SAN FRANCISCO , Sept. 8, 2022 /PRNewswire/ -- The global plastic compounding market size is expected to reach USD 112.08 billion by 2030, according to a report by Grand View Research, Inc. It is expected to expand at a CAGR of 7.4% from 2022 to 2030. The construction and vehicle industries are expected to encourage demand for interiors, exteriors, and under-the-hood components. Plastic compounding is used in automotive under-hood components, building interiors and exteriors in construction and infrastructure, and the electrical and electronics industry, which is anticipated to boost the market growth.

Key Industry Insights & Findings from the report:

Read 195-page full market research report for more Insights, "Plastic Compounding Market Size, Share & Trends Analysis Report By Product (PE, PP, PET, TPV, TPO, PVC, PS, PBT, PA, PC, ABS), By Application (Automotive, Electrical & Electronics), By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.

Plastic Compounding Market Growth & Trends

Polyethylene Terephthalate (PET) is a plastic used to make bottle containers for packaged water and fizzy beverages. PET is considered a safe, durable, flexible, non-toxic, lightweight, and 100% recyclable raw material. As a result, it has acquired wide acceptance, which is expected to propel the expansion of the market over the forecast period.

In 2021, Asia Pacific was the top revenue source for the PET compound market. The regional usage of PET compound is expected to be driven by rising demand for beverages, particularly carbonated drinks and nutritional drinks. The expansion in population, changing lifestyles, and the emergence of local beverage makers all contribute to this trend. The presence of a large pool of contract bottlers in the Asia Pacific will also have an impact on the variety of packaging industries.

Plastics have always been used extensively in the construction sector, with products ranging from pipe fittings and insulation to construction materials and equipment. Plastic compounds are adjusted to meet their specific needs. For instance, flame retardant chemicals are added to Polyvinyl Chloride (PVC) components and are an essential part of building materials.

Grand View Research has segmented the global plastic compounding market based on product, application, and region 

Plastic Compounding Market - Product Outlook (Volume, Kilotons, Revenue, USD Million, 2019 - 2030)

Plastic Compounding Market - Application Outlook (Volume, Kilotons, Revenue, USD Million, 2019 - 2030)

Plastic Compounding Market - Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2019 - 2030)

List of Key Players in Plastic Compounding Market

Check out more related studies published by Grand View Research:

Browse through Grand View Research's Plastics, Polymers & Resins Industry Research Reports.

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco , the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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SOURCE Grand View Research, Inc.

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