Purging Compound Market in packaging sector is anticipated to grow substantially over the forecast time span. The robust growth of this business space has led to a spike in the demand for purging compounds in the extrusion processes in the packaging companies, eventually leading to a change of dynamics in purging compound market outlook. Furthermore, this business vertical comprises myriad sub-verticals such as flexible packaging, medical packaging, liquid packaging, and the like, thereby leading to a rapid rise in the requirement for purging products across the global expanse of this domain.
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Granules form demand was more than 6 kilo tons in 2016. Increasing necessity to remove unwanted carbon build up from the plastic extrusion machines will drive product demand. It also serves as cost effective method for treating several chemicals present in granule structure of ultra-high purity purges. In addition, the form is widely utilized for producing specialized cleansing materials, thus boosting global purging compound market. Instable raw material costs due to fluctuating crude oil prices may hamper global purging compound market growth.
The dire need to make purging highly efficient and less expensive has been one of principal catalysts for purging compound market growth in recent years. In a bid to reinforce efficiency and reduce purging costs, companies partaking in purging compound market share have been making continuous attempts to innovate unique compounds that can be used for myriad end-use arenas such as those of custom molding, packaging, automotive, electronics, healthcare, and consumer goods. Last year for instance, the Dyna-Purge Division of Shuman Plastics Inc. launched the Dyna-Purge A for polypropylene color changes.
Asia Pacific will witness a CAGR over 7% up to 2024. The regional growth attributed to rapid industrialization of numerous industries including automotive, construction, food & beverages, chemicals and petrochemicals. Increasing product application scope to reduce machine downtime and expand production efficiency in these industries will stimulate global purging compound market.
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Mechanical purging is anticipated to exceed USD 400 million by 2024. Rising application of high viscosity plastics to eliminate polymer from barrels and screws will support product penetration. Factors such as safety and quality coupled with efficient plastic resin & contamination removal will drive segment demand. Moreover, expansion of manufacturing industries will boost purging compound market growth.
Speaking of the prominent companies expanding their reach in the global purging compound industry, Velox GmbH (Hamburg, Germany) is a major leader that has recently developed a new purging compound, CleanPlus Express, for extrusion lines. The compound helps accelerate material & color changes as well as flush out old deposits. Moreover, the compound is also used to enable trouble-free start-up and machinery shutdowns. In terms of commercialization, Global Market Insights, Inc., forecasts purging compound market to surpass a valuation of USD 600 million by 2024.
Table Of Content For This Research Report:
Chapter 4. Global Purging Compound Market, By Process
4.1. Global purging compound market share by process, 2016 & 2024
4.2.1. Market estimates and forecast, 2013 – 2024
4.2.2. Market estimates and forecast, by region, 2013–2024
4.3. Injection molding
4.3.1. Market estimates and forecast, 2013 – 2024
4.3.2. Market estimates and forecast, by region, 2013–2024
4.4. Blow molding
4.4.1. Market estimates and forecast, 2013 – 2024
4.4.2. Market estimates and forecast, by region, 2013–2024
Chapter 5. Global Purging Compound Market, By Product
5.1. Global purging compound market share by product, 2016 & 2024
5.2. Mechanical purging
5.2.1. Market estimates and forecast, 2013 – 2024
5.2.2. Market estimates and forecast, by region, 2013–2024
5.3. Chemical purging/ foaming purging
5.3.1. Market estimates and forecast, 2013 – 2024
5.3.2. Market estimates and forecast, by region, 2013–2024
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