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Purging Compounds Market By Type (Mechanical Purging, Chemical/Foaming Purging, Liquid Purging), By Process (Extrusion, Injection Molding, Blow Molding) - Growth, Future Prospects, Competitive Analysis And Forecast 2016 - 2028

About this report

The Global Purging Compounds Market report explores the critical analysis of the Purging Compounds industry using key parameters. The report consists of investment strategies, the need for investments in the Purging Compounds industry, and the multiple benefits for the investors. Importantly, this report sets out major changes in the global technical regulations for the Purging Compounds industry, as well as how economic and non-economic barriers are helping the Purging Compounds market. Moreover, the report analyses the global, regional, and country-level historic and forecasted market size. The report also provides a comprehensive analysis of key investment propositions, demand and supply gap, competitors positioning, STAR analysis, SRC analysis, and Tornado analysis. Key technological developments and other analyses such as porter's five forces analysis, PESTEL analysis, value chain analysis, etc.

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Key Highlights of the report

How are the major segments performing in the Purging Compounds Market?

In 2021, mechanical purging will be the leading segment based on the type because of advantages such as efficacy in eliminating contaminants compared to an unfilled polymer.

In 2021, the injection molding segment will lead the market because of its higher production rate and capacity to make plastic components in numerous colors.

Which region dominated the Purging Compounds Market?

In 2021, North America was one of the major contributors to the global purging compound market because of the growing demand for purging compounds in this region's plastic processing equipment industry. The increased demand for these chemicals from North American countries contributes to the expansion. The rising demand for purge compounds for their remarkable qualities from the region's end-use industries is expected to fuel the North American market. The region's highest share is due to significant demand from processing factories in the United States, which pushed the region's high share.

What is the competitive environment of the Purging Compounds Market?

The purging compound market is highly competitive, with many producers and distributors operating globally. Mergers and acquisitions, new product releases, joint ventures, innovation, and technology progress partnerships are some of the growth methods used by these firms to increase their market position. For instance, in October 2021, Dow announced significant improvements in the supply of recycled plastic products to customers. The advancements would enable the corporation to offer clients completely circular polymers in 2022. These efforts are intended to make recycling previously unrecyclable polymers easier, such as flexible plastics used in packaging, which are frequently burned or disposed of in landfills. Similarly, Products That Slide, a well-known US-based manufacturer of plastic processing aids, developed a high-temperature purging component in April 2021. This purging agent targets engineer-grade resins such as polyphenylene sulfide, PEEK, PET, polyetherimide, and liquid crystal polymer.

Executive Summary

How has the market been affected by the rise in demand for purging compounds in the thermoplastic processing industry?

A particular plastic resin compound called a purging compound is used to clean main plastic machinery such as extruders, hot runners, blow molding machines, and injection molding machines. It decreases downtime and enhances quality by removing the carbon layer and other stains deposited on the equipment. A substance made specifically for cleaning thermoplastics, molding equipment, and extruders is known as a commercial purge compound. It often includes a base resin and several additives to clean the screw, barrel, and extruder die. The market for thermoplastics is anticipated to increase significantly throughout the anticipated period. Due to their increased benefit-to-cost ratio, low manufacturing costs, chemical resistance, impact resistance, smooth finish, and recyclable nature, thermoplastics had a global market value of USD 20 billion in 2020. The capacity of downstream processing and applications is growing in response to the demand in the automobile sector. Due to the abovementioned aspects, the application of purging compounds from the thermoplastic sector is anticipated to predominate during the forecast period.

Which are the key investments by the players in the Purging Compounds Industry?

Several major corporations are making significant investments. Manufacturers concentrate on upgrading and inventing novel products in response to consumer demands. The Global Purging Compound Market also features the leading competitors' competitive advancements, investments, strategic growth, and competitive landscape. . In January 2013, VELOX GmbH established a joint venture, VELOX China Ltd., with its Chinese partner Shanghai Brightfield Co. Ltd.

Some of the major players in the market are Formosa Plastics Corporation, Sun Plastech, Inc., Chem-Trend L.P., DOW Chemical, DuPont, and Daicel Corporation operate the business through a wide network across the globe

What are the Major Driving Factors for the Purging Compounds Market?

The increased use of purging compounds in various sectors leads to lower production costs, less machine downtime, and less raw material waste, which is projected to affect the purging compound market's growth. In line with this, the expansion of the plastic industry and the increased demand for plastic processing machinery are expected to be key determinants favoring the growth of the purging compound market during the forecast period. Additionally, fast development in the automotive, pharmaceutical, electronic, and packaging industries and increased demand from the food and beverage industries are likely to benefit the purging compound market positively. The reduction in purging costs is the primary reason responsible for market expansion.

