Purging Compound Market ‘to charge past $600mn by 2024’
Apr 9, 2019
North America purging compound market will register a growth rate of over 7.5% during the forecast period owing to large base of plastic processing units in the region.
Selbyville, Delaware, USA - April 9, 2019 /MarketersMedia/ —
Mechanical purging compound market 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 the market growth.
Extrusion process will observe growth over 6.5% up to 2024. Ease of carbon removal and faster color & material changes will propel product demand for this segment. Potential outlook in comprehensive thermoplastics processing including GPPS, PP, PC, PA and ABS will propel purging compound market growth.
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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.
Automotive will generate more than USD 120 million in revenue by 2024. Widespread adoption of lightweight and sustainable plastic materials in the form of equipment, films and fasteners components will propel global purging compound market growth. Numerous automakers are undertaking steps to accommodate increasing senior driver population by including safety features. These safety features include enhanced safety belt designs using plastics and reduced package space.
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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.
North America purging compound market will register a growth rate of over 7.5% during the forecast period owing to large base of plastic processing units in the region. Growing demand for plastics processing equipment will support product penetration.
Global purging compound market share is moderately fragmented with large presence of manufacturers and suppliers. Key industry participants are E. I. Du Pont de Nemours, Chem-Trend LP, Dyna-Purge, VELOX GmbH and Asahi Kasei Corporation. Other prominent players include Dow Chemical, 3M, Purgex, Daicel, Kuraray, RapidPurge, Clariant AG, Formosa Plastics and Magna Purge.
Browse key industry insights spread across 350 pages with 299 market data tables & 12 figures & charts from the report, “Purging Compound Market Size By Process (Extrusion, Injection Molding, Blow Molding), By Product (Mechanical, Chemical / Foaming), By Form (Liquid, Powder, Granules), By End-Use (Automotive, Healthcare, Consumer Goods, Electronics, Packaging, Custom Molding), Industry Analysis Report, Regional Outlook (U.S, Canada, Germany, UK, France, Italy, Spain, Poland, Benelux, China, India, Japan, South Korea, Thailand, Brazil, Mexico, Argentina, Saudi Arabia, UAE, Kuwait, Oman, South Africa), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/purging-compound-market
Table of Contents (ToC) of the report:
Chapter 7. Global Purging Compound Market, By End-Use
7.1. Global market share by end-use, 2016 & 2024
7.2. Automotive
7.2.1. Market estimates and forecast, 2013 - 2024
7.2.2. Market estimates and forecast, by region, 2013–2024
7.3. Healthcare
7.3.1. Market estimates and forecast, 2013 - 2024
7.3.2. Market estimates and forecast, by region, 2013–2024
7.4. Consumer goods
7.4.1. Market estimates and forecast, 2013 - 2024
7.4.2. Market estimates and forecast, by region, 2013–2024
7.5. Electronics
7.5.1. Market estimates and forecast, 2013 - 2024
7.5.2. Market estimates and forecast, by region, 2013–2024
7.6. Packaging
7.6.1. Market estimates and forecast, 2013 - 2024
7.6.2. Market estimates and forecast, by region, 2013–2024
7.7. Custom molding
7.7.1. Market estimates and forecast, 2013 - 2024
7.7.2. Market estimates and forecast, by region, 2013–2024
Browse Full Table of Contents (ToC) @ https://www.gminsights.com/toc/detail/purging-compound-market
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Website: https://www.gminsights.com/pressrelease/purging-compound-market
Source URL: https://marketersmedia.com/purging-compound-market-to-charge-past-600mn-by-2024/500379
Source: MarketersMedia
Release ID: 500379
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