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Purging Compound Market to Procure Substantial Returns from Packaging Sector By 2024

Author : Ronak Bora | Published Date : 2019-08-06 

The packaging sector is one of the most dynamic end-use domains of purging compound market. The robust growth of this business space has led to a spike in the demand for purging compounds in the extrusion processes in the packaging companies, eventually leading to a change of dynamics in purging compound market outlook. Furthermore, this business vertical comprises myriad sub-verticals such as flexible packaging, medical packaging, liquid packaging, and the like, thereby leading to a rapid rise in the requirement for purging products across the global expanse of this domain.

Mechanical purging is anticipated to exceed USD 400 million by 2024. Rising application of high viscosity plastics to eliminate polymer from barrels and screws will support product penetration. Factors such as safety and quality coupled with efficient plastic resin & contamination removal will drive segment demand. Moreover, expansion of manufacturing industries will boost purging compound market growth.

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Granules form demand was more than 6 kilo tons in 2016. Increasing necessity to remove unwanted carbon build up from the plastic extrusion machines will drive product demand. It also serves as cost effective method for treating several chemicals present in granule structure of ultra-high purity purges. In addition, the form is widely utilized for producing specialized cleansing materials, thus boosting global purging compound market. Instable raw material costs due to fluctuating crude oil prices may hamper global purging compound market growth.

Automotive accounted for over 20% industry share in 2016. Increasing government regulation to cut down carbon emissions improve vehicles fuel efficiency driving plastics demand for automotive manufacturing. Rising demand for injection molded plastic parts in automotive industry surged plastic processing machinery applications. Which is further expected to drive the product demand. Rising application of purging compounds in injection molding machine to reduce carbon build-up & minimize total changeover time will drive segment growth.

Asia Pacific will witness a CAGR over 7% up to 2024. The regional growth attributed to rapid industrialization of numerous industries including automotive, construction, food & beverages, chemicals and petrochemicals. Increasing product application scope to reduce machine downtime and expand production efficiency in these industries will stimulate global purging compound market.

Global purging compound market share is moderately fragmented with large presence of manufacturers and suppliers. Key industry participants are E. I. Du Pont de Nemours, Chem-Trend LP, Dyna-Purge, VELOX gmbh and Asahi Kasei Corporation. Other prominent players include Dow Chemical, 3M, Purgex, Daicel, Kuraray, rapidpurge, Clariant AG, Formosa Plastics and Magna Purge.

Glimpse of Table of Content (ToC)

Chapter 3. Global Purging Compound Market Insights

3.1. Purging compound market segmentation

3.2. Purging compound market landscape, 2013 - 2024

3.3. Purging compound market ecosystem analysis

3.3.1.  Distribution channel analysis

3.3.2.    Profit margin trends

3.3.3.  Vendor matrix

3.3.3.1.    Role

3.3.3.2.    Product portfolio

3.3.3.3.    Global presence

3.4. Technology landscape

3.5. Raw material analysis

3.6. Industry best practices & key buying criteria   

3.7. Regulatory landscape

3.7.1.  U.S.

3.7.2.    Europe

3.7.3.    Australia

3.7.4.    China

3.8. Pricing analysis, by region

3.8.1.   North America

3.8.2.   Europe

3.8.3.   Asia Pacific

3.8.4.   Latin America

3.8.5.   MEA

3.8.6.  Cost structure analysis

3.9. Industry impact forces

3.9.1.   Growth drivers, by region

3.9.1.1.    North America

3.9.1.2.    Europe

3.9.1.3.    Asia Pacific

3.9.1.4.    Latin America

3.9.1.5.    MEA

3.9.2.   Industry pitfalls & challenges

3.10.    Innovation & sustainability

3.11.    Growth potential analysis

3.12.    Competitive landscape, 2016

3.12.1. Market share analysis

3.12.2. Key stake holders

3.12.3. Strategy dashboard

3.13.    Porter's analysis

3.14.    PESTEL analysis

Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/purging-compound-market

 

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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