The latest market report published by Credence Research, Inc. “Purging compounds Market, By type (Mechanical Purging, Chemical/Foaming Purging, Liquid Purging), By Process (Extrusion, Injection Molding, Blow Molding) and By Region (North America, Europe, Asia Pacific, Latin America, & Middle East & Africa) – Growth, Future Prospects and Competitive Analysis, 2017 – 2025,” the global purging compounds market was valued at US$ 430.5 Mn in 2016, and is projected to witness the decent growth between 2017 and 2025.
Browse the full Purging compounds market – Growth, Future Prospects and Competitive Analysis, 2017 – 2025 report at http://www.credenceresearch.com/report/purging-compounds-market
Purging compounds are gaining traction mainly due to increasing demand from modern thermoplastic processors for maintaining operational efficiency. Purging compounds find variety of application in polymer processing and are suitable for screw and barrel assemblies, extruder die sets, and tooling. It is also useful in removing carbon in assemblies, reducing machine down-time, and improving the operational efficiency. Moreover, it also decreases the scrap rate caused by color and polymer changes. Aforementioned benefits of purging compounds helps in enhancing process and production efficiencies, and optimizing manufacturing processes in order to maximize profit and minimize the overall production cost.
Purging compound market is highly competitive in nature with the presence of a large number of producers and distributors operating across the world.
Few major players operating in the market are Asahi Kasei Corporation (Japan), Daicel Corporation (Japan), Dyna-Purge (U.S.), Clariant AG (Switzerland), VELOX GmbH (Germany), The Dow Chemical Company (U.S.), E. I. Du Pont de Nemours and Company (U.S.), 3M Company (U.S.), and Formosa Plastics Corporation (Taiwan) among others. Various growth strategies adopted by these players to strengthen their position in the market includes mergers & acquisitions, new product launches, joint ventures, innovation, and technological advancements partnerships. For instance, recently the two chemical giants the Dow chemical company and DuPont merged together to form Dow Dupont in order to widen their expertise and also the product portfolio.
- Emerging application in food and pharmaceutical industries
- Growing plastic processing industry is triggering the market growth