Southeast Asia Plastic Compounding Market Size, Share & Trends Analysis Report By Product (Polyethylene, Elastomers, Ethylene Vinyl Acetate, Polypropylene, Thermoplastic Vulcanizates), By Application, By Country, And Segment Forecasts, 2023 - 2030

Research Methodology

A three-pronged approach was followed for deducing the Southeast Asia plastic compounding market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for Southeast Asia plastic compounding market to gather the most reliable and current information possible.

• We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
• We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
• We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
• We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
• We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of Southeast Asia plastic compounding market data depending on the type of information we’re trying to uncover in our research.

• Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

• Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

• Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

• Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

• Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

• Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

• This step also entails the finalization of the report scope and data representation pattern.

• Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Southeast Asia Plastic Compounding Market Categorization:

The Southeast Asia plastic compounding market was categorized into three segments, namely product (Polyethylene, Elastomer, Ethylene Vinyl Acetate, Polypropylene, Thermoplastic Vulcanizates, Thermoplastic Polyolefins, Polyvinyl Chloride, Polystyrene, Polyethylene Terephthalate, Polybutylene Terephthalate, Polyamide, Polycarbonate, Acrylonitrile Butadiene Styrene), application (Automotive, Building & Construction, Electrical & Electronics, Packaging, Consumer Goods, Industrial Machinery, Medical Devices, Optical Media), country (Thailand, Indonesia, Malaysia, Vietnam, Singapore, Philippines).

Segment Market Methodology:

The Southeast Asia plastic compounding market was segmented into product, application, and country. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

• Demand estimation of each product across countries/regions summed up to from the total market.

• Variable analysis for demand forecast.

• Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

• Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

• Used extensively for new product forecasting or analyzing penetration levels.

• Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

• Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

• This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The Southeast Asia plastic compounding market was analyzed at a regional level. These regions were further divided into six countries, namely, Thailand; Indonesia; Malaysia; Vietnam; Singapore; Philippines.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Southeast Asia plastic compounding market companies & financials:

The Southeast Asia plastic compounding market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

• BASF SE - Founded in 1865, BASF SE is a Germany-based company with its headquarters in Ludwigshafen. The company is involved in the manufacture of a wide variety of products, including petrochemicals, catalysts, nutrition products, coatings, monomers, intermediates, construction chemicals, performance materials & chemicals, dispersions & pigments, crop protection products, and personal care chemicals. BASF SE has organized its operations into five distinct segments: functional materials & solutions, chemicals, agricultural solutions, performance products, and oil & gas. These products cater to a diverse range of industries such as agriculture, automotive & transportation, pharmaceuticals, oil & gas, food & beverages, and construction. The functional materials & solutions segment encompasses performance materials and monomers. Plastics fall under the performance materials division, and the company’s plastic product portfolio comprises performance polymers, plastic additives, and polyamides & intermediates. These products are utilized in various industries including automotive & transportation, construction, electrical & electronics, and consumer goods.

• SABIC - Established in 1976, SABIC is a Riyadh-based company in Saudi Arabia. It operates in five key sectors: polymers, chemicals, specialties, agri-nutrients, and metals. The products produced under these sectors serve a variety of industries including agriculture, construction, automotive, consumer goods, electronics, healthcare, and packaging. The polymers sector offers plastic products such as acrylonitrile butadiene styrene (ABS), polybutylene terephthalate (PBT), polycarbonate (PC), polyethylene (PE), polyethylene terephthalate (PET), polypropylene (PP), polystyrene (PS), and polyvinyl chloride (PVC). These products are primarily used in the automotive, construction, and consumer goods & packaging industries. SABIC has a global presence with 3 manufacturing facilities in the Asia Pacific (China, Japan, and South Korea), 9 in America, and 13 in Europe. As of March 2018, SABIC employed 35,000 people and operated in more than 50 countries.

