Purging Compound Market Is Projected To Grow Quickly Due To Increasing Demand For Plastic Processing Machinery Till 2025: Grand View Research, Inc.
The
global purging compound market is expected to reach USD
707.9 million by 2025, according to a new report by Grand View Research, Inc.
The growing plastic processing machinery industry in Asia Pacific is
anticipated to be a major driving force triggering market growth.
Injection
molding segment has been observing noteworthy growth in the purging compound
industry. The growing demand for the mass production of various injection
molded parts from end-use industries such as automotive is likely to have a
positive impact on the demand for purging products in the industry.
Fluctuating
raw material prices are predicted to be the major restraints during the
forecast period due to volatility associated with world oil price and
production. In addition, the high prices of purging compound are expected to
restrain the market growth.
Companies
have been adopting various strategies including expansions, acquisitions,
mergers, agreements, and joint ventures. For instance, in September 2017, the
Dow Chemical and DuPont merged to form Dow DuPont in order to enhance their
product offerings and solutions.
U.S.
purging compound market revenue, by process, 2014 - 2025 (USD Million)
Browse full research report on Purging
Compound Market: http://www.grandviewresearch.com/industry-analysis/purging-compound-market
Further key findings from the study
suggest:
- Injection
molding segment is projected to register the fastest CAGR of 6.8%, in
terms of revenue, from 2017 to 2025 on account of high demand for the
product from the plastic processing machinery market
- Extrusion
segment appeared as the major process in 2016 in the U.S. market and is
expected to denote a CAGR of 4.9% over the forecast period, in terms of
revenue, on account of the growing automotive, construction, and packaging
industries
- Mechanical
segment accounted for the major market share of 50.0% in 2016 and is
predicted to witness significant growth from 2017 to 2025. The compounds
are highly effective in the removal of pollutants and safe to use.
- Central
& South America accounted for a market share of 11.1% in 2016 in terms
of revenue. The region is anticipated to witness considerable growth from
2017 to 2025 due to the growing demand from the construction and
automotive industries in Brazil and Argentina.
- The
Asia Pacific purging compound market is likely to expand at the fastest
CAGR, in terms of revenue, over the forecast period owing to the growing
demand for the product from economies including China, Japan, and India
- Competitors
have been implementing various approaches to strengthen their position in
the market. Expansions and acquisitions are the key strategies adopted by
market players over the past years. For instance, Formosa Plastics Corporation
constructed a new polypropylene manufacturing line in the U.S. to increase
its production capacity.
Access
Press Release By Grand View Research: http://www.grandviewresearch.com/press-release/global-purging-compound-market
About
Grand View Research, Inc:
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, the company offers market intelligence
studies ensuring relevant and fact-based research across a range of industries
including technology, chemicals, materials, healthcare and energy.
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