Plastic Additives Market by Type (Plasticizers, Stabilizers, Flame Retardants, Impact Modifiers, and Others) and by Application (Packaging, Automotive, Consumer Goods, Construction, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025

Global plastic additives market expected to reach around USD 61.25 billion by 2025, at a CAGR of 4.9% between 2019 and 2025. Plastic additives are used in a wide range of applications ranging from building, packaging containers to consumer and electronics equipment, company machines and automotive components.

05-Jul-2019 | Number of pages: 110 | Report Code: ZMR-1300 | Report Format : | Status : Published

Analysis

Plastic additives are chemical substances that are added to the polymer during a chemical reaction. These additives improve the polymer’s strength, heat sensitivity, and durability. Reducing mineral ore reservoirs resulted in higher metal equipment costs leading to the enhanced implementation of plastic additives, replacing metal equipment.

The global plastic additives market is projected to grow rapidly in the years ahead, owing to the rising disposable income of consumers coupled with increasing consumption of plastic worldwide. Moreover, the growing awareness about food contamination from plastic containers and the adverse impacts of plastic on health due to the loosely sold food products are expected to further enhance the plastic additives market growth globally. Additionally, the flourishing packaging industry across the globe is also likely to accelerate the growth of the plastic additives market. However, the environmental regulations for plastics may hamper the plastic additives market growth across the globe in the future. Alternatively, technological advancements related to plastic additives are anticipated to offer new opportunities for market growth in the years to come.

The global plastic additives market is divided based on type and application. Based on type, the market for plastic additives is classified into flame retardants, plasticizers, stabilizers, impact modifiers, and others. Plasticizers dominated the global plastic additives market in 2018 and are expected to maintain their dominance in the upcoming years as well. Plasticizers enhance the rigidity of plastics and act as plastic modifiers. Moreover, the flame retardants segment is projected to grow at the fastest pace over the forecast time period. Based on application, the plasticizers market is fragmented into packaging, automotive, consumer goods, construction, and others. The increasing use of plastic additives, especially in packaging solutions, is anticipated to majorly fuel the packaging segment in the global plastic additives market in the upcoming years. Moreover, the consumer goods segment is likely to register the highest growth rate over the next few years.

In 2018, Asia Pacific dominated the global plastic additives market. This can be attributed to the region’s flourishing packaging industry coupled with the substantial developments witnessed in the retail industry. Additionally, the increasing demand for plastic additives by the construction industry is estimated to further propel the Asia Pacific plastic additives market growth in the future.

Some key players of the global plastic additives market are SONGWON, Evonik Industries, Styro Chemical Industries, BASF, Albemarle Corporation, AkzoNobel, Solvay, L. N. Chemical Industries, Clariant AG, and PMC Group.


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