The plastic additives market size has grown strongly in recent years. It will grow from $55.18 billion in 2023 to $59.44 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth during the historical period can be attributed to several factors, increased demand for lightweight materials, expansion of the packaging industry, rapid urbanization and infrastructure projects, heightened consumer expectations for product quality and longevity, and the necessity for efficient agricultural practices and materials.
The plastic additives market size is expected to see strong growth in the next few years. It will grow to $80.45 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to economic growth in emerging markets, increased utilization of medical plastics with additives, rising adoption of advanced plastic materials in agriculture, growing consumer demand for long-lasting and high-quality consumer goods, and a high demand for flexible and durable packaging solutions. Major trends in the forecast period include the development of biodegradable additives, the utilization of nanomaterials to enhance the mechanical, thermal, and barrier properties of plastics, smart additives, innovations focused on making plastic additives more compatible with recycling processes, and enhanced UV stabilizers.
The increasing demand for electronics from consumers is expected to drive the growth of the plastic additives market. Electronics, which are systems or components controlling the flow of electrically charged particles for various functions, are in higher demand due to their integral role in communication, work, entertainment, and automation. Plastic additives play a crucial role in enhancing the performance, durability, and functionality of electronic components such as circuit boards and casings, ensuring optimal operation and protection against environmental factors. For example, in May 2023, the Japan Electronics and Information Technology Industries Association reported that consumer electronics production rose to $291.81 million (¥32,099 million) from $229.71 million (¥25,268 million) in May 2022, indicating the driving force of consumer demand for electronics in boosting the plastic additives market.
Key players in the plastic additives market are innovating with new products, such as biomass balance approach plastic additives, to stay competitive. This approach creates plastic additives with a reduced carbon footprint by integrating renewable resources. For instance, in September 2023, BASF SE launched a line of biomass-balanced plastic additives, including Irganox 1010 BMBcert and Irganox 1076 FD BMBcert, certified by TÜV Nord for mass balance as per international sustainability and carbon certification (ISCC PLUS) standards. These solutions encourage the use of renewable resources over fossil feedstocks, enabling customers to reduce their carbon footprint by up to 60% compared to traditional products.
In August 2021, LANXESS AG acquired Emerald Kalama Chemical LLC to strengthen its position in the specialty chemicals market. This acquisition broadens LANXESS' product range, particularly in plastic additives such as non-phthalate PVC plasticizers and polyolefin modifiers, enhancing profitability through synergies and growth prospects. Emerald Kalama Chemical, LLC specializes in providing plastic additives and is based in the United States.
Major companies operating in the plastic additives market are ExxonMobil Corporation, BASF SE, Dow Inc, Saudi Basic Industries Corporation (SABIC), LyondellBasell Industries NV, Evonik Industries AG, Solvay S.A., Mitsui Chemicals Inc., Arkema S.A., AkzoNobel N.V., Eastman Chemical Company, Albemarle Corporation, Lanxess AG, Lubrizol Corporation, Clariant AG, Avient Corporation, Adeka Corporation, Kaneka Corporation, Chemtura Corporation, Ferro Corporation, Ampacet Corporation, Songwon Industrial Co. Ltd., Baerlocher GmbH, Valtris Specialty Chemicals, PMC Group.
Asia-Pacific was the largest region in the plastic additives market in 2023. The regions covered in the plastic additives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the plastic additives market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Plastic additives are chemical compounds added to polymer materials to enhance their properties, processing, or performance. These additives can improve characteristics such as flexibility, durability, color, thermal stability, and resistance to UV radiation. They help customize materials for various applications and environmental conditions by modifying the properties of the base polymer.
The main types of plastic additives include plasticizers, flame retardants, impact modifiers, lubricants, antioxidants, antimicrobials, UV stabilizers, and others. Plasticizers make plastics softer and more flexible by increasing the distance between polymer chains, allowing them to slide past each other easily. Plastic types range from polystyrene to polyvinyl chloride (PVC), polypropylene, polyethylene, engineering plastics, and more. These plastics find use in packaging, automotive, agriculture, building and construction, consumer goods, electrical and electronics, and other industries.
