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The rising number of commercial and residential construction projects is likely to promote innovation in plastic compounding manufacturing, propelling the market during the forecast period.

The global plastic compounding market is expected to grow from $624.46 billion in 2022 to $674.38 billion in 2023 at a compound annual growth rate (CAGR) of 8%. The global plastic compounding market size is expected to reach $883.31 billion in 2027 at a CAGR of 7%.

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Global plastic compounding Market Segments Include:

• By Product: Polyethylene (PE), Polypropylene (PP), Poly Vinyl Chloride (PVC), Polystyrene (PS), Polyethylene Terephthalate (PET), Polybutylene Terephthalate (PBT), Polyamide (PA), Polycarbonate (PC), Acrylonitrile Butadiene Styrene (ABS), Other Products
• By Source: Fossil-Based, Bio-Based, Recycled
• By Application: Automotive And Transportation, Infrastructure And Construction, Electrical And Electronics, Packaging, Consumer Goods And Lifestyle, Industrial Machinery, Other Applications
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global plastic compounding market in 2021.

Major Market Players in the plastic compounding market include Adell Plastics Inc., Asahi Kasei Corporation, Celanese Corporation, DowDuPont Inc., Solvay SA, SABIC, LyondellBasell Industries Holdings B.V, Dow Inc., RTP Company.

Technological developments are a major trend that is gaining traction in the plastic compounding market. To increase their market position, major firms in the plastic compounding market are focusing on creating breakthrough technologies. Lummus Technology LLC., a process technology developer based in the United States, for example, introduced Novolen Pure polypropylene (PP) technology in November 2022. This creative new polymer grade range can aid in the production of high-quality items for automotive, medical, and food packaging materials. By producing a superior hydrogen reaction with the catalyst, this novel non-phthalate production process saves significant energy. It also provides several variants tailored to an operator’s process and end-product requirements.

The Plastic Compounding Global Market Report 2023  provides a plastic compounding market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The plastic compounding market forecast analyzes plastic compounding market size, plastic compounding market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The process of adding extra components into a molten plastic foundation to form a material with the appropriate properties is referred to as plastic compounding. This method allows for the fabrication of unique plastic materials with enhanced strength, durability, flame retardancy, and UV stability.

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