KEY FINDINGS The global plastic compounding market is set to project a CAGR of 6. 33% in terms of revenue and 4. 61% in terms of volume during the forecasting period of 2021 to 2028.
New York, Aug. 24, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "GLOBAL PLASTIC COMPOUNDING MARKET FORECAST 2021-2028" - https://www.reportlinker.com/p05827744/?utm_source=GNW
The market growth is primarily credited to factors such as the increasing demand from automotive manufacturers for making lightweight vehicles, the rising applications due to infrastructure growth, and plastics constituting an ideal substitute compared to other materials.
Plastic compounding is a process of blending plastics with additives in their molten state.During this process, its characteristics and properties are altered to suit the application’s requirements.
The final product formed during the process is called a plastic compound or plastic composite.
The increasing demand for fuel-efficient vehicles in order to reduce running costs, weight, as well as fuel consumption, lead to the penetration of plastic composites into the automotive sector.Plastic composites are lighter and provide stiffness to vehicles.
This factor is anticipated to bolster the demand for plastic compounding across the automotive industry.In addition, the introduction of new car models encompassing more features and broad usage is set to fuel the production of composites for automotive applications.
Moreover, the environmental regulations associated with low CO2 emissions and growing fuel efficiency in the United States and Europe further augment the demand across the global plastic compounding market.
The global plastic compounding market growth evaluation comprises the analysis of Europe, North America, the Asia-Pacific, and the Rest of World.Europe is anticipated to grow with the highest CAGR in terms of revenue and volume during the forecasted years.
The market growth of the region is accredited to the increased demand for green building activities, the rising need for electric vehicles, and the incentives and initiatives introduced by the government.
The global plastic compounding market is characterized by numerous multinational and regional corporations, with a significant presence across the value chain.The emergence of various minor market players, given the low entry barrier and unorganized industrial nature, is anticipated to fuel rivalry among industry participants.
Key companies operating in the market are BASF SE, Dow Chemical Company, Solvay SA, etc.
Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation cater to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments
1. ASAHI KASEI CORPORATION
2. AURORA PLASTICS (S&E SPECIALTY POLYMERS LLC)
3. BASF SE
4. COVESTRO AG
5. DOW CHEMICAL COMPANY
7. KRATON CORPORATION
8. KURARAY CO LTD
9. LANXESS AG
10. LYONDELLBASELL INDUSTRIES NV
11. RTP COMPANY
12. SAUDI BASIC INDUSTRIES CORPORATION (SABIC)
13. SO.F.TER GROUP (ACQUIRED BY CELANESE)
14. SOLVAY SA
15. TEIJIN LIMITED
16. TEKNOR APEX COMPANY
17. WASHINGTON PENN PLASTIC CO INC (WPP)
Read the full report: https://www.reportlinker.com/p05827744/?utm_source=GNW
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