Plastic Compounding Market is Estimated to Witness High Growth Owing to Rapid Industrialization

Plastic compounding is a process of combining various plastic materials together along with additives to form a compound with desired characteristics and properties. These compounds provide enhanced performance, reduced weight, thermal and chemical resistance as well as improved aesthetics compared to virgin plastics. Significant growth of industries such as automotive, construction and packaging has propelled the demand for engineered plastics. Plastic compounds find wide usage in various applications including pipes, panels, cables, consumer goods, medical instruments and automotive parts.
The Global Plastic Compounding Market is estimated to be valued at US$80 billion in 2024 and is expected to exhibit a CAGR of 7.2% over the forecast period 2024-2030.

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