DUBLIN--(BUSINESS WIRE)--The "Plastic Additives Market - Global Outlook & Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.
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
- 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.
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?
Opportunities & Trends
- Cost Effectiveness And Commercialization
- Focus On Developing Bio-Based Plastics
- Innovative Product Applications
- Rising Demand For Plastics From APAC And Other Regions
- Replacement Of Conventional Materials With Plastic
- New Product Developments
- Stringent Regulations On Plastic Usage
- Supply Chain Disruptions
By Additive Type
- Flame Retardants
- Heat Stabilizers,
- Impact Modifiers and Processing Aids
- Lubricant and Slip Additives
- Blowing Agents
- Antistatic Agents
- Light Stabilizers
By Plastic Type
- Commodity Plastic
- Polyvinyl Chloride
- Engineering Plastic
- Acrylonitrile Butadiene
- Polyethylene Terephthalate
- High-Performance Plastic
- High Performance Polyamide
- Polyphenylene sulfide
- Liquid crystal polymer
- Consumer Goods
- South Korea
- North America
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- 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.
- Clariant AG
- Albemarle Corporation
Other Prominent Vendors
- Dow Chemical Company
- Evonik Industries AG
- LANXESS AG
- Kaneka Corporation
- ADEKA Corporation
- PMC Group
- Covestro AG
- Baerlocher Group
- Astra Polymers
- Milliken & Company
- Avient Corporation
- Sakai Chemical
- Broadview Technologies
- Ampacet Corporation
- Valtris Specialty Chemicals
For more information about this report visit https://www.researchandmarkets.com/r/neobnj