Purging Compound Market Growth: Meeting Global

Purging compounds are employed to purge/flush thermoplastics residual from molds and production equipment. They help remove any contamination left behind by the previous material, colorant, or regrind. This prevents defects and off-colors in the subsequent parts. Purging compounds find key applications in removing residual polymers from injection molding machines, extruders and blow molding equipment in the plastics and polymer industries.

• The purging compound market is estimated to be valued at US$ 596.5 Mn in 2023 and is expected to exhibit a CAGR of 5.6% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights. Market Dynamics: The purging compound market is primarily driven by the increasing demand from the plastics processing industry. Plastics industry has been witnessing significant growth over the past few years owing to rising applications in automotive, packaging, construction and consumer goods industries. Purging compounds help improve the productivity and efficiency of plastics processing equipment by facilitating smooth transition between material changes, thereby increasing production output. Additionally, strict quality control regulations regarding purity levels in end-use parts is further fueling the adoption of purging compounds among manufacturers. Development of bio-based purging compounds to replace conventional solvent-based variants is expected to present lucrative growth opportunities for purging compound vendors over the forecast period. SWOT Analysis

• Strength: Purging compound has high plasticizing ability, good flow properties, and can be easily removed from the system. It helps remove leftover materials from injection molding or extrusion machines quickly and efficiently. Purging compounds are available in pellet, powder, and liquid form for different purging needs. They leave minimal residue and contamination behind.

• Weakness: Frequent purging increases production costs. Certain purging compounds contain hazardous chemicals that require safe handling and disposal. Improper purging can also damage injection molds over time.

• Opportunity: Growing injection molding industry worldwide due to rising demand from packaging and automotive industries offers huge market opportunity. Development of bio-based purging compounds using renewable resources can open new growth avenues.

• Threats: Availability of alternative purging methods like mechanical cleaning poses competition. stringent environmental regulations on usage of certain purging agents limits their applications. Key Takeaways The global purging compound market is expected to witness high growth, exhibiting CAGR of 5.6% over the forecast period, due to increasing demand from the plastics processing industry. Purging compounds help improve productivity and product quality in various plastics manufacturing processes. Regional analysis Asia Pacific dominates the global market and is expected to maintain its leading position during the forecast period, growing at a CAGR of over 6%. Expanding manufacturing sector, along with rising injection molding and extrusion activities in countries like China, India, Indonesia, and Vietnam, drives the regional market. North America and Europe hold significant shares as well, due to their large processing industries. Key players Key players operating in the purging compound market are Asahi Kasei Corporation, Clariant A.G., CALSAK Corporation, Daicel Corporation, DowDuPont Inc., Formosa Plastics Corporation, Kuraray Co., Ltd., Chem-Trend L.P., Polyplast Muller GmbH, and Claude Bamberger Molding Compounds Corporation. The market is moderately consolidated and competitive.