The global plastic compounding market size was US$ 5381.5 billion in 2021. The global plastic compounding market is forecast to grow to US$ 8451.4 billion by 2030 by registering a compound annual growth rate (CAGR) of 5.1% during the forecast period from 2022 to 2030.
Plastic compounding is the method of mixing and melting together the material generally in an extruder. The material is then pelletized and later processed into final products.

Factors Influencing the Market
The growing demand for infrastructure development will primarily drive the growth of the global plastic compounding market. Furthermore, plastics demand is growing across the construction segment, majorly for floorings, insulation materials, storage tanks, performance safety windows, doors, pipes, etc. In addition to that, the rising number of residential and commercial projects will also fuel the growth of the global plastic compounding market. The booming construction industry is also expected to offer lucrative growth opportunities for the global plastic compounding market during the study period.
Rapid industrialization and favorable policies by government bodies will contribute to the growth of the global plastic compounding market. In addition, rising focus on the production of lightweight vehicles will escalate the demand for plastic compounding during the study period. The growing urban population, combined with the rising disposable income, will also drive the plastic compounding market forward during the forecast period.

COVID-19 Impact Analysis on Global Plastic Compounding Market
The COVID-19 pandemic has affected various end-use segments of the plastic compounding market, including construction and automotive. As a result, it also hampered the growth of the global plastic compounding market. The construction sector witnessed a sharp decline in terms of revenue. In addition to that, the automotive segment also experienced various challenges leading to a significant decline in terms of revenue. Thus, it also affected the other associated industries, such as plastic compounding for a significant time.

Regional Analysis
The Asia-Pacific plastic compounding market is forecast to record a substantial growth rate, owing to the rising automotive industry in the region. Further, the rapidly growing population and rising disposable income will also contribute to the growth of the plastics compounding market. The region also holds one of the largest automobile industries, which will drive the demand for plastic compounding in the coming years. Further, the region is expected to maintain a strong foothold in the manufacturing sector, including packaging and electrical & electronics, which will escalate the demand for plastic compounding throughout the forecast period.

Competitors in the Market
BASF SE
LyondellBasell Industries N.V.
Dow, Inc.
DuPont
RTP Company, Inc.
S&E Specialty Polymers, LLC
Covestro AG
Kraton Polymers, Inc.
Other prominent players

Market Segmentation
The global plastic compounding market segmentation focuses on Product, Application, and Region.
By Product
PE
PP
TPV
TPO
PVC
PS
PET
PBT
PA
PC
ABS
By Application
Automotive
Optical Media
By Region
? North America
o The U.S.
o Canada
o Mexico
? Europe
? Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
? Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
? Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
? Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
? South America
o Brazil
o Argentina
o Rest of South America