Global Purging Compound Market: Snapshot

Purging compounds are gaining increased significance for maintaining the operational efficiency of modern thermoplastic processors.  These cleaning compounds, containing a base resin along with other additives, have a variety of applications in polymer processing and are found to be suitable for a variety of screw and barrel assemblies, extruder die sets, and tooling. The application of purging compounds has been found to be useful in removing the carbon buildup in assemblies, reducing machine down-time, and improving the processing efficiency. In addition, their uses have been found to be instrumental in decreasing scrap rates caused by color and polymer changes. These all factors play a crucial role in enhancing process efficiencies and optimizing the entire manufacturing processes associated with thermoplastics.

Compared to traditional processes consisting of the use of regrind or virgin resin, purging compounds facilitate the removal of carbon and color deposits in the final products.  This leads to fewer rejects and eliminates material waste to a large extent. In addition, the use compounds also prevents screw-pulls. Furthermore, this helps to keep injection molding machines in good condition, thereby decreasing machine overhaul time. The choice of an effective purging compound depends on the specific type of raw materials to be purged off. Polyolefins, high temperature resins, and engineered resins are some of the key polymers that need to be purged off.  The demand for improving production efficiencies and reducing cost is a key factor boosting the adoption of purging compounds in the plastics industry.

Purging compounds are chemical cleaning compounds that contain certain resins and additives in their formulation. They are widely used with various polyolefins such as thermoplastic olefin (TPO), polypropylene (PP), and polyethylene (PE); high temperature resins such as polysulfones (PSU) and polyether ether ketone (PEEK); and engineered resins such as high impact poly styrene (HIPS) and polyamide (PA). Purging compounds are extensively employed to clean extruder lines and molder machines. Furthermore, these compounds are used to clean palletizing units in various chemical operations. They are also employed to clean carbon deposit and to bring about color and material changes. Purging compounds help clear machines in quicker time. They are also more efficient compared to traditional cleaning methods such as purging with regrind. Benefits of using purging compounds include less scrap, reduced downtime, low production cost, and less material waste.

The global purging compound market can be segregated in terms of product and process. In terms of product, the market can be categorized into mechanical purging, chemical purging or foaming purging, and liquid purging. Mechanical purging compounds generally contain high-viscosity polymers and are used to eliminate scrap materials from screws, dies, and barrels. They do not require any residence time and neither aid in chemical reactions. Chemical purging compounds contain ammonia and other foaming agents that need residence time of 15 minutes to 30 minutes. These compounds facilitate chemical reactions and eliminate residue by reducing viscosity and molecular weight of the scrap material. They are used typically in low pressure areas. Chemical purging is the leading product segment of the purging compounds market, followed by mechanical and liquid purging. Growth of the chemical purging segment can be ascribed to its features such as high moldability rate. Based on process, the market can be split into extrusion, blow molding, and injection molding. Demand for purging compounds in the injection molding process is expected to rise significantly during the forecast period. Injection molding process is one of most popular processes for producing plastic parts. It involves many machine tools and configurations that need continuous scrap removal and carbon cleaning. Adoption of injection molding in the extrusion process is anticipated to increase, as it offers certain benefits such as fast contaminant removal.

Rapid growth in the chemical industry coupled with increasing demand for cost effective scrap removal solutions from equipment to control corrosion and carbon deposition are driving the purging compound market. Furthermore, increase in mergers and acquisitions to enhance product offerings is another factor positively influencing the market. For instance, Chem-Trend L.P, a leading manufacturer of purging compounds, acquired Moulds Plus International’s business Ultra Purge’ in 2016 to broaden its thermoplastic processing portfolio. Volatility in raw material prices due to variations in crude oil prices may hamper market growth. There exists intense competition in the purging compound market. Manufacturers are focusing towards improvement and development of innovative product as per consumer requirement. All these factors are responsible for market’s growth

In terms of region, the purging compound market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In terms of consumption, North America is the leading region, followed by Europe and Asia Pacific. High number of plastic processing plants coupled with rising demand for purging compounds, typically in engineering thermoplastics, is propelling the purging compound market in North America. The purging compound market in Asia Pacific is expected to expand significantly due to the rapid industrialization, which can lead to expansion of various industries such as petrochemicals, chemicals, and automotive. Latin America and Middle East & Africa are the lucrative regions of the purging compounds market due to the revival in their economy and rising investment by various manufacturers. Increase in research & development and brand promotion are likely to create new avenues for manufacturers of purging compounds.

Key players operating in the global purging compound market are Chem-Trend L.P, Dyna-Purge, Asahi Kasei Corporation, and VELOX GmbH.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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