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Technavio has published a new market research report on the global compounded resins market from 2018-2022. (Photo: Business Wire)
A major factor driving the growth of the market is the increasing demand for plastic materials in the automotive industry. The automotive industry is a prominent end-user of compounded resins. The extensive use of plastic materials in the automotive industry is a prime driver of the global compounded resins market. In the automotive industry, plastic materials are used to substitute metal components to achieve vehicle lightweighting goals.
Technavio’s latest report on the provides an analysis of the prominent trends anticipated to impact the market outlook during the forecast period. Technavio predicts an emerging trend as a major factor that has the potential to substantially impact the market and contribute to its growth or decline.
Increasing production capacities and installation of new compounding plants
The increasing demand from end-user industries, particularly automotive, has propelled market vendors to start new production or expand their existing production line for meeting the increasing demand of compounded resins.
“The demand for plastic materials such as compounded resins has been growing in the automotive industry. This is because these materials help in reducing the weight of the vehicles and promote cost saving. With the increasing vehicle production, the demand for compounded resins will further increase during the forecast period,” says a senior analyst at Technavio for research on .
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Americas tops the compounded resins market
This market research report segments the global market into the following products (thermoplastic polymers, thermosetting polymers, and elastomers), end-users (automotive and aerospace, household goods, construction and infrastructure, and electrical and electronics), and key regions (the Americas, APAC, and EMEA).
The thermoplastic polymers segment held the largest market share in 2017, accounting for nearly 59% of the market. This product is anticipated dominate the global market throughout the period 2018-2022.
The Americas held the highest share of the global compounded resins market in 2017, accounting for a market share of around 42%. This region is expected to witness the fastest growth during the forecast period.
is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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CONTACT: Technavio Research
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INDUSTRY KEYWORD: MANUFACTURING CHEMICALS/PLASTICS
SOURCE: Technavio Research
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PUB: 05/25/2018 10:18 AM/DISC: 05/25/2018 10:18 AM