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WILMINGTON, Del. , Oct. 3, 2022 /PRNewswire/ -- A recent research report on plastic compounding market found that plastic compounding solutions are steadily gaining adoption in multiple industries notably consumer goods, automotive, and construction. The use of thermoplastics compounding in a slew of 3D modelling and medical applications has opened up vast avenue for manufacturers. The size of plastic compounding market is forecast to reach US$ 107.6 Bn by 2031.

Growing trend of replacing metals with high-performance polymers in automotive industry has created enormous revenue potential, underscored recent developments in plastic compounding market. The demand has gained momentum on the back of high-performance characteristics of these plastics, notably excellent impact and tensile strength, UV resistance, and remarkable combination of material properties.

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Particularly, a variety of additives, fillers, and polymers are incorporated in thermoplastics polymers improve mechanical performance characteristics, making them suitable as low-cost metal substitutes in customized applications. Stridently, the plastic compounding market is slated for incredible opportunities on the back of strides in custom polymer compounding.

Key Findings of Plastic Compounding Market Study

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Plastic Compounding Market: Key Drivers

Plastic Compounding Market: Regional Growth Dynamics

Asia Pacific is poised to generate sizable revenue streams to the global plastic compounding market during the forecast period. Rapid expansion of the regional market is spurred by massive uptake of plastic compounding in automotive industry. Additionally, the demand for products is rising in several industries including automotive, electronics, and consumer goods. Furthermore, growing investments in bioplastics products will open up lucrative opportunities for market players.

Plastic Compounding Market: Competitive Landscape

Firms are keenly building up their expertise in pre-work testing and post-blending testing methods to capture unique value propositions, observed the analysts. A growing number of companies have increased their stakes in bio-plastics sector to gain a competitive edge over others, found the TMR study scrutinizing marketing strategy for plastic compounding market.

Some of the prominent companies in plastic compounding market are AMI LLC, RTP Company, Arkema Group, Clariant International, DSM N.V., Sojitz Corporation, Celanese Corporation, BASF SE, and DuPont.

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Transparency Market Research, a global market research company registered at Wilmington, Delaware , United States , provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

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