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Purging Compound Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023-2028)

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  • 120 Pages
  • April 2023
  • Region: Global
  • Mordor Intelligence
  • ID: 5025919
During the time frame of the forecast, the market is expected to grow at a CAGR of over 6%.

The COVID-19 pandemic reduced demand for purging compounds in the automobile and aerospace industries, which were severely impacted. The pandemic disrupted supply networks, lowered demand for automobiles and aircraft, and shut down many production facilities, slowing compound purging. However, in 2021, the global economy rebounded and manufacturing began, increasing the need for purging chemicals as businesses attempted to rebuild their production capacity.

Key Highlights

  • In the future, the market may be able to take advantage of the growing demand for purging compounds as cleaning chemicals in industrial machines.
  • Volatile prices of purging compounds are expected to hinder the growth of the market studied.
  • During the forecast period, there is likely to be a rise in the use of purging compounds in thermoplastic processing.
  • The Asia-Pacific region is expected to dominate the market, with the largest consumption coming from countries such as China and India.

Purging Compound Market Trends

Increasing Demand of Purging Compound from Thermoplastic Processing Industry in Global Market

  • A commercial purging compound is a product specifically manufactured to clean thermoplastic molding machines and extruders. It usually has a base resin and other substances added to it that are meant to clean the screw, barrel, and extruder die.
  • The utilization of purging compounds has become a necessary piece of thermoplastics processing in the growing competitive environment. Efficient production and a decrease in cost are significant standards for plastics processors.
  • In the assembly of electric vehicles (EVs), thermoplastic processing techniques like injection molding are often used to make a wide range of parts and components, such as battery housing, interior trim, and exterior body pieces.
  • Thermoplastics are ideal for use in the assembly of EVs because of their low weight, high strength, and long service life. They're easy to process and can be shaped into intricate designs, both of which cut down on production time and cost. Sales of battery electric vehicles reached 4.5 million units in 2021, up 135% from 2020, according to the International Energy Agency.
  • The thermoplastics market is expected to register substantial growth during the forecast period. The demand is increasing capacity in downstream processing and applications in the automotive industry.
  • The application of purging compounds from the thermoplastic industry is expected to dominate during the forecast period due to the aforementioned factors.

Asia-Pacific Region to Dominate the Market

  • The Asia-Pacific region is expected to dominate the global market, owing to the increasing demand from developing nations, including China and India. The region is a manufacturing hub for polymers and thermoplastics. This factor is a propelling factor for the increasing demand for purging compounds in the region.
  • The largest producers of purging compounds are based in the Asia-Pacific region. Some of the leading companies in the production of purging compounds are Calsak Corporation, RapidPurge, 3M, Kuraray Co. Ltd., and Dyna-Purge, among others.
  • The rapid industrialization in the Asia-Pacific region is contributing to the expansion of several industries, including the food and beverage, construction, automotive, petrochemical, and chemical industries. These industries are gradually implementing composites to reduce downtime and increase manufacturing efficiency.
  • China, Japan, and India are the biggest players in this area because the plastics processing industry uses and needs a lot of purging compounds.
  • Many automobile plastic components are manufactured with the help of purging chemicals. According to the International Organization of Motor Vehicle Manufacturers, China produced over 26 million automobiles in 2021, an increase of 3% from the previous year, making it the world's largest automotive producer.
  • According to the India Brand Equity Foundation, India's exports of plastic and linoleum products reached USD 9.8 billion in 2021. This is a 30% increase over the previous year's exports.
  • Due to the above reasons, the market for purging compounds is expected to grow in the Asia-Pacific region during the study period.

Purging Compound Market Competitor Analysis

The global purging compound market is partially consolidated, with only a few major players dominating the market. Some of the major companies are Calsak Corporation, RapidPurge, 3M Company, Kuraray Co. Ltd., and Dyna-Purge, among others.

Additional benefits of purchasing the report:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support

This product will be delivered within 2 business days.

Table of Contents

1.1 Study Assumptions
1.2 Scope of the Study



4.1 Drivers
4.1.1 Increasing Demand of Purging Compound from Thermoplastic Industry in Global Market
4.1.2 Growing Demand as Effective Removal Solutions to Control Corrosion in Chemical Industry
4.1.3 Other Drivers
4.2 Restraints
4.2.1 Volatile Prices of Purging Compounds
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Degree of Competition
4.5 Raw Material Analysis

5.1 Type
5.1.1 Mechanical Purge
5.1.2 Chemical Purge
5.1.3 Liquid Purge
5.2 Process
5.2.1 Injection Molding
5.2.2 Extrusion
5.2.3 Blow Molding
5.2.4 Other Processes
5.3 Application
5.3.1 Automotive
5.3.2 Construction
5.3.3 Industrial machinery
5.3.4 Polymers
5.3.5 Thermoplastic Processing
5.3.6 Other Applications
5.4 Geography
5.4.1 Asia-Pacific China India Japan South Korea Rest of Asia-Pacific
5.4.2 North America United States Canada Mexico
5.4.3 Europe Germany United Kingdom France Italy Rest of Europe
5.4.4 South America Brazil Argentina Rest of South America
5.4.5 Middle-East and Africa Saudi Arabia South Africa Rest of Middle-East and Africa

6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Dow Chemical Company
6.4.2 Kuraray Co. Ltd
6.4.3 3M Company
6.4.4 BASF SE
6.4.5 RapidPurge
6.4.6 Daicel Corporation
6.4.7 VELOX GmbH (IMCD Group)
6.4.8 Calsak Corporation
6.4.9 ChemTrend LP
6.4.10 Dyna-Purge
6.4.11 Formosa Plastics Corporation
6.4.12 Ultra System SA
6.4.13 Purge Right
6.4.14 Clariant AG

7.1 Growing Demand of Cleaning Chemicals in Industrial Machines
7.2 Other Opportunities

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Dow Chemical Company
  • Kuraray Co. Ltd
  • 3M Company
  • RapidPurge
  • Daicel Corporation
  • VELOX GmbH (IMCD Group)
  • Calsak Corporation
  • ChemTrend LP
  • Dyna-Purge
  • Formosa Plastics Corporation
  • Ultra System SA
  • Purge Right
  • Clariant AG