APAC plastic compounding market to gain momentum across automotive sector

Plastic compounders improve the functioning of plastic resins with important additives with a view to cater to the demands of end-users. These materials demonstrate significant material knowledge, for instance, elasticity, security tagging, bio-resorbable rates, color, and several other characteristics of plastic resins which can alter for compounding. Although the COVID-19 pandemic has had a negative effect on the global economy, Asia Pacific is set to recover rapidly since it holds substantial potential for expansion of the industry.

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During 2019, the APAC plastic compounding market held a valuation of about $54.5 billion and by 2026, the industry share is slated to reach over $71.7 billion, thanks to the impetus from the construction and automotive sectors.

Being one of the prominent end-users in the Asia Pacific market for plastic compounding, the construction sector is set to attain high revenue gains through the forecast timeframe. This is attributed to the use of engineered plastics as substitutes across an array of industrial sectors including applications such as doors, roofing, building panels, and windows, among others. The demand from the segment is expected to soar due to the rising population density across countries such as China, Japan, South Korea, and India alongside the development of engineered plastics.

Notwithstanding the significant contribution of the construction sector, the automotive industry is expected to claim a large chunk of the industrial revenue through the upcoming times, due to widespread applications of plastics across automobile components such as windshields and drive systems. During 2019, the segment represented the largest portion of the industry share.

The APAC plastic compounding market forecast is primarily being driven by the emphasis on weight reduction of vehicles by the regulatory bodies. Due to the compliance requirements, leading automakers have been aiming to eliminate dependence on metal components by replacing them with plastic parts which are significantly lighter and cheaper.

In terms of product type, thermoplastic elastomer, thermoplastic polymer, and thermosetting polymer are the three key segments of the APAC plastic compounding industry forecast. The thermoplastic polymer segment is expected to command a substantial industry share through the forecast years. Having claimed the largest portion of the market share during 2019, the segment is expected to surge at a 6% CAGR through the forecast years. Although these plastics are utilized across a plethora of applications, the weight-critical application areas are likely to exhibit high demand, pushing the plastic compounding market size in Asia Pacific.

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The thermoplastic polymers have further been bifurcated into polypropylene, PETE, polyethylene, polyester, polyvinyl chloride (PVC), and polycarbonate. The PVC segment claimed a major share of over 60% of the total industry revenue during 2019 and is projected to expand further continuously. The high growth rate of this sub-segment can be accredited to the multiple applications of polyvinyl chloride across the construction industry, including window brackets, piping, cable insulation, and plumbing, among others. With increasing R&D initiatives, ascension of the Asia Pacific plastic compounding industry trends is certain.

Some leading industry players in the APAC plastic compounding market include Solvay S.A., Foster Corporation, BASF SE, Covestro AG, LyondellBasell Industries, PolyOne Corporation, Kuraray Plastics, A. Schulman, and Aurora Plastics LLC.

Table of content:

Chapter 3   Asia Pacific Plastic compounding Industry Insights

3.1    Industry coverage

3.2    Industry size and forecast, 2016 – 2026

3.3    Industry ecosystem analysis

3.3.1    Vendor matrix

3.4    Future trends

3.4.1    Innovation Landscape

3.5    Raw material analysis

3.6    Regulatory norms & directives

3.7    Drivers & restraints

3.7.1    Drivers

3.7.2    Restraints

3.8    Application growth mapping

3.9    Industry analysis: Porter’s

3.10    Competitive benchmarking

3.10.1    Strategy dashboard

3.11    PEST analysis

Chapter 4   Asia Pacific Plastic compounding Market, By Product

4.1    Asia Pacific Plastic compounding Market by product, 2019 & 2026

4.2    Thermoplastic Polymer

4.2.1    Market size, 2016 - 2026

4.2.2    Market size by country, 2016 – 2026

4.2.3    Polyethylene

4.2.3.1    Market size, 2016 - 2026

4.2.3.2    Market size by country, 2016 – 2026

4.2.4    Polypropylene

4.2.4.1    Market size, 2016 - 2026

4.2.4.2    Market size by country, 2016 – 2026

4.2.5    Polycarbonate

4.2.5.1    Market size, 2016 - 2026

4.2.5.2    Market size by country, 2016 – 2026

4.2.6    Polyester

4.2.6.1    Market size, 2016 - 2026

4.2.6.2    Market size by country, 2016 – 2026

4.2.7    PETE

4.2.7.1    Market size, 2016 - 2026

4.2.7.2    Market size by country, 2016 – 2026

4.2.8    PVC

4.2.8.1    Market size, 2016 - 2026

4.2.8.2    Market size by country, 2016 – 2026

4.2.9    Others

4.2.9.1    Market size, 2016 - 2026

4.2.9.2    Market size by country, 2016 – 2026

4.3    Thermosetting Polymer

4.3.1    Market size, 2016 - 2026

4.3.2    Market size by country, 2016 – 2026

4.3.3    Polyurethane resin

4.3.3.1    Market size, 2016 - 2026

4.3.3.2    Market size by country, 2016 – 2026

4.3.4    Epoxy resin

4.3.4.1    Market size, 2016 - 2026

4.3.4.2    Market size by country, 2016 – 2026

4.3.5    Others

4.3.5.1    Market size, 2016 - 2026

4.3.5.2    Market size by country, 2016 – 2026

4.4    Thermoplastic Elastomer

4.4.1    Market size, 2016 - 2026

4.4.2    Market size by country, 2016 – 2026

4.4.3    Polyamides

4.4.3.1    Market size, 2016 - 2026

4.4.3.2    Market size by country, 2016 – 2026

4.4.4    Polyurethanes

4.4.4.1    Market size, 2016 - 2026

4.4.4.2    Market size by country, 2016 – 2026

4.4.5    SBC

4.4.5.1    Market size, 2016 - 2026

4.4.5.2    Market size by country, 2016 – 2026

4.4.6    Others

4.4.6.1    Market size, 2016 - 2026

4.4.6.2    Market size by country, 2016 – 2026

4.5    Others

4.5.1    Market size, 2016 - 2026

4.5.2    Market size by country, 2016 – 2026

 

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