The global automotive plastic compounding market was valued at USD 59 billion in 2019 and is estimated to reach USD 91 billion by 2026, expanding at a CAGR of 6% during the forecast period, 2020 – 2026. The growth of the market is attributed to increasing demand for plastic compounds and increase in application in infrastructural growth.
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Plastic compounding is a manufacturing procedure that involves melt blending of plastics with some additional component to change its electrical, thermal, aesthetic, and physical characteristics. The base resin is converted to a desired plastic form in compounding of plastics that is more uniform, usable, and effective. The global automotive plastic compounding market is measured by international organizations and environmental agencies that constantly update and develop recycling norms, along with environmental policies. Carcinogenic and non-biodegradability nature of some products has been under constant evaluation. Incorporation of compounded plastics in construction precisely in performance of storage tanks, safety windows, cables, insulation materials, pipes, floorings, and doors is expected to provide a positive view for the industry. Increasing prominence of bio plastics including better surface finish for automotive exterior and interior applications is projected to further expand the industry share.
Drivers, Restrains, Opportunities and Market Trends:
Competitive Landscape of Global Automotive Plastic Compounding Market:
Major players in the market include Covestro AG, Kraton Corporation, The Dow Chemical Company, LyondellBasell Industries, Aurora Plastics LLC, A. Schulman, Lanxess AG, RTP Company, SABIC, Foster Corporation, Solvay, Kuraray Plastics Co. Ltd., MRC Polymers Inc., BASF SE, Asahi Kasei PlasticsPolyOne Corporation, and Chevron Phillips Chemical Company LLC.
The major market players are engaged in inorganic and organic strategies for their growth and development. One of the major market player, SABIC introduced polyolefin elastomer foam solution in 2019, for casual, footwear both, and sports shoes. Another major market player, the Dow chemical company collaborated with ELBA, Hosokawa Alpine, and BOBST, in 2019 to make recyclable barrier packaging.
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Segments Covered in the Report:
The global automotive plastic compounding market has been segmented on the basis of
Few Points of Table of Content:
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Automotive Plastic Compounding Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.4. Market Trends
4.4. Automotive Plastic Compounding Market – Supply Chain
4.5. Global Automotive Plastic Compounding Market Forecast
4.5.1. Automotive Plastic Compounding Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Automotive Plastic Compounding Market Size (000? Units) and Y-o-Y Growth
4.5.3. Automotive Plastic Compounding Market Absolute $ Opportunity
5.1. Market Trends
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Automotive Plastic Compounding Market Size and Volume Forecast by Type
5.3.1. Acrylonitrile Butadiene Styrene (ABS)
5.3.2. Polypropylene (PP)
5.3.3. Polyurethane (PU)
5.3.4. Polyvinyl Chloride (PVC)
5.3.5. Polyethylene (PE)
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
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