As per the report, the plastic compounding market size stood at USD 52.74 billion in 2018. It is set to reach USD 87.11 billion by 2026, thereby exhibiting a CAGR of 6.5% during the forecast period.

Source: https://www.fortunebusinessinsights.com/plastic-compounding-market-102550

The global plastic compounding market size is set to gain traction from their increasing usage in the automotive and packaging industry. Besides, construction activities in emerging economies are increasing at a fast pace.

Automotive Transportation Segment to Hold the Highest Share Backed by Extensive Usage of Compounded Plastics

In terms of application, the market is grouped into consumer goods/lifestyle, infrastructure construction, industrial machinery, packaging, automotive transportation, electrical electronics, and others. Amongst these, the automotive and transportation segment is set to hold the largest plastic compounding market share during the forecast period. This growth is attributable to the increasing usage of compounded plastics in this industry. They lower the overall weight of the vehicle, which further increases the life and efficiency of the vehicle components. The infrastructure and construction segment held 14.6% share in 2018.