Global Purging Compound Market, By Type (Mechanical Purging, Chemical/Foaming Purging, Liquid Purging), Process (Extrusion, Injection Molding, Blow Molding), Form (Liquid, Powder, Granules), End User (Automotive, Healthcare, Consumer Goods, Polymer and Industrial Machinery, Electronics, Packaging, Construction, Thermoplastic Processing, Custom Molding, Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028.
Purging compound market size is expected to grow at a compound annual growth rate of 5.85% for the forecast period of 2021 to 2028. Data Bridge Market Research report on purging compound market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecasted period while providing their impacts on the market’s growth.
The purging compound is a type of a plastic resin compound, which is used to clean primary plastic machinery such as extruders, hot runner machine and blow molding and injection molding machine. It helps to remove the deposition of the carbon layer and other stains clearly from the machines helps in dropping downtime and improving the quality.
The rise in use of purging compounds in various industries leads to low production cost, decrease in machine downtime and less raw material wastage is expected to influence the growth of the purging compound market. In line with this, the rise in the plastic industry along with increase in the demand for plastic processing machinery are also anticipated to act as key determinants favoring the growth of the purging compound market over the forecast period of 2021 to 2028. Also the, rapid development in automotive, healthcare, electronic, packaging industries and high demand from food and beverages industry are also expected to positively impact the growth of the purging compound market. The major factor accountable for the growth of the market is the reduction in purging cost.
However, the high prices of purging compounds and lack of awareness regarding the benefits offered by purging compounds are likely to act as key restraints towards purging compound market growth rate in the forecast period of 2021 to 2028, whereas the huge cost involved in the production of purging compound can challenge the growth of the purging compound market in the above mentioned forecast period.
Furthermore, the fulfillment of purging compounds with the regulations created by various legal and administrative bodies for direct use with food products and medicines, high demand for the product in the thermoplastic processing industry and rapid technological advancements are expected to offer a variety of growth opportunities for the purging compound market in the above mentioned forecast period.
This purging compound market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on purging compound market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Purging Compound Market Scope and Market Size
Purging compound market is segmented on the basis of type, process, form and end user. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- On the basis of type, the purging compound market is segmented into mechanical purging, chemical/foaming purging and liquid purging.
- Based on process, the purging compound market is segmented into extrusion, injection molding and blow molding.
- On the basis of form, the purging compound market is segmented into liquid, powder and granules.
- The end user segment for purging compound market is segmented into automotive, healthcare, consumer goods, polymer and industrial machinery, electronics, packaging, construction, thermoplastic processing, custom molding and others.
Purging Compound Market Country Level Analysis
Purging compound market is analyzed and market size, volume information is provided by country, type, process, form and end user as referenced above.
The countries covered in the market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America leads the purging compound market because of the high demand for plastic processing machinery to produce various parts and strong presence of numerous processing plants. Asia-Pacific is expected to expand at a significant growth of the over the forecast of 2021 to 2028 due to high demand for injection molding and extruders from various end-use industries.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Purging Compound Market Share Analysis
Purging compound market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to purging compound market.
The major players covered in the purging compound market report are Dow, Formosa Plastics Corporation, Asahi Kasei Corporation, Neutrex, Inc., Shuman Plastics, Inc., Clariant, CALSAK CORPORATION, Chem-Trend L.P., DuPont, KURARAY CO., LTD., RapidPurge, PPM, Slide Products, Inc., Elm Grove Industries, LLC, Ultra System SA, Claude Bamberger Molding Compounds Corp., Sun Plastech, Inc., BASF SE, Novanative Plastix Solutions Private Limited and Daicel Corporation among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.