The North America Plastic Compounding Market would witness market growth of 6.8% CAGR during the forecast period (2024-2031). In the year 2020, the North America market's volume surged to 4,427.3 kilo tonnes, showcasing a growth of 23.2% (2020-2023).
Plastic compounds play a vital role in the building and construction industry, offering a wide range of advantages and applications. One of the primary uses of plastic compounds in this sector is in structural components, such as pipes, fittings, profiles, and panels. Thus, the Canada market utilized 455.6 kilo tonnes of plastic compounds in the market 2020.
The US market dominated the North America Plastic Compounding Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $18,371.1 million by 2031. The Canada market is experiencing a CAGR of 9.2% during (2024 - 2031). Additionally, The Mexico market would experience a CAGR of 8.3% during (2024 - 2031).
The versatility and flexibility offered by compounded plastics make them well-suited for various applications, from structural components in automotive vehicles to food packaging materials and medical devices.
Moreover, in the automotive industry, compounded plastics are used in interior and exterior components, under-the-hood parts, and lightweight structural elements to improve fuel efficiency and vehicle performance while reducing emissions.
The automotive industry in Mexico, like elsewhere, is increasingly focused on lightweighting initiatives to improve fuel efficiency, reduce emissions, and enhance vehicle performance. It offers significant weight savings compared to traditional materials such as metal, contributing to the overall lightweight goals of automakers.
Based on Product, the market is segmented into Polypropylene (PP), Polyethylene (PE), Polyvinyl Chloride (PVC), Polystyrene (PS), Polyethylene Terephthalate (PET), Polycarbonate (PC), Polyurethane (PU), Polymethyl Methacrylate (PMMA), Acrylonitrile Butadiene Styrene (ABS) and Others. Based on Source, the market is segmented into Fossil-based, Bio-based and recycled. Based on Application, the market is segmented into Automotive, Building & Construction, Electrical & Electronics, Packaging, Consumer goods, Industrial Machinery, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Plastic compounds play a vital role in the building and construction industry, offering a wide range of advantages and applications. One of the primary uses of plastic compounds in this sector is in structural components, such as pipes, fittings, profiles, and panels. Thus, the Canada market utilized 455.6 kilo tonnes of plastic compounds in the market 2020.
The US market dominated the North America Plastic Compounding Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $18,371.1 million by 2031. The Canada market is experiencing a CAGR of 9.2% during (2024 - 2031). Additionally, The Mexico market would experience a CAGR of 8.3% during (2024 - 2031).
The versatility and flexibility offered by compounded plastics make them well-suited for various applications, from structural components in automotive vehicles to food packaging materials and medical devices.
Moreover, in the automotive industry, compounded plastics are used in interior and exterior components, under-the-hood parts, and lightweight structural elements to improve fuel efficiency and vehicle performance while reducing emissions.
The automotive industry in Mexico, like elsewhere, is increasingly focused on lightweighting initiatives to improve fuel efficiency, reduce emissions, and enhance vehicle performance. It offers significant weight savings compared to traditional materials such as metal, contributing to the overall lightweight goals of automakers.
Based on Product, the market is segmented into Polypropylene (PP), Polyethylene (PE), Polyvinyl Chloride (PVC), Polystyrene (PS), Polyethylene Terephthalate (PET), Polycarbonate (PC), Polyurethane (PU), Polymethyl Methacrylate (PMMA), Acrylonitrile Butadiene Styrene (ABS) and Others. Based on Source, the market is segmented into Fossil-based, Bio-based and recycled. Based on Application, the market is segmented into Automotive, Building & Construction, Electrical & Electronics, Packaging, Consumer goods, Industrial Machinery, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
List of Key Companies Profiled
- BASF SE
- Saudi Basic Industries Corporation (SABIC)
- Kraton Corporation
- LyondellBasell Industries Holdings B.V.
- DuPont de Nemours, Inc.
- RTP Company, Inc.
- Lanxess AG
- Covestro AG
- Arkema S.A.
- Chevron Phillips Chemical Company LLC
Market Report Segmentation
By Product (Volume, Kilo Tonnes, USD billion, 2020-2031)- Polypropylene (PP)
- Polyethylene (PE)
- Polyvinyl Chloride (PVC)
- Polystyrene (PS)
- Polyethylene Terephthalate (PET)
- Polycarbonate (PC)
- Polyurethane (PU)
- Polymethyl Methacrylate (PMMA)
- Acrylonitrile Butadiene Styrene (ABS)
- Others
- Fossil-based
- Bio-based
- Recycled
- Automotive
- Building & Construction
- Electrical & Electronics
- Packaging
- Consumer goods
- Industrial Machinery
- Others
- US
- Canada
- Mexico
- Rest of North America
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. North America Plastic Compounding Market by Product
Chapter 6. North America Plastic Compounding Market by Source
Chapter 7. North America Plastic Compounding Market by Application
Chapter 8. North America Plastic Compounding Market by Country
Chapter 9. Company Profiles
Companies Mentioned
- BASF SE
- Saudi Basic Industries Corporation (SABIC)
- Kraton Corporation
- LyondellBasell Industries Holdings B.V.
- DuPont de Nemours, Inc.
- RTP Company, Inc.
- Lanxess AG
- Covestro AG
- Arkema S.A.
- Chevron Phillips Chemical Company LLC
Methodology
LOADING...
