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Global Plastic Compounding Market Size, Share, Trends, Growth: By Product Type: Polyethylene (PE), Polypropylene (PP), Thermoplastic Vulcanizates (TPV), Thermoplastic Polyolefins (TPO), Poly Vinyl Chloride (PVC), Polystyrene (PS), Others; By Application; Regional Analysis; Market Dynamics; Competitive Landscape; 2024-2032
Global Plastic Compounding Market Outlook
The global plastic compounding market size attained a value of approximately USD 63.4 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 7.10%, reaching a value of around USD 95.15 billion by 2032.
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Increasing applications of plastic compounding in the building and construction sector is contributing to the growth of the plastic compounding market. Rapid urban development activities, rising standards of living, and globalisation are some of the crucial market trends, escalating the incorporation of plastic compounding across construction projects. Meanwhile, plastics compounding is also gaining traction in the healthcare sector for manufacturing medical devices. The increasing healthcare expenditure across emerging economies and growing sophistication of medical equipment are expanding the opportunities for the market for plastic compounding. The flexibility and strength of plastic compounding is expected to heighten its incorporation in advanced MedTech devices further.
Global Plastic Compounding Market Share by Region
The Asia Pacific plastic compounding market is expected to hold a significant share of the global market for plastic compounding. This is on account of the emergence of plastic manufacturers like BASF SE, and SABIC, among others, coupled with the economic environment of the region. The surging manufacturing industry is also likely to drive the demand for industrial machinery, automotive, packaging, construction, and electrical and electronics sectors across the region.
Meanwhile, the Europe plastic compounding market is anticipated to witness steady growth in the global market for plastic compounding. As a significant consumer and producer of automobiles, consumer goods, and packaging materials, the region is expected to witness robust market growth of plastic compounding.
Market Segmentation
Plastic compounding is the procedure of taking basic, raw plastic materials and customising it with different additives to achieve desired colour, property, and performance requirements. Lab formulation and physical processes achieve this by combining the necessary additives and colours to the plastic resin.
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By product type, the market is divided into:
- Polyethylene (PE)
- Polypropylene (PP)
- Thermoplastic Vulcanizates (TPV)
- Thermoplastic Polyolefins (TPO)
- Poly Vinyl Chloride (PVC)
- Polystyrene (PS)
- Polyethylene Terephthalate (PET)
- Polybutylene Terephthalate (PBT)
- Polyamide
- Polycarbonate
- Acrylonitrile Butadiene Styrene (ABS)
- Others
Based on application, the market is categorised into:
- Automotive
- Building and Construction
- Electrical and Electronics
- Packaging
- Consumer Goods
- Industrial Machinery
- Medical Devices
- Optical Media
- Others
The EMR report looks into the regional markets of plastic compounding like Latin America, North America, Europe, the Asia Pacific, and the Middle East and Africa.
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Rapid Expansion of Automotive Applications to Invigorate the Growth of the Plastic Compounding Market
On the basis of application, the automotive segment is expected to drive the market growth for plastic compounding during the forecast period. Surging integration of plastics in automotive components as opposed to alloys and metals, has increased the demand for plastic compounding from the automotive segment.
China, India, and Brazil are the major production hubs for automobiles and are also fast-growing economies that are further expected to gain momentum and drive growth for plastic compounding. Meanwhile, the growing demand for plastic compounding in infrastructure development among various constructional activities is likely to boost the market for plastic compounding further.
Key Players in the Global Market for Plastic Compounding
The report presents a detailed analysis of the following key players in the global plastic compounding market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- BASF SE
- Arkema Group
- AKRO-PLASTIC GmbH
- DuPont
- LyondellBasell Industries Holdings B.V.
- Aurora Plastics LLC
- SABIC
- Solvay SA
- Evonik Industries AG
- Kuraray Co., Ltd.
