The global purging compound market size reached US$ 570 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 781.1 Million by 2028, exhibiting a growth rate (CAGR) of 5.49% during 2023-2028. The growing focus on minimizing waste production and maintaining quality control, increasing popularity of thermoplastic processing, and rising utilization of polyester polymers in the textile industry to produce clothes are some of the major factors propelling the market.
|Purging Compound Market Size in 2022
||US$ 570 Million
|Purging Compound Market Forecast in 2028
||US$ 781.1 Million
|Purging compound Market Growth Rate (2023-2028)
Purging compound is a resin-based product manufactured to clean thermoplastic molding machines, injection molding machines, blow molding machines, and extruders that are employed to manufacture plastic parts. It comprises a wide variety of materials, such as acrylic, polypropylene, polyethylene, polystyrene, and polyvinyl chloride. It also consists of various engineered resins, such as polycarbonate, nylon, polyethylene terephthalate (PET), polybutylene terephthalate (PBT), thermoplastic olefin elastomers (TPO), and thermoplastic elastomer (TPE). It helps reduce scrap rates and save maintenance costs while cleaning barrels and hot runner systems by eliminating contaminants, such as carbon.
At present, the increasing demand for purging compounds to clean industrial machinery and retain their efficiency represents one of the crucial factors impelling the growth of the market. Besides this, the rising utilization of plastic for packaging cosmetic products, food and beverage (F&B) items, and consumer electronics to protect them from moisture and other contaminants is contributing to the growth of the market. In addition, the growing awareness about the beneficial aspects of recycling plastics to prevent water pollution and reduce landfill accumulation is offering a favorable market outlook. Apart from this, the increasing popularity of electric vehicles (EVs), as they are sustainable and prevent the emission of vehicular exhausts, is supporting the growth of the market. Additionally, the rising utilization of polyester polymers in the textile industry to produce clothes is bolstering the growth of the market.
Purging Compound Market Trends/Drivers:
Rising utilization in manufacturing processes
Purging compounds are used in various manufacturing processes, including plastic injection molding, extrusion, blow molding, and more. As the manufacturing industry is expanding, particularly in sectors, such as automotive, packaging, electronics, and consumer goods, the product demand is increasing. These compounds are essential for efficient equipment maintenance, color or material changes, and minimizing production downtime. Manufacturers are continually seeking ways to optimize their production processes and reduce costs. Purging compounds play a crucial role in achieving these objectives by effectively cleaning machinery, mold, and equipment. Furthermore, as purging compounds minimize the time and material waste associated with manual cleaning methods, their demand is increasing around the world.
Growing focus on minimizing waste production and maintaining quality control
Residual contaminants and color streaks in plastic products can impact their appearance and performance. Purging compounds help maintain product quality by removing residues, degraded plastics, colorants, and other contaminants from machinery and molds. This helps prevent defects and waste, reducing overall production costs. Manufacturers are actively seeking ways to reduce waste and minimize their environmental footprint. Purging compounds are contributing to sustainability efforts by optimizing the cleaning process, reducing the need for excessive scrap material, and promoting the efficient use of resources. Furthermore, as they prevent the accumulation of waste in landfills, their demand is increasing across various industries.
Increasing popularity of thermoplastics
Thermoplastics are a type of polymer that becomes moldable above a specific temperature and solidifies upon cooling. They comprise polyethylene, polyvinyl chloride, polypropylene, and polystyrene. They are more widely employed in various industries compared to thermosetting polymers in injection molding as they can be repeatedly softened by heating and solidified by cooling, making them highly recyclable materials. Besides this, thermoplastic possesses immense versatility, which assists in producing diverse components and products that can meet specific requirements across various industries. Moreover, as thermoplastic processing and production rates are increasing, the demand for purging compounds is rising for cleaning purposes.
Purging Compound Industry Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global purging compound market report, along with forecasts at the global, regional, and country levels from 2023-2028. Our report has categorized the market based on type and application.
Breakup by Type:
- Mechanical Purging
- Chemical Purging
- Liquid Purging
Mechanical purging dominates the market
The report has provided a detailed breakup and analysis of the market based on the type. This includes mechanical purging, chemical purging, and liquid purging. According to the report, mechanical purging represented the largest segment.
Mechanical purging compounds are effective for several applications and rely on shear force and differences in viscosity to clean molds. They are used in pellets wherein the user will have to check the operating temperature range recommended by the fabricant. They do not require a soak cycle and can run through plastic processing equipment, such as resin. In addition, their effectiveness is increased with the help of high screw speed and high back pressure.
