North America Plastic Compounding Market- Industry Trends and Forecast to 2030
North America Plastic Compounding Market, By Product Type (Polyethylene (PE), Polypropylene (PP), Thermoplastic Vulcanizates, Thermoplastic Polyolefins, Poly Vinyl Chloride, Polystyrene, Polyethylene Terephthalate (PET), Poly-Butylene Terephthalate (PBT), Polyamide (PA), Polycarbonate, Acrylonitrile Butadiene Styrene, and Others), Source (Fossil-Based, Bio-Based, and Recycled), Additive Type (Fillers, Anti-Oxidants, Colorants, UV Stabilizers, Reinforcement Agents, Flame-Retardants, Anti-Foaming Agents, Oxygen Scavengers, Blowing Agents, and Others), Manufacturing Process (Injection Molding, Extrusion, and Others), Application (Automotive, Building & Construction, Packaging, Electrical & Electronics, Medical, Optical Media, Consumer Goods, Industrial Machinery, Textiles, and Others), Country (U.S., Canada, and Mexico) Industry Trends and Forecast to 2030
Market Definition
Plastic compounding is a process of transforming the characteristics of basic plastics using mixtures of plastics and additives. Plastic compounds have superior physical properties such as a wide range of conductivity and flame retardancy and are lightweight.
These properties increase their demand in various automotive, building and construction, packaging, and electrical and electronics, thus boosting the market growth.
Plastic compounds are widely used in the electronic and electrical industries for electromagnetic shielding and antistatic applications. In addition, they are replacing metal components in the automotive industry. This has helped in increasing car safety by reducing the total weight of the vehicle.
Plastic compounding has also lowered carbon emissions and increased fuel efficiency and performance of vehicles in the automotive industry, which in turn boosts market growth.
Market Segmentation
The North America plastic compounding market is segmented into five notable segments based on product type, source, additive type, manufacturing process, and application.
• Based on product type, the market is segmented into Polyethylene (PE), Polypropylene (PP), thermoplastic vulcanizates, thermoplastic polyolefins, poly vinyl chloride, polystyrene, Polyethylene Terephthalate (PET), Poly-Butylene Terephthalate (PBT), Polyamide (PA), polycarbonate, acrylonitrile butadiene styrene, and others
• Based on source type, the market is segmented into fossil-based, bio-based, and recycled
• Based on additive type, the market is segmented into fillers, anti-oxidants, colorants, UV stabilizers, reinforcement agents, flame-retardants, anti-foaming agents, oxygen scavengers, blowing agents, and others
• Based on manufacturing process type, the market is segmented into injection molding, extrusion, and others
• Based on application type, the market is segmented into automotive, building & construction, packaging, electrical & electronics, medical, optical media, consumer goods, industrial machinery, textiles, and others
Market Players
Some of the major market players operating in the North America plastic compounding market are:
• DuPont
• BASF SE
• Dow
• Arkema
• KURARAY CO., LTD
• Asahi Kasei Corporation
• RTP Company
• Ravago
• LyondellBasell Industries Holdings B.V (A Subsidiary of LyondellBasell)
• KRATON CORPORATION. (A Subsidiary of DL Chemical Co., Ltd.)
• Akro-Plastic GmbH
• Aurora Plastics LLC
• Exxon Mobil Corporation
• DSM
• SABIC
• INEOS
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