The plastic additives research report is one of a series of new reports that provides plastic additives market statistics, including the plastic additives industry's global market size, regional shares, competitors with a plastic additives market share, detailed plastic additives market segments, market trends and opportunities, and any further data you may need to thrive in the plastic additives industry. This plastic additives market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The plastic additives market consists of sales of flame retardants, impact modifiers, antistatic agents, colorants, and fillers. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The plastic additives market size is expected to see strong growth in the next few years. It will grow to $80.45 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to economic growth in emerging markets, increased utilization of medical plastics with additives, rising adoption of advanced plastic materials in agriculture, growing consumer demand for long-lasting and high-quality consumer goods, and a high demand for flexible and durable packaging solutions. Major trends in the forecast period include the development of biodegradable additives, the utilization of nanomaterials to enhance the mechanical, thermal, and barrier properties of plastics, smart additives, innovations focused on making plastic additives more compatible with recycling processes, and enhanced UV stabilizers.
The increasing demand for electronics from consumers is expected to drive the growth of the plastic additives market. Electronics, which are systems or components controlling the flow of electrically charged particles for various functions, are in higher demand due to their integral role in communication, work, entertainment, and automation. Plastic additives play a crucial role in enhancing the performance, durability, and functionality of electronic components such as circuit boards and casings, ensuring optimal operation and protection against environmental factors. For example, in May 2023, the Japan Electronics and Information Technology Industries Association reported that consumer electronics production rose to $291.81 million (¥32,099 million) from $229.71 million (¥25,268 million) in May 2022, indicating the driving force of consumer demand for electronics in boosting the plastic additives market.
Key players in the plastic additives market are innovating with new products, such as biomass balance approach plastic additives, to stay competitive. This approach creates plastic additives with a reduced carbon footprint by integrating renewable resources. For instance, in September 2023, BASF SE launched a line of biomass-balanced plastic additives, including Irganox 1010 BMBcert and Irganox 1076 FD BMBcert, certified by TÜV Nord for mass balance as per international sustainability and carbon certification (ISCC PLUS) standards. These solutions encourage the use of renewable resources over fossil feedstocks, enabling customers to reduce their carbon footprint by up to 60% compared to traditional products.
In August 2021, LANXESS AG acquired Emerald Kalama Chemical LLC to strengthen its position in the specialty chemicals market. This acquisition broadens LANXESS' product range, particularly in plastic additives such as non-phthalate PVC plasticizers and polyolefin modifiers, enhancing profitability through synergies and growth prospects. Emerald Kalama Chemical, LLC specializes in providing plastic additives and is based in the United States.
Major companies operating in the plastic additives market are ExxonMobil Corporation, BASF SE, Dow Inc, Saudi Basic Industries Corporation (SABIC), LyondellBasell Industries NV, Evonik Industries AG, Solvay S.A., Mitsui Chemicals Inc., Arkema S.A., AkzoNobel N.V., Eastman Chemical Company, Albemarle Corporation, Lanxess AG, Lubrizol Corporation, Clariant AG, Avient Corporation, Adeka Corporation, Kaneka Corporation, Chemtura Corporation, Ferro Corporation, Ampacet Corporation, Songwon Industrial Co. Ltd., Baerlocher GmbH, Valtris Specialty Chemicals, PMC Group.
Asia-Pacific was the largest region in the plastic additives market in 2023. The regions covered in the plastic additives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the plastic additives market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Plastic additives are chemical compounds added to polymer materials to enhance their properties, processing, or performance. These additives can improve characteristics such as flexibility, durability, color, thermal stability, and resistance to UV radiation. They help customize materials for various applications and environmental conditions by modifying the properties of the base polymer.
