(EMAILWIRE.COM, October 25, 2024 ) 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 ” The global Plastic Compounds Market 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%.
Browse in-depth TOC on “Plastic Compounds Market
259 – Market Data Tables
54 – Figures
256 – Pages
Download PDF brochure of the Report @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=43634375
The plastic compounds market, by product, is segmented into PVC, PE, PP, PS, PA, PC, PET, PU, ABS, and others. Globally, PP” commands the largest market share in the plastic compounds market due to several factors. PP is highly versatile and can be modified in numerous ways to suit various applications and adapted to meet specific technical requirements. It is highly resistant to acids and corrosion, making it an ideal material for containers holding acidic liquids like cleaning agents. PP can be melted and molded into any desired shape multiple times without significant degradation. It can last for decades without degrading, making it suitable for applications requiring long-term stability. All these factors contribute to the long-term growth of the market.
Plastic compounds market, by source is segmented into fossil-based, bio-based, and recycled. Fossil-based plastic compounds, derived from petroleum, natural gas, and coal, include materials such as polyethylene, polypropylene, and polyvinyl chloride. These plastics are produced through a multi-step process: extraction of raw fossil fuels, refinement into petrochemical feedstocks like ethylene and propylene, and polymerization into various plastic resins. Widely used in packaging, household items, and industrial applications, these materials are valued for their durability and versatility..
Get Sample Pages of This Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=43634375
North America is the second largest market. The economy in this region has witnessed a mixed impact of the global recession and some local disturbances, which affected the demand for plastic compounds. The plastic compounds market in the region is diversified and strongly focused on the development of new products and advanced technology to cater to the needs of end users. The demand for plastic compounds is primarily driven by the presence of global manufacturers in the region, technological advancements in design and manufacturing, and product modernization in terms of quality and application development.
As compared to North America and Europe, there are very few adhesives companies producing Plastic Compounds in APAC. Moreover, the availability of cheap raw materials and labor coupled with significant domestic demand, makes this region the most attractive for industry participants. Major players such as Arkema (France) and Jowat SE (Germany), have framed their strategies to penetrate and create bases in the emerging markets of APAC.
Plastic Compounds Market Key Players
Major players operating in the plastic compounds market such as 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). These companies have strong distribution networks as well as reliable manufacturing facilities across key regions, such as North America, Europe, and Asia Pacific. They have an established portfolio of a robust market presence, reputable products and services, and strong business strategies. Furthermore, these companies have a significant market share, a larger product footprint, products with wider applications, and broader geographical use cases.
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. https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=43634375
About MarketsandMarkets
MarketsandMarkets is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Rohan Salgarkar
MarketsandMarkets INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Website: https://www.marketsandmarkets.com
