Plastic Compounding Market Is Expected To Grow At A Compound Annual Growth Rate (CAGR) Of 5.5% Over The Forecast Period
Plastic Compounding Industry Overview The global plastic compounding market size was valued at USD 61.4 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 5.5% over the forecast period. Increasing substitution for glass, metals, wood, natural rubber, and man-made materials, such as concrete, is anticipated to drive the growth. The demand for plastic is rising owing to its various industrial applications due to benefits, such as easy molding and the ability to form the desired shape. Plastic compounding involves an elaborate process with various stages, such as determining additives ratio, high-speed mixing via twin-screw extruders, melt mixing, and cooling, before final pellet cutting and packaging. There is a diverse range of products available, depending on the additives and fillers integrated while processing the polymers. These include antioxidants, processing aids, colorants, wear-resistant, blowing agents, lubricants, fil...