Synopsis
of Purging Compound Market:
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.
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. This segment is mainly known for fast removal of
contaminants from the machinery equipment such as extruders and hoppers. Owing
to these factors, mechanical purge segment is estimated to witness a higher
CAGR during the forecast period. The growing demand from food and beverages
industry has propelled the extrusion process segment to observe a rapid growth
in the market. Moreover, the growth of injection molding segment is attributed
to the boundless use in plastic processing industry during the projected
period, 2017-2023.
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Global
Key Players:
·
The 3M Company
·
The Dow Chemical Company
·
Kuraray Co., Ltd.
·
RapidPurge
·
CALSAK Corporation
·
VELOX GmbH
·
Daicel Corporation
·
Chem-Trend
·
BASF SE
Regional
Analysis:
The Global Purging Compound Market is segregated into
five crucial regions of the world namely Asia Pacific, North America, Europe,
Latin America and the Middle East & Africa. Among these, North America
holds a major portion of the market due to endless consumption of purging
compounds in automotive, construction, polymer industries, and others. Owing to
these factors, countries such as U.S.A., Canada and Mexico are projected to be
the major players during the forecast period.
The Asia Pacific region is estimated to witness a
higher CAGR due to the growing use of extrusion and injection molding processes
in automotive, construction, and industrial machinery. China, Japan and India
are the major players in this region due to extensive use and consumption of
purging compounds in plastic processing industry. A surge in demand is
predicted in the industrial machinery segment due to growing investment and
manufacturers in the major end use industries.
A notable growth is observed in the European region
due to increasing demand of Purging Compounds in the end use industries such as
construction, automotive, polymer, industrial machinery and aviation sectors.
It is estimated that mechanical surge segment is projected to lead the market
in this region due to its growing consumption of Purging Compounds in heavy
industries. Owing to these factors, Germany, the U.K. and Italy are projected
to be the major contributors to the market during the forecast period. The
Middle East & Africa is predicted to witness a significant growth in the
market due to growing use of Purging Compounds in oil & gas, and
petrochemical industries. Moreover, it is estimated that the growing
consumption of Purging Compounds in automotive and construction sectors has
propelled the Latin American region to witness a rapid growth in the market
during the forecast period.
Market
Segmentation:
The Global Purging Compound
Market is segregated into type, process and application. On
the basis of type, the market is further categorized into mechanical purge,
chemical purge and liquid purge. Among these, mechanical surge segment holds a
major share in the market owing to growing demand of purging in major
industries such as polymers, automotive, construction, and others. By process,
the market is further differentiated into extrusion, injection molding and blow
molding. Of these, extrusion and injection molding are the widely used
processes in heavy end industries due to its exceptional features such as short
processing time, efficiency, durability and versatile nature. Automotive,
construction, polymer, industrial machinery, and others are the classifications
of applications segment. It is projected that the automotive segment is set to
expand at a higher rate due to exceptional features offered by Purging
Compounds such as reduction of scrap and carbon contaminants from the heavy
machineries.
Geographical
Analysis:
The report covers brief analysis of the major
geographic regions namely Asia Pacific, Europe, North America, Latin America,
and the Middle East & Africa.
Intended
Audience
- Purging Compound
Manufacturers
- Traders and
Distributors of Purging Compound
- Production
Process Industries
- Potential
Investors
- Raw Material
Suppliers
- Nationalized
Laboratory
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