PUNE, India, April 21, 2017 /PRNewswire/ --
The report "Performance Additives Market by Type (Plastic Additives, Paint & Coatings Additives, Pigment Additives, Ink Additives), End-Use Industry (Packaging, Household Goods, Automotive, Industrial, Construction), and Region - Global Forecast to 2021" published by MarketsandMarkets™, the market is projected to grow from an estimated USD 75.01 Billion in 2016 to USD 110.35 Billion by 2021, at a CAGR of 8.0%.
Browse 76 market data Tables and 26 Figures spread through 169 Pages and in-depth TOC on "Performance Additives Market"
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The market is driven by the growing demand for performance additives in the packaging and household goods industries, as these additives enhance the processability, performance, and appearance of the final product.
Plastic Additives: The largest type segment of the Performance Additives Market
By type, the Performance Additives Market is segmented into plastic additives, paint & coatings additives, pigment additives, ink additives, and rubber additives. Among these, the plastic additives segment is estimated to account for the largest market share. Plastic additives are materials that are added during the manufacturing to enhance the processability, performance, and appearance of the polymer. Plastic additives have found widespread applications in the building & construction, packaging, automotive, household goods, electronics, and other industries, such as healthcare, consumer goods, and telecommunication.
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Packaging: The largest end-use industry segment of the Performance Additives Market
Performance additives are used in various end-use industries, such as packaging, household goods, automotive, industrial, construction, and wood & furniture. The packaging end-use industry segment accounted for the largest market share in 2015, in terms of value and volume. This segment is also projected to grow at the highest CAGR from 2016 to 2021, in terms of value, among all the industries considered.
Asia-Pacific: The fastest growing market for performance additives
The Asia-Pacific region is the fastest-growing market for performance additives. Factors driving the Performance Additives Market in this region are:
- Growing demand from end-use industries, such as automotive, packaging, household goods construction, and industrial, in major countries of the region, such as China and India
- Increasing investments in the region's packaging and construction industries
Key players in the Performance Additives Market include BASF SE (Germany), AkzoNobel N.V. (Netherlands), Solvay S.A. (Belgium), Evonik Industries AG (Germany), Altana AG (Germany), Clariant (Switzerland), The Dow Chemical Company (U.S.), Lanxess (Germany), Arkema SA (France), and Huntsman International LLC (U.S.).
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