The Plastic Compounding Market size is set to gain traction from their increasing usage in the automotive and packaging industry. Besides, construction activities in emerging economies are increasing at a fast pace. In addition to that, ongoing technological advancements in the electrical and automotive industries would affect the market positively in the coming years. As per the report, the plastic compounding market size stood at USD 52.74 billion in 2018. It is set to reach USD 87.11 billion by 2026, thereby exhibiting a CAGR of 6.5% during the forecast period.
Information source:
https://www.fortunebusinessinsights.com/plastic-compounding-market-102550
Drivers & Restraints-
Increasing Number of Commercial & Residential Projects to Augment Growth
Nowadays, plastics are being used extensively in the insulation of infrastructures and buildings. Several products required for construction are made mainly by utilizing plastics. These include pipes, cables, doors, safety windows, and flooring. Compounded plastics possess numerous features that are similar to steel. They are resistant to harsh environmental conditions and rust, have robust strength, and are smooth in texture.
List of the Companies Profiled in the Global Plastic Compounding Market are:
LANXESS A.G.
BASF SE
PolyVisions
Asahi Kasei Corporation
Aurora Plastics LLC
SABIC
LyondellBasell
Kingfa SCI. & TECH. CO., LTD.
DuPont
Celanese Corporation
RTP Company
Solvay S.A.
KURARAY CO., LTD.
Kraton Corporation
Covestro AG
Kraton Corporation