Global Plastic Compounding Market Size To Exceed USD 156.05 Billion By 2035 | CAGR of 7.27%
Category: Chemicals & MaterialsGlobal Plastic Compounding Market Size To Exceed USD 156.05 Billion By 2035
According to a research report published by Spherical Insights & Consulting, the Global Plastic Compounding Market Size is expected to grow from USD 72.14 Billion in 2024 to USD 156.05 Billion by 2035, at a CAGR of 7.27% during the forecast period 2025-2035.
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Browse key industry insights spread across 270 pages with 130 Market data tables and figures & charts from the report on the "Global Plastic Compounding Market Size, Share, and COVID-19 Impact Analysis, By Source (Fossil-based, Bio-based, and Recycled), By Product (Polyethylene, Polypropylene, Thermoplastic Vulcanizates, thermoplastic Polyolefins, Polyvinyl Chloride, and Others), By Application (Automotive, Building & construction, Electrical & electronics, Aerospace & defense, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2025 – 2035." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/plastic-compounding-market
The plastic compounding market is the market focusing on blending different types of plastics and additives for creating custom plastic compounds. Plastic compounding involves the preparation of plastic formulations by mixing and/or blending polymers and additives in a molten state to achieve the desired characteristics. There is increased preference for plastic compounding due to the stringent regulations on plastic usage. Plastic compounding is used for the manufacturing of plastic compounded resins across various industries, including electronics, healthcare, wire & cable, construction, and automotive, owing to the concerns regarding consumer safety and health. An increasing demand for plastic-compounded resins over traditional plastic resins for diverse industrial applications is creating market opportunity. The rising need for lightweight materials with improved durability and customized compounds for specific applications is responsible for driving the market demand. However, the volatility in raw material prices that affect product manufacturing, and regulatory complexities due to environmental concerns, are challenging the market.
The fossil-based segment dominated the market with the largest revenue share in 2024 and is projected to grow at a substantial CAGR during the forecast period.
Based on the source, the plastic compounding market is divided into fossil-based, bio-based, and recycled. Among these, the fossil-based segment dominated the market with the largest revenue share in 2024 and is projected to grow at a substantial CAGR during the forecast period. The use of a combination of petroleum-derived polymers, including PE, PP, and PVC, with other additives and fillers for various applications is driving the market in the fossil-based segment.
The polypropylene segment accounted for the largest revenue share in 2024 and is anticipated to grow at a remarkable CAGR during the forecast period.
Based on the product, the plastic compounding market is divided into polyethylene, polypropylene, thermoplastic vulcanizates, thermoplastic polyolefins, polyvinyl chloride, and others. Among these, the polypropylene segment accounted for the largest revenue share in 2024 and is anticipated to grow at a remarkable CAGR during the forecast period. A mixture of polypropylene and other materials for creating customized materials with specific properties is propelling the market in the polypropylene segment.
The automotive segment dominated the plastic compounding in 2024 and is anticipated to grow at a significant CAGR during the forecast period.
Based on the application, the plastic compounding market is divided into automotive, building & construction, electrical & electronics, aerospace & defense, and others. Among these, the automotive segment dominated the plastic compounding in 2024 and is anticipated to grow at a significant CAGR during the forecast period. The use of plastic compounds like PE and PET for automobile applications, along with the emphasis on lightweight in the automotive industry, is driving the market demand.
Asia Pacific is expected to hold the majority share of the global plastic compounding market during the forecast period.
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North America is expected to hold the majority share of the global plastic compounding market during the forecast period. The growing demand for biodegradable polymers and regulatory restrictions on single-use plastic packaging are promoting the plastic compounding market. Improved R&D activities in the electronic and electrical sector are significantly contributing to propel the market growth.
North America is anticipated to grow at the fastest pace in the global plastic compounding market during the forecast period. The use of PVC, PET, and other plastic raw material in place of glass and metal for diverse industries is propelling the plastic compounding market. Further, expanding automotive industry, and an increase in the number of construction activities are propelling market for plastic compounding.
Europe is anticipated to hold a substantial share of the plastic compounding market during the projected timeframe. The increasing use of plastic compounding in the automotive sector and consumer appliance manufacturing is driving the market growth. The presence of well-developed infrastructure and renowned automakers like Fiat, BMW, and Volkswagen in the region contributing to drive the regional market.
Major vendors in the global plastic compounding market are 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, and Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Key Market Development
- In December 2023, Italian compounder Sirmax, known for its expertise in polypropylene compounds, engineering plastics, thermoplastic elastomers, recycled polymers, and more recently biocompounds, is building a new compounding factory in India, expanding existing capacity.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the plastic compounding market based on the below-mentioned segments:
Global Plastic Compounding Market, By Source
- Fossil-based
- Bio-based
- Recycled
Global Plastic Compounding Market, By Product
- Polyethylene
- Polypropylene
- Thermoplastic Vulcanizates
- Thermoplastic Polyolefins
- Polyvinyl Chloride
- Others
Global Plastic Compounding Market, By Application
- Automotive
- Building & construction
- Electrical & electronics
- Aerospace & defense
- Others
Global Plastic Compounding Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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