Title: North America Plastic Compounding Market by Global Trends, Opportunities And Industry Forecast To 2026
1 North America Plastic Compounding Market Outlook
- Industry Statistics Analysis By 2026
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2 - North America Plastic Compounding Market To Hit
USD 23.38 Mn By 2026. The proliferation of the
automotive and consumer goods industries is
expected to accelerate North America plastic
compounding market outlook up to 2026. - With growing consumer awareness regarding the
detrimental impact of plastic waste on the
environment, bio-based plastic innovation is
expected to gain traction in the coming years.
Bio plastics are manufactured from plant-derived
materials, rendering their adoption crucial in
minimizing the use of petroleum resources,
thereby limiting carbon dioxide emissions. The
material can be colored, reducing emissions of
Volatile Organic Compounds (VOCs) associated with
the painting process. Several automotive
manufacturers, including Toyota, Mazda, and
others, are working on the use of new bioplastic
grades. - Automotive is a major end-user of compounding
plastics. A car requires around 30,000
components, of which, approximately one-third is
comprised of plastics. When analyzing the role of
plastic compounding in automobiles, achieving
weight reduction has become a crucial topic to
address. Stringent car pollution government
standards imposed by the United States and Canada
are putting pressure on automakers to improve
vehicle fuel economy. Plastic has emerged as one
of the most significant materials required for
vehicle construction, performance, and safety,
owing to fuel efficiency and, as a corollary,
reduced greenhouse gas emissions.
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4 - With a diverse spectrum of end-user industries,
the United States holds a considerable chunk of
the North America plastic compounding industry
share. Here are some of the recent developments
in the U.S. market - French specialized PVC compounder Benvic joined
the US market in April 2019 with the recent
acquisition of custom compounder Chemres,
Princeton, N.J. - Albis Plastics stated in February 2020 that it
will produce plastic compounding from its new
manufacturing location in Duncan, SC. - LyondellBasell Industries, BASF SE, Solvay S.A.,
Kraton Corporation, Aurora Plastics LLC, SABIC,
and Foster Corporation are among the leading
plastic compounding companies in North America.
Total North America plastic compounding industry
size is projected to surpass USD 23.38 billion by
2026. - Regional market share from the consumer goods
category is expected to grow at a CAGR of 6.7 up
to 2026. Packaging is quickly becoming one of the
most significant marketing tactics for acquiring
clients. Development of numerous home appliances,
including television sets, microwaves, food
processors, and refrigerators, are driving the
need for plastic components. The market share
from the thermoplastic category dominated the
market in 2019, accounting for approximately 88
of the volumetric share.
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5 Segments of North America Plastic Compounding
Market
- North America Market, By Product
- Thermoplastic Polymer
- Polyethylene
- Polypropylene
- Polyester
- Polycarbonate
- Polyethylene Terephthalate
- Polyvinyl Chloride
- Acrylonitrile Butadiene Styrene
- Polybutylene Terephthalate
- Poly(Methyl Methacrylate)
- Polyoxymethylene
- Thermosetting Polymer
- Polyurethane resin
- Epoxy resin
- Thermoplastic Elastomer
- Polyamide
- Polyurethane
- SBC
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