Plastic Compounding Market

1. Plastic Compounding Market 2022 Growth Factors, Technological Innovation and Emerging Trends 2028

2. Global Market Scenario of Plastic Compounding Industry Plastic Compounding Market is projected to cross USD 63.2 billion by 2028. The robust demand for building renovation & automotive applications around the globe is anticipated to drive the overall plastic compounding market revenue during the assessment period. Some of the major findings of the plastic compounding market report include: The market growth can be attributed to the increasing adoption of thermoplastic polymer compounding in automotive applications. Technological innovations coupled with the growing Asia Pacific consumer goods sector will enhance market growth. The COVID-19 crisis impacted the construction, automotive, electronics, and consumer goods industries around the globe and disrupted the normal functioning of the global plastic compounding market.

3. Continue:- Based on types of thermoplastic polymers, polyethylene (PE) dominated the plastic compounding market in 2021 and is projected to generate huge revenue gains during the forecast period. Based on the end-use industry, the automotive segment held a major market share in 2021. Plastic compounding is commonly used in residential and commercial building construction & automotive applications. Increasing consumer spending in automotive, medical, and construction industries along with regulatory compliances for sustainable products will drive the plastic compounding market growth in thermoplastic elastomers. The thermoplastic elastomers market has witnessed significant gains over the recent years as they evolved as an alternative to natural or synthetic rubber, metal, wood, and glass. The COVID-19 pandemic impacted various industries around the globe. During the initial spread of the contagious COVID-19 virus, global manufacturing stood standstill owing to the initial cases being discovered in China, which is a major exporter of large number of plastic compounding products and their raw materials; this led to a disruption in production of plastic products on account of the stringent imposition and lockdowns. Changing consumer priorities for the need of essential products only also negatively impacted the plastic compounding demand.

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5. 360° Industry Analysis Request for customization:https://www.gminsights.com/roc/1533 Major end-use sectors, such as electronics, consumer goods, automotive, and aerospace experienced substantial decrease in demand. Over the long term, initial recoveries in China led to short-term surges in production output, primarily owing to back-log orders of foreign companies. The European manufacturing sector is also set to rebound over a longer stretch of time as governments are introducing multiple support & stimulation packages to boost consumer confidence. The thermoplastic elastomer segment is expected to witness a growth of over 5.7% over the forecast period. The polyamides sub-segment will involve Polyether Block Amide Elastomers (PEBA) for plastic compounding. Polyamide is a strong, flexible, and durable plastic material that is reliable in 3D printing. Polyamides are majorly used in automotive interiors, textiles, sportswear, and carpets due to their high strength and durability. This will lead to significant demand as a coating material in printed circuit boards, body parts of modern aircraft, aerospace composite structures, and in glass reinforced pipes.

6. Competitive Analysis: Plastic compounding for SBC mainly involves Styrene-Butadiene-Styrene (SBS), Styrene Ethylene Butylene Styrene (SEBS), and Styrene-Isoprene-Styrene (SIS) block copolymers. It will lead to a substantial demand for plastic compounding processes by 2026. The key application areas include industries such as automobile parts, medical devices, electric devices, adhesives, waterproofing materials, office automation, liquid sealing, roofing, and polymer alteration. The construction industry expansion owing to rapid industrialization will boost the plastic compounding market growth by 2028 and will account for USD 9,029 million. The use of plastics in construction activities provides durability and cost-effectiveness. Flooring, insulations, roofing, walls, doors, and windows are the key plastic application areas in the construction industry. The components used in the industry include plastic screws, hinges, and bigger plastic parts that are used in decorations, floorings, wall coverings, and water proofing. Increasing requirements for flame retardancy, heat resistance, and improved serviceability in manufacturing materials present a bright scope for the plastic compounding market growth by 2028 in electricals & electronics. Plastics are used in a wide array of electrical applications such as semiconductors, housings, sockets, enclosures & switches, and wire & cables. PE and Polyvinyl Chloride (PVC) comprise the leading polymers for use in the sector during the forecast period.

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