What are the Major Risks for the Purging Compounds Market?

While the enormous cost associated with producing purging compounds can threaten the market's expansion during the forecast mentioned above, the high prices of purging compounds and a lack of awareness regarding the advantages offered by purging compounds are likely to act as key restraints. The lack of knowledge about purifying communities in underdeveloped economies is another significant barrier.

Which is the Key Application in the Purging Compounds Market?

In 2021, the mechanical purging category dominated the market. Mechanical purging compounds are simple to utilize. Materials that do not require soaking. They are more efficient and use fewer resources. Furthermore, they perform better under high screw pressure and back pressure. Cleaning plastic production machinery requires the use of mechanical purging agents. These chemicals aid in the removal of polymer residue by mechanically scrubbing impurities from barrels and screws using abrasives or high-viscosity polymers. The mechanical thermoplastic purging mixture includes a carrier resin and scouring grains that are soft on the outside but solid on the inside; they clean metal surfaces safely and effectively without wearing down the machine.

How is the Purging Compounds Market performing in regions?

In 2021, the global purging compounds market was dominated by North America due to the growing demand for purge compounds in this region's plastic processing equipment industry. Rising demand for purge compounds due to their exceptional properties from the region's end-use industries is likely to drive the North American market. The region's high share is owing to substantial demand from U.S. processing plants, which has increased the region's high share. The extensive presence of demand-generating industries in this region, such as automotive, construction, polymer manufacturing, and others, accounts for market expansion.

Besides, the Asia Pacific is expected to grow significantly over the forecast period because of rising demand from developing economies such as India. The region is a polymer and thermoplastics production center. This is a driving force behind the region's rising demand for purging compounds. The Asia-Pacific region is home to the majority of purging compound manufacturers. Calsak Corporation, RapidPurge, 3M, Kuraray Co. Ltd., and Dyna-Purge are among the leading manufacturers of purging compounds. The Asia-Pacific region's fast industrialization is boosting the growth of various industries, including food and beverage, construction, automotive, petrochemicals, and chemicals.

What is the regulatory landscape for the Purging Compounds Market?

The compliance of purging compounds with various legal and administrative bodies' regulations for direct use with food products and medicines, high demand for the product in the thermoplastic processing industry, and rapid technological advancements are expected to provide a variety of growth opportunities for the purging compound market.

What is the Market Size of Purging Compounds regarding value?

The Purging Compounds Market is anticipated to grow at a substantial CAGR of 5.10% in the upcoming years. The Global Purging Compounds industry was estimated to be worth USD 538.2 million in 2021 and was expected to be worth USD 725.37 million by 2028.

What effect does COVID-19 have on the market for Purging Compounds?

COVID-19 had a detrimental effect on the market for purging compounds worldwide. Due to the closure of numerous end-user industries over the period, including the plastics and automobile industries, demand fell quickly. When some industrial units started operating, there was a lack of materials due to the closure of manufacturing facilities to stop the virus' spread. The supply chain was disrupted due to the travel and goods movement restrictions that slowed market expansion. However, the second quarter saw only modest growth due to demand from the protective equipment manufacturing sector. As a result, a swift recovery in the market is predicted for the near future.

Segmentation of Global Purging Compounds Market-

Global Purging Compounds Market – By Type

  • Mechanical purging
  • Chemical purging
  • Liquid purging

Global Purging Compounds Market – By Process

  • Extrusion
  • Injection molding
  • Blow molding

Global Purging Compounds Market – By Region

  • North America
    • S.
    • Canada
  • Europe
    • Germany
    • France
    • K.
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • South-east Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East and Africa

Frequently asked questions about the global Purging Compounds industry

COVID-19 is expected to affect the global Purging Compounds market negatively.

North America accounted for the highest share of the global Purging Compounds market.

The increased use of purging compounds in various sectors leads to lower production costs, less machine downtime, and less raw material waste, which is projected to affect the purging compound market's growth.

The mechanical purging segment had a major share in 2021, with more than 40% of the market revenue.

The injection molding segment had a major share in 2021, with more than 40% of the market revenue share.

Purging Compounds Market Scope

Report Attribute Details
Market Value in 2021 USD 538.2 million
Market Value in 2028 USD 725.37 million
CAGR 5.10%
Benchmarking Year 2021
Past data 2016 – 2021
Forecast period 2022 – 2028
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Trusted By
Godaddy
Published Date:  Nov 2017
Category:  Chemicals
Report ID:   58786
Report Format:   PDF
Pages:   120
Rating:    4.8 (70)
Delivery Time: 24 Hours to 48 Hours   
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