The purging compounds are plastic resins especially designed to clean the extruder and thermoplastic moulding machines. It contains certain base resins and additives that are used to clean screw, barrel and extruder. These compounds are also used for the removal of the color and various contaminates from equipment. The purging compounds are more preferred in comparison to traditional methods as it is more efficient. These compounds are used in reducing the machine down-time and improving the efficiency of the processing. The two basis methods involved in purging are mechanical and chemical purging. The primary use of the purging compounds is that it reduces the time involved in the material changeover. It is also used to reduce the contamination from plastic processing machines.
Market Size and Forecast
The global purging compounds market is anticipated to expand at a CAGR during 6.0% during 2018-2027. It is projected to reach around USD 0.75 billion market size by 2027. The increasing demand for the purging compounds from various application industries coupled with low cost of the purging compounds is anticipated to increase the market growth of the global purging compounds market during the forecast period. The global purging compounds market can be segmented on the basis of type, process and application. On the basis of type, it is sub-segmented into mechanical purge, chemical purge and liquid purge. Mechanical purge sub-segment is anticipated to lead the type segment on the account of increasing demand for the purging compounds from different applications such as polymers, automotive, construction etc. On the basis of process, it is sub-segmented into extrusion, injection molding and blow molding. Extrusion sub-segment is anticipated to lead the process segment. The high application of extrusion process in different industries is anticipated to boost the extrusion sub-segment growth during the forecast period. On the basis of application, it is sub-segmented into automotive, construction, polymer and industrial machinery. Automotive sub-segment is anticipated to be the leading sub-segment for the application segment. The increasing application of the purging compounds in automotive industry is anticipated to boost the market growth.
By region, global purging compounds market is segmented into North America, Asia-Pacific, Latin America, Europe, Middle East and Africa. North America is anticipated to hold the largest market share for the global purging compounds market during the forecast period. The presence of large number of plastic processing plants in the region is anticipated to boost the growth of global purging compounds market in North America. Additionally, the rising demand for the plastic processing equipment from various plastic processing units is also anticipated to boost the growth of global purging compounds market. Asia-Pacific region is anticipated to above average robust growth during the forecast period. The rapid industrialization in the region is resulting in the expansion of various application industries such as construction, automotive and chemicals are anticipated to increase the demand for the purging compounds during the forecast period.
Our in-depth analysis segmented the global purging compounds market in the following segments:
Global purging compounds market is further classified on the basis of region as follows:
Growth Drivers and Challenges
The increasing demand for purging compounds from plastic processing plants is anticipated to be a major growth driver for the global purging compounds market during the forecast period. The increasing demand from chemical industry and high usage as effective removal solutions to control corrosion and also carbon deposition is also driving the global purging compounds market. The increasing application of purging compounds in different types of packaging is anticipated to fuel the growth of the global purging compounds market.
However, volatility in the raw material prices and high cost associated with the purging compounds is anticipated to hinder the growth of the global purging compounds market.
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