Purging Compounds Market: Global Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2017-2021 and Forecast 2022-2028

Description

Purging Compounds market is estimated to be valued at USD 64,376.3 million in 2021 and is poised to grow at a significant CAGR of 8.5% over 2022-2028. Commercial cleaning chemicals used to clean thermoplastic molding machines and extruders are known as purging compounds. It’s made up of a basic resin as well as various additives that clean the screw, barrel, and extruder die. Purging chemical is also used to clean hot runner molds, remove color, and carbon deposits, and make color and material modifications. Based on type the mechanical purging segment holds the highest revenue market share in the global purging compounds market owing to ease of use and fast operation as there is no chemical reaction and no soak time needed to purge the molding machine. Efficient removal of polymer deposits by utilizing high viscosity plastics from screws and barrels will enhance the product demand. Moreover, market players are focusing on launching a new product to maintain growth in the market. For instance, In February 2018, the Asaclean-Sun Plastech, Inc., the US-based chemical product manufacturer launched its next-generation UF2 purging compound at NPE 2018. This compound is ideal for cast film, blown film, and injection molding applications. Growing automotive production in India to drive the demand for purging compounds. Increasing demand from thermoplastic application, rise in production capacity to cater to unmet needs of the market, grow in awareness about benefits of purging compounds are the key features driving the purging compound market demand. Eliminating degraded residues, un-melted resins, foreign contaminants, true gels, moisture, un-dispersed additives & modifiers, and air bubbles from machine barrels are among the key features driving the purging compound market demand.

Recent Market Developments:

In 2020, GC MARKETING SOLUTIONS launched a high-performance purging compound grade, X PURGE PX319, with high cleaning efficiency together with a low-smoke and low-smell performance. It is suitable to work in a cleanroom or use a hygienic production line. This product launch will enhance their product portfolio and better cater to the growing market’s needs.

In 2018, Chem-Trend introduced Ultra Purge C6090, a new, cutting-edge thermoplastics purging compound product for use in the automotive industry in the manufacturing process of the automotive headlamp and rear-lamp lenses.