Purging Compound Market – Global Industry Analysis and Forecast (2023-2029)

Purging Compound Market is expected to reach USD 816.3 Million by 2029 from USD 564.8 Million in 2022 at a CAGR of 5.4%.

Shifting preference to reduce machine downtime, curb raw material wastage and lower cleaning costs will drive purging compound market growth. Rapid expansion of automotive, healthcare, consumer goods, electronics and packaging industry will stimulate industry growth. Traditional cleaning methods are being replaced by the product due to benefits such as reduction in purging time and enhanced quality of the final product. Factors are likely to augment the demand for the product in the thermoplastic processing industry over the forecast period.To know about the Research Methodology:-Request Free Sample Report

The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.

Mechanical purging, chemical/foaming purging and liquid purging are type segment of purging compound market. Chemical/foaming and liquid purging is largely used in industry.
Purging Compound Market Segment Analysis:
Injection molding, extrusion and blow molding are process segment of the purging compound market. Extrusion segment is leading type segment of purging compound market this is attributed to wide use of purging compound in the plastic processing equipment industry. Injection molding segment is expected to grow at a high CAGR during the forecast period.
Regional Insights:
Geographically, the purging compound market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America. North America is expected to be one of the largest markets for purging compound due to the increasing demand for purging compound by the plastic processing equipment industry in this region. Asia-Pacific is expected to grow at a high CAGR during the forecast period owing to the rising demand for extruders and injection molding from countries, such as Japan, China and India.
Purging Compound Market, Key Highlights:
Global market analysis and forecast, in terms of value.

Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the Global Purging Compound Market

The Global market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided.

Global market strategic analysis with respect to individual growth trends, future prospects along with the contribution of various sub-market stakeholders have been considered under the scope of study.

Global market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation.

Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled.

Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the Global Purging Compound Market are also profiled.
Purging Compound Market Scope:  Inquire before buying



Purging Compound Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 564.8 Mn.


Forecast Period 2023 to 2029 CAGR:
5.4%
Market Size in 2029:
US $ 816.3 Mn.


 Segments Covered:
by Type
Chemical/Foaming Purging
Mechanical Purging
Liquid Purging


by Process
Injection Molding
Extrusion
Blow Molding



Purging Compound Market, by Region
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
North America (United States, Canada and Mexico)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Purging Compound Market, Key Players
1. Asahi Kasei Corporation (Japan)
2. Chem-Trend (China)
3. Purgex (U.S.)
4. Dyna-Purge (U.S.)
5. 3M Company (U.S.)
6. Clariant AG (Switzerland)
7. VELOX GmbH (Germany)
8. E. I. Du Pont de Nemours and Company (U.S.)
9. Kuraray Co., Ltd. (Japan)
10. Daicel Corporation (Japan)
11. The Dow Chemical Company (U.S.)
12. Formosa Plastics Corporation (Taiwan)
13. Neutrex, Inc.
14. Shuman Plastics, Inc.
15. CALSAK CORPORATION
16. Reedy Chemical Foam & Specialty Additives
17. Daicel Corporation
18. Magna Purge
19. RapidPurge
20. BASF SE

Frequently Asked Questions:

1. Which region has the largest share in Global Purging Compound Market?
Ans: North America region held the highest share in 2022.

2. What is the growth rate of Global market?
Ans: The Global market is growing at a CAGR of 5.4% during forecasting period 2023-2029.

3. What is scope of the Global Purging Compound Market report?
Ans: Global market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global market?
Ans: The important key players in the Global market are – Asahi Kasei Corporation (Japan), Chem-Trend (China), Purgex (U.S.), Dyna-Purge (U.S.), 3M Company (U.S.), Clariant AG (Switzerland), VELOX GmbH (Germany), E. I. Du Pont de Nemours and Company (U.S.), Kuraray Co., Ltd. (Japan), Daicel Corporation (Japan), The Dow Chemical Company (U.S.), Formosa Plastics Corporation (Taiwan), Neutrex, Inc., Shuman Plastics, Inc., CALSAK CORPORATION, Reedy Chemical Foam & Specialty Additives, and Daicel Corporation

5. What is the study period of this Market?
Ans: The Global market is studied from 2022 to 2029.