The main types of plastic additives include plasticizers, flame retardants, impact modifiers, lubricants, antioxidants, antimicrobials, UV stabilizers, and others. Plasticizers make plastics softer and more flexible by increasing the distance between polymer chains, allowing them to slide past each other easily. Plastic types range from polystyrene to polyvinyl chloride (PVC), polypropylene, polyethylene, engineering plastics, and more. These plastics find use in packaging, automotive, agriculture, building and construction, consumer goods, electrical and electronics, and other industries.
The plastic additives research report is one of a series of new reports that provides plastic additives market statistics, including the plastic additives industry's global market size, regional shares, competitors with a plastic additives market share, detailed plastic additives market segments, market trends and opportunities, and any further data you may need to thrive in the plastic additives industry. This plastic additives market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The plastic additives market consists of sales of flame retardants, impact modifiers, antistatic agents, colorants, and fillers. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Plastic Additives Market Characteristics3. Plastic Additives Market Trends and Strategies32. Global Plastic Additives Market Competitive Benchmarking33. Global Plastic Additives Market Competitive Dashboard34. Key Mergers and Acquisitions in the Plastic Additives Market
4. Plastic Additives Market - Macro Economic Scenario
5. Global Plastic Additives Market Size and Growth
6. Plastic Additives Market Segmentation
7. Plastic Additives Market Regional and Country Analysis
8. Asia-Pacific Plastic Additives Market
9. China Plastic Additives Market
10. India Plastic Additives Market
11. Japan Plastic Additives Market
12. Australia Plastic Additives Market
13. Indonesia Plastic Additives Market
14. South Korea Plastic Additives Market
15. Western Europe Plastic Additives Market
16. UK Plastic Additives Market
17. Germany Plastic Additives Market
18. France Plastic Additives Market
19. Italy Plastic Additives Market
20. Spain Plastic Additives Market
21. Eastern Europe Plastic Additives Market
22. Russia Plastic Additives Market
23. North America Plastic Additives Market
24. USA Plastic Additives Market
25. Canada Plastic Additives Market
26. South America Plastic Additives Market
27. Brazil Plastic Additives Market
28. Middle East Plastic Additives Market
29. Africa Plastic Additives Market
30. Plastic Additives Market Competitive Landscape and Company Profiles
31. Plastic Additives Market Other Major and Innovative Companies
35. Plastic Additives Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Plastic Additives Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on plastic additives market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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Description
Where is the largest and fastest growing market for plastic additives? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The plastic additives market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) By Type: Plasticizers; Flame Retardants; Impact Modifiers; Lubricants; Antioxidants; Antimicrobials; Ultra-Violet (UV) Stabilizers; Other Types2) By Plastic Type: Polystyrene; Polyvinyl Chloride (PVC); Polypropylene; Polyethylene; Engineering Plastics; Other Plastic Types
3) By Application: Packaging; Automotive; Agriculture; Building And Construction; Consumer Goods; Electrical And Electronics; Other Applications
Key Companies Mentioned: ExxonMobil Corporation; BASF SE; Dow Inc; Saudi Basic Industries Corporation (SABIC); LyondellBasell Industries NV
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned
- ExxonMobil Corporation
- BASF SE
- Dow Inc
- Saudi Basic Industries Corporation (SABIC)
- LyondellBasell Industries NV
- Evonik Industries AG
- Solvay S.A.
- Mitsui Chemicals Inc.
- Arkema S.A.
- AkzoNobel N.V.
- Eastman Chemical Company
- Albemarle Corporation
- Lanxess AG
- Lubrizol Corporation
- Clariant AG
- Avient Corporation
- Adeka Corporation
- Kaneka Corporation
- Chemtura Corporation
- Ferro Corporation
- Ampacet Corporation
- Songwon Industrial Co. Ltd.
- Baerlocher GmbH
- Valtris Specialty Chemicals
- PMC Group
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 175 |
Published | August 2024 |
Forecast Period | 2024 - 2028 |
Estimated Market Value ( USD | $ 59.44 Billion |
Forecasted Market Value ( USD | $ 80.45 Billion |
Compound Annual Growth Rate | 7.9% |
Regions Covered | Global |
No. of Companies Mentioned | 25 |