Global Plastic Compounding Market Size & Outlook
Global plastic compounding market, 2019-2030 (US$M)
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Global plastic compounding market highlights
- The global plastic compounding market generated a revenue of USD 67,169.7 million in 2023 and is expected to reach USD 112,080.7 million by 2030.
- The market is expected to grow at a CAGR (2024 - 2030) of 7.6% by 2030.
- In terms of segment, polypropylene (pp) accounted for a revenue of USD 20,147.3 million in 2023.
- Polyethylene Terephthalate (PET) is the most lucrative product segment registering the fastest growth during the forecast period.
- In terms of region, Asia Pacific was the largest revenue generating market in 2023.
- Country-wise, South Africa is expected to register the highest CAGR from 2024 to 2030.
Global data book summary
| 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 |
Other key industry trends
- In terms of revenue, the North America accounted for 18.5% of the global plastic compounding market in 2023.
- By country, the China is projected to lead the global market in terms of revenue in 2030.
- By country, South Africa is the fastest growing regional market and is projected to reach USD 866.8 million by 2030.
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Plastic Compounding Market Scope
Plastic Compounding Market Companies
| Name | Profile | # Employees | HQ | Website |
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Global plastic compounding market outlook
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.
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Target buyers of Global plastic compounding market databook
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Our clientele includes a mix of plastic compounding market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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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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Global plastic compounding market size, by regions, 2019-2030 (US$M)
Top 10 countries: Plastic compounding market size, 2023 (US$M)
Global plastic compounding market share, by product, 2023 & 2030 (%, US$M)
Plastic compounding market: Opportunity assessment by country
Global plastic compounding market, by region, 2023 (US$M)
| Product | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | CAGR |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| North America | 10,538.8 | 10,864.6 | 11,255.7 | 11,773.8 | 12,401.1 | 13,150.4 | 13,999.1 | 14,946.0 | 16,003.7 | 17,186.2 | 18,510.0 | 20,106.7 | 7.2% |
| Europe | 12,828.7 | 13,132.8 | 13,512.0 | 14,038.2 | 14,687.6 | 15,472.7 | 16,364.4 | 17,359.4 | 18,470.0 | 19,710.5 | 21,105.9 | 22,675.5 | 6.4% |
| Asia Pacific | 24,118.7 | 25,244.5 | 26,553.1 | 28,199.6 | 30,155.5 | 32,465.2 | 35,086.9 | 38,030.4 | 41,340.5 | 45,069.0 | 49,276.1 | 53,552.2 | 8.6% |
| Latin America | 4,473.2 | 4,646.9 | 4,850.8 | 5,112.4 | 5,425.0 | 5,795.3 | 6,214.4 | 6,682.8 | 7,207.0 | 7,794.3 | 8,453.3 | 9,167.3 | 7.8% |
| MEA | 3,997.1 | 4,080.4 | 4,182.6 | 4,325.5 | 4,500.5 | 4,710.3 | 4,944.6 | 5,201.1 | 5,481.7 | 5,788.7 | 6,124.6 | 6,579.0 | 5.6% |
| Overall | 55,956.6 | 57,969.1 | 60,354.2 | 63,449.5 | 67,169.7 | 71,593.8 | 76,609.4 | 82,219.7 | 88,502.8 | 95,548.7 | 103,469.9 | 112,080.7 | 7.6% |
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