Purging Compound is a product composed of base resin and additives which is designed for cleaning thermoplastic extruder and machines. It is also used for cleaning hot runner mold as well as color and material changes. The important trends and factors which are influencing the market positively are reduced downtime, less processing time and fewer scraps. Due to these characteristics, 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. Global Purging Compound Market research report spread across 135 Pages consist 47 Tables and 13 Figures also include Top 10 Global key players that sharing latest types, technology, application by 2023.
Purging Compound Market– Top 10 Global key Players & Their Strategy
Some of the major players functioning in the Global Purging Compound Market are 3M Company (U.S.A.), The Dow Chemical Company (U.S.A.), Kuraray Co., Ltd. (Japan), RapidPurge (U.S.A.), CALSAK Corporation (U.S.A.), VELOX GmbH (Germany), Daicel Corporation (Japan), Chem-Trend (China), BASF SE( Germany),among others.
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Purging Compound Market – Intended Audience
- Purging Compound Manufacturers
- Traders and Distributors of Purging Compound
- Production Process Industries
- Potential Investors
- Raw Material Suppliers
- Nationalized Laboratory
Competitive Analysis
As per our market survey, the Global Purging Compound Market is segmented into type, process and application. On the basis of type, the market is further sub-divided into mechanical purge, chemical purge and liquid purge. Among these, mechanical purge segment holds a major share in the market on account of their extensive use in automotive, construction and polymer industries.
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Segmentation Analysis
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.
Regional Analysis
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.
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