- LANXESS AG
- Covestro AG
- The Dow Chemical Company
- Celanese Corporation
- Avient Corporation
- Washington Penn
- Teijin Limited
- EuroPlas( European Plastics Joint Stock Company)
- Others
The comprehensive report looks into the macro and micro aspects of the market. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Product Type |
|
| Breakup by Application |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Region
7 Opportunities and Challenges in the Market
8 Global Plastic Compounding Market Analysis
8.1 Key Industry Highlights
8.2 Global Plastic Compounding Historical Market (2018-2023)
8.3 Global Plastic Compounding Market Forecast (2024-2032)
8.4 Global Plastic Compounding Market by Product Type
8.4.1 Polyethylene (PE)
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Polypropylene (PP)
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Thermoplastic Vulcanizates (TPV)
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Thermoplastic Polyolefins (TPO)
8.4.4.1 Historical Trend (2018-2023)
8.4.4.2 Forecast Trend (2024-2032)
8.4.5 Poly Vinyl Chloride (PVC)
8.4.5.1 Historical Trend (2018-2023)
8.4.5.2 Forecast Trend (2024-2032)
8.4.6 Polystyrene (PS)
8.4.6.1 Historical Trend (2018-2023)
8.4.6.2 Forecast Trend (2024-2032)
8.4.7 Polyethylene Terephthalate (PET)
8.4.7.1 Historical Trend (2018-2023)
8.4.7.2 Forecast Trend (2024-2032)
8.4.8 Polybutylene Terephthalate (PBT)
8.4.8.1 Historical Trend (2018-2023)
8.4.8.2 Forecast Trend (2024-2032)
8.4.9 Polyamide
8.4.9.1 Historical Trend (2018-2023)
8.4.9.2 Forecast Trend (2024-2032)
8.4.10 Polycarbonate
8.4.10.1 Historical Trend (2018-2023)
8.4.10.2 Forecast Trend (2024-2032)
8.4.11 Acrylonitrile Butadiene Styrene (ABS)
8.4.11.1 Historical Trend (2018-2023)
8.4.11.2 Forecast Trend (2024-2032)
8.4.12 Others
8.5 Global Plastic Compounding Market by Application
8.5.1 Automotive
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Building and Construction
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Electrical and Electronics
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Packaging
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.5 Consumer Goods
8.5.5.1 Historical Trend (2018-2023)
8.5.5.2 Forecast Trend (2024-2032)
8.5.6 Industrial Machinery
8.5.6.1 Historical Trend (2018-2023)
8.5.6.2 Forecast Trend (2024-2032)
8.5.7 Medical Devices
8.5.7.1 Historical Trend (2018-2023)
8.5.7.2 Forecast Trend (2024-2032)
8.5.8 Optical Media
8.5.8.1 Historical Trend (2018-2023)
8.5.8.2 Forecast Trend (2024-2032)
8.5.9 Others
8.6 Global Plastic Compounding Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Europe
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Latin America
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Middle East and Africa
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
9 North America Plastic Compounding Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Plastic Compounding Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Plastic Compounding Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
15.2 Japan
15.2.1 Historical Trend (2018-2023)
15.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Plastic Compounding Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Plastic Compounding Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 BASF SE
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Arkema Group
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 AKRO-PLASTIC GmbH
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 DuPont
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 LyondellBasell Industries Holdings B.V.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Aurora Plastics LLC
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 SABIC
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Solvay SA
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Evonik Industries AG
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Kuraray Co., Ltd.
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 LANXESS AG
15.2.11.1 Company Overview
15.2.11.2 Product Portfolio
15.2.11.3 Demographic Reach and Achievements
15.2.11.4 Certifications
15.2.12 Covestro AG
15.2.12.1 Company Overview
15.2.12.2 Product Portfolio
15.2.12.3 Demographic Reach and Achievements
15.2.12.4 Certifications
15.2.13 The Dow Chemical Company
15.2.13.1 Company Overview
15.2.13.2 Product Portfolio
15.2.13.3 Demographic Reach and Achievements
15.2.13.4 Certifications
15.2.14 Celanese Corporation
15.2.14.1 Company Overview
15.2.14.2 Product Portfolio
15.2.14.3 Demographic Reach and Achievements
15.2.14.4 Certifications
15.2.15 Avient Corporation
15.2.15.1 Company Overview
15.2.15.2 Product Portfolio
15.2.15.3 Demographic Reach and Achievements
15.2.15.4 Certifications
15.2.16 Washington Penn
15.2.16.1 Company Overview
15.2.16.2 Product Portfolio
15.2.16.3 Demographic Reach and Achievements
15.2.16.4 Certifications
15.2.17 Teijin Limited
15.2.17.1 Company Overview
15.2.17.2 Product Portfolio
15.2.17.3 Demographic Reach and Achievements
15.2.17.4 Certifications
15.2.18 EuroPlas( European Plastics Joint Stock Company)
15.2.18.1 Company Overview
15.2.18.2 Product Portfolio
15.2.18.3 Demographic Reach and Achievements
15.2.18.4 Certifications
15.2.19 Others
16 Key Trends and Developments in the Market
Additional Customisations Available:
1 Manufacturing Process
1.1 Overview
1.2 Detailed Process Flow
1.3 Operation Involved
2 Project Requirement and Cost Analysis
2.1 Land, Location and Site Development
2.2 Construction
2.3 Plant Machinery
2.4 Cost of Raw Material
2.5 Packaging
2.6 Transportation
2.7 Utilities
2.8 Manpower
2.9 Other Capital Investment
List of Key Figures and Tables
1. Global Plastic Compounding Market: Key Industry Highlights, 2018 and 2032
2. Global Plastic Compounding Historical Market: Breakup by Product Type (USD Million), 2018-2023
3. Global Plastic Compounding Market Forecast: Breakup by Product Type (USD Million), 2024-2032
4. Global Plastic Compounding Historical Market: Breakup by Application (USD Million), 2018-2023
5. Global Plastic Compounding Market Forecast: Breakup by Application (USD Million), 2024-2032
6. Global Plastic Compounding Historical Market: Breakup by Region (USD Million), 2018-2023
7. Global Plastic Compounding Market Forecast: Breakup by Region (USD Million), 2024-2032
8. North America Plastic Compounding Historical Market: Breakup by Country (USD Million), 2018-2023
9. North America Plastic Compounding Market Forecast: Breakup by Country (USD Million), 2024-2032
10. Europe Plastic Compounding Historical Market: Breakup by Country (USD Million), 2018-2023
11. Europe Plastic Compounding Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Asia Pacific Plastic Compounding Historical Market: Breakup by Country (USD Million), 2018-2023
13. Asia Pacific Plastic Compounding Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Latin America Plastic Compounding Historical Market: Breakup by Country (USD Million), 2018-2023
15. Latin America Plastic Compounding Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Middle East and Africa Plastic Compounding Historical Market: Breakup by Country (USD Million), 2018-2023
17. Middle East and Africa Plastic Compounding Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Global Plastic Compounding Market Structure.
Key Questions Answered in the Report
In 2023, the global market attained a value of approximately USD 63.4 billion.
The market is assessed to grow at a CAGR of 7.10% between 2024 and 2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032, reaching a value of around USD 95.15 billion by 2032.
The major market drivers include the thriving automotive industry, increasing demand for specialised plastics, and rising substitution of materials such as natural rubber, wood, metals, glass, and concrete with plastic.
The key plastic compounding market trends include the surging usage of plastic in use in various industrial applications and the high demand for PET in the packaging industry.
The major regions in the market are Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa.
The various product types of plastic compounding in the market include polyethylene (PE), polypropylene (PP), thermoplastic vulcanizates (TPV), thermoplastic polyolefins (TPO), poly vinyl chloride (PVC), polystyrene (PS), polyethylene terephthalate (PET), polybutylene terephthalate (PBT), polyamide, polycarbonate, and acrylonitrile butadiene styrene (ABS), among others.
The different applications of plastic compounding in the market include automotive, building and construction, electrical and electronics, packaging, consumer goods, industrial machinery, medical devices, and optical media, among others.
The major players in the market are BASF SE, Arkema Group, AKRO-PLASTIC GmbH, DuPont, LyondellBasell Industries Holdings B.V., Aurora Plastics LLC, SABIC, Solvay SA, Evonik Industries AG, Kuraray Co., Ltd., LANXESS AG, Covestro AG, The Dow Chemical Company, Celanese Corporation, Avient Corporation, Washington Penn, Teijin Limited, and EuroPlas( European Plastics Joint Stock Company), among others.
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