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(Transportation-News.com, August 20, 2018 ) In tandem, governments of both developing as well as developed nations have been increasingly taking encouraging initiatives to reduce harmful vehicular emission, a factor that has further favored Plastic Compounding Market growth from automotive applications. Perhaps marred by the fact that vehicle weight and fuel consumption are inextricably related, light weight vehicles hold a greater chance of meeting these regulations than normal vehicle.
Experts claim, every saving of 100 kg weight in vehicle can lead to a reduction of fuel consumption of almost 0.4L/100km from cars and 0.5L/ 100 km in case of light weight trucks. Being in line with the government’s regulations, car manufacturers have been striving hard to replace metal parts with plastics, which is sure to reflect in the overall plastic compounding industry size.
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The latest scoop that is grabbing the headlines in plastic compounding market is the acquisition plan of Omni Plastics LLC by Celanese Corporations, a deal that is reported to include Omni’s subsidiaries which comprises Mexican distributor, Resinal de Mexico. Somewhat toward the end of last year, the Dallas-based company has put forth its proposition of purchasing Omni’s engineered materials business, in a bid to stronghold its position in plastic compounding industry.
Speaking of the fact, in the past few years, Celanese has been making hefty investments in compounding via internal projects and several acquisition activities in the U.S. and offshore. As far as the latest deal is concerned, although it is anticipated to get finalized by the first quarter of this year, neither of the concerned parties have yet disclosed anything about the terms of the deal. However, as per experts’ affirmation, the deal, in all likeliness, would help Celanese streamline its product portfolio in the transformative plastic compounding market, that is slated to cross USD 50 billion by 2024.
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The strategic landscape of plastic compounding industry boasts of a portfolio of renowned biggies like LyondellBasell Industries, A. Schulman, BASF, Dow Chemical, and Solvay. Amidst the backdrop of sheer competition, production capacity expansion has emerged as a most adopted strategy determining the sustainability quotient for the industry participants. The aforementioned plastic compounding market giants have been increasingly investing in research activities to enhance their production capacity. Say for instance, A. Schulman, in the year before last, made it to the headlines with the launch of its new Kerpen plant situated in Germany.
Reportedly, in addition to introducing two new production lines, the U.S. based company had integrated a fully automatic packaging line in the plant. As recent as in June 2017, BASF, one of the acclaimed player in plastic compounding market has expanded its Schwarzheide site plant capacity to 70000 tons. With leading giants paving the way for more investments in plastic compounding industry, the competitive landscape of this fraternity is undoubtedly going to be one of the most dynamic platforms in the ensuing years.
Global Market Insights, Inc.
Arun Hegde
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Source: EmailWire.Com 
Source: EmailWire.com
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