Plastic Additives Market Sales, Applications 2019-2023 Forecast

Diverse application scope provides a forecasted growth of 5.5% CAGR till 2022

Plastic Additives Market Overview

Plastic Additives Market has seen a stimulating growth period over the past decade. As per the analysis, the worldwide market has certain drivers that can sustain this growth status throughout the forecast period. Market Research Future, a firm which specializes in market reports related to the chemicals & materials sector among others, recently forecasted in its report on

‘Plastic Additives Market Research Report Global Forecast to 2022’ that the global plastic additives market is expected to earn more than USD 55 billion by 2022 with a CAGR of exceeding 5.5%.

Plastic Additives Market Competitive Analysis

With the entry of industry players in the global plastic additives segment, a trend of solid, volume-driven growth has been observed in the market with the development of different varieties of plastic additives.

With companies aiming to capture a considerable share of the market segment, they are competing and experimenting with various advantage points. The best long-term growth opportunities for this sector can be captured by ensuring ongoing process improvements and financial flexibility to invest in the optimal strategies.

Key Players of “Global Plastic Additives Market 2019-2023″

BASF SE, Dow Chemical, DuPont, Evonik Industries, ExxonMobil, Mitsui Chemical, SABIC, Chemtura Corporation, Clariant, Bayer AG

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Plastic Additives play a crucial role in making plastics work as they are mixed with the essential polymers to create plastic products that can be molded or shaped to suit various applications.

The range of applications for plastic additives include synthetic bumper, artificial hip joints, dashboards, steering wheels and switches to name a few. Usage of additives to make plastic allows incorporation of the assets of functionality, enhanced quality along with the ability to customize such forms of plastic to suit requirements. The demand for plastic additives is growing at an exponential rate as the demand and usage applications have increased.

Plastic additives are also gaining traction due to their ability to reduce production costs and maximize the economies of scales which are considered priority for many companies in the plastic manufacturing sector. Ability of plastic additives to make plastic processing easier is also an important contributing factor to the growth of the industry for plastic additives.

Due to the cost of metal equipment increasing following the rise in the number of mineral ore resources has positively contributed to the demand of plastic additives industry. Despite the growth of this industry, the market is still undergoing a phase of development and is going to expand at quick pace.

The prime users of the plastic additives market are plastic manufacturing companies, as additives are industrial products. Growing applications and increasing demand due to increased R & D for plastic has expanded the plastic additives on a global stage. APAC is the main region for plastic additives consumption owing to rising per capita income, increased urbanization and development of food storage concepts.

The sector can find its growth limited due to growing awareness for environmental protection, reusability feature of plastics which allows them to have multiple uses and increased health awareness on consumer end towards the potential side effect of plastic containing toxic materials which can possibly cause a host of diseases.

Latest Industry Updates:

Nov 2017 German specialty chemicals company Evonik Industries AG has signed an agreement to acquire the high-concentrates additive compounding business of US-based 3M. The move is part of Evonik’s plan to further expand capabilities in specialty additives, with the acquisition adding solid additives to its portfolio. These operations will be incorporated into Evonik’s interface & performance business line, which produces and markets specialty additives for the plastics industry.

Oct 2017 Enhancing their international position further within the plastic additives sector, Peter Greven has announced the acquisition of Norac Additives for an undisclosed sum. Norac will be renamed Norac Additives LLC

May 2017 Clariant has re-emphasized its commitment to Asia with a multi-million CHF investment to its additives business to ensure local manufacturing in China of customized, high-end solutions for the Plastics, Coatings & Inks industries.

Mar 2017 BASF is investing more than €200 million globally to increase its production network for plastic additives. An important step is an investment to build a new plastic additives plant at its Caojing site in Shanghai, China. This world-class plant, with an annual capacity of 42,000 tons, will produce antioxidants and associated forms and blends. It is expected to be completed in 2019, with commercial production to start by early 2020.

Feb 2017 Specialty chemicals company Altana has acquired the US-based PolyAd Services, a developer and manufacturer of additive solutions for the global plastics market. PolyAd Services will be integrated into the plastics additives business line of Altana Group’s largest division BYK Additives & Instruments.

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Plastic Additives Market Segments

The market for plastic additives market globally has been divided on the basis of product types, applications and regions

By Product Type: Antioxidants, Fire retardants, Plasticizers, Lubricants, UV Stabilizers and others.

By Application: Packaging, Automotive, Wire and Cable, Consumer Goods and others.

By Region: North America, Europe, Asia – Pacific and RoW.

Plastic Additives Market Regional Analysis

As per the report, the market has been divided into following regions which includes Middle East & Africa, Asia-Pacific, North America, Europe and Latin America. Geographically, Asia-Pacific is one of the leading regions by covering around 35% of the total market in terms of value. Followed by this North America ranked second and Europe on third respectively. The emerging economies of APAC region, rising per capita income and increasing urbanization has also become the growing factors. The global plastic additives market is mainly driven by the increasing demand of plastic and growing application segment across the globe..

TABLE OF CONTENTS

1 Executive Summary

2 Scope Of The Report

2.1 Market Definition

2.2 Scope Of The Study

2.2.1 Research Objectives

2.2.2 Assumptions & Limitations

2.3 Markets Structure

3 Market Research Methodology

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