Plastic Compounding Market Growing Demand Overview, Driver, Restraints, Opportunities Forecast Report 2026

The Asia-Pacific region garnered more than two-fifths of the total market share in 2018 and is expected to dominate throughout the forecast period.

OREGON, PORTLAND, UNITED STATES, March 16, 2022 /EINPresswire.com/ -- Rise in production of lightweight automobiles and Increase in infrastructure development have propelled the growth of the global plastic compounding market. By end use, the packaging segment held the lion’s share in 2018. Conversely, polyethylene segment, by type would manifest the fastest growth rate by 2026. Moreover, Asia Pacific region dominated the market in 2018, and would continue to dominate throughout the study period.

High prices of plastic compounds and harmful impact of VOCs present in the coating hamper the growth to some extent. Nevertheless, advancement in filter material technology is expected to create multiple opportunities in the market.

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COVID-19 impact analysis:

The outbreak of the COVID-19 pandemic left a significant impact on the global economy. The plastic compounding market report provides a detailed study of the micro- and macro-economic impacts of the pandemic. Moreover, the analysis depicts the direct impact of COVID-19 on the plastic compounding market. It recapitulates the detailed information about the market extent and shares owing to the impact of the outbreak. The report also emphasizes on the supply chain and the sales of the plastic compounding market. Last but not the least; the study also exhibits a phost-COVID-19 scenario, portraying different measures and initiatives taken by the government bodies across the world.

Based on type, the market is segmented into polypropylene, polyethylene, polyvinyl chloride, polystyrene and expanded polystyrene, polyethylene terephthalate, polyurethane, acrylonitrile butadiene styrene, and other polymers. The polypropylene segment held the largest share in 2018, accounting for nearly one-fourth of the total market. On the other hand, the polyethylene segment is expected to grow at the fastest CAGR of 6.8% during the study period.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧: @ https://www.alliedmarketresearch.com/request-for-customization/5288

Based on geography, the Asia-Pacific region garnered more than two-fifths of the total market share in 2018 and is expected to dominate throughout the forecast period. Cheap labor cost, low setup costs associated with manufacturing units, and low cost of plastic compounding raw materials in the region have spurred the growth. Europe, on the other hand, is projected to grow at the fastest CAGR of 6.7% through 2019– 2026.

Major Inclusions-

• Qualitative as well as quantitative assessment of the market on the basis of the detailed categorization involving both the economic and non-economic factors.
• Analysis at country and regional level, which portrays the share of the product or service in different regions.
• Elaborative company profiles section, which provides different pointers such as key executives, business enactment, company overview, product/service portfolio, R&D expenditure, current scenario, and prime strategies of the key market players.
• The forecasted market outlook of the plastic compounding market based on recent developments, which incorporate the analysis of drivers, market trends, and growth opportunities.
• The COVID-19 impact on the plastic compounding market
• Post-sales support and free customization

Key market players analyzed in the report include Celanese Corporation, SABIC, Kingfa Sci. and Tech. Co., Ltd., Solvay SA, DowDuPont Inc., Covestro AG, Asahi Kasei Corporation, PolyOne Corporation, LyondellBasell Industries Holdings B.V, and BASF SE.

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