The global purging compound market is expected to reach USD 707.9 million by 2025, according to a new report by Grand View Research, Inc. The growing plastic processing machinery industry in Asia Pacific is anticipated to be a major driving force triggering market growth.

Injection molding segment has been observing noteworthy growth in the purging compound industry. The growing demand for the mass production of various injection molded parts from end-use industries such as automotive is likely to have a positive impact on the demand for purging products in the industry.

Fluctuating raw material prices are predicted to be the major restraints during the forecast period due to volatility associated with world oil price and production. In addition, the high prices of purging compound are expected to restrain the market growth.

Companies have been adopting various strategies including expansions, acquisitions, mergers, agreements, and joint ventures. For instance, in September 2017, the Dow Chemical and DuPont merged to form Dow DuPont in order to enhance their product offerings and solutions.