LONDON--(BUSINESS WIRE)--Technavio has announced the top seven leading vendors in their recent global plastic additives market report. This research report also lists 12 other prominent vendors that are expected to impact the market during the forecast period.
Plastic additives are employed to improve the chemical, physical, and mechanical properties and the performance of the plastic material that they are added to. They serve various functions required in the plastic industry. Plasticizers are predominantly used in all types of polymer compositions and are the crucial and key ingredient in molds or masterbatches.
Competitive vendor landscape
The global plastic additives market is fragmented with many vendors present across the globe creating an intensely competitive landscape. The top vendors held a majority of the market share in 2016. These key vendors are concentrating on technological advances and offer innovative and high-quality products in order to consolidate their market shares.
“The prominent vendors operating in the market offer a comprehensive portfolio of plastic additives having a wide range of specialized and standard applications to gain a competitive edge over others. Thus, these strategies are likely to intensify competition among key players in the coming years,” says Mohd Shakeel Iqbal, a lead plastics, polymers, and elastomers research analyst from Technavio.
The majority of the key vendors have backward integration. ExxonMobil, BASF, and Evonik industries have backward integration and are prominently present in APAC. They are also actively present in the Americas and EMEA.
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Top seven plastic additives market vendors
BASF
BASF is increasing its global plastic additives production, and the company is planning to invest in several operating sites, such as the US, Europe, and APAC. BASF manufactures antioxidants, process stabilizers, light stabilizers, flame retardants, blends, and pigments. Antioxidants are sold under the brand name Irganox.
Clariant
The company produces flame retardants in plastic additives. Also, the company is increasing its additives production in China. Clariant produces various types of plastic additives, which include light stabilizers, antioxidants, antistatic agents, and stabilizers. Light stabilizers are sold under the brand name Hostavin and Nylostab. Antioxidants are sold under the brand name Hostanox, and antistatic agents are sold under the brand name Hostastat.
The Dow Chemical Company
The Dow Chemical Company focuses on providing solutions for clean energy generation and conservation, clean water, and increased agricultural productivity. Its portfolio includes advanced materials, specialty chemicals, and AgroSciences. The company produces a wide variety of products in processing aids and impact modifier types such as PARALOID EXL-3361, PARALOID K-120ND, PARALOID HIA-80, and PARALOID BPMS.
Evonik Industries
Evonik Industries, a specialty chemicals company, produces polymer materials and intermediates for consumption in the rubber and plastics industries. It also produces chemicals for daily-need consumer goods, animal nutrition, and healthcare products.
ExxonMobil
The company produces products such as polymer resin, polyethylene, and plastic additives, which are used in various end segments and ultimately enhance the performance of products. The plastic additive products include modifiers, plasticizers, lubricants, and extenders.
LANXESS
LANXESS is a leading specialty chemicals company with sales of USD 8.57 billion in 2016 and about 16,700 employees in 29 countries worldwide. The company is focused on the development, manufacture, and marketing of chemical intermediates, specialty chemicals, and plastics. The company acquired Chemtura, which is one of the major plastic additive-producing companies, as a strategy to enter the market.
Mitsui Chemicals
Mitsui Chemicals produces chemical products such as plastic additives, which are used in automobile, electronic, housing, and others. The various types of plastic additives manufactured by Mitsui Chemicals include stabilizers, blowing agents, impact modifiers, pigments, and processing aids.
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