Market revenue in 2023 | USD 67,169.7 million |
Market revenue in 2030 | USD 112,080.7 million |
Growth rate | 7.6% (CAGR from 2023 to 2030) |
Largest segment | Polypropylene (pp) |
Fastest growing segment | Polyethylene Terephthalate (PET) |
Historical data covered | 2019 - 2022 |
Base year for estimation | 2023 |
Forecast period covered | 2024 - 2030 |
Quantitative units | Revenue in USD million |
Market segmentation | Polyethylene (PE), Polypropylene (PP), Thermoplastic Vulcanizates (TPV), Thermoplastic Polyolefins (TPO), Polyvinyl Chloride (PVC), Polystyrene (PS), Polyethylene Terephthalate (PET), Polybutylene Terephthalate (PBT), Polyamide (PA), Polycarbonate (PC), Acrylonitrile Butadiene Systems (ABS), Other Product |
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The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to plastic compounding market will help companies and investors design strategic landscapes.
polypropylene (pp) was the largest segment with a revenue share of 29.99% in 2023. Horizon Databook has segmented the Global plastic compounding market based on polyethylene (pe), polypropylene (pp), thermoplastic vulcanizates (tpv), thermoplastic polyolefins (tpo), polyvinyl chloride (pvc), polystyrene (ps), polyethylene terephthalate (pet), polybutylene terephthalate (pbt), polyamide (pa), polycarbonate (pc), acrylonitrile butadiene systems (abs), other product covering the revenue growth of each sub-segment from 2019 to 2030.
The use of plastic compounded products in automotive applications helps reduce fuel consumption on account of their ability to reduce the density and weight of cars as compared to conventional materials such as rubber or metals.
Increasing awareness regarding consumer safety and health hazards in various industries, such as electronics, healthcare, wire & cable, construction, and automotive, is expected to drive the global demand for plastics over the forecast period. In the automotive industry compounded plastics find application in under hood components and exteriors & interiors of automobiles.
The increasing application of plastic compounds in the automotive industry is spurred by the demand for safe, lightweight, and inexpensive multi-utility vehicle (MUV)/sport utility vehicle (SUV) models with high fuel efficiency and an emphasis on comfort & aesthetics. The soft touch and odor-free nature of plastics allow better steering wheels, handles, and interiors in automobiles.
Horizon Databook provides a detailed overview of global-level data and insights on the Global plastic compounding market , including forecasts for subscribers. This global databook contains high-level insights into Global plastic compounding market from 2019 to 2030, including revenue numbers, major trends, and company profiles.
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