Plastic Compounding Market 2023 | Rising Growth Business Analysis And 2033 Forecast Study
The Global Plastic Compounding Market size is expected to reach a value of USD 72.3 billion in 2023 and is anticipated to grow with a compounded annual growth rate of 8.3% for the forecasted period (2023-2032).
Plastic Compounding Market Growth Analysis
With the increasing use of plastic in several places, the demand for customized plastic is rising nowadays. Mixing of various additives in molten state such as anti-oxidants, UV stabilizers, & other agents for adding value to the plastics. Various blending mixtures added, provide various properties to plastic. These customizations of plastics are referred to as compounding of plastic. Compounding plastics is a complicated process with several steps, like fixing additive ratio, high-speed mixing with the help of twin screw extruders, melt mixing, & then cooling, and after that pellet cutting & packaging are done.
