Plastic Compounding Market 2022
New Study Reports “Plastic Compounding Market 2022 Global Market Opportunities, Challenges, Strategies and Forecasts 2031” has been Added on PMR.
Introduction/Report Summary:
This report provides in depth study of “Plastic Compounding Market” using SWOT analysis i.e. Strength, Weakness, Opportunities and Threat to the organization. Plastic Compounding Market report also provides an in-depth survey of key players in the market which is based on the various objectives of an organization such as profiling, the product outline, the quantity of production, required raw material, and the financial health of the organization.
Drivers and Constraints
The fundamental dynamics that are explored in the report hold substantial influence over Plastic Compounding Market. The report further studies on the value, volume trends, and the pricing history of the market. In addition to it, various growth factors, restraints, and opportunities are also analyzed for the market to study the in-depth understanding of the market.
This updated survey on the bromine industry has estimated market revenue for 2031 to reach approximately US$ 3.3 Bn. Analysts at Persistence Market Research have predicted the industry to progress at a CAGR of 2.6% in terms of value over the decade.
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Demand will be impeded by growing regulations and legislations, especially in the European Union (EU), where the use of certain brominated flame retardants is banned or restricted.
Flame retardants will continue to remain the largest application segment. Use of bromine in oil and gas drilling will continue its upward momentum in 2021, growing at a moderate rate in terms of volume – the fastest among all the application segments.
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The chemicals industry is anticipated remain the largest consumer of bromine. Use of bromine in the oil and gas sector will also continue to witness steady growth, as clear brine fluids gain traction for drilling purposes.
Demand will be offset by sluggish adoption in the electronics industry, as use of brominated flame retardants continues to face stricter regulations. Demand for bromine from electronics sector is expected to witness a steady growth in 2021 over 2020.
Asia Pacific is expected to remain the largest market for bromine. This is primarily due to expansion of end-use industries such as chemicals, pharmaceuticals, textiles, and electronic in APAC.
Latin America will continue to offer growth opportunities to manufacturers, with global demand witnessing a steady volume growth in 2021 over 2020. Demand is expected face constraints in the mature markets of North America and Western Europe in 2021 as well.
Israel Chemicals Limited, Chemtura Corporation, Albemarle Corporation, Gulf Resources Inc., Tosoh Corporation, Tetra Technologies Inc., Tata Chemicals Limited and Hindustan Salts Limited are the key players in the market.
Top players are continuously focusing on expanding their product offerings, especially in flame retardants segments. Collaborations and joint ventures are key business strategies to develop green brominated flame retardants.
Long-term Outlook: Persistence Market Research projects the global bromine market to witness moderate growth during the forecast period 2021-2031.
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Major Highlights of Plastic Compounding Market Report:
- Plastic Compounding Market analysis report offers an in-depth study of the potential market growth opportunities and challenges.
- The report dives deeper into the market and explains the dynamic factors bolstering market growth.
- The report deeply assesses the current, historical market size, market share, and revenue growth rates to offer accurate market projections for the forecast period.
- The report analyzes Plastic Compounding Market presence across major regions of the world.
- It determines the production & consumption capacities and demand & supply dynamics of each regional market.
- The report further illustrates the intense competition among the key market players and highlights their effective business expansion plans and strategies.
- It provides company overview and SWOT analysis of each of the market players.
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