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Packaging Additive Market Size Worth USD 1.01 Billion by 2024: Hexa Research


News provided by

Hexa Research

21 Aug, 2017, 10:00 GMT

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FELTON, California, August 21, 2017 /PRNewswire/ --

The global packaging additive market is anticipated to reach USD 1.01 billion by 2024. The increasing demand for the use of additives such as antimicrobial agents, antifog agents, and oxygen scavengers as a result of protecting the packed product such as food, beverages, and pharmaceutical from the external environment is expected to boost the market over the forecast period.

In 2016, Asia Pacific contributed to 28.1% of the overall market in terms of revenue. The market is expected to grow substantially on account of the increasing demand for packed foods and beverages. Moreover, the growth of the pharmaceutical manufacturing sector in the region is expected to augment the growth of the market.

The demand for packaging additives is expected to witness a significant growth on account of the technological development and lower-cost solutions. Moreover, major manufacturing companies are investing heavily in R&D to introduce innovative products and expanding their presence in the global market by increasing their production capacity to meet the required demand.

UV stabilizers were valued at USD 97.8 million in 2016 and are expected to grow on account of its utilization for protecting the packaged material from the external environment such as infrared radiation and ultraviolet radiation from sunlight. Increasing demand for barrier protection solutions is expected to drive growth.

Browse full research report with TOC on "Packaging Additives Market Size and Forecast, By Type (Antimicrobial Agents, Anti-Fog Agents, Antistatic Agents, Clarifying Agents, Oxygen Scavengers, UV Stabilizers), By Product (Rigid, Flexible), By Application (Food, Beverages, Pharmaceutical & Healthcare, Cosmetic & Personal Care), And Trend Analysis, 2014 - 2024" at: https://www.hexaresearch.com/research-report/packaging-additives-market

Food packaging dominated the global market in 2016 and projected to grow at a CAGR of 4.4% over the projected period. Additives play a major role in protecting the packed item. In addition, they help in reducing the formation of moisture on the surface which allows a consumer to view the product clearly. Aesthetics play a major role in driving the growth of the market in the application sector.

The pharmaceutical & healthcare segment is anticipated to be the fastest growing application over the forecast period. These additives provide the necessary chemical and physical stability to the packaged product by protecting it from the external environment such as light, oxygen, microorganism and moisture. The increasing demand for these additives due to regulatory pressures and enhanced patient care anticipated to boost the market over the forecast period. The segment is estimated to be worth USD 212.6 million by 2024.

The key players in the global market are Clariant, Adeka Corporation, Amcor, Songwon Industrial Co. Ltd, ALTANA AG, Addivant, Cytec Solvay Group, BASF SE, E.I. Du Pont De Nemours & Company and AkzoNobel.

Browse reports of similar category by Hexa Research: 

Graphite Electrode Market - Global graphite electrode market size was valued at USD 3.83 billion in 2016 and is anticipated to grow on account of increasing steel production through electric arc furnace (EAF) route.

Industrial Gloves Market - Industrial gloves are mostly utilized for employee safety during hazardous conditions at workplace. Being a necessary commodity particularly in healthcare, food and chemical industry the gloves provide protection to hands and palm.

Adhesive Films Market - Global adhesive films market is set to attain nearly USD 17 billion by 2024, at a CAGR over 6% from 2016 to 2024.

Ceramic Filters Market - Projected to grow at a CAGR of almost 13% from 2016 to 2024, ceramic filter market is expected to grow significantly over the forecast period owing to growing environmental concerns.

Hexa Research has segmented the global packaging additive market based on type, product, application and region: 

Segmentation by type, 2014 - 2024 (Tons) (USD Million) 

  • Antimicrobial agents
  • Antifog agents
  • Antistatic agents
  • Clarifying agent
  • Oxygen Scavengers
  • UV stabilizers
  • Others

Segmentation by product, 2014 - 2024 (Tons) (USD Million) 

  • Rigid
  • Flexible
  • Others

Segmentation by application, 2014 - 2024 (Tons) (USD Million) 

  • Food
  • Beverages
  • Pharmaceutical & Healthcare
  • Cosmetics & Personal care

Segmentation by region, 2014 - 2024 (Tons) (USD Million) 

  • North America
    • U.S.
  • Europe
    • Germany
    • UK
  • Asia Pacific
    • China
    • India
  • Latin America
  • Middle East & Africa

Key players analyzed: 

  • Clariant
  • Adeka Corporation
  • Amcor
  • Songwon Industrial Co. Ltd
  • ALTANA AG
  • Addivant
  • Cytec Solvay Group
  • BASF SE
  • E.I. Du Pont De Nemours and Company
  • AkzoNobel

About Hexa Research 

Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.

Contact:
Michelle T.
Corporate Sales Specialist
Hexa Research
Phone: +1-415-349-0058
Toll Free: 1-800-489-3075
Email: sales@hexaresearch.com

Web: https://www.hexaresearch.com/

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