Plastic Compounds Market

Plastic Compounds Market worth $97.3 billion by 2029

The report "Plastic Compounds Market by Product (PVC, PP, PE, PS, PA, PC, PET, PU, ABS), Source, End-use Industry (Automotive, Packaging, Electrical & Electronics, Building & Construction, Consumer Goods, Medical), and Region - Global Forecast to 2029", size is projected to grow from USD 70.8 billion in 2024 to USD 97.3 billion by 2029, registering a CAGR of 6.6% during the forecast period. The growth of the plastic compounds market is fueled by several key factors. The packaging and building, & construction industries are seeing increasing demand for plastic compounds for various applications. There is a growing demand for environmentally friendly and sustainable materials from consumers and businesses. Recyclable plastic compounds are being sought as alternatives to conventional plastic compounds.

Browse 259 market data Tables and 54 Figures spread through 265 Pages and in-depth TOC on "Plastic Compounds Market by Product (PVC, PP, PE, PS, PA, PC, PET, PU, ABS), Source, End-use Industry (Automotive, Packaging, Electrical & Electronics, Building & Construction, Consumer Goods, Medical), and Region - Global Forecast to 2029"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/plastic-compounds-market-43634375.html

Polyamide (PA), by type, is expected to be the fastest growing segment during the forecast period.

Polyamides, commonly known as nylons, are recognized as high-performance plastics due to their exceptional temperature and electrical resistances, making them suited for use in industries like automotive, transportation, consumer goods, textiles, and electrical & electronics. The key attributes driving polyamide usage include toughness, durability, thermal and chemical resistance, flexibility, abrasion and corrosion resistance, thermal insulation, and adhesion properties.

Bio-based is anticipated to be the fastest growing segment, by source, during the forecast period.

Bio-based plastic compounds are derived from renewable biomass sources, offering a sustainable alternative to traditional fossil-based plastics. These bioplastics are produced from various natural sources such as vegetable fats and oils, corn starch, straw, woodchips, sawdust, and recycled food waste. Bio-based plastics have limited dependence on finite and unevenly distributed fossil fuel resources, which are linked to environmental impacts and geopolitical issues. Life cycle analyses have shown that certain bioplastics can have a lower carbon footprint than fossil-based plastics, especially when biomass is used as both the raw material and for energy production.

Automotive is anticipated to be the third largest segment, by end-use industry, during the forecast period.

Most of the interior, as well as the exterior parts of a modern vehicle, are made with plastic compounds such as PS, PP, PE, and PET. These plastic compounds are used in dashboards, steering wheels, loudspeaker grills, carpets, and door linings, as well as seats, seat belts, and airbags. The use of plastic compounds in various automotive applications helps reduce vehicle weight and fuel consumption. The increasing replacement of conventional materials such as metals and glass by plastic compounds is driving the market for plastic compounds in this segment.

Middle East & Africa is expected to be the third fastest-growing region in the global plastic compounds market, by region, during the forecast period.

The Middle East & Africa is one of the emerging markets globally and provides significant opportunities for plastic compounds manufacturers. This region includes the GCC Countries (Saudi Arabia, the UAE, and Rest of GCC), South Africa, and the Rest of Middle East & Africa. Several factors, including rising disposable income, increasing industrialization, and the growing population, are expected to drive the plastic compounds market in the region.

The region witnesses unstable industrial development owing to geopolitical factors and fluctuating crude oil prices. However, positive growth is expected in emerging GCC economies and the Middle East and North Africa (MENA), which are investing heavily in industrial and infrastructural developments.

Key Players

To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the plastic compounds market. These are BASF SE (Germany), The Dow Chemical Company (US), LyondellBasell Industries Holdings B.V. (Netherlands), SABIC (Saudi Arabia), Asahi Kasei Corporation (Japan), Covestro AG (Germany), Arkema (France), RTP Company (US), and Westlake Corporation (US).

Don’t miss out on business opportunities in Plastic Compounds Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]

Plastic Compounds Market Size,  Share & Growth Report
Report Code
CH 9044
PR Published ON
6/17/2024
Choose License Type
BUY NOW
ADJACENT MARKETS
REQUEST BUNDLE REPORTS
  • SHARE
X
Request Customization
Speak to Analyst
Speak to Analyst
OR FACE-TO-FACE MEETING
PERSONALIZE THIS RESEARCH
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
REQUEST A FREE CUSTOMIZATION
LET US HELP YOU!
  • What are the Known and Unknown Adjacencies Impacting the Plastic Compounds Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
CUSTOMIZED WORKSHOP REQUEST
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
CONNECT WITH US
ABOUT TRUST ONLINE
©2024 MarketsandMarkets Research Private Ltd. All rights reserved
DMCA.com Protection Status
...

Digital Virtual Assistant - MarketsandMarkets

Home