Americas Plastic Compounding Market by Key Players, Growth, Regions and Forecast to 2024

The shift in trend towards lightweight composites to lower vehicular weight and thereby foster fuel savings & lower carbon emission levels are anticipated to drive demand. The Americas Plastic Compounding Market is expected to reach USD 19.11 billion by 2024, according to a new report by Grand View Research, Inc.

Increasing demand from major end-use industries such as automotive, electrical & electronics, packaging, construction and consumer goods is expected to remain a key driving factor for market growth. Plastics compounds are rapidly replacing conventional materials such as wood, glass, and metals in various applications on account of their flexibility, lubricity and increased strength & stiffness.

Favorable federal regulations by agencies such as National Highway Traffic Safety Administration (NHSTA) and California Air Resources Board (CARB) regarding carbon emissions along with the U.S. EPA initiatives to develop plastics compounds in lightweight & fuel-efficient cars is likely to augment regional market growth.

Polyethylene terephthalate (PET) is expected to be the fastest growing product segment owing to increasing usage in end-use industries such as packaging and electrical & electronics. Packaging is a dominant application market where PET compounds are utilized in large quantities for the production of bottles, particularly carbonated beverages and nutritional drinks.

Due to a considerable rise in consumerism that is driven by economic growth, favorable credit landscape, and increased disposable income, countries in Latin America have witnessed an exponential rise in manufacturing activities.

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Mexico emerged as the fastest growing market with an estimated CAGR of 7.1% from 2016 to 2024. Increasing number of free trade zones and high per capita income in emerging economies leading to increased spending in automotive and construction industries.

Top Players of Americas Plastic Compounding Market:

Key companies operating in the industry include Kraton Polymers Inc., DuPont, The Dow Chemical Company, RTP Company, SABIC, LyondellBasell Industries N.V., Asahi Kasei Plastics, Kuraray Plastics, Solvay, Kingfa Sci. & Tech. Co. Ltd., Flex Technologies, MRC Polymers, Inc. and Washington Penn Plastics Company.

Market Segmentation of Americas Plastic Compounding Market:

The Americas Plastic Compounding Market segmented on the basis Product, Application and Region.

By Product:

    Polyethylene
    Polypropylene
    Thermoplastic Vulcanizates (TPV)
    Thermoplastic Olefins
    Polyvinyl Chloride (PVC)
    Polystyrene
    Polyethylene Terephthalate (PET)
    Polybutylene Terephthalate (PBT)
    Polyamide
    Polycarbonate
    Acrylonitrile Butadiene Styrene (ABS)

By Application:

    Automotive
    Construction
    Electrical & Electronics
    Packaging
    Consumer Goods
    Industrial Machinery
    Medical Devices
    Optical Media

By Region:

    US
    Canada
    Mexico
    Brazil
    Rest of Americas (RoA)

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