Plastic additives are the materials or agents added to the plastic to improve, retain, or modify the properties of the plastic. Plastic additives improve processing conditions, stability, curb surface tension, control blocking, protect from getting oxidized, ensure resistance from flames, and provide the required stability to the final product. Plastics cannot work without additives. With the help of additives, plastics can be made safer, cleaner, tougher, and colorful.
Market Analysis and Insights: Global Plastic Additives Market
Due to the COVID-19 pandemic, the global Plastic Additives market size is estimated to be worth US$ 40910 million in 2022 and is forecast to a readjusted size of US$ 48290 million by 2028 with a CAGR of 2.8% during the forecast period 2022-2028. Fully considering the economic change by this health crisis, Plasticizers accounting for % of the Plastic Additives global market in 2021, is projected to value US$ million by 2028, growing at a revised % CAGR from 2022 to 2028. While Packaging segment is altered to an % CAGR throughout this forecast period.
Currently, Asia-Pacific is the largest market for plastic additives. The growing packaging industry coupled with the increased demand from the retail industry drives the market of plastic additives in the region. Polymer industries are witnessing high growth in developing nations such as India and Brazil due to their growing economies. The Middle East & Africa is projected to be the second-fastest growing market for plastic additives between 2018 and 2023. This growth is attributed to rising packaging and automotive sectors in the region.
Global Plastic Additives Market: Drivers and Restrains
The research report has incorporated the analysis of different factors that augment the market’s growth. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. This section also provides an analysis of the volume of production about the global market and about each type from 2017 to 2028. This section mentions the volume of production by region from 2017 to 2028. Pricing analysis is included in the report according to each type from the year 2017 to 2028, manufacturer from 2017 to 2022, region from 2017 to 2022, and global price from 2017 to 2028.
A thorough evaluation of the restrains included in the report portrays the contrast to drivers and gives room for strategic planning. Factors that overshadow the market growth are pivotal as they can be understood to devise different bends for getting hold of the lucrative opportunities that are present in the ever-growing market. Additionally, insights into market expert’s opinions have been taken to understand the market better.
Global Plastic Additives Market: Segment Analysis
The research report includes specific segments by region (country), by manufacturers, by Type and by Application. Each type provides information about the production during the forecast period of 2017 to 2028. by Application segment also provides consumption during the forecast period of 2017 to 2028. Understanding the segments helps in identifying the importance of different factors that aid the market growth.
Segment by Type
Plasticizers
Stabilizers
Flame Retardants
Impact Modifiers
Others
Segment by Application
Packaging
Automotive
Consumer Goods
Construction
Others
By Company
BASF
Clariant
The Dow Chemical Company
Evonik Industries
ExxonMobil
LANXESS
Mitsui Chemicals
Adeka Corporation
AkzoNobel
Albemarle Corporation
Baerlocher Group
Emerald Performance Materials
Grafe Advanced Polymers
Kaneka Corporation
Milliken
PolyOne
Sabo
Sakai Chemical Industry
Songwon
Production by Region
North America
Europe
China
Japan
Consumption by Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
India
Australia
Taiwan
Indonesia
Thailand
Malaysia
Philippines
Vietnam
Latin America
Mexico
Brazil
Argentina