Chemical purging compounds require a 5 to 30 minute soak cycle and are heat activated. They contain abrasives along with other ingredients that will create turbulence internally in the plastic processing equipment.
Breakup by Application:
- Industrial Machinery
- Thermoplastic Processing
Automotive holds the largest share of the market
A detailed breakup and analysis of the market based on the application have also been provided in the report. This includes automotive, construction, industrial machinery, polymers, thermoplastic processing, and others. According to the report, automotive accounted for the largest market share.
The automotive sector requires purging compounds to clean and maintain processing equipment. These compounds ensure that the efficiency of automotive parts is maintained and the occurrence of accidents also reduce in cars. They are used to clean the molds by purging out the existing resin, additives, and any adhering contaminants. This process helps maintain the integrity and performance of the molds, resulting in high-quality automotive parts.
Industrial machinery relies on purging compounds as they reduce the amount of time and material required to clean a machine from color and polymer contamination or material degradation. Furthermore, they contribute to a more stable production procedure and long-term financial gains.
In thermoplastic processing, a purging compound is required to efficiently clean thermoplastic processing units from leftover resin and other contaminants that build up on the interior processing surfaces.
Breakup by Region:
- North America
- United Kingdom
- Asia Pacific
- South Korea
- Latin America
- Middle East and Africa
North America exhibits a clear dominance, accounting for the largest purging compound market share
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa.
North America held the biggest market share since the region is experiencing significant industrial and technological advancements. Besides this, the rising focus on improving the functionalities of automotive parts is further propelling the growth of the market.
Another contributing aspect is the expansion of plastic processing and utilization of plastic in manufacturing a wide range of packaging products. Besides this, the rising utilization of plastic processing machinery, especially in injection molding, is bolstering the growth of the market.
Asia Pacific is estimated to expand further in this domain due to the increasing employment of plastic in manufacturing various consumer products. In addition, the growing demand for plastics in the automotive industry to produce wheel arches, grilles, floor rails, and door panels is offering a favorable market outlook.
Key market players are investing in research activities for developing innovative formulations and technologies. They are also focusing on improving the effectiveness, efficiency, and versatility of their products. Top companies are collaborating with other organizations to increase their production facilities and improve their product portfolio. They are also planning on connecting with a greater number of customers on a global scale to enhance their sales. Leading manufacturers are adopting various sustainable measures to produce purging compounds and reduce production waste, scrap parts, and machine energy. They are also manufacturing recyclable purging chemicals to minimize their carbon footprint and eliminate machine downtime.
The report has provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:
- Asahi Kasei Corporation
- Calsak Corporation (K. Sakai & Co. Ltd)
- Chem-Trend L.P. (Freudenberg & Co. KG)
- Neutrex Inc.
- Novanative Plastix Solutions
- Purge Right LLC
- Shuman Plastics Inc.
- Slide Products Inc.
- The Dow Chemical Company
Purging Compound Market Report Scope:
|Base Year of the Analysis
| Historical Period
|Scope of the Report
||Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment:
||Mechanical Purging, Chemical Purging, Liquid Purging
||Automotive, Construction, Industrial Machinery, Polymers, Thermoplastic Processing, Others
||Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Asahi Kasei Corporation, Calsak Corporation (K. Sakai & Co. Ltd), Chem-Trend L.P. (Freudenberg & Co. KG), Neutrex Inc., Novanative Plastix Solutions, Purge Right LLC, RapidPurge, Shuman Plastics Inc., Slide Products Inc., The Dow Chemical Company, etc.
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Key Questions Answered in This Report:
- How has the global purging compound market performed so far, and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global purging compound market?
- What is the impact of each driver, restraint, and opportunity on the global purging compound market?
- What are the key regional markets?
- Which countries represent the most attractive purging compound market?
- What is the breakup of the market based on the type?
- Which is the most attractive type in the purging compound market?
- What is the breakup of the market based on the application?
- Which is the most attractive application in the purging compound market?
- What is the competitive structure of the global purging compound market?
- Who are the key players/companies in the global purging compound market?
Key Benefits for Stakeholders:
- IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the purging compound market from 2017-2028.
- The research study provides the latest information on the market drivers, challenges, and opportunities in the global purging compound market.
- The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
- Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the purging compound industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.