China Plastic Compounding Market Size & Outlook, 2023-2030
China plastic compounding market, 2019-2030 (US$M)
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China plastic compounding market highlights
- The China plastic compounding market generated a revenue of USD 17,132.1 million in 2023 and is expected to reach USD 30,531.4 million by 2030.
- The China market is expected to grow at a CAGR of 8.6% from 2024 to 2030.
- In terms of segment, polypropylene (pp) was the largest revenue generating product in 2023.
- Thermoplastic Vulcanizates (TPV) is the most lucrative product segment registering the fastest growth during the forecast period.
Plastic compounding market data book summary
| Market revenue in 2023 | USD 17,132.1 million |
| Market revenue in 2030 | USD 30,531.4 million |
| Growth rate | 8.6% (CAGR from 2023 to 2030) |
| Largest segment | Polypropylene (pp) |
| Fastest growing segment | Thermoplastic Vulcanizates (TPV) |
| Historical data | 2019 - 2022 |
| Base year | 2023 |
| Forecast period | 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 |
| Key market players worldwide | Basf SE, SABIC, Dow Inc, DL Holdings Group Ltd, LyondellBasell Industries NV Class A, DuPont de Nemours Inc, Asahi Kasei Corp, Covestro AG, Washington Penn, Ascend Performance Materials, Kuraray Co Ltd, Arkema SA, Teijin Ltd, Lanxess AG, Solvay SA, Ravago |
Other key industry trends
- In terms of revenue, China accounted for 25.5% of the global plastic compounding market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China plastic compounding market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 7,797.5 million by 2030.
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Plastic Compounding Market Scope
Plastic Compounding Market Companies
| Name | Profile | # Employees | HQ | Website |
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China 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 28.61% in 2023. Horizon Databook has segmented the China 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.
China's plastic compounding market is anticipated to witness promising growth over the forecast period. Healthy growth among the key manufacturing industries including automotive and electrical & electronics is likely to contribute substantially toward the ascending demand for plastics in China.
The automotive industry in the country is expanding on account of a strong demand for cars as well as various other vehicle types including medium & heavy trucks and buses.
Electric cars remain a promising category as the government is providing substantial subsidies to manufacturers and favorable discounts and incentives for customers who are buying these cars.
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Horizon Databook provides a detailed overview of country-level data and insights on the China plastic compounding market , including forecasts for subscribers. This country databook contains high-level insights into China plastic compounding market from 2019 to 2030, including revenue numbers, major trends, and company profiles.
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China plastic compounding market size, by product, 2019-2030 (US$M)
China Plastic Compounding Market Outlook Share, 2023 & 2030 (US$M)
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