• RTP Company, Inc. - Founded in 1982, RTP Company is a U.S.-based company with its headquarters in Winona, Minnesota. The company specializes in the production of engineered thermoplastics and unique compounds, serving a variety of sectors such as automotive, home and office appliances, consumer electronics, and semiconductors. Its product range includes color & masterbatches, conductive compounds, thermoplastic elastomers, flame retardant compounds, high-temperature compounds, structural compounds, wear-resistant compounds, as well as films and sheets. These products are used across multiple industries such as automobile, electronics, energy, and healthcare. Initially, RTP Company processed fabric for lubricating railroad wheels. Over time, it expanded its operations to manufacture Fiberite thermoset plastics, eventually transforming into a global thermoplastic compounding company. RTP Company has a wide operational footprint, with facilities in China, the U.S., Mexico, Singapore, Brazil, Germany, France, and other locations. It boasts 18 facilities in various regions including Minnesota, Texas, France, Illinois, Germany, Mexico, China, Singapore, Virginia, and Indiana.

• The 3M Company - The 3M Company, a diversified technology firm, was founded in 1902 and is based in Minnesota, U.S. It was formerly known as the Minnesota Mining and Manufacturing Company until it changed its name to 3M Company in 2002. The company’s operations span five business segments: industrial, consumer, health care, safety and graphics, and electronics and energy, which contributed 37.4%, 20.8%, 18.4%, 16.7%, 14.6%, and 0.2% respectively to the net sales in 2018. Its products cater to a wide range of industries including automotive, commercial solutions, communication, design & construction, electronics, energy, healthcare, manufacturing, mining, oil & gas, safety & graphics, transportation, and more. The industrial segment encompasses products such as plastics, tapes, paints & coatings, bonded and non-woven abrasives, advanced ceramics, adhesives & sealants, and specialty materials, among others. These products serve various end-use industries such as automotive OEM, automotive aftermarket, electronics, paper and printing, consumer appliances, food and beverage, packaging, and construction. 3M Company has sales and manufacturing units in over 70 countries across North America, Europe, Asia Pacific, and the Middle East & Africa. It is consistently involved in research & development across more than 46 technology platforms including abrasives, adhesives, electronics & software, nanotechnology, nonwoven materials, and surface modification. As of the end of 2018, the company employed approximately 93,516 people.

• Teijin Plastics - Teijin Limited, a part of the Teijin Group Companies, was established in 1918. It has three main offices, two in Osaka, U.S., and one in Tokyo, Japan. The company’s operations are divided into three sectors: materials, healthcare, and information technology & others. Its products serve a wide range of industries including automotive, aerospace, electronics, construction, energy, medical, consumer goods, textile, utility, food, packaging, and IT. The materials sector encompasses aramid, carbon fibers, films & sheets, resins, flame retardants & additives, composites, and fibers & products converting. The films & sheets are made from materials such as polyester, polyethylene terephthalate (PET), polycarbonate (PC), and polyethylene naphthalate (PEN), which find applications in industries such as automotive, construction, packaging, and electronics. As of March 2018, the Teijin Group Companies is composed of 163 companies worldwide with a workforce of 19,711 employees. The group has 8 manufacturing plants in Japan and sales facilities globally.

• LyondellBasell Industries N.V. - LyondellBasell Industries N.V., a multinational chemical and polymer production company, was founded in 1985 and has its headquarters in Rotterdam, Netherlands. The company came into existence when Basell Polyolefins acquired Lyondell Chemical Company in 2007. It operates in six key business areas: olefins & polyolefin - Americas (O&P - Americas), olefins & polyolefin - Europe, Asia and international (O&P - EAI), intermediates & derivatives (I&D), advanced polymer solutions (APS), refining, and technology. The company serves a wide range of markets including plastics, rubber, personal care, packaging, electronics, building and construction, adhesives & sealants, automotive, paints & coating, pharmaceuticals, and textiles, among others. The product portfolio of O&P - Americas, and O&P - EAI segments includes olefins and co-products, polypropylene, and polyethylene. The I&D segment offers products such as propylene oxide & its derivatives, oxyfuels & related products, and intermediate chemicals, such as acetyls, styrene monomer, ethylene glycol, and ethylene oxide.

