North America Plastic Compounding Market Size, Share & Trends Analysis Report By Product, By Source (Fossil-based, Bio-based and Recycled), By Application, By Country and Growth Forecast, 2024 - 2031
The North America Plastic Compounding Market would witness market growth of 6.8% CAGR during the forecast period (2024-2031). In the year 2020, the North America market's volume surged to 4,427.3 kilo tonnes, showcasing a growth of 23.2% (2020-2023).
Plastic compounds play a vital role in the building and construction industry, offering a wide range of advantages and applications. One of the primary uses of plastic compounds in this sector is in structural components, such as pipes, fittings, profiles, and panels. Thus, the Canada market utilized 455.6 kilo tonnes of plastic compounds in the market 2020.
The US market dominated the North America Plastic Compounding Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $18,371.1 million by 2031. The Canada market is experiencing a CAGR of 9.2% during (2024 - 2031). Additionally, The Mexico market would experience a CAGR of 8.3% during (2024 - 2031).
The versatility and flexibility offered by compounded plastics make them well-suited for various applications, from structural components in automotive vehicles to food packaging materials and medical devices.
Moreover, in the automotive industry, compounded plastics are used in interior and exterior components, under-the-hood parts, and lightweight structural elements to improve fuel efficiency and vehicle performance while reducing emissions.
The automotive industry in Mexico, like elsewhere, is increasingly focused on lightweighting initiatives to improve fuel efficiency, reduce emissions, and enhance vehicle performance. It offers significant weight savings compared to traditional materials such as metal, contributing to the overall lightweight goals of automakers.
Based on Product, the market is segmented into Polypropylene (PP), Polyethylene (PE), Polyvinyl Chloride (PVC), Polystyrene (PS), Polyethylene Terephthalate (PET), Polycarbonate (PC), Polyurethane (PU), Polymethyl Methacrylate (PMMA), Acrylonitrile Butadiene Styrene (ABS) and Others. Based on Source, the market is segmented into Fossil-based, Bio-based and recycled. Based on Application, the market is segmented into Automotive, Building & Construction, Electrical & Electronics, Packaging, Consumer goods, Industrial Machinery, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
List of Key Companies Profiled
- BASF SE
- Saudi Basic Industries Corporation (SABIC)
- Kraton Corporation
- LyondellBasell Industries Holdings B.V.
- DuPont de Nemours, Inc.
- RTP Company, Inc.
- Lanxess AG
- Covestro AG
- Arkema S.A.
- Chevron Phillips Chemical Company LLC
By Product (Volume, Kilo Tonnes, USD billion, 2020-2031)
- Polypropylene (PP)
- Polyethylene (PE)
- Polyvinyl Chloride (PVC)
- Polystyrene (PS)
- Polyethylene Terephthalate (PET)
- Polycarbonate (PC)
- Polyurethane (PU)
- Polymethyl Methacrylate (PMMA)
- Acrylonitrile Butadiene Styrene (ABS)
- Others
- Fossil-based
- Bio-based
- Recycled
- Automotive
- Building & Construction
- Electrical & Electronics
- Packaging
- Consumer goods
- Industrial Machinery
- Others
- US
- Canada
- Mexico
- Rest of North America
- Chapter 1. Market Scope & Methodology
- 1.1 Market Definition
- 1.2 Objectives
- 1.3 Market Scope
- 1.4 Segmentation
- 1.4.1 North America Plastic Compounding Market, by Product
- 1.4.2 North America Plastic Compounding Market, by Source
- 1.4.3 North America Plastic Compounding Market, by Application
- 1.4.4 North America Plastic Compounding Market, by Country
- 1.5 Methodology for the research
- Chapter 2. Market at a Glance
- 2.1 Key Highlights
- Chapter 3. Market Overview
- 3.1 Introduction
- 3.1.1 Overview
- 3.1.1.1 Market Composition and Scenario
- 3.2 Key Factors Impacting the Market
- 3.2.1 Market Drivers
- 3.2.2 Market Restraints
- 3.2.3 Market Opportunities
- 3.2.4 Market Challenges
- Chapter 4. Competition Analysis - Global
- 4.1 KBV Cardinal Matrix
- 4.2 Recent Industry Wide Strategic Developments
- 4.2.1 Partnerships, Collaborations and Agreements
- 4.2.2 Product Launches and Product Expansions
- 4.2.3 Acquisition and Mergers
- 4.2.4 Geographical Expnsion
- 4.3 Top Winning Strategies
- 4.3.1 Key Leading Strategies: Percentage Distribution (2020-2024)
- 4.3.2 Key Strategic Move: (Product Launches and Product Expansions: 2021, Sep – 2024, Feb) Leading Players
- 4.4 Porter Five Forces Analysis
- Chapter 5. North America Plastic Compounding Market by Product
- 5.1 North America Polypropylene (PP) Market by Country
- 5.2 North America Polyethylene (PE) Market by Country
- 5.3 North America Polyvinyl Chloride (PVC) Market by Country
