The global Plastic Additives Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.
Market Overview:
The global plastic additives market size is expected to value at USD 62.50 billion by 2022. The market is subject to witness a substantial growth due to the increasing demand for various industrial applications such as property modifiers, extenders, stabilizers and processing aids. Advantages of the plastic additives such as resistance to microbial activities, antioxidants, ultra-violet stabilizer, plasticizers, and impact modifiers, which are critical for compound formulations in order to enhance chemical and physical properties, are expected to foster market growth over the forecast period. Globally, the plastic additives market is predicted to grow at CAGR of 4.5% in forecast period, providing numerous opportunities for market players to invest in research and development of the market.
Key Players:
- BASF
- DuPont
- Evonik Industries
- PolyOne Corporation
- The Dow Chemical Company
- ExxonMobil
- Eastman Chemical Company
- Blackwell Plastics
- Kaneka Corporation
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Growth Drivers:
Additionally, increasing industrial activities, growing manufacturing output and strong economic growth in the Asia Pacific region is expected to expand market reach of the plastic additives industry over the forecast period. Favorable laws and regulation by governmental and international authorities such as EC (Beaches European Commission) and amendments in the Restriction of Hazardous Substances (RoHS) that monitors use of plasticizers, flame retardant and other additives are anticipated fuel market growth in the upcoming years.
Yet, the recent technological advancement and introduction of new methodologies for the production of the plasticizers, flame retardant and other additives are anticipated to boost market demand in the upcoming years. Variation in the price of raw materials along with lack of availability are expected to limit market progress substantially. Changing market dynamics regarding availability of raw material in the Middle East region are further negatively affect market growth, in the recent years.
Additionally, easy availability of the alternative products such as polycarbonate (PC) and poly-acrylic (PMMA) coupled with lowered process are further affecting market performance of the plastic additives industry. Although, increasing demand from electrical and electronic manufacturing industry is expected to sustain market the growth of the market over the forecast period.
Function Outlook:
- Property Modifiers
- Property Extenders
- Property Stabilizers
- Processing Aids
Product Outlook:
- Plasticizers
- Flame Retardants
- Antioxidants
- Antimicrobials
- UV Stabilizers
Regional Outlook:
The plastic additives market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in the additives industry, high end-user demand for plasticizers, UV stabilizers, and flame-retardants, and existence of well-established industrial infrastructure.
Asia-Pacific region is predicted to hold major market share with massive growth in forecast period. Countries such as India, China, Malaysia and Indonesia are leading the Asia-Pacific market with strong economic growth, rising industrial output, and significant investment by leading industry players considering potential growth opportunities in the region.
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