The market size of global plastic additive market was valued over USD 38.50 billion in 2015 and it is projected to grow with a CAGR of 4.9% during the forecast period of 2017-2023 to surpass USD 55 billion by 2023. Plastic additives are chemical added polymers which are used to enhance the end user properties of plastic. The polymers used in the plastic are mixed with monomeric units and are not in their pure form, but are harmless. These monomers i.e. monomeric units are known as plastic additives and are classified as reinforcing fibers, coupling agents, stabilizers, colorants, fillers, processing aids, flame retardants, peroxides and antistatic agents. Plastic additives majorly aim to improve the processing characteristics and properties of plastic and to enhance end user performance. Furthermore, plastic additives facilitate safe handling during the manufacturing of finished products.
Rapidly increasing usage of plastics in industrial manufacturing, construction, automotive and mechanical engineering coupled with increasing cost of natural metal are the major factors driving the growth of plastic additives market. Increasing costs of natural metals has increased preferences for plastic additives. Moreover, augmented household applications and lower cost of plastic products are likely to boost the growth of this market over the forecast period. On the other hand, the global plastic additives market is restrained by stringent government regulation on limited usage of plastic and environmental policies. Due to introduction of bans and regulatory obligations in recent years on usage of wide range of plastic additives is likely to hamper the growth of this market over the forecast period. Going forward, consistently increasing application of plastic additives is likely to increase opportunities to the players in this market over the forecast period.
Figure: Global Plastic Additive Market by Value
The report segments the global plastic additives market by additives type, by function, by application and by region. Market segmentation based on types of additives includes plasticizers, stabilizers, flame retardants, impact modifiers and others. Plasticizers registered major market share of the plastic additive market and is largely used to process polymers and are less expensive than other additives. On the basis of function market is segmented into property modifiers, property stabilizers, property extenders and processing AIDS, while the application segment comprises packaging, automotive, consumer good, construction, manufacturing processes and others.
Geographic Coverage and Analysis:
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. APAC was the largest plastic additives market and accounted market share of more than 35%. Moreover, increasing industrial output, economic growth in India, China, Indonesia and Malaysia and rapidly growing packaging industry across the region are expected to drive the dominance of APAC over the forecast period. Nevertheless, Europe is the most promising region after APAC and is anticipated to witness fastest CAGR of XX% over the forecast period. Rising automotive industry coupled with increasing adoption of plastic products are the factors likely to drive the growth of plastic additive market over the forecast period across the region.
The companies covered in the report includes, Akzo Nobel NV, Albemarle Corporation, Amfine Chemical Corporation, BASF SE, Chemtura Corporation, Croda International pl, Dow Chemical Company, EI DuPont de Nemours, Eastman Chemical Company, Evonik Industries AG, Rhein Chemie Rheinau, PMC Global Incorporated
The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the demand of plastic additives globally as well as regionally. Moreover, IGR-Growth Matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter’s five forces analysis and value chain analysis of plastic additives market.
Moreover, the study highlights current market trends and provides forecast from 2017 to 2023. We also have highlighted future trends in the plastic additives market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. Additionally, the analysis highlights rise and fall in the market shares of the key players in the market.
The report also provides in depth analysis of regulatory framework pertaining to plastic additive market. This will help the companies to understand the regulatory compliance's, supports, barriers in the plastic additive market. This section highlights key amendments and their implication on plastic additive market in the short run as well as in the long run. This report will help manufacturers, suppliers and distributors in market to understand the present and future trends in this market and formulate their strategies accordingly.
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