- 5.4 North America Polystyrene (PS) Market by Country
- 5.5 North America Polyethylene Terephthalate (PET) Market by Country
- 5.6 North America Polycarbonate (PC) Market by Country
- 5.7 North America Polyurethane (PU) Market by Country
- 5.8 North America Polymethyl Methacrylate (PMMA) Market by Country
- 5.9 North America Acrylonitrile Butadiene Styrene (ABS) Market by Country
- 5.1 North America Others Market by Country
- Chapter 6. North America Plastic Compounding Market by Source
- 6.1 North America Fossil-based Market by Country
- 6.2 North America Bio-based Market by Country
- 6.3 North America Recycled Market by Country
- Chapter 7. North America Plastic Compounding Market by Application
- 7.1 North America Automotive Market by Country
- 7.2 North America Building & Construction Market by Country
- 7.3 North America Electrical & Electronics Market by Country
- 7.4 North America Packaging Market by Country
- 7.5 North America Consumer goods Market by Country
- 7.6 North America Industrial Machinery Market by Country
- 7.7 North America Others Market by Country
- Chapter 8. North America Plastic Compounding Market by Country
- 8.1 US Plastic Compounding Market
- 8.1.1 US Plastic Compounding Market by Product
- 8.1.2 US Plastic Compounding Market by Source
- 8.1.3 US Plastic Compounding Market by Application
- 8.2 Canada Plastic Compounding Market
- 8.2.1 Canada Plastic Compounding Market by Product
- 8.2.2 Canada Plastic Compounding Market by Source
- 8.2.3 Canada Plastic Compounding Market by Application
- 8.3 Mexico Plastic Compounding Market
- 8.3.1 Mexico Plastic Compounding Market by Product
- 8.3.2 Mexico Plastic Compounding Market by Source
- 8.3.3 Mexico Plastic Compounding Market by Application
- 8.4 Rest of North America Plastic Compounding Market
- 8.4.1 Rest of North America Plastic Compounding Market by Product
- 8.4.2 Rest of North America Plastic Compounding Market by Source
- 8.4.3 Rest of North America Plastic Compounding Market by Application
- Chapter 9. Company Profiles
- 9.1 BASF SE
- 9.1.1 Company Overview
- 9.1.2 Financial Analysis
- 9.1.3 Segmental and Regional Analysis
- 9.1.4 Research & Development Expense
- 9.1.5 Recent strategies and developments:
- 9.1.5.1 Partnerships, Collaborations, and Agreements:
- 9.1.5.2 Product Launches and Product Expansions:
- 9.1.5.3 Geographical Expansions:
- 9.1.6 SWOT Analysis
- 9.2 SABIC (Saudi Arabian Oil Company)
- 9.2.1 Company Overview
- 9.2.2 Financial Analysis
- 9.2.3 Segmental and Regional Analysis
- 9.2.4 Recent strategies and developments:
- 9.2.4.1 Partnerships, Collaborations, and Agreements:
- 9.2.4.2 Product Launches and Product Expansions:
- 9.2.4.3 Geographical Expansions:
- 9.2.5 SWOT Analysis
- 9.3 Kraton Corporation
- 9.3.1 Company Overview
- 9.3.2 Recent strategies and developments:
- 9.3.2.1 Product Launches and Product Expansions:
- 9.3.2.2 Geographical Expansions:
- 9.3.3 SWOT Analysis
- 9.4 LyondellBasell Industries Holdings B.V.
- 9.4.1 Company Overview
- 9.4.2 Financial Analysis
- 9.4.3 Segmental and Regional Analysis
- 9.4.4 Research & Development Expenses
- 9.4.5 Recent strategies and developments:
- 9.4.5.1 Product Launches and Product Expansions:
- 9.4.5.2 Acquisition and Mergers:
- 9.4.6 SWOT Analysis
- 9.5 DuPont de Nemours, Inc.
- 9.5.1 Company Overview
- 9.5.2 Financial Analysis
- 9.5.3 Segmental and Regional Analysis
- 9.5.4 Research & Development Expenses
- 9.5.5 Recent strategies and developments:
- 9.5.5.1 Acquisition and Mergers:
- 9.5.6 SWOT Analysis
- 9.6 RTP Company, Inc.
- 9.6.1 Company Overview
- 9.6.2 SWOT Analysis
- 9.7 Lanxess AG
- 9.7.1 Company Overview
- 9.7.2 Financial Analysis
- 9.7.3 Segmental and Regional Analysis
- 9.7.4 Research & Development Expenses
- 9.7.5 Recent strategies and developments:
- 9.7.5.1 Product Launches and Product Expansions:
- 9.7.5.2 Acquisition and Mergers:
- 9.7.6 SWOT Analysis
- 9.8 Covestro AG
- 9.8.1 Company Overview
- 9.8.2 Financial Analysis
- 9.8.3 Segmental and Regional Analysis
- 9.8.4 Research & Development Expenses
- 9.8.5 Recent strategies and developments:
- 9.8.5.1 Geographical Expansions:
- 9.8.6 SWOT Analysis
- 9.9 Arkema S.A.
- 9.9.1 Company Overview
- 9.9.2 Financial Analysis
- 9.9.3 Segmental and Regional Analysis
- 9.9.4 Recent strategies and developments:
- 9.9.4.1 Product Launches and Product Expansions:
- 9.9.4.2 Acquisition and Mergers:
- 9.9.5 SWOT Analysis
- 9.10. Chevron Phillips Chemical Company LLC
- 9.10.1 Company Overview
- 9.10.2 Financial Analysis
- 9.10.3 Recent strategies and developments:
- 9.10.3.1 Partnerships, Collaborations, and Agreements:
- 9.10.4 SWOT Analysis
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