Plastic Compounding Market share by applications and regions for 2017- 2024

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Major Key Players Of Plastic Compounding Market
Industry Share 20162024
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Global Market Scenario of Plastic Compounding
Industry

• Plastic Compounding Market Size will surpass USD
  50 billion by 2024 according to a new research
  report by Global Market Insights, Inc.
• Plastics usage has increased twentyfold in the
  past half-century and is expected to double again
  in the next 20 years. Plastic compounders play a
  vital role in enhancing the performance of
  plastic resin with key additives to meet the
  end-user industry needs. Global plastic
  compounding market will be propelled by rising
  automotive industry by 2024.
• Plastic compounding consumption per vehicle in
  the U.S. was roughly USD 52 per vehicle in 2016.
  Currently, an average car consists of around
  10-15 plastics of total car weight. The tendency
  to use plastic in automotive will increase in the
  forecast timeframe due to government initiatives
  across the globe to reduce vehicular emissions by
  reducing automotive weight. 
• Plastic compounding market will witness
  substantial demand in consumer goods by 2024.
  Plastics are used in consumer goods for a wide
  range of applications, including food packaging,
  furniture, household appliances, toys, etc.
  Packaging is integral to the delivery of safe,
  high-quality consumer products. Various household
  electrical appliances will have substantial
  demand for plastics in the coming years.

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• PVC is widely used to insulate electric wiring,
  while thermosetting plastics are used for
  switches, light fittings and handles. 3D printing
  applications, innovative packaging techniques for
  consumer goods and surging demand for bioplastics
  will be few significant trends driving the global
  plastic compounding market by 2024.
• Global plastic compounding market for
  thermoplastic polymers was valued at over USD 18
  billion in 2016. Thermoplastic polymers are
  estimated to lead the global plastic compounding
  market by 2024. The higher demand will be
  attributed to their re-usable nature, wide range
  of applications and lower manufacturing costs
  compared to the other segments. 
• Thermoplastic elastomers segment was valued more
  than USD 7 billion in 2016. Thermoplastic
  elastomers have progressed as a substitute for
  metal, synthetic or natural rubber, wood, glass,
  etc. Cumulative expenditure in medical,
  automotive and construction sectors in addition
  to the supervisory compliances for sustainable
  product development will propel the plastic
  compounding market for thermoplastic elastomers
  by 2024.

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360 Industry Analysis

• Consumer goods was a key end-user segment in
  global plastic compounding market in 2016. The
  segment generated above USD 7 billion in 2016 and
  is projected to witness extensive gains by 2024.
  Plastic compounding market for consumer goods
  will have substantial demand for packaging,
  household appliances, furnishing applications,
  etc. in the coming years. Consumer goods is
  projected to be the fastest growing segment over
  the forecast period. 

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• Regional Analysis
• North America constituted approximately 18 of
  the global market share for plastic compounding
  in 2016. Presence of packaging giants as
  International Paper, Tetrapak, Reynolds Group,
  Ball Corporation and Owens-Illinois will have a
  positive impact on plastics demand in the region.
  Rising thermoplastic elastomer usage in sports
  equipment, paving roofing, personal hygienic
  products and medical equipment will boost the
  regional plastic compounding market growth.
• Competitive Analysis
• Significant market players include A. Schulman,
  RTP Company, Dow Chemical, LyondellBasell
  Industries, BASF, SABIC, Solvay, etc. Various
  research initiatives are constantly taken up by
  companies to improve the production capacity. For
  instance, in February 2016, A. Schulman expanded
  compounding capacity at its Kerpen plant in
  Germany, by adding two new production lines. the
  company had invested in a fully automatic
  packaging line in addition to the twin screw
  extruders, In December 2015, A. Schulman expanded
  the capacity of its polypropylene compounding
  plant in Saudi Arabia in a joint venture with
  Saudi resin maker National Petrochemical
  Industrial. 

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