Plastic Compounding Market Is Likely To Up Demand At A USD 112.08 Billion By 2030
San Francisco, 12 Jan 2024: The Report Plastic Compounding Market Size, Share & Trends Analysis Report By Product (PP, PET, TPV, TPO, PVC, PBT, ABS), By Application (Automotive, Electrical & Electronics, Construction), By Region, And Segment Forecasts, 2023 - 2030 The global plastic compounding market size is expected to reach USD 112.08 billion by 2030, according to a report by Grand View Research, Inc. It is expected to expand at a CAGR of 7.6% from 2023 to 2030. The construction and vehicle industries are expected to encourage demand for interiors, exteriors, and under-the-hood components. Plastic compounding is used in automotive under-hood components, building interiors and exteriors in construction and infrastructure, and the electrical and electronics industry, which is anticipated to boost the market growth. Polyethylene Terephthalate (PET) is a plastic used to make bottle containers for packaged water and fizzy beverages. PET is considered a safe, durable, flexibl