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The plastic additives market was valued at USD 28.53 billion in 2020 and is expected to reach USD 38.77 billion by 2026 growing at a CAGR of 5.24%
Due to the growing population, rapid urbanization, and rising middle-class incomes, APAC countries will witness robust demand for plastic additives by end-user markets. To increase the innovative applications and for bioplastics, there will be heavy investments in the research and development of plastic additives in the forecast period. Thus, product growth is expected to remain stable and rising. Also, the innovation and usability of the additives for plastic have increased. This is the only reason why commodity plastics like Polyethylene, Polypropylene, PVC, or Polystyrene can be used in various engineering and even high-performance applications.
The following factors are likely to contribute to the growth of the plastic additives market
- Cost effectiveness and commercialization
- Focus on developing the bio-based plastics
- Innovative Product Applications
- Rising demand for plastics from APAC and other regions
- Replacement of conventional materials with plastic
KEY HIGHLIGHTS
- Various regulations for the VOCs and toxic elements in the plastics have made it necessary for the vendors and manufacturers to invest in bio-based plastics.
- Due to their reliability, longevity, light weightiness, and cost-effectiveness, plastics are replacing materials such as wood and metal more and more often, especially in the construction industry. This will fuel market growth.
- Sectors such as packaging, consumer goods, and building and construction will emerge as major consumers of plastic additives. Factors such as fast-paced consumer lifestyle and technological advances will drive the demand for flexible packaging, e-commerce packaging, food and beverage packaging.
The study considers a detailed scenario of the present plastic additives market and its market dynamics for the period 2021−2026. It covers a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspects of the market. It profiles and examines leading companies and other prominent ones operating in the market.
PLASTIC ADDITIVES MARKET SEGMENTS
The plastic additives market report includes detailed segmentation by-
- Additive Type
- Plastic Type
- Application
- Geography
PLASTIC ADDITIVES MARKET SEGMENTATION
- Lubricant and Slip additives are used in various classes of plastic resins and most profoundly in the commodity plastics for packaging usages. Populus countries of the Asia Pacific will add to the benefit of the market. Rapid urbanization and increasing population will aid the use of plastic resins for packaging purposes and thus will help the market for lubricants and slip additives to flourish in the future.
Market segmentation by Additive Type
- Flame Retardants
- Heat Stabilizers,
- Impact Modifiers and Processing Aids
- Lubricant and Slip Additives
- Antioxidants
- Blowing Agents
- Antistatic Agents
- Light Stabilizers
- Others
Market segmentation by Plastic Type
- Commodity Plastic
- Polyethylene
- Polypropylene
- Polyvinyl Chloride
- Polystyrene
- Engineering Plastic
- Polyamide
- Polycarbonates
- Acrylonitrile Butadiene
- Polyacetal
- Polyoxymethylene
- Polyethylene Terephthalate
- High-Performance Plastic
- High Performance Polyamide
- Polyphenylene sulfide
- Liquid crystal polymer
- Polyimides
Market segmentation by Application
- Packaging
- Consumer Goods
- Construction
- Automotive
- Others
GEOGRAPHICAL ANALYSIS
- APAC: APAC accounts for more than 50% of the share in the global plastic additives market. India and China will lead the market in this segment. An increase in demand for electric cars will be another factor that will boost the growth of plastic additives in APAC. It is forecasted that China will manufacture 13 million electric vehicles in 2023. This will drive the demand for plastic additives in the market.
Market segmentation by Geography
- APAC
- China
- India
- Japan
- South Korea
- Europe
- Germany
- Italy
- France
- Spain
- UK
- North America
- US
- Canada
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
VENDOR ANALYSIS
- The key companies in the plastic additives industry are BASF SE, SONGWON, Clariant AG, Albemarle Corporation, and ExxonMobil.
- Songwon is a market leader in plastic additives, and more than 60% of the total revenue is due to the virtue of polymer additives stabilizers. This dominancy in the market is due to its expertise in delivering quality products for various applications.
Key Vendors
- BASF
- SONGWON
- Clariant AG
- Albemarle Corporation
- ExxonMobil
Other Prominent Vendors
- Dow Chemical Company
- Evonik Industries AG
- Nouryon
- LANXESS AG
- SABIC
- Kaneka Corporation
- ADEKA Corporation
- PMC Group
- Covestro AG
- Baerlocher Group
- Astra Polymers
- GRAFE
- Milliken & Company
- Avient Corporation
- SABO
- Sakai Chemical
- Broadview Technologies
- Kemipex
- Ampacet Corporation
- Valtris Speciality Chemicals
KEY QUESTIONS ANSWERED:
1. How big is the plastic additives market?
2. Which region has the highest market share in plastic additives?
3. Who are the key players in the global plastic additives industry?
4. What are the different segments covered in the plastic additives market?
5. What are the key driving factors driving the growth of the plastic additives industry?
6. What are the applications in the plastic additives market?
Table of Contents
1 Research Methodology2 Research Objectives3 Research Process6 Market at a Glance
4 Scope & Coverage
5 Report Assumptions & Caveats
7 Introduction
8 Growth Opportunity
9 Market Opportunities & Trends
10 Market Growth Enablers
11 Market Restraints
12 Market Landscape
13 Additive Type
14 Plastic Type
15 Application
16 Geography
17 APAC
18 Europe
19 North America
20 Latin America
21 Middle East And Africa
22 Competitive Landscape
23 Key Company Profiles
24 Other Prominent Vendors
25 Report Summary
26 Quantitative Summary
27 Appendix
LIST OF EXHIBITS
LIST OF TABLES
Companies Mentioned
- BASF
- SONGWON
- Clariant AG
- Albemarle Corporation
- ExxonMobil
- Dow Chemical Company
- Evonik Industries AG
- Nouryon
- LANXESS AG
- SABIC
- Kaneka Corporation
- ADEKA Corporation
- PMC Group
- Covestro AG
- Baerlocher Group
- Astra Polymers
- GRAFE
- Milliken & Company
- Avient Corporation
- SABO
- Sakai Chemical
- Broadview Technologies
- Kemipex
- Ampacet Corporation
- Valtris Speciality Chemicals
Methodology
Our research comprises a mix of primary and secondary research. The secondary research sources that are typically referred to include, but are not limited to, company websites, annual reports, financial reports, company pipeline charts, broker reports, investor presentations and SEC filings, journals and conferences, internal proprietary databases, news articles, press releases, and webcasts specific to the companies operating in any given market.
Primary research involves email interactions with the industry participants across major geographies. The participants who typically take part in such a process include, but are not limited to, CEOs, VPs, business development managers, market intelligence managers, and national sales managers. We primarily rely on internal research work and internal databases that we have populated over the years. We cross-verify our secondary research findings with the primary respondents participating in the study.
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