SELBYVILLE, Delaware, Oct. 31, 2019 /PRNewswire/ -- According to a report by GMI, global plastic compounding market is expected to hit US$ 56 billion by 2026. Plastic compounding is an essential process which helps in improving the physical properties of the polymer resins by adding reinforcers or fillers. This process results in manufacturing of better plastic products which can withstand extreme conditions, making it suitable in a wide range of industries. One such industry is the automotive sector, which has been increasingly using plastics in various parts of the vehicle to make it light weight.
Expanding electronics industry will be a significant growth enabler in the plastic compounding market during the study period. The need for good quality plastics have increased in various electrical applications like wires & cables, switches, semiconductors, sockets, light fittings, etc. Plastic compounding can meet the changing demands of the electronics industry where products are becoming smaller, light weight and portable.
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Bioplastics impacting new consumer demand
Growing prominence of bioplastics is attributed towards their improved compostability and lower carbon footprint and economical production cost. Increasing demand for reducing the greenhouse gas emissions has significantly contributed towards utilization of bioplastics in end user industries such as food & beverages, packaging, agriculture and pharmaceuticals. However, fluctuation of crude oil prices have a major impact on the price competitiveness and profitability of the manufacturers, further restricting the industry expansion.
The key polymer segments covered in the report are thermoplastics and thermosets. Thermoplastic polymers will showcase potential growth prospects owing to their re-usable nature, wide range of applications and lower manufacturing costs. Surging demand for polyesters from textile industry is attributed towards their ability to retain shape and wrinkle resistance. Enhanced impact strength, ductility and durability offered by polyethylene is beneficial for its applications for consumer goods and packaging industries. Moreover, the increasing utilization of low-density polyethylene (LDPE) offering improved flexibility and unique flow properties will drive the segment growth.
Browse key industry insights spread across 220 pages with 263 market data tables & 35 figures & charts from the report, "Plastic Compounding Market Size By Product (Thermoplastic Polymers [Polyethylene, Polypropylene, Polyester, Polycarbonate, Polyethylene Terephthalate, Polyvinyl Chloride], Thermosetting Polymers [Polyurethane Resin, Epoxy Resin], Thermoplastic Elastomers [Polyamides, Polyurethanes, SBC]), By End-user (Consumer Goods, Electrical & Electronics, Construction, Automotive, Aerospace), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, South Africa, GCC), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2026" in detail along with the table of contents:
Surging production of new generation vehicles
Europe accounted for over 20% share of the plastic compounding revenues in 2018. Presence of major automobile manufacturers has positively influenced demand for compounded plastics. Surging electric vehicle sales will significantly contribute to the European plastic compounding industry. In 2018, the production of commercial vehicles in France rose to 506,000 units, with an increase of over 7.4% as compared with 2017. Expansion of manufacturing units and production capacities will prominently contribute towards increased product adoption in the near future.
New product developments will drive company strategies
New product penetration along with strategic mergers and acquisitions are some of the key strategies adopted by industry players for increasing their revenue generation opportunities. For instance, in March 2018, LyondellBasell presented polypropylene (PP) compounds offering high quality surface finish for automotive interior and exterior applications. Major industry participants operating in plastic compounding market share include BASF SE, LyondellBasell, Solvay SA, Dow Chemical Company, S&E Specialty Polymers LLC, RTP Company, Kraton Polymers, Heritage Plastics, Inc, A. Schulman, and Foster Corporation.
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Partial chapter from report table of contents (TOC):
Chapter 2. Executive Summary
2.1. Plastic compounding industry 360° synopsis, 2016 – 2026
2.1.1. Business trends
2.1.2. Product trends
2.1.3. Industry trends
2.1.4. Regional trends
Chapter 3. Plastic Compounding Industry Insights
3.1. Industry segmentation
3.2. Industry size and forecast, 2016 - 2026
3.3. Industry ecosystem analysis
3.3.1. Vendor matrix
3.3.2. Distributor channel analysis
3.4. Industry impact forces
3.4.1. Growth drivers
220.127.116.11. Growing construction industry
18.104.22.168. Increasing product application in automotive sector
22.214.171.124. Increasing consumer goods sales in Asia Pacific
3.4.2. Industry pitfalls & challenges
126.96.36.199. Environmental regulations regarding plastic recycling and application scope
188.8.131.52. Oscillating crude oil prices
3.5. Bio-based plastic compounding market potential & scope
3.5.1. Technology landscape
3.5.2. Penetration price
3.5.3. Commercialization status
3.5.4. Potential customers
3.6. Regulatory trends
3.7. Pricing analysis
3.7.1. Regional pricing
3.7.2. Cost structure analysis
3.8. Innovation & sustainability
3.9. Growth potential analysis
3.9.1. Patent landscape
3.10. Porter's analysis
3.11. Industry best practices and key buying criteria
3.12. Competitive landscape, 2018
3.12.1. Company market share analysis
3.12.2. Top players overview
3.12.3. Strategy dashboard
3.13. PESTEL analysis
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