Global Plastic Compounding Market By Product (Olefins, PVC, Polystyrene, PET, Engineered Polymers), By Application (Automotive, Construction, Electrical & Electronics, Consumer Goods, Industrial Machinery) Expected to Reach USD 661.65 Billion by 2022
Global plastic compounding market is expected to reach USD 661.65 billion by 2022, according to a new study by Grand View Research, Inc. Increasing plastics demand across automotive, construction and electrical & electronics industries is expected to drive global plastic compounding market over the next seven years. Shift in trend towards substituting glass and metal with plastics across various end-use industries is also expected to have a positive influence on the market growth. Rapid industrialization and urbanization in emerging markets of Asia Pacific and Latin America are expected to fuel construction activities. This in turn is expected to provide growth opportunities to market participants. Olefins emerged as the largest product and accounted for over 50% of the total market volume in 2014. Growing demand for polyethylene, particularly LDPE, in packaging and transportation is has been a major factor contributing towards olefin compounding. Increasing TPO and TPV demand in automotive applications such as exterior panels, interior trims and flooring is expected to drive olefins demand over the next seven years. View summary of this report analysis/plastic-compounding-market
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