Recycled Plastics Market,Plastic Recycling Market,Plastic Recycling

Use of Purging Compounds in Various Industries Leads to Reduction in Machine Downtime, Low Production Cost, and Less Raw Material Wastage

The report Purging Compound Market by Type (Mechanical, Chemical/Foaming, and Liquid Purging), Process (Extrusion, Injection Molding, and Blow Molding), and Region – Global Forecast to 2022″, The purging compound market is projected to reach USD 586.3 Million by 2022, at a CAGR of 5.4% from 2017 to 2022. The ability of purging compounds to reduce downtime of machines, lower their cleaning costs, and reduce wastage of raw materials is expected to fuel the growth of the purging compound market during the forecast period.

The growth of the plastic processing equipment industry across the globe and its compliance with various legal and administrative bodies for direct use with food products and medicines have played a major role in providing momentum to the growth of the purging compound market across the globe. In addition, there are very few substitutes for purging compounds available in the market that have made it indispensable and essential to lower the number of rejected finished items, thereby reducing the overall production costs of various industries. Presently, there is an increased demand for highly efficient cleaning agents from the plastics industry to clean machines to ensure harmless process material changing after each production cycle. As such, purging compounds are widely used in various industries for plastic processing machine applications.

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On the basis of type, the purging compound market has been segmented into mechanical purging, chemical/foaming purging, and liquid purging. Chemical/foaming purging is the fastest-growing segment type in this market. This growth is mainly attributed to the benefits associated with the use of chemical/foaming purging such as it minimizes production cost and ensures optimal functioning of machinery.

By process, the purging compound market has been segmented into extrusion, injection molding, and blow molding. The injection molding segment is the fastest-growing process segment of this market. This growth is mainly attributed to the benefits of injection molding such as it accelerates production processes and ensures high precision in the development of engineering components.

By region, the Asia-Pacific purging compound market is projected to grow at the highest CAGR from 2017 to 2022. Rapid industrialization in this region has contributed to the expansion of various industries, such as chemicals, petrochemicals, automotive, construction, and food & beverage, among others. As purging compounds are increasingly utilized by these industries to reduce machine downtime and improve production efficiency, the growth of the end-use industries has propelled the demand for purging compounds in the Asia-Pacific region.

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The North American region is expected to lead the global purging compound market during the forecast period

By region, North America is estimated to account for the largest share of the global purging compound market in 2017, and the U.S. is estimated to account for the largest market share in 2017. This share is mainly attributed to the large base of plastic processing plants in the North American region. Also, the high demand for plastics processing machinery is anticipated to drive the growth of the purging compound market in North America.

Purging Compound Market, Purging Compound
Purging Compound Market, by Region, 2022

Asahi Kasei Corporation (Japan), Chem-Trend (China), Purgex (U.S.), Dyna-Purge (U.S.), 3M Company (U.S.), Clariant AG (Switzerland), VELOX GmbH (Germany), E. I. Du Pont de Nemours and Company (U.S.), Kuraray Co., Ltd. (Japan), Daicel Corporation (Japan), The Dow Chemical Company (U.S.), Formosa Plastics Corporation (Taiwan), CALSAK Corporation (U.S.), Reedy Chemical Foam & Specialty Additives (U.S.), Magna Purge (U.S.), and RapidPurge (U.S.) are some of the key players in the global purging compound market.

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