Automotive Plastic Compounding Market 2020 Insights, Share, Growth and Future Trends

The global automotive plastic compounding market was valued at USD 59 billion in 2019 and is estimated to reach USD 91 billion by 2026, expanding at a CAGR of 6% during the forecast period, 2020 – 2026. The growth of the market is attributed to increasing demand for plastic compounds and increase in application in infrastructural growth.

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Plastic compounding is a manufacturing procedure that involves melt blending of plastics with some additional component to change its electrical, thermal, aesthetic, and physical characteristics. The base resin is converted to a desired plastic form in compounding of plastics that is more uniform, usable, and effective. The global automotive plastic compounding market is measured by international organizations and environmental agencies that constantly update and develop recycling norms, along with environmental policies. Carcinogenic and non-biodegradability nature of some products has been under constant evaluation. Incorporation of compounded plastics in construction precisely in performance of storage tanks, safety windows, cables, insulation materials, pipes, floorings, and doors is expected to provide a positive view for the industry. Increasing prominence of bio plastics including better surface finish for automotive exterior and interior applications is projected to further expand the industry share. 

Drivers, Restrains, Opportunities and Market Trends:

• Increasing demand for plastics in electrical and electronics, construction, and automotive sectors is projected to drive the global automotive plastic compounding market growth during the forecast period. Synthetic polymers are the traditional form of plastics used in several applications such as electronic components, furniture, packaging, construction, toys, and automotive components. Regulatory intervention to decrease gross vehicle weight to develop fuel efficiency and decrease carbon emissions has driven automotive to substitute metals and adopt plastics for fabricating automotive components.
• Consumer awareness is one of the factors responsible for increasing the demand for plastic materials in interior designing. Additionally, increasing investment in transport, retail, construction, power, and irrigation is expected to expand the market growth during the forecast period.
• The increasing price of plastic compound, due to high substitution potential and fluctuating petrochemical prices. Oscillating petrochemical prices is projected to hamper the growth of the global automotive plastic compounding market during the forecast period.
• One of the major factors expected to restraint the market growth is the fluctuating price of crude oil, which in turn is projected to impact on the price of plastic compounds during the forecast period.
• Increasing investment in constructing is expected to create opportunity for the global automotive plastic compounding market during the forecast period.
• Increased used of Polyethylene is a growing trend. This trend is expected to expand the market during the forecast period.

Competitive Landscape of Global Automotive Plastic Compounding Market:

Major players in the market include Covestro AG, Kraton Corporation, The Dow Chemical Company, LyondellBasell Industries, Aurora Plastics LLC, A. Schulman, Lanxess AG, RTP Company, SABIC, Foster Corporation, Solvay, Kuraray Plastics Co. Ltd., MRC Polymers Inc., BASF SE, Asahi Kasei PlasticsPolyOne Corporation, and Chevron Phillips Chemical Company LLC.

The major market players are engaged in inorganic and organic strategies for their growth and development. One of the major market player, SABIC introduced polyolefin elastomer foam solution in 2019, for casual, footwear both, and sports shoes. Another major market player, the Dow chemical company collaborated with ELBA, Hosokawa Alpine, and BOBST, in 2019 to make recyclable barrier packaging. 

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Segments Covered in the Report:

The global automotive plastic compounding market has been segmented on the basis of 

By Products:

• Polypropylene
• Polyethylene
• Polyvinyl Chloride
• Polystyrene and Expanded Polystyrene
• Polyethylene Terephthalate
• Polyurethane
• Acrylonitrile Butadiene Styrene 

By Applications:

• Automotive
• Electrical and Electronics
• Construction

By Regions:

• Asia Pacific
• North America
• Latin America
• Europe
• Middle East & Africa

Few Points of Table of Content:

1. Executive Summary 

2. Assumptions and Acronyms Used 

3. Research Methodology 

4. Automotive Plastic Compounding Market Overview

4.1. Introduction

4.1.1. Market Taxonomy

4.1.2. Market Definition

4.2. Macro-Economic Factors

4.2.1. Industry Outlook

4.3. Automotive Plastic Compounding Market Dynamics

4.3.1. Market Drivers

4.3.2. Market Restraints

4.3.3. Opportunity

4.3.4. Market Trends

4.4. Automotive Plastic Compounding Market – Supply Chain

4.5. Global Automotive Plastic Compounding Market Forecast

4.5.1. Automotive Plastic Compounding Market Size (US$ Mn) and Y-o-Y Growth

4.5.2. Automotive Plastic Compounding Market Size (000? Units) and Y-o-Y Growth

4.5.3. Automotive Plastic Compounding Market Absolute $ Opportunity

5. Global Automotive Plastic Compounding Market Analysis and Forecast by Type

5.1. Market Trends

5.2. Introduction

5.2.1. Basis Point Share (BPS) Analysis by Type

5.2.2. Y-o-Y Growth Projections by Type

5.3. Automotive Plastic Compounding Market Size and Volume Forecast by Type

5.3.1. Acrylonitrile Butadiene Styrene (ABS)

5.3.2. Polypropylene (PP)

5.3.3. Polyurethane (PU)

5.3.4. Polyvinyl Chloride (PVC)

5.3.5. Polyethylene (PE)

5.4. Absolute $ Opportunity Assessment by Type

5.5. Market Attractiveness/Growth Potential Analysis by Type

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