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Global Plastic Compounding Market 2019-2023 | Growing Demand for Lightweight Vehicles to Boost Growth | Technavio

September 6, 2019
Global Plastic Compounding Market 2019-2023 | Growing Demand for Lightweight Vehicles to Boost Growth | Technavio
Global Plastic Compounding Market 2019-2023 | Growing Demand for Lightweight Vehicles to Boost Growth | Technavio

LONDON--(BUSINESS WIRE)--Sep 6, 2019--

The global plastic compounding market size is poised to reach USD 20.65 billion by 2023, according to a new report by Technavio, progressing at a CAGR of over 6% during the forecast period.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190906005264/en/

Technavio has announced its latest market research report titled global plastic compounding market 2019-2023. (Graphic: Business Wire)

Read the 156-page research report with TOC on “Plastic Compounding Market Analysis Report by applications (packaging, construction, automotive, electrical and electronics, and others) and geographical regions (North America, Europe, APAC, South America, and MEA) 2019 - 2023” at:

https://www.technavio.com/report/plastic-compounding-market-industry-analysis

The market is driven by the growing demand for lightweight vehicles. In addition, increase in the adoption of plastic packaging is anticipated to further boost the plastic compounding market during the forecast period.

Currently, plastic compounding products are finding large-scale applications in various car parts. The automotive sector is focusing on reducing the weight of vehicles because of the increased demand for more fuel-efficient cars. To reduce the overall weight of vehicles, car manufacturers are now replacing metal components with plastic parts. Also, along with providing enhanced fuel efficiency, these plastic compounds provide better safety and thermal resistance compared to metal parts because of their improved strength and better non-malleable and ductile nature. Thus, the growth rate of plastic compounds in the automotive sector is expected to increase with the introduction of more efficient electric vehicles, where there is an increased need for electricity and heat resistance.

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Furthermore, the demand for plastic packaging is increasing across the globe. The healthcare sector is witnessing high demand for plastic packaging. Proper packaging is required in the healthcare industry to keep the drugs hygienic and retain the medical properties of drugs. Plastic packaging also finds high demand in the food and beverage industry. The retail industry is also witnessing high demand for plastic packaging. Thus, all these factors are expected to increase the adoption of plastic packaging during the forecast period.

For More Information: Speak to an Analyst

The report includes detailed profiles of the leading companies & prominent vendors of the market:

Market Segmentation by Category and Product Types:

The Plastic Compounding Market can be broadly categorized into the following applications:

Key Regions for the Plastic Compounding Market:

Featuring a breakdown of region wise market shares until 2019.

Some of the key topics covered in the report include:

Market Landscape

Market Sizing

Vendor Landscape

Related Reports on Materials Market are:

Expanded Polystyrene Market – Global Expanded Polystyrene Market by application (electronic appliances, food and beverages, healthcare, and other applications) and geography (APAC, Europe, MEA, North America, and South America).

Electronic Adhesives Market – Global Electronic Adhesives Market by material (silicone adhesives, polyurethane adhesives, acrylic adhesives, epoxy adhesives, and others), product (electrically conductive adhesives, thermally conductive adhesives, UV curing adhesives, and others), application (surface mounting, conformal coatings, wire tacking, and potting and encapsulation), and geography (APAC, Europe, MEA, North America, and South America).

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at media@technavio.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190906005264/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

www.technavio.com

KEYWORD:

INDUSTRY KEYWORD: AUTOMOTIVE MANUFACTURING MANUFACTURING PACKAGING CHEMICALS/PLASTICS

SOURCE: Technavio Research

Copyright Business Wire 2019.

PUB: 09/06/2019 09:49 AM/DISC: 09/06/2019 09:49 AM

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