Plastic Compounding Market To Reach $112.08 Billion By 2030

Plastic Compounding Market Growth & Trends

The global plastic compounding market size is expected to reach USD 112.08 billion by 2030, according to a report by Grand View Research, Inc. It is expected to expand at a CAGR of 7.4% from 2024 to 2030. The construction and vehicle industries are expected to encourage demand for interiors, exteriors, and under-the-hood components. Plastic compounding is used in automotive under-hood components, building interiors and exteriors in construction and infrastructure, and the electrical and electronics industry, which is anticipated to boost the market growth.

Polyethylene Terephthalate (PET) is a plastic used to make bottle containers for packaged water and fizzy beverages. PET is considered a safe, durable, flexible, non-toxic, lightweight, and 100% recyclable raw material. As a result, it has acquired wide acceptance, which is expected to propel the expansion of the market over the forecast period.

In 2021, Asia Pacific was the top revenue source for the PET compound market. The regional usage of PET compound is expected to be driven by rising demand for beverages, particularly carbonated drinks and nutritional drinks. The expansion in population, changing lifestyles, and the emergence of local beverage makers all contribute to this trend. The presence of a large pool of contract bottlers in the Asia Pacific will also have an impact on the variety of packaging industries.

Plastics have always been used extensively in the construction sector, with products ranging from pipe fittings and insulation to construction materials and equipment. Plastic compounds are adjusted to meet their specific needs. For instance, flame retardant chemicals are added to Polyvinyl Chloride (PVC) components and are an essential part of building materials.

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Plastic Compounding Market Report Highlights

• Fossil-based compounded plastics dominated the source segmentation in 2023 with a market revenue share of above 56.0%.

• Polypropylene (PP) dominated the product segmentation in 2023 with a market revenue share of above 29.0%. Polypropylene can be processed using any of the thermoplastic processing methods including injection molding, extrusion blow molding, and general-purpose extrusion.

• Automotive sub-segment dominated the application segmentation in 2023 with a market revenue share above 25.0%.

• Asia Pacific dominated the market and held a revenue share of over 44.0% in 2023 owing to the favorable conditions in Asia Pacific, such as increasing manufacturing output, booming e-commerce market, and favorable demographics, are promising.

Plastic Compounding Market Segmentation

Grand View Research has segmented the global plastic compounding market report based on source, product, application, and region:

Plastic Compounding Source Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Fossil-based

• Bio-based

• Recycled

Plastic Compounding Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• 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)

• Polyurethane (PU)

• Polymethyl Methacrylate (PMMA)

• Acrylonitrile Butadiene Styrene (ABS)

• Others

Plastic Compounding Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Automotive

• Building & construction

• Electrical & electronics

• Packaging

• Consumer goods

• Industrial machinery

• Medical devices

• Optical media

• Aerospace & defense

• Others

Plastic Compounding Regional Outlook (Volume, Kilotons; Revenue, USD Billion, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

  • Netherlands

• Asia Pacific

  • China

  • India

  • Japan

  • South Korea

  • Singapore

  • Malaysia

  • Indonesia

  • Thailand

  • Vietnam

  • Australia

• Central & South America

  • Brazil

  • Argentina

• Middle East & Africa

  • Saudi Arabia

  • United Arab Emirates (UAE)

  • South Africa

List of Key Players of Plastic Compounding Market

• BASF SE

• SABIC

• Dow, Inc.

• KRATON CORPORATION

• LyondellBasell Industries Holdings B.V.

• DuPont de Nemours, Inc.

• RTP Company

• S&E Specialty Polymers, LLC (Aurora Plastics)

• Asahi Kasei Corporation

• Covestro AG

• Washington Penn

• Eurostar Engineering Plastics

• KURARAY CO., LTD.

• Arkema

• TEIJIN LIMITED

• LANXESS

• Solvay

• SO.F.TER

• Polyvisions, Inc.

• Ravago