Growth Analysis, By Polymer Type, By Additive Type, By End User Industry, By Process, By Region - Industry Forecast 2025-2032

Report ID: SQMIG15A2451 | Region: Global | Published Date: December, 2024
Pages: 175 | Tables: 108 | Figures: 76

Plastic Compounding Market News

  • In May 2024, EcoCortec® announced the launch of compounding operations for VpCI® polymers and bio-resins. The company is a subsidiary of Cortec® Corporation and launched its operations at the Beli Manastir plant in Croatia. The new facility will help EcoCortec shorten lead times to improve customer experience and promote sustainability as well.
  • In December 2023, Sirmax Group, a leading provider of polypropylene compounds and other plastic products from Italy announced the start of construction of its new compounding facility in India. The new facility is being built in Tamil Nadu and is expected to be completed and operational in 2026 as Srimax expands its operations in India.
  • In July 2023, Polyplastics, a leading provider of engineered plastics from Japan announced the launch of its re-compounding service for engineered plastics. The launch was part of the company’s DURACIRCLE® initiative to promote sustainability in the business and achieve the goal of a 100% recycling rate for their plastics.
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Global Plastic Compounding Market size was valued at USD 63.45 billion in 2022 and is poised to grow from USD 68.02 billion in 2023 to USD 118.63 billion by 2031, growing at a CAGR of 7.2% during the forecast period (2024-2031).

Plastic compounding manufacturers should focus on investing in the research and development of products that are compliant with the changing regulatory landscape. Creating sustainable and easily recyclable plastic compounds will also emerge as a key opportunity for all plastic compounding providers in the future. Targeting the automotive and electronics industries will offer good returns for plastic compounding companies in the long run. 'BASF SE ', 'LyondellBasell Industries N.V. ', 'Dow Inc. ', 'SABIC ', 'DuPont ', 'Covestro AG ', 'Solvay S.A. ', 'Lanxess AG ', 'Celanese Corporation ', 'RTP Company ', 'PolyOne Corporation ', 'A. Schulman, Inc. ', 'Clariant AG ', 'Mitsubishi Chemical Corporation ', 'Asahi Kasei Corporation ', 'Teijin Limited ', 'Toray Industries, Inc. ', 'LG Chem Ltd. ', 'Sumitomo Chemical Co., Ltd. ', 'SABIC Innovative Plastics'

Sales of consumer electronics and appliances are increasing at a rapid pace around the world owing to rapid digitization. Plastic compounds are widely used in consumer electronics and appliances for their electrical insulation properties, durability, and flexibility in design. So as the demand for consumer electronics increases it is also expected to favor the global plastic compounding market forecast as well.

Bio-based Plastic Development: Almost all plastic compounding companies are projected to focus on the development of bio-based plastic compounding products. As emphasis on sustainability increases and regulations get stricter for the use of conventional plastic compounds, this plastic compounding market trend is projected to help companies stay relevant in the long term and offer new business scope as well.

The Asia-Pacific region is estimated to hold sway over global plastic compounding demand outlook going forward. The presence of a robust manufacturing industry, growing sales of consumer electronics and vehicles, and supportive government initiatives to promote plastic compound manufacturing are all expected to help Asia Pacific account for a prominent chunk of the global plastic compounding market share. India, China, Korea, Philippines, and Japan are estimated to be the leading markets for plastic compounding providers operating in this region owing to the presence of top automotive manufacturers. Low labor costs and the high availability of cheap raw materials are also attracting plastic compounding companies to this region.

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Global Plastic Compounding Market

Report ID: SQMIG15A2451

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