The Global Plastic Compounding Market is expected to grow with a CAGR of 4.8% in the forecast period of 2022 to 2029. The years considered for the study are as mentioned below.

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The global plastic compounding market is a highly consolidated market, which includes a specific number of key players as well as local players. The market has witnessed increased strategic developments owing to a favorable market scenario.

The major players dealing in the global plastic compounding market are introducing a strong range of product portfolios. This helped companies to maximize sales with an enhanced product portfolio.

For instance,

• In May 2022, BASF SE launched its Ultradur B4335G3 HR HSP, an all-rounder for reliable protection. The PBT in this material offers a unique combination of different properties such as outstanding hydrolysis resistance and good flow ability and ensures safety for sensitive electronics in extremely challenging environments

Dow is the dominating player in the global plastic compounding market. Some of the major players engaged in the market are DuPont, BASF SE, Dow, Arkema, KURARAY CO., LTD., Adell Plastic Inc., Asahi Kasei Corporation, RTP Company, Ravago, LyondellBasell Industries Holdings B.V (A Subsidiary of LyondellBasell), KRATON CORPORATION (A Subsidiary of DL Chemical Co., Ltd.), PolyVisions, Akro-Plastic GmbH, Aurora Plastics LLC, Exxon Mobil Corporation, DSM, SABIC, Sojitz Corporation, Celanese Corporation, HEXPOL AB, Covestro AG, LG Chem, Eni, LANXESS, INEOS, among others.

Dow

Dow is headquartered in Michigan, U.S. It has public ownership and was founded in 1897. The company is engaged in sustaining the world's future through materials science expertise and collaboration. The company has several business segments, which are Packaging & Specialty Plastics, Industrial Intermediates & Infrastructure and Performance Materials & Coatings, out of which Packaging & Specialty Plastics is the market-focused segment. The company has several product categories, which are Additives and Modifiers, Adhesives and Sealants, Amines and Chelates, Conductive Materials, Elastomers and Plastomers, Emulsions, Fluids, Blends and Dispersions, Foam Control Agents, Gels, Encapsulates and Conformal, Polyurethanes Coatings, Intermediates and Feedstocks, Lubricants, Heat Transfer and Deicing Fluids, Monomers, Optical Materials, Plastic Additives, Polyethylene, Release Coatings and Agents, Resins, Binders and Film Formers, Silicones, Silicone-Organic, Hybrids and Silanes, Solvents and Glycols, Specialty Polymers and Compounds, Surfactants, Emulsifiers and Polyglycols, Waxes and Powders out of which Specialty Polymers and Compounds are the market-focused categories.

• In April 2022, DOW received eight awards in the 2022 Edison Awards, of which two are gold, four silvers, and two bronzes. Over the past ten years, DOW has earned more total Edison Awards than any other company operating in the same market. Honoring an Edison Award is one of a company's highest achievements in innovation and business success. This has enhanced the company's image in the market

The company has a wide global presence across North America, South America, Europe, Asia-Pacific, Middle East and Africa. The company has subsidiaries which are Rohm and Haas (U.S.), Dow Global Technologies Inc (U.S.), ANGUS Chemical Company (U.S.), Mycogen Seeds (U.S.), Americas Styrenics LLC (U.S.), among others.

BASF SE

BASF SE is headquartered in Ludwigshafen, Germany, as public ownership and was founded in 1865. The company is engaged in various business strategies to adapt to the needs of individual industries and markets. The company has business segments such as Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care, Agriculture Solutions, out of which Industrial Solution is the market-focused segment. The company has product categories which are Agriculture, Automotive & Transportation, Chemicals, Coatings Solutions, Construction, Electronics & Electric, Energy & Resources, Furniture & Wood, Home Care and I&I Cleaning, Nutrition, Packaging & Print, Paints & Coatings, Personal Care & Hygiene, Pharmaceuticals, Plastics & Rubber, Product Finder, Pulp & Paper, Textile, Leather & Footwear out of which Plastics & Rubber is the market-focused category.

• In May 2022, BASF SE expanded its brand portfolio with the launch of Ultramid A3U44G6 DC OR (PA66 - GF30 FR). This product is a flame-retardant engineering plastic for the eMobility market with high technical requirements from the industry on PA66

The company has a wide global presence across North America, South America, Europe, Asia-Pacific, Middle East and Africa. The company has subsidiaries which are Wintershall (Germany), BASF Coatings GmbH (Germany), Nunhems B.V. (Netherland), Chemetall GmbH (Germany), and Cognis (Germany), among others.

LyondellBasell Industries Holdings B.V (A Subsidiary of LyondellBasell)

LyondellBasell Industries Holdings B.V (A Subsidiary of LyondellBasell) was founded in 2007 and is headquartered in Rotterdam, Netherlands. It has private ownership. The company is engaged in manufacturing products, materials, and technologies for advancing sustainable solutions for food safety, access to clean water, and healthcare and fuel efficiency. The company has several product categories, which are Chemicals, Polymers, Advanced Polymer Solutions, Fuels, Technology, Quality System, Product Safety & Stewardship, and Technology Centers, out of which Polymers is the market-focused category.

• In April 2022, LyondellBasell Industries Holdings B.V. announced its decision to cease operation of its Houston Refinery by December 31, 2023. In the interim, the company will continue serving the fuels market, which is expected to remain strong soon, and consider potential transactions and alternatives for the site. This will allow the company to focus more actively on its other business segments

The company has a wide global presence across North America, South America, Europe, Asia-Pacific, Middle East and Africa.