As per the report published by Allied Market Research, the global plastic compounding market garnered $565.41 billion in 2018 and is anticipated to garner $932.33 billion by 2026, at a CAGR of 6.4% from 2019 to 2026.
The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
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Based on type, the market is segmented into polypropylene, polyethylene, polyvinyl chloride, polystyrene and expanded polystyrene, polyethylene terephthalate, polyurethane, acrylonitrile butadiene styrene, and other polymers. The polypropylene segment held the largest share in 2018, accounting for nearly one-fourth of the total market. On the other hand, the polyethylene segment is expected to grow at the fastest CAGR of 6.8% during the study period.
This makes it important to understand the practical implications of the Plastic compounding market. To gain a competitive advantage, the players must have something unique. By tapping into the untapped market segment, they can establish a relevant point of differentiation, and this report offers an extension analysis of untapped segments to benefit the market players and new entrants to gain the market share.
Plastic compounding market is segmented on the basis of polymer type, end use, and region. Based on end use, the market is divided into automotive, building & construction, packaging, electrical & electronics, medical, and others. The packaging segment contributed to more than one-third of the total market share in 2018 and is expected to retain its top status during the forecast period. However, the building & construction segment, is expected to grow at the highest CAGR of 6.7% from 2019 to 2026.
KEY MARKET PLAYERS:
The report provides the SWOT analysis of the key market players Asahi Kasei Corporation, BASF SE, Celanese Corporation, Covestro AG, DowDuPont Inc., Kingfa Sci. and Tech. Co., Ltd., LyondellBasell Industries Holdings B.V., Polyone Corporation, SABIC, and Solvay SA. Other players operating in this market include Mexichem Specialty Compounds Inc., Coperion GmbH, Adell Plastics, Inc, Sojitz Corporation, and Polyvisions Inc. The latest news related to industry developments in terms of market expansions, acquisitions, growth strategies, joint ventures, collaborations, product launches, market expansions etc. are included in the report for the better understanding of the stakeholders in framing strategic decisions to gain long term profitability and market share.
Region wise, the market is analyzed across North America, Asia-Pacific, Europe, and LAMEA. The market across Asia-Pacific region garnered more than two-fifths of the total market share in 2018 and is expected to dominate throughout the forecast period. Moreover, the region across Europe is projected to grow at the fastest CAGR of 6.7% in between 2019 to 2026.
NEED FOR THE REPORT:
The current situation of pandemic makes it very important for the stakeholders in the Plastic compounding market to understand the market deeply, which will help them in taking sound decisions, to gain the competitive advantage. By exploring the unexplored areas of market, the key players can surely gain a larger market share.
Rise in production of lightweight automobiles and Increase in infrastructure development have propelled the growth of the global plastic compounding market. By end use, the packaging segment held the lion’s share in 2018. Conversely, polyethylene segment, by type would manifest the fastest growth rate by 2026. Moreover, Asia Pacific region dominated the market in 2018, and would continue to dominate throughout the study period.
KEY OFFERINGS OF THE REPORT:
- Key drivers & Opportunities: An extensive analysis on key factors and opportunities available in different segments for strategizing.
- Current trends & forecasts: A comprehensive analysis on latest trends, and forecasts for next few years to frame strategic decisions as a next step.
- Segmental analysis: An extensive analysis of each segment and driving factors such as revenue and growth rate is offered.
- Regional Analysis: A thorough analysis of each geographic region can help market players devise expansion strategies and gain from the opportunity.
- Competitive Landscape: Useful insights on each of the leading market players for outlining competitive scenario and related strategies have been offered in the report.
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