The plastic additives market is projected to reach USD 59.9 billion by 2026, at a CAGR of 5.6% from USD 45.6 billion in 2021.
Growth of the plastic additives market is primarily triggered by rising demand from the packaging sector. Packaging is widely used for industrial and household purposes, Changes in lifestyle and globalization have triggered growth of the packaging industry, which has boosted the plastic additives market. The plastic additives market is also driven by the increasing use of plastics in day-to-day applications. Some of the common applications of plastic additives are roofing, storage containers, pipes, cables, electronics, toys, kitchenware, safety gear, cosmetic articles, household products, seat belts, door panels, greenhouse films, and silage sheet. The market is also driven by the rapidly developing industrial sector in emerging economies such as India, Brazil, and Mexico.
The key players in this market are BASF SE (Germany), Clariant AG (Switzerland), Albemarle Corporation (U.S.), Songwon Industrial Co. Ltd. (South Korea), Nouryon (Netherland), LANXESS AG (Germany), Evonik Industries AG (Germany), Kaneka Corporation (Japan), and The Dow Chemical Company (U.S.). The global and regional players have sizable shares in the plastic additives market. The key players in the market are focusing on strategies, such as new product launches, partnerships & agreements, acquisitions, and expansions, to expand their businesses globally.
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Players in the plastic additives market are mainly concentrating on new product launches, acquisitions, and collaboration to meet the growing demand for various end-use industries. New product launches help companies to strengthen their product portfolio and meet the specific demands of customers.
The growth of the plastic additives market has been largely influenced by new product launches that were undertaken between 2016 and 2020. Companies such as Ampacet Corporation and Avient Corporation have adopted new product launches to enhance their market position.
BASF SE is the largest manufacturer of plastic additives, with operations in over 80 countries. The company’s strong R&D capabilities enable it to provide innovative solutions and meet the changing market demands in the short- and long-term by building a strong technology base. The company operates through seven business segments: chemicals, materials, industrial solutions, surface technologies, nutrition & care, agricultural solutions. and others. BASF offers plastic additives through its industrial solutions segment. It primarily operates in Europe and has an active presence in North America, Asia Pacific, South America, Africa, and the Middle East countries. BASF SE constructed a new plant for plastic additives business in Pontecchio Marconi Italy. This expansion will help to strengthen the company’s position of light stabilizer. With this expansion they will be able to deliver wider range of NOR solutions increase the revenue. In April 2021, BASF SE launched biomass balanced plasticizers with renewable raw materials saving the fossil resources and reducing co2 emission. This will help company in contributing towards recycling of plastic waste and increase the use of renewable raw materials.
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The Dow Chemical Company consistently innovates and develops new products. The company has been focusing on new product development and investing in R&D initiatives to manufacture plastic additives based on innovative technologies. The company serves various end-use industries, including appliance, automotive, agricultural, construction, chemical processing, electronics, oil & gas, packaging, paints & coatings, personal care, and pharmaceutical. The company’s operations including production unit and sales offices are spread across North America, Latin America, Europe, the Middle East & Africa, and Asia Pacific. The company has been actively investing in the production of new plastic additives with superior properties. It focuses mostly on the North American and European markets but is now slowly moving toward the growing Asia Pacific and Latin America regions.
The plastic additives market size is estimated to be USD 45.6 billion in 2021 and is projected to reach USD 59.9 billion by 2026, at a CAGR of 5.6% between 2021 and 2026. Growth of the plastic additives market is primarily triggered by rising demand from the packaging sector. Packaging is widely used for industrial and household purposes, Changes in lifestyle and globalization have triggered growth of the packaging industry, which has boosted the plastic additives market. The plastic additives market is also driven by the increasing use of plastics in day-to-day applications. Some of the common applications of plastic additives are roofing, storage containers, pipes, cables, electronics, toys, kitchenware, safety gear, cosmetic articles, household products, seat belts, door panels, greenhouse films, and silage sheet. The market is also driven by the rapidly developing industrial sector in emerging economies such as India, Brazil, and Mexico.
Additives are used to improve the properties of polymer to enable production of better finished products. The plastic additives market is segmented into five-six categories on the basis of type: plasticizers, stabilizers, flame retardants, impact modifiers, blowing agents, nucleating agents and others. Of Among these categories, plasticizers are is the most widely used type of plastic additives type, followed by flame retardants. A major part of plasticizers is used in polyvinyl chloride. Plasticizers are highly used in manufacturing PVC products for construction applications. The plastic market heavily depends on additives to strengthen the properties of plastic to be used for several applications such as food packaging, automotive interiors and exteriors, storage containers, homecare, and industrial equipment. All these products are manufactured from polymers that are mixed with a complex blend of materials called additives to enhance their physical or chemical structure. Plastic additives impart unique properties to the polymer to which they are added.
The plastic additives market is segmented into three categories on the basis of plastics: commodity, engineering, and high-performance plastics. Manufacturers produce different types of additives depending on the plastic grade and specific application. The demand for commodity plastics is expected to grow due to the increasing use of polyolefin plastic packaging in food & beverages and pharmaceutical applications. Commodity plastics are widely used thermoplastics. They are produced in large volume owing to their low raw material cost and abundant availability. The most common commodity plastics are PS, PE, PP, PVC, ABS, and PMMA. . Engineering plastics which possess excellent physical properties for efficient and prolonged use. These polymers are capable of working under wide temperature ranges, various mechanical stresses and in various chemical environments. High-performance plastics are thermally stable plastics, which can withstand temperatures above 1500C. These plastics have superior mechanical properties.
The plastic additives market is segmented on the basis of major five applications: packaging, construction, consumer goods, automotive, agriculture, and others. The increasing use of plasticizers and flame retardants in various applications such as electronic goods, panels, packaging films, bottles, caps, containers, PVC pipes, floor covering, cables, household goods, toys, automotive parts, greenhouse films, and textile fibers is driving the plastic additives market. Plastic additives such as stabilizers, impact modifiers, blowing agents, nucleating agents and others are now widely used in order to enhance the physical and chemical properties of plastics and plastic products. End-use industries such as packaging, consumer goods, and automotive have increased the use of plastics in their end-products.
On the basis of region, APAC is projected to be the largest market for plastic additives market during the forecast period. APAC is the most promising market for plastics and related industries, including plastic additives. It is the largest and fastest-growing market for plastic additives. The increasing demand from packaging, consumer goods, and automotive applications is driving the market for plastic additives in the region. The rising purchasing power of the middle class population also acts as a key market driver. The rising demand for environment-friendly products is driving innovation in the plastics industry. High-end products such as consumer goods and electronic devices demand damage-free surfaces. Thus, the need for anti scratch products arises, which drives the market for plastic additives.
The key players in this market are BASF SE (Germany), Clariant AG (Switzerland), Albemarle Corporation (U.S.), Songwon Industrial Co. Ltd. (South Korea), Nouryon (Netherland), LANXESS AG (Germany), Evonik Industries AG (Germany), Kaneka Corporation (Japan), and The Dow Chemical Company (U.S.).They have adopted strategies such as and new product launches, acquisitions, and expansion in order to gain an advantage over their competitors.
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UpMarketResearch offers a latest published report on “Global Plastic Additives Market Industry Analysis and Forecast 2018-2023” delivering key insights and providing a competitive advantage to clients through a detailed report.
It presents a comparative detailed analysis of all the regional and major player segments, offering readers a better knowledge of areas in which they can place their existing resources and gauging the priority of a particular region in order to boost their standing in the global market.
The numerical data is backed up by statistical tools such as SWOT analysis, BCG matrix, SCOT analysis, PESTLE analysis and so on.
The statistics are represented in graphical format for a clear understanding on facts and figures.
The generated report is firmly based on primary research, interviews with top executives, news sources and information insiders.
Region-wise Analysis Global Plastic Additives Market covers: • North America• Europe• China• Japan• Southeast Asia• India The Report covers in-depth analysis as follows: • Chapter 1 Plastic Additives Market Overview• Chapter 2 Global Economic Impact on Plastic Additives Industry• Chapter 3 Global Plastic Additives Market Competition by Manufacturers• Chapter 4 Global Plastic Additives Production, Revenue (Value) by Region (2013-2018)• Chapter 5 Global Plastic Additives Supply (Production), Consumption, Export, Import by Regions (2013-2018)• Chapter 6 Global Plastic Additives Production, Revenue (Value), Price Trend by Type• Chapter 7 Global Plastic Additives Market Analysis by Application• Chapter 8 Global Plastic Additives Manufacturers Analysis• Chapter 9 Plastic Additives Manufacturing Cost Analysis• Chapter 10 Industrial Chain, Sourcing Strategy and Downstream Buyers• Chapter 11 Marketing Strategy Analysis, Distributors/Traders• Chapter 12 Market Effect Factors Analysis• Chapter 13 Global Plastic Additives Market Forecast (2018-2023) Buy this report@ https://www.upmarketresearch.com/buy/Global-Plastic-Additives-Industry-Market-Analysis-Forecast-2018-2023“Global Plastic Additives Market Industry Analysis and Forecast 2018-2023” report helps the clients to take business decisions and to understand strategies of major players in the industry.
The global plastic additives market size is projected to reach USD 74.61 billion by 2027, exhibiting a CAGR of 6.2% during the forecast period.
Escalating demand for personal protective equipment (PPE) amid the COVID-19 pandemic is expected to propel the growth of this market, states Fortune Business Insights™ in its report, titled “Plastic Additives Market Size, Share & Industry Analysis, By Type (Plasticizers, Flame Retardants, Stabilizers, Impact Modifiers, Others), By End-Use (Packaging, Construction, Automotive, Consumer Goods, Others), and Regional Forecast, 2020-2027”.
In March 2020, the World Health Organization (WHO) estimated that 89 million medical masks, 76 million disposable gloves, and 1.6 million goggles will be required each month to fight the pandemic.
Plastic additives are playing a critical role in the manufacturing of PPE for frontline healthcare workers as these materials are easy to produce, are resistant to chemicals and toxic substances, and effectively prevent the transmission of the infection between health workers and patients.
The soaring demand for this equipment has triggered innovation not only in large companies but also among small, emerging players.
For example, in April 2020, the team researchers from India’s IIT Kanpur and industry partners designed the Polyethylene-based Improvised Protective Equipment under Scarcity (PIPES) made from the non-porous polyethylene material.
