Plastic Additives Market Size by Revenue Expected to Reach USD 38.77 Billion by 2026

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CHICAGO, December 2, 2021 / PRNewswire / – The plastic additives market is expected to grow at a CAGR of over 5.24% during the period 2020-2026.

Highlights presented in the report:

  • Flame retardants have become the most important type of additive in the global plastic additive market.
  • Basic plastics reported the maximum plastic additives market share in 2020, and it is expected to grow at a CAGR of 5% during the forecast period.
  • Growing environmental concerns threaten the demand for plastics and plastic additives. Many additives for green plastics are under development to facilitate the decomposition of the polymer matrix after use.
  • Volatile raw material prices, regulatory body regulations and environmental concerns are some of the factors that will hamper the consumption of plastic additives.
  • In 2020, Europe was the second largest consumer market for plastic additives. The significant presence of global automotive and transportation manufacturers and the electronics industry is driving demand for plastic additives in the region.

Key offers:

  • Market Size and Forecast by Revenue | 2020-2026
  • Market dynamics – Key trends, growth drivers, constraints and investment opportunities
  • Market Segmentation – A Detailed Analysis by Additive Type, Plastic Type, Application, and Geography
  • Competitive Landscape – 5 key vendors and other 20 top vendors featured in the report

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Plastic Additives Market – Segmentation

  • The use of flame retardants is expected to grow, as companies have invested heavily in flame retardant infrastructure due to several guidelines issued by governments and regulators. This in turn, will drive the market sales of flame retardant plastic additives.
  • The polyethylene segment recorded the highest share of the basic plastic additives market at $ 4.98 billion in 2020 and will increase at a CAGR of 5.84% during the forecast period.
  • Growing environmental concerns and sustainable development will propel the demand for bioplastic additives and encourage more investment in R&D initiatives.
  • The popular trend of online shopping and consumption of packaged food will drive the growth of the packaging segment in the plastic additives market in the coming years.

Plastic Additives Market by Additive Type

  • Flame retardant
  • Heat stabilizers
  • Impact modifiers and processing aids
  • Lubricating and sliding additives
  • Antioxidants
  • Bulking Agents
  • Antistatic agents
  • Light stabilizers
  • Others

Plastics Additives Market By Plastic Type

  • Plastic material
  • Engineering plastic
  • High performance plastic

Plastics Additives Market By Application

  • Packaging
  • Consumer goods
  • Construction
  • Automotive
  • Others

Plastic Additives Market – Dynamics

Plastic additives are economical and popular solutions for making plastics flexible and durable. Various policies and government interventions in many regions encourage the use of plastic additives in many applications. Governments in various regions are encouraging the use of plastics and strengthening policy measures for investments in their regions. For example, in India, according to the Ministry of Chemicals and Fertilizers, for the promotion of the plastics industry in the country, the government has adopted various policies favorable to the industry, such as deregulation of the petrochemical sector and the authorization of 100% automatic FDI to facilitate new investment ”The global e-commerce industry also uses flexible plastic packaging and has recorded sales of around $ 4.28 trillion in 2020 and should reach US $ 6.38 trillion by 2024. Companies must enter into collaborative partnerships as a key strategy to ensure a lasting presence in the market. Such partnerships or acquisitions will ensure mutual transfer of technology and the delivery of a better product to the plastic additives market.

Key Drivers and Trends Fueling Market Growth:

  • Growing demand for innovative product applications
  • Focus on the development of bio-based plastics
  • Replacement of conventional materials with plastic
  • Profitability and marketing

Plastic Additives Market – Geography

China is the largest consumer of APAC, followed by India, Japan, and South Korea. China has the strong penetration of the electric vehicle market through 2018 and will continue to manufacture the largest number of electric vehicles in the region by 2022. The growing demand for electric cars will be a major factor in driving the growth of plastic additives in APAC. The market for plastic additives in the region will reach $ 20.97 billion by 2026. Europe is a saturated and mature economy. Germany accounted for the largest 24.60% share of the total plastic additives market in Europe. Europe is a major hub for the plastics industry. The plastic additives market in the region is driven by the demand for various plastics from end-use segments such as packaging, building and construction, automotive, electrical and electronics, and consumer goods. consumption. The market in Europe is expected to grow at a CAGR of 3.34% during the forecast period.

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Plastic Additives Market By Geography

  • North America
  • Europe
    • Germany
    • Italy
    • France
    • Spain
    • UK
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • Latin America
  • Middle East & Africa
    • Saudi Arabia
    • United Arab Emirates
    • South Africa

Main suppliers

  • BASF
  • SONGWON
  • Clariant SA
  • Albemarle Company
  • ExxonMobil

Other important suppliers

  • Dow
  • Evonik Industries
  • Nouryon
  • LANXESS SA
  • SABIC
  • Kaneka Corporation
  • ADEKA Company
  • PMC Group
  • Covestro
  • Baerlocher Group
  • ASTRA POLYMERS
  • ENGRAVED
  • Milliken & Company
  • Avient Company
  • SABO
  • Chemical sakai
  • Broadview Technologies
  • Kemipex
  • Ampacet Company
  • Valtris Specialty Chemicals

Explore our chemicals and materials profile to learn more about the industry.

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