Plastic Additives Market Size by Revenue to Reach USD 38.77 Billion by 2026 - Arizton

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Arizton Advisory & Intelligence

02 Dec, 2021, 16:00 GMT

In-depth analysis and data-driven insights on the impact of COVID-19 included in these plastic additives market report.

CHICAGO, Dec. 2, 2021 /PRNewswire/ -- The plastic additives market is expected to grow at a CAGR of over 5.24% during the period 2020−2026.

Key Highlights Offered in the Report:  

  • Flame retardants emerged as the largest additive type in the global plastic additives market.
  • Commodity plastics reported the maximum share in the plastic additives market in 2020, and it is expected to grow at a CAGR of 5% during the forecast period.
  • Growing environmental concerns are threatening the demand for plastics and plastic additives. Many green plastic additives are now being developed to ease the breakdown of polymer matrix post usage.
  • Volatile prices of raw materials, regulations by regulatory bodies, and environmental concerns are certain factors that will impede the consumption of plastic additives.
  • In 2020, Europe was the second-largest consumer market for plastic additives. The significant presence of global automotive and transportation manufacturers and the electronics industry drives the demand for plastic additives in the region.

Key Offerings:

  • Market Size & Forecast by Revenue | 2020−2026
  • Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
  • Market Segmentation – A detailed analysis by additives type, plastic type, application, and geography
  • Competitive Landscape – 5 key vendors and 20 other prominent vendors are profiled in the report

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Plastic Additives Market – Segmentation

  • The use of flame retardants is expected to grow, as companies have been investing profoundly in the fireproof infrastructure due to several guidelines being issued by governments and regulatory agencies. This is turn, will drive the sales of flame retardants plastic additives market.
  • The polyethylene segment reported the highest share of the commodity plastic additives market at USD 4.98 billion in 2020 and will grow at a CAGR of 5.84% during the forecast period.
  • Rising environmental concerns and sustainable development will propel the demand for bio-plastic additives and encourage more investments in R&D initiatives.
  • The popular trend of e-shopping and packaged food consumption will drive the growth of the packaging segment in the plastics additives market in the upcoming years.

Plastic Additives Market by Additives Type

  • Flame retardants
  • Heat stabilizers
  • Impact modifiers and processing aids
  • Lubricant and slip additives
  • Antioxidants
  • Blowing agents
  • Antistatic agents
  • Light stabilizers
  • Others

Plastics Additives Market by Plastic Type

  • Commodity plastic
  • Engineering plastic
  • High performance plastic

Plastics Additives Market by Application

  • Packaging
  • Consumer goods
  • Construction
  • Automotive
  • Others

Plastic Additives Market – Dynamics

Plastic additives are cost-effective and popular solutions to make plastics flexible and durable. Various policies and interventions by the governments in many regions is promoting the use of plastic additives in many applications. Governments in various regions is encouraging the use of plastics and enhancing policy measures for investments in their regions. For instance, in India, as per the Ministry of Chemicals and Fertilizers, for the promotion of the plastic industry in the country, the government has taken various industry-friendly policies such as deregulating the petrochemical sector and allowing 100% FDI under the automatic route to facilitate fresh investments". The global e-commerce industry also employs the use of flexible plastic packaging, and it registered sales of around USD 4.28 trillion in 2020 and is expected to reach USD 6.38 trillion by 2024. Companies must enter collaborative partnerships as a key strategy to ensure a sustainable presence in the market. Such partnerships or acquisitions will ensure mutual transfer of technologies and delivery of a better product in the plastic additives market.

Key Drivers and Trends fueling Market Growth:

  • Increasing Demand for Innovative Product Applications
  • Focusing on Developing Bio-Based Plastics
  • Replacement of Conventional Materials with Plastic
  • Cost Effectiveness and Commercialization

Plastic Additives Market – Geography

China is the largest consumer in APAC, followed by India, Japan, and South Korea. China has the high market penetration for electric vehicles until 2018 and will continue manufacturing the highest number of electric vehicles in region by 2022. Increasing demand for electric cars will be major factor to boost the growth of plastic additives in APAC. The plastic additives market in the region will reach USD 20.97 billion by 2026. Europe is a saturated and matured economy. Germany accounted for the largest share of 24.60% of the total plastic additive market in Europe. Europe is a major hub for the plastic industry. The plastic additives market in the region is driven by the demand for various plastics from the end-use segments such as packaging, building and construction, automotive, electrical and electronics, and consumer goods. The market in Europe is expected to grow at a CAGR of 3.34% during the forecast period.

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Plastic Additives Market by Geography

  • North America
    • US
    • Canada
  • Europe
    • Germany
    • Italy
    • France
    • Spain
    • UK
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • South Africa

Major Vendors

  • BASF
  • SONGWON
  • Clariant AG
  • Albemarle Corporation
  • ExxonMobil

Other Prominent Vendors

  • Dow
  • Evonik Industries
  • Nouryon
  • LANXESS AG
  • SABIC
  • Kaneka Corporation
  • ADEKA Corporation
  • PMC Group
  • Covestro
  • Baerlocher Group
  • ASTRA POLYMERS
  • GRAFE
  • Milliken & Company
  • Avient Corporation
  • SABO
  • Sakai Chemical
  • Broadview Technologies
  • Kemipex
  • Ampacet Corporation
  • Valtris Specialty Chemicals

Explore our chemical and material profile to know more about the industry.

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SOURCE Arizton Advisory & Intelligence