North American Plastic Compounding Market size is expected to reach USD 23.38 billion by 2026, according to a latest forecast report by Graphical Research.
The growing demand for advanced engineered plastics from the construction sector will drive the North America plastic compounding market growth. The construction industry is one of the key sectors that utilizes a wide range of plastics and polymer composites. Several construction applications, such as window & door profiles, glazing, roofing, pipes & guttering, building panels, sealants & adhesives, cement, etc., are using plastic compounding. The rising demand for high-performance plastics in flooring, safety windows, roofing, insulation materials, storage tanks, pipes, cables, etc., is further expected to offer lucrative opportunities for industry expansion. The growing end-user demand for minimal maintenance, economic products along with lightweight and high strength materials are driving plastic consumption in construction applications.
The proliferating automotive production in the region along with the establishment of new automobile facilities will support the product expansion over the forecast timeframe. The automotive industry is using a wide range of plastic materials owing to several benefits offered by these products such as easy mouldability, superior impact strength, enhanced aesthetics, recyclability, and scratch resistance, among others. On an average, a passenger car consists of around 10% - 15% of overall weight as plastics. Further, stringent emission norms are driving the usage of plastic to minimize the overall vehicle weight and enhance fuel efficiency.
Plastic compounding offers a wide range of benefits to users including economic products, enhances performance, strength, and provides suitable color solutions. Aesthetics and color have high impact on the selection of household consumer goods. Further, the enhanced aesthetics of materials enabled manufacturers to offer high finish products to several end-user industries. The development of new grades that are used in 3D printing and medical application will further offer several opportunities for industry expansion in the near future.
Browse detailed statistical insights from the report, “North America Plastic Compounding Market Forecast 2027 By Product (Thermoplastic Polymers [Polyethylene, Polypropylene, Polyester, Polycarbonate, Polyethylene Terephthalate, Polyvinyl Chloride, Acrylonitrile Butadiene Styrene, Polybutylene Terephthalate, Poly(methyl methacrylate), Polyoxymethylene], Thermosetting Polymers [Polyurethane Resin, Epoxy Resin], Thermoplastic Elastomers [Polyamides, Polyurethanes, SBC]), By Industry (Consumer Goods, Electrical & Electronics, Construction, Automotive, Aerospace), Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
Innovation in bio-based plastic is expected to drive the market growth owing to rising awareness about the adverse impact of plastic waste on the environment. The bioplastics are made from plant-derived materials and their adoption will help to curb the use of petroleum resources and reduce carbon dioxide. The material can be dyed and emissions of Volatile Organic Compounds (VOCs) associated with the painting process can be reduced. Several automobiles manufacturers, such as Toyota, Mazda, etc., are engaged in development of new bioplastic grades.
Based on product, the North America plastic compounding market has been classified into thermoplastic polymers, thermosetting polymers, thermoplastic elastomers, and others. The thermosetting polymers segment is expected to generate around USD 1.31 billion revenue by 2026. Thermosetting polymers, such as polyurethane resin and epoxy resins, are widely used in paints & coatings, adhesives, industrial tools, and others. Polyurethanes are mainly used for manufacturing insulating foams, car parts, mattresses, coatings, print rollers, shoe soles, adhesives, flooring, and synthetic fibers. Proliferating paints & coatings and adhesives sectors will drive the product demand over the forecast timeframe.
Based on industry, the electrical & electronics industry holds nearly 11% volumetric shares in the plastic compounding market. The electronics market is using a wide range of plastics in the products owing to easy moldability, lighter weight, flame retardant, and others. Further, electrical and electronics products are becoming more compactable, smaller, and lightweight, thereby supporting product demand over the forecast timeframe. PE and Polyvinyl Chloride (PVC) will be the leading polymers used in the sector during the forecast period.
The Canada plastic compounding market showcases a considerable growth rate. The proliferating infrastructure development and automobile sectors in the country are expected to drive the market growth. The strong investment by the Canadian government in several infrastructure projects is supporting product consumption. For instance, in Q1 2021, the Canadian government announced investment of around USD 4.05 billion for 5 projects. Additionally, the growing demand for plastic from sports and medical industries in the country is supporting market growth.
The North American plastic compounding market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilotons & revenue in USD Million from 2016 to 2027 for the following segments:
North America Market, By Product
- Thermoplastic Polymer
- Polyethylene Terephthalate
- Polyvinyl Chloride
- Acrylonitrile Butadiene Styrene
- Polybutylene Terephthalate
- Poly(Methyl Methacrylate)
- Thermosetting Polymer
- Polyurethane resin
- Epoxy resin
- Thermoplastic Elastomer
North America Market, By End-user
- Consumer Goods
- Electrical & Electronics
The above information has been provided for the following countries: