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Purging Compounds Market Segmentation By type (Mechanical purge, Chemical purge and Liquid purge); By process (Extrusion, Injection molding and Blow molding); By application (Automotive, Construction, Polymer and Industrial machinery) - Global Demand Analysis & Opportunity Outlook 2027

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Extensive insights into the Growth of Purging Compounds Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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Product Overview

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.CLICK TO DOWNLOAD FREE SAMPLE

Market Segmentation

Our in-depth analysis segmented the global purging compounds market in the following segments:

By Type:

  • Mechanical purge
  • Chemical purge
  • Liquid purge

By Process:

  • Extrusion
  • Injection molding
  • Blow molding

By Application:

  • Automotive
  • Construction
  • Polymer
  • Industrial machinery

By Region

Global purging compounds market is further classified on the basis of region as follows:

  • North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis

Purging Compounds Market

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.

Key Players

  • BASF SE
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
  • 3M Company
  • The Dow Chemical Company
  • Kuraray Co., Ltd.
  • RapidPurge
  • CALSAK Corporation
  • VELOX GmbH
  • Daicel Corporation 
  • Chem-Trend L.P.

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