• Kraton Polymers Inc - Kraton Polymers Inc., a Minnesota-based company, was founded in 1942 as a division of the Shell Company. It initially produced synthetic styrene butadiene rubber for military vehicle tires during World War II. The company specializes in the production of polymers and chemicals and operates in two main business segments: specialty polymers and bio-based chemicals. These polymers are used in various industries including footwear, paints & coatings, industrial materials, construction, medical, and pharmaceuticals, among others. Kraton has manufacturing facilities in the U.S., Germany, France, Japan, and Brazil, and operates leased facilities through a joint venture with JSR Corporation. It also maintains research and development facilities in Houston, Texas, and Amsterdam, and provides technical services from its facilities in Belgium.

• Polyplastics Asia Pacific Sdn Bhd - Established in 1997, Polyplastics Asia Pacific Sdn Bhd is a subsidiary of Polyplastics Co., Ltd., with its headquarters in Kuala Lumpur, Malaysia. The company specializes in the production and distribution of polymers and engineering plastics across Southeast Asia. Its product range includes acetal copolymer (POM), glass fiber reinforced polyethylene terephthalate (GF-PET), polybutylene terephthalate (PBT), polyphenylene sulfide (PPS), liquid crystal polymer (LCP), and cyclic olefin copolymer (COC). These products find applications in various industries such as automotive, construction, electronics, consumer goods, and industrial manufacturing. As of April 2018, the Polyplastics Group employs 2,033 people and has operations in five regions: Asia Pacific, North America, Latin America, Europe, and the Middle East & Africa.

• C. Melchers GmbH & Co. - Founded in 1958, C. Melchers GmbH & Co. is a Malaysia-based company with its headquarters in Selangor. The company specializes in distributing a diverse array of products such as machinery, testing & construction equipment, industrial materials, and luxury goods within Malaysia and exports these products globally. Its clientele includes suppliers, manufacturers, and end users across various industries such as construction, oil & gas, industrial manufacturing, energy, and heavy engineering, to name a few. C. Melchers GmbH & Co. operates four facilities in Malaysia, located in Kuala Lumpur, Johor Bahru, Petaling Jaya, and Penang. In addition, it has a global presence with over 50 subsidiaries worldwide.

• Helistrom Sdn Bhd - Established in 2000 and based in Senai, Malaysia, Helistrom Sdn Bhd specializes in the production and distribution of color compounds for engineering polymers throughout the Asia Pacific region. The company operates under two main divisions: core business products and color compounding. The core business product division encompasses Base Polymers, Additives, Fillers/Reinforcements, and Colorants (effects). These products find their applications in various areas such as plastic resins, labels, and cleaning agents, to name a few. On the other hand, the color compounding division deals with additives, enhancers & colorants, and fillers. These products serve a wide range of industries including construction, automotive, electrical & electronics, industrial manufacturing, domestic appliances, and packaging. Helistrom Sdn Bhd’s clientele includes prominent companies such as Sanyo, Philips, HP, Panasonic, Nikon, Emerson, Flextronics, and Foxconn.

Value chain-based sizing & forecasting

Supply Side Estimates

• Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

• Segment revenue determination via variable analysis and penetration modeling.

• Competitive benchmarking to identify market leaders and their collective revenue shares.

• Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

• Identifying parent markets and ancillary markets

• Segment penetration analysis to obtain pertinent

• revenue/volume

• Heuristic forecasting with the help of subject matter experts

• Forecasting via variable analysis

Southeast Asia Plastic Compounding Market Report Objectives:

• Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

• Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

• Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Southeast Asia Plastic Compounding Market Report Assumptions:

• The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

• The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

• We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

• All market estimates and forecasts have been validated through primary interviews with the key industry participants.

• Inflation has not been accounted for to estimate and forecast the market.

• Numbers may not add up due to rounding off.

• Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

• Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

• Latin America includes Central American countries and the South American continent

• Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

• Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

• Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.