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Purging Compound Market (Impact of COVID-19) Historical Growth, Analysis, Opportunities and Forecast To 2027
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According to Market Research Future (MRFR), The plastic resin compound which is designed to clean the thermoplastic extruders and machines is called Purging Compound. It is used for removing color and contaminants from machines and the thermoplastic extruder. The mechanical purge, chemical purge and liquid purge are the types of purging compound and they are known for reduced scraps, less processing time, efficiency, and durability nature. Owing to these features, they are used in various applications such as automotive, construction, industrial machinery, and others.
The Global Purging Compound Market has been driven by the growing consumption of mechanical and chemical purge in heavy end industries. It is predicted that the market is set to witness a higher growth due to an increase in the number of manufacturing units to produce mechanical and chemical purges in automotive, chemical and construction industries.
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Major Key Players:
The 3M Company (U.S.A)
The Dow Chemical Company (U.S.A)
Kuraray Co., Ltd. (Japan)
CALSAK Corporation (U.S.A)
VELOX GmbH (Germany)
Daicel Corporation (Japan)
BASF SE( Germany
The Global Purging Compound Market is differentiated into type, process and application. By type, the market is further segmented into mechanical purge, chemical purge and liquid purge. The mechanical purge and liquid surge segments are involved in applications such as automotive, polymer, industrial machinery, construction, and others. Among these, mechanical surge segment holds the major share in the market due to various features offered by the product such as fast processing and reduced downtime and fewer raw materials. It is also predicted that chemical surge segment is set to expand at a higher rate due to its growing demand in low pressure applications such as pressure transmitters, pressure gauges, pressure transducer and nano composite membranes. On the basis of process, the market is further subdivided into extrusion, injection and blow moldings. Among these, extrusion molding segment is set to expand at a higher rate due to its endless use in heavy industries. Applications segmented are further segregated into automotive, construction, polymer, industrial machinery, and others. Automotive segment is the major contributor to this market and estimated to witness a higher growth in the market due to growing use of Purging Compounds in the industry.
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The Global Purging Compound Market is spanned across five key regions of the world namely Asia Pacific, North America, Europe, Latin America and the Middle East & Africa. Among these, North America holds a major share in the market and is anticipated to continue its dominance due to rising demand of purging compounds in end use industries. Asia Pacific is predicted to witness a higher CAGR owing to growing popularity of extrusion and injection molding processes in automotive, construction and industrial machinery. Europe has observed a rapid growth in the market owing to the growing use of injection molding process in the major industries. Moreover, Latin America and the Middle East & Africa have noticed a significant development in the region owing to growing demand of chemical purge segment in heavy end industries.
Oct 2021 – Dow announced major advancements in its supply of recycled plastic products to customers. The developments will allow the company to begin supplying clients with entirely circular polymers in 2022. All of these efforts are said to make it possible to recycle plastics that are now unrecyclable, such as flexible plastics used in packaging, which are normally burnt or disposed of in landfills. Breaking down mixed waste plastics into their original form to make new virgin polymers is known as advanced recycling.
April 2021- Slide products, A leading US-based leading plastic processing aids manufacturer, launched a high-temperature purging compound. This purging compound is targeted at engineer-grade resins such as polyphenylene sulfide, PEEK, PET, polyetherimide, and liquid crystal polymer.
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About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
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