Global Plastic Compounding Market 2019-2023 | Growing Demand for Lightweight Vehicles to Boost Growth | Technavio

Technavio has announced its latest market research report titled global plastic compounding market 2019-2023. (Graphic: Business Wire)

LONDON--()--The global plastic compounding market size is poised to reach USD 20.65 billion by 2023, according to a new report by Technavio, progressing at a CAGR of over 6% during the forecast period.

Read the 156-page research report with TOC on "Plastic Compounding Market Analysis Report by applications (packaging, construction, automotive, electrical and electronics, and others) and geographical regions (North America, Europe, APAC, South America, and MEA) 2019 - 2023" at:

The market is driven by the growing demand for lightweight vehicles. In addition, increase in the adoption of plastic packaging is anticipated to further boost the plastic compounding market during the forecast period.

Currently, plastic compounding products are finding large-scale applications in various car parts. The automotive sector is focusing on reducing the weight of vehicles because of the increased demand for more fuel-efficient cars. To reduce the overall weight of vehicles, car manufacturers are now replacing metal components with plastic parts. Also, along with providing enhanced fuel efficiency, these plastic compounds provide better safety and thermal resistance compared to metal parts because of their improved strength and better non-malleable and ductile nature. Thus, the growth rate of plastic compounds in the automotive sector is expected to increase with the introduction of more efficient electric vehicles, where there is an increased need for electricity and heat resistance.

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Furthermore, the demand for plastic packaging is increasing across the globe. The healthcare sector is witnessing high demand for plastic packaging. Proper packaging is required in the healthcare industry to keep the drugs hygienic and retain the medical properties of drugs. Plastic packaging also finds high demand in the food and beverage industry. The retail industry is also witnessing high demand for plastic packaging. Thus, all these factors are expected to increase the adoption of plastic packaging during the forecast period.

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The report includes detailed profiles of the leading companies & prominent vendors of the market:

  • Asahi Kasei Corp.
  • Celanese Corp.
  • Covestro AG
  • Dow Inc.
  • DuPont de Nemours Inc.
  • Hillenbrand Inc.
  • LyondellBasell Industries Holdings BV
  • Mexichem SAB de CV
  • Mitsui Chemicals Inc.
  • Sojitz Corp.

Market Segmentation by Category and Product Types:

The Plastic Compounding Market can be broadly categorized into the following applications:

  • Packaging
  • Construction
  • Automotive
  • Electrical and electronics
  • Others

Key Regions for the Plastic Compounding Market:

Featuring a breakdown of region wise market shares until 2019.

  • North America
  • Europe
  • APAC
  • South America
  • MEA

Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

Related Reports on Materials Market are:

Expanded Polystyrene Market – Global Expanded Polystyrene Market by application (electronic appliances, food and beverages, healthcare, and other applications) and geography (APAC, Europe, MEA, North America, and South America).

Electronic Adhesives Market – Global Electronic Adhesives Market by material (silicone adhesives, polyurethane adhesives, acrylic adhesives, epoxy adhesives, and others), product (electrically conductive adhesives, thermally conductive adhesives, UV curing adhesives, and others), application (surface mounting, conformal coatings, wire tacking, and potting and encapsulation), and geography (APAC, Europe, MEA, North America, and South America).

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With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200

Release Summary

The global plastic compounding market size is poised to reach USD 20.65 billion by 2023, according to a new report by Technavio.


Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200