Purging Compound Market Size To Reach $1.08 Billion By 2030

Purging Compound Market Growth & Trends

The global purging compound market size is expected to reach USD 1.08 billion by 2030, registering a CAGR of 5.4% from 2024 to 2030, according to a new report by Grand View Research, Inc. The growing plastic processing machinery industry in Asia Pacific is anticipated to be a major driving force triggering the market growth.

Injection molding segment has been observing noteworthy growth in the purging compound industry. The growing demand for the mass production of various injection molded parts from end-use industries such as automotive is likely to have a positive impact on the demand for purging products in the industry.

Fluctuating raw material prices are predicted to be the major restraints during the forecast period due to volatility associated with the world oil price and production. In addition, the high prices of purging compounds are expected to restrain the market growth.

Companies have been adopting various strategies including expansions, acquisitions, mergers, agreements, and joint ventures. For instance, in September 2017, Dow Chemical and DuPont merged to form Dow DuPont in order to enhance their product offerings and solutions.

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Purging Compound Market Report Highlights

• The injection molding segment is expected to grow at the fastest CAGR over the forecast years. Injection molding is the most common processing method for plastic parts on account of a faster rate of production and its ability to produce plastic components with multiple colors.

• The extrusion segment dominated the market and accounted for the largest revenue share in 2023. The process of extrusion is utilized for manufacturing various items such as films, profiles, pipes, and sheets.

• The mechanical purging segment dominated the market and accounted for the largest revenue share of 46.3% in 2023 owing to the efficiency of these compounds in eliminating impurities and leftover materials from processing equipment.

• The Asia Pacific purging compound market dominated the global market with a share of 36.1% in 2023 due to the emergence of major plastic manufacturing sectors in countries such as India, China, and Japan.

• The North America purging compound market held a market share of 26.4% in 2023. The increasing need for plastic processing equipment to manufacture different components is expected to increase the demand for purging compounds in the region.

• Competitors have been implementing various approaches to strengthen their position in the market. Expansions and acquisitions are the key strategies adopted by market players over the past years. For instance, Formosa Plastics Corporation constructed a new polypropylene manufacturing line in the U.S. to increase its production capacity.

Purging Compound Market Segmentation

Grand View Research has segmented the global purging compound market on the basis of on type, process, and region:

Purging Compound Type Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Mechanical purging

• Chemical purging

• Liquid purging

Purging Compound Process Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Extrusion

• Injection molding

• Blow molding

Purging Compound Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • The Netherlands

• Asia Pacific

  • China

  • India

  • Japan

  • South Korea

  • Thailand

  • Australia

• Latin America

  • Brazil

  • Argentina

• Middle East and Africa (MEA)

  • South Africa

  • Saudi Arabia

  • UAE

List of Key Players in the Purging Compound Market 

• Calsak Corporation

• Plastic Solutions, Inc.

• Neutrex, Inc.

• Perfect Colourants & Plastics Pvt. Ltd.

• Asahi Kasei Corporation

•  Chem?Trend L.P.

• 3M

• Clariant 

• Kuraray Co., Ltd.

• Daicel Corporation