Purging Compound Market Insights
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.
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.
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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.
- 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)
Purging Compound Market Segmentation:
The Global Purging Compound Market is differentiated into type, process and application.
By 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.
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.
Global Purging Compound Regional Industry 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.
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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Table Of Contents:
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
4.1 Five Forces Analysis
4.1.1 Threat Of New Entrants
4.1.2 Bargaining Power Of Buyers
4.1.3 Threat Of Substitutes
4.1.4 Segment Rivalry
4.2 Value Chain/Supply Chain Of Global Purging Compound Market
5 Industry Overview Of Global Purging Compound Market
5.2 Growth Drivers
5.3 Impact Analysis
5.4 Market Challenges
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