Global Plastic Additives market expected to record a CAGR of ~6% during the forecast period (2017-2028): Ken Research
What Is the Size of Global Plastic Additives industry?
Global Plastic Additives market is growing at a CAGR of ~% in 2017-2022 and is expected to reach ~USD Bn by 2028F.
The Plastic Additives Market is largely driven by increasingly adoption of plastic additives by numerous industries, including construction, consumer goods, packaging, and automotive and the rising demand for additives in polymers for various applications.
Moreover, the demand for small, compact residential buildings is expanding along with urbanization. Plastic is utilized in residential buildings for a variety of functions, including insulation, wiring & cables, electrical switches, and water pipes, and is, therefore, pushing up the demand for plastic additives to alter the strength and longevity of plastics.
According to teriin.org, The majority of plastic garbage is produced by households, primarily in the form of water and soft drink bottles. The market is currently subject to several new laws, some of which are projected to have a detrimental impact on sales of plastic additives. Restrictions on different plastic additives, including specific types of flame retardants and plasticizers, have been backed by several scientific investigations.
Furthermore, During the lockdown, the raw material supply was disrupted, which had an impact on the production of these additives and derivatives. However, the resurgence of manufacturing and construction, have supported the market and is expected to positively impact the growth in coming years.
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Global Plastic Additives market By Type
The Global Plastic Additives market is segmented by Type into Plasticizers, Stabilizers, Flame Retardants, Impact Modifiers and Others.
Plasticizers type segment held the largest share of the Global Plastic Additives Market in 2022.
Demand for plasticizers is increasing mainly due to their increasing adoption in high-volume flexible PVC products. According to plasticseurope.org, the world produced 367 million tons of plastic in 2020, an increase of 32 million tons over 2016. Polyvinyl chloride, or PVC, which is the fourth most prevalent plastic in the world, received 10% of this total. PVC is frequently used in the manufacture of toys, cables, packaging, flooring, and other items.
Global Plastic Additives Market By Plastic Type
The Global Plastic Additives Market is segmented by Plastic type into Commodity Plastic, Engineering Plastic and High-Performance Plastic.
High-performance polymers plastic type segment held the largest market share in the Global Plastic Additives Market in 2022.
High-performance polymers can function at temperatures as high as 300°C, having an advantage over commercially available high-temperature polymers including modified high-performance thermoplastics and heat-resistant compounds.
The segment’s revenue growth is expected to be further fueled by their superior ability to withstand high temperatures compared to other polymers across a variety of end-use industries, such as oil and gas, nuclear, aerospace, and chemicals.
Global Plastic Additives Market By Application
The Global Plastic Additives market is segmented by Application into Packaging, Food, Consumer Goods, Construction, Automotive and Others.
The packaging application segment held the largest market share in the Global Plastic Additives Market in 2022.
Rise in the adoption of sales from e-commerce platforms, requiring additional packaging is increasing the adoption of plastic additives in packaging materials to make them strong, durable, and eco-friendly. Also in the pandemic time, due to hygiene concerns, the pandemic has caused a resurgence of single-use plastic bags and boxes, favorably affecting the use of plastic packaging in e-commerce and turn positively impacting the plastic additives market.
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Key Topics Covered in the Report
- Snapshot of Global Plastic Additives Market
- Industry Value Chain and Ecosystem Analysis
- Market size and Segmentation of Global Plastic Additives Market
- Historic Growth of the Overall Global Plastic Additives Market and Segments
- Competition Scenario of the Market and Key Developments of Competitors
- Porter’s 5 Forces Analysis of the Global Plastic Additives Market
- Overview, Product Offerings, and SWOT Analysis of Key Competitors
- Covid-1919 Impact on the Overall Global Plastic Additives Market
- Future Market Forecast and Growth Rates of the Total Global Plastic Additives Market and by Segments
- Market Size of Plastic Type / Application Segments with Historical CAGR and Future Forecasts
- Analysis of Plastic Additives Market in Major Regions
- Major Production / Consumption Hubs in the Major Regions
- Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
- Overview of Notable Emerging Competitor Companies within Each Major Country
Major Companies Profiled in the Report
- BASF SE
- The DOW Chemical Company
- AkzoNobel
- Clariant AG
- Nabaltec
- Mitsui Chemicals
- LANXESS AG
- Repi S.r.l.
- Songwon Industrial Co. Ltd.
- Albemarle Corporation
- Kaneka Corporation
Notable Emerging Companies Mentioned in the Report
- Baerlocher China
- Nanjing Union Rubber Chemicals Co. Ltd. (NURCHEM)
- Van Horn, Metz & Co., Inc.
- K-Tech (India) Limited
- Flamingo Additives & Colourants LLP
- Deifel GmbH & Co. KG
- Newos GmbH
Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report
- Plastic Additive Manufacturers
- Packaging Manufacturers
- Plastic Manufacturers
- Chemical Companies
- Government Ministries and Departments of Chemical Industry
- Sustainability Researchers
- Food Processing Companies
- Vehicle Manufacturers
- Construction Dealers
- Commodity Plastic Manufacturers
- Engineering Plastic Manufacturers
- High-Performance Plastic Manufacturers
- Petrochemical Companies
Time Period Captured in the Report
- Historical Period: 2019-2021
- Forecast Period: 2022E-2030F
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