The global plastic compounding market size is set togain traction from their increasing usage in the automotive and packaging
industry. Besides, construction activities in emerging economies are increasing
at a fast pace. In addition to that, ongoing technological advancements in the
electrical and automotive industries would affect the market positively in the
coming years. The demand for these products is also growing from the food and
beverage industry as they help in reducing quality degradation and contamination.
As per the report, the plastic compounding market size stood atUSD 52.74 billion in 2018. It is set to reach USD 87.11 billion by 2026,
thereby exhibiting a CAGR of 6.5% during the forecast period.
Source:
Automotive & Transportation Segment to Hold the Highest ShareBacked by Extensive Usage of Compounded Plastics
In terms of application, the market is grouped into consumergoods/lifestyle, infrastructure & construction, industrial machinery,
packaging, automotive & transportation, electrical & electronics, and
others. Amongst these, the automotive and transportation segment is set to hold
the largest plastic compounding market share during the forecast period. This
growth is attributable to the increasing usage of compounded plastics in this
industry. They lower the overall weight of the vehicle, which further increases
the life and efficiency of the vehicle components. The infrastructure and
construction segment held 14.6% share in 2018.
This Report Answers the Following Questions:
- What are the plastic compounding market trends?
- How many growth drivers and barriers will the market possess?
- Which organizations are set to remain on top in the market?
- What are the strategies adopted by industry giants to strengthen their position?
- Which segment is set to dominate the market during the forthcoming years?
