Global Purging Compound Market By Type (Mechanical, Chemical, Liquid), Process (Extrusion, Injection Molding, Blow Molding), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)– Industry Trends and Forecast to 2026
Market Analysis: Global Purging Compound Market
Global purging compound market is expected to rise to an estimated value of USD 736.8 million by 2026, registering a substantial CAGR in the forecast period of 2019-2026. The rise in the market value can be attributed to the growing plastic industry, reduction in purging cost and increasing demand for plastic processing machinery.
Market Definition: Global Purging Compound Market
Purging compounds are those products that are developed for cleaning primary plastic machinery such as thermoplastics molding machines and extruders. It improves the quality of the product and helps in reducing the machine downtime. The usage of purging compounds is majorly seen in polyolefins such as thermoplastic olefin, polypropylene, polyethelyne and in high temperature resins such as polysulfones, ketone and others.
- Increasing demand for cost effective scrap removal solutions; this factor will act as a driver for the market in the forecast period
- Increasing demand from the plastic industry will also drive the market in near future
- Increasing demand for cost effective scrap removal solutions; this factor will also propel the market
- High usage of purging compounds from its end-users will also help the market to grow in future
- High prices of purging compounds; this factor will hamper the market to grow in the forecast period
- Lack of awareness about the benefits offered by purging compounds in emerging economies, will also act as a restraint for the market growth
Segmentation: Global Purging Compound Market
· By Type
· By Process
o Injection Molding
o Blow Molding
· By Geography
- · North America
- · South America
o Rest of South America
- · Europe
o United Kingdom
o Rest of Europe
- · Asia-Pacific
o South Korea
o Rest of Asia-Pacific
- · Middle East and Africa
o South Africa
o Saudi Arabia
o United Arab Emirates
o Rest of Middle East and Africa
Key Developments in the Market:
- · In October 2018, Sun Plastech, a manufacturer of purging compounds, has announced that their R&D operation has been increased by the acquisition of Novachem. It acquisition has added a family of chemical purging agents to their existing mechanical purging compounds. Such growth will help the company to penetrate more into the market
- · In March 2018, ASACLEAN, showcased new range of N Series of Chemical Purging Compounds at NPE 2018. The products that were displayed in the trade show were NCR Grade (formerly Supernova Regular), NCT Grade (formerly Supernova HT), NCF Grade (formerly Supernova FD) and NCH Grade (formerly Hybrid 400). Such shows will help the company to build a name in the market
Global purging compound market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of purging compound market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors:
Few of the major competitors currently working in the purging compound market are Asahi Kasei Corporation, Neutrex, Inc., Shuman Plastics, Inc., Clariant, Formosa Plastics Corporation, CALSAK CORPORATION, Chem‑Trend L.P., 3M, VELOX, DuPont de Nemours, Inc., KURARAY CO., LTD., Reedy Chemical Foam & Specialty Additives, Daicel Corporation and many more.
Research Methodology: Global Purging Compound Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- · Complete and distinct analysis of the market drivers and restraints
- · Key market players involved in this industry
- · Detailed analysis of the market segmentation
- · Competitive analysis of the key players involved