Americas Plastic Compounding Market Size, Share & Trends Analysis Report By Product (PP, PET, TPV, TPO, PVC, PBT, ABS), By Application (Automotive, Electrical & Electronics, Construction), By Region, And Segment Forecasts, 2023 - 2030

Americas Plastic Compounding Market Growth & Trends

The Americas plastic compounding market size is expected to reach USD 23.88 billion by 2030, expanding at a CAGR of 4.7% during the forecast period, according to a new report by Grand View Research, Inc. The shift in trend towards lightweight composites to lower vehicular weight and thereby foster fuel savings & lower carbon emission levels are anticipated to drive demand.

The increasing demand from major end-use industries such as automotive, electrical & electronics, packaging, construction, and consumer goods is expected to remain a key driving factor for market growth. Plastic compounds are rapidly replacing conventional materials such as wood, glass, and metals in various applications on account of their flexibility, lubricity, and increased strength & stiffness.

Favorable federal regulations by agencies such as National Highway Traffic Safety Administration (NHSTA) and California Air Resources Board (CARB) regarding carbon emissions along with the U.S. EPA initiatives to develop plastics compounds in lightweight & fuel-efficient cars are likely to augment the regional market’s growth.

Polyethylene terephthalate (PET) is expected to be the fastest-growing product segment owing to increasing usage in end-use industries such as packaging and electrical & electronics. Packaging is a dominant application market where PET compounds are utilized in large quantities for the production of bottles, particularly carbonated beverages, and nutritional drinks.

Americas Plastic Compounding Market Report Highlights

• The Americas plastic compounding market demand exceeded 16.30 billion in 2022 and is expected to reach 23.88 billion by 2030, growing at a CAGR of 4.7% from 2023 to 2030
• Due to a considerable rise in consumerism that is driven by economic growth, a favorable credit landscape, and increased disposable income, countries in Latin America have witnessed an exponential rise in manufacturing activities
• Mexico emerged as the fastest-growing market with an estimated CAGR of 7.4% from 2023 to 2030
• Increasing number of free trade zones and high per capita income in emerging economies leading to increased spending in automotive and construction industries
• Polypropylene is used in a number of automotive applications including accessories, covers, electrical connectors, cooler fans, and plugs. The segment was valued at USD 2.52 billion in 2022, growing at an estimated CAGR of 4.4% from 2023 to 2030.

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