The plastic compounding market encompasses various manufacturing processes, including injection molding, extrusion, and others. Injection molding involves melting and injecting plastic into molds, while extrusion forms continuous shapes by forcing plastic through a die. These processes cater to diverse applications, including automotive, building and construction, packaging, electrical and electronics, medical, optical media, consumer goods, industrial machinery, textiles, and more. This versatility supports industries in enhancing material properties, performance, and sustainability for a wide range of end products.
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Data Bridge Market Research analyses that the Europe Plastic Compounding Market value, which was USD 58,710.77 million in 2022, is expected to reach the value of USD 84,133.95 Million by 2030, at a CAGR of 4.6% in the forecast period of 2023 to 2030. The plastic compounding market's driver is enhancing plastic properties through compounding. It results in improved durability, reduced weight, and enhanced versatility, making plastics more suitable and efficient for various applications across industries.
Key Findings of the Study
Industry diversification is expected to drive the market's growth rate
The plastic compounding market experiences significant growth due to rising demand in key sectors. Automotive, construction, and packaging industries increasingly rely on compounded plastics to meet their specific needs. In the automotive sector, lightweight and durable materials are sought for enhanced fuel efficiency. The construction industry requires sturdy, weather-resistant materials. Additionally, the packaging sector seeks sustainable, cost-effective materials. These demands drive the market's expansion as compounding technologies address these sector-specific requirements effectively.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Product Type (Polyethylene (PE), Polypropylene (PP), Thermoplastic Vulcanizates, Thermoplastic Polyolefins, Polyvinyl Chloride, Polystyrene, Polyethylene Terephthalate (PET), Poly-Butylene Terephthalate (PBT), Polyamide (PA), Polycarbonate, Acrylonitrile Butadiene Styrene, and Others), Source (Fossil-Based, Bio-Based, and Recycled), Additive Type (Fillers, Anti-Oxidants, Colorants, UV Stabilizers, Reinforcement Agents, Flame-Retardants, Anti-Foaming Agents, Oxygen Scavengers, Blowing Agents, and Others), Manufacturing Process (Injection Molding, Extrusion, and Others), Application (Automotive, Building and Construction, Packaging, Electrical and Electronics, Medical, Optical Media, Consumer Goods, Industrial Machinery, Textiles, and Others)
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Countries Covered
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Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe
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Market Players Covered
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DuPont (U.S.), BASF SE (Germany), Dow (U.S.), Arkema (France), KURARAY CO., LTD. (Japan), Adell Plastic Inc. (U.S.), Asahi Kasei Corporation (Japan), RTP Company (U.S.), Ravago (Belgium), LyondellBasell Industries Holdings B.V (Netherlands), KRATON CORPORATION (U.S.), PolyVisions (U.S.), Akro-Plastic GmbH (Germany), Aurora Plastics LLC (U.S.), Exxon Mobil Corporation (U.S.), DSM (Netherlands), SABIC (Saudi Arabia), Celanese Corporation (U.S.), LANXESS (Germany), INEOS (U.K.)
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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Segment Analysis:
The Europe plastic compounding market is categorized based on product type, source, additive type, manufacturing process and application.
- On the basis of product type, the Europe plastic compounding market is classified into polyethylene (PE), polypropylene (PP), thermoplastic vulcanizates, thermoplastic polyolefins, polyvinyl chloride, polystyrene, polyethylene terephthalate (PET), poly-butylene terephthalate (PBT), polyamide (PA), polycarbonate, acrylonitrile butadiene styrene, and others.
- On the basis of source, the Europe plastic compounding market is classified into fossil-based, bio-based, and recycled.
- On the basis of additive type, the Europe plastic compounding market is classified into less than fillers, anti-oxidants, colorants, uv stabilizers, reinforcement agents, flame-retardants, anti-foaming agents, oxygen scavengers, blowing agents, and others.
- On the basis of manufacturing process, the Europe plastic compounding market is classified into injection molding, extrusion, and others.
- On the basis of application, the Europe plastic compounding market is classified into automotive, building and construction, packaging, electrical and electronics, medical, optical media, consumer goods, industrial machinery, textiles, and others.
Major Players
Data Bridge Market Research recognizes the following companies as the Europe plastic compounding market players in Europe plastic compounding market are DuPont (U.S.), BASF SE (Germany), Dow (U.S.), Arkema (France), KURARAY CO., LTD. (Japan), Adell Plastic Inc. (U.S.), Asahi Kasei Corporation (Japan), RTP Company (U.S.), Ravago (Belgium), LyondellBasell Industries Holdings B.V (Netherlands).
Market Developments
- In June 2023, BASF Venture Capital Gmbh (BVC), the corporate venture arm of the BASF group, announced an investment in DePoly SA, a Swiss sustainable plastic solutions provider. This partnership aims to foster the development of innovative and sustainable solutions for the circular economy. BASF's investment underscores its commitment to advancing eco-friendly materials and contributing to the creation of a more sustainable and circular plastics industry.
- In June 2023, SABIC, a prominent player in the chemical industry, was honored with the 2023 American Chemistry Council (ACC) Sustainability Leadership Award. This recognition acknowledged SABIC's exceptional efforts in developing and implementing solutions to address the issue of ocean-bound plastic (OCP). SABIC's commitment to sustainability and the environment was highlighted through its pioneering initiatives to mitigate plastic waste's impact on our oceans.
- In May 2023, Dow Inc., a prominent materials provider, entered into an agreement with New Energy Blue, a bio-conversion company. The collaboration involves the purchase of bio-based ethylene produced by New Energy Blue, aimed at reducing carbon emissions in plastic production. This strategic collaboration aligns with Dow's commitment to sustainability by incorporating eco-friendly, bio-sourced materials into its processes, ultimately contributing to a greener approach to plastic manufacturing.
- In May 2023, Evonik Industries AG, a German chemical company, unveiled TEGO Cycle, a series of additives designed to convert plastic waste into valuable plastics. These innovative additives catalyze upcycling plastics, contributing to a more sustainable and circular economy. Evonik's introduction of TEGO Cycle underscores the company's commitment to addressing plastic waste issues and promoting the responsible reuse of plastics for a greener future.
- In June 2022, DuPont finalized the sale of its Biomaterials business division to the Huafon Group for around $240 million, with the transfer effective May 31, 2022. This strategic move enables DuPont to streamline its operations and concentrate on its core business segments. DuPont aims to optimize its resources and bolster its competitiveness in areas with a stronger market presence and growth potential by divesting the Biomaterials unit.
Regional Analysis
Geographically, the countries covered in the Europe plastic compounding market report are Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe.
As per Data Bridge Market Research analysis:
North America is the dominant region in the Europe plastic compounding market during the forecast period 2023-2030
Germany dominates the European plastic compounding market is underpinned by its substantial market share and revenue. This dominance arises from the versatile applications of plastic compounding products across various regional industries. Germany's well-established manufacturing capabilities and diverse sectors, such as automotive, packaging, and construction, contribute to the extensive utilization of plastic compounding solutions, consolidating its position as a market leader in Europe.
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