A purging compound is a specific type of ingredient specifically formulated for cleaning plastic machinery and extruders. Several common additives and base resins are mixed in this formula to clean screws, barrel, and die. This compound is typically used towards pre-hot lamination cleaning. The most effective cleaning action on plastic extruded parts is the hot water extraction technique.
Hot water extraction technique uses high pressure steam cleaning power along with the regular water flow. It can remove organic solids and stains from the parts to get better cleaning results. The cleaning power of this cleaning method is about one third of that of hot water extraction process. It also enhances the color change property of the part by getting rid of the pigment granules that form when cleaning resin or metal parts. This helps to increase the luster of the part making it look as good as new.
Market Dynamics
Investment in clear plastic sheeting maker integrated packaging films due to emergence of Covid-19 is expected to propel growth of the purging compounds market. For instance, in November 2020, The Ontario (Canada) provincial government announced to invest US$ 350,000 in clear plastic sheeting maker Integrated Packaging Films of Ayr, Ont., to help the firm with the production of an additional four million face shields per month for use during the second wave of COVID-19.
Moreover, significant growth in the construction sector is also expected to propel growth of the purging compounds market. For instance, according to the U.S. Census Bureau, from 2000 to 2018, the U.S. population increased by 16.3%, while the number of housing units increased by 19.5%.
However, significant decline in the automotive sector is expected to hinder growth of the purging compounds market. For instance, according to the Society of Motor Manufacturers and Traders, the new car registrations in the U.K. decreased by 44% in March 2020 compared that in March 2019.
Among regions, North America is expected to witness significant decline in the purging compounds market, as sales of motorcycles and cars witness downward trend. For instance, Yamaha Motor Co. has projected that the company’s motorcycle sales will drop 4.7% to 60,000 units in North America in 2020. During the fiscal year ended December 31, 2019, motorcycle sales dropped 6.3% to 63,000 units year over year. Similarly, Harley-Davidson Inc. reported that retail sales volumes dropped 4.3% in 2019 from 2018.
Competitive Analysis
Major players operating in the purging compounds market include, Asahi Kasei Corporation, Clariant A.G., CALSAK Corporation, Daicel Corporation, DowDuPont Inc., Formosa Plastics Corporation, Kuraray Co., Ltd., Chem-Trend L.P., Polyplast Muller GmbH, Asahi Kasei Asaclean Americas, and Claude Bamberger Molding Compounds Corporation.
July 2020: Sun Plastech Inc., the manufacturer and distributor of Asaclean purging compounds, changed its name, and logo, to Asahi Kasei Asaclean Americas, effective August 1.
In-depth report on Purging Compound Market by Coherent Market Insights:
https://www.coherentmarketinsights.com/ongoing-insight/purging-compound-market-1472
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