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Purging Compound Market to accrue hefty returns via packaging applications up to 2024

Author : Rahul Sankrityayan | Published Date : 2019-11-11 

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 industry 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.

The dire need to make purging highly efficient and less expensive has been one of principal catalysts for purging compound market growth in recent years. In a bid to reinforce efficiency and reduce purging costs, companies partaking in purging compound industry share have been making continuous attempts to innovate unique compounds that can be used for myriad end-use arenas such as those of custom molding, packaging, automotive, electronics, healthcare, and consumer goods. Last year for instance, the Dyna-Purge Division of Shuman Plastics Inc.

Browse key industry insights spread across 350 pages with 299 market data tables & 12 figures & charts from the report, “Purging Compound Market” in detail along with the table of contents @ https://www.gminsights.com/pressrelease/purging-compound-market

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.

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 industry 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.

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Speaking of which, it is noteworthy to mention that extrusion is one of the most pivotal processes in purging compound industry. Given that it conveniently helps to differentiate plastics from various substrates for equipment cleaning, the process is widely deployed across numerous end-use domains. As per estimates in fact, purging compound market size from the extrusion process is forecast to register a CAGR of 7% over 2017-2024. Driven by its excellent benefits such as ease in carbon elimination, faster color changes, and more, and the rapid expansion of the packaging sector, purging compound market share from the extrusion process is expected to accumulate substantial gains over the years ahead.

Table Of Content For This Research Report:

Chapter 4. Global Purging Compound Market, By Process

4.1. Global purging compound industry share by process, 2016 & 2024

4.2. Extrusion

4.2.1.    Market estimates and forecast, 2013 - 2024

4.2.2.    Market estimates and forecast, by region, 2013–2024

4.3. Injection molding

4.3.1.    Market estimates and forecast, 2013 - 2024

4.3.2.    Market estimates and forecast, by region, 2013–2024

4.4. Blow molding

4.4.1.    Market estimates and forecast, 2013 - 2024

4.4.2.    Market estimates and forecast, by region, 2013–